Top Indian Banking Industry News & Updates - 26 May 2023,Friday
🗎 RBI / MoF / Govt. Policies
📝 Withdrawal of Rs. 2,000 note: Over 60% support move but disagree with exchange policy, says survey
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🏦 PSB / Pvt Banks
📝 Bank of Maharashtra tops PSU lenders chart in profit and loan growth in FY23
📝 HDFC-HDFC Bank merger in 4-5 weeks; bank's margin to drop, say analysts
📝 Axis Bank launches Sarathi platform for easy PoS onboarding of merchants
📝 Loan growth: Elephant racing faster than the system, says SBI Chief
📝 Oil PSUs’ stuck Russian dividends being parked in an Indian bank in the country
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🏦 Foreign Banks / FIIs / I-Banks
📝 ECB registrations dropped by a third in FY23 amid a 516-bps rise in loan costs
📝 Acquirer of Silicon Valley Bank announces layoffs at the failed institution; no impact on team based in India
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💳 ATMs / Credit Cards
📝 Debit card-based ATM withdrawals up 235% since demonetisation: Report
📝 SBI told to pay Rs 2 lakh for sending bills to man despite credit card’s expiry
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🔍 Rating / Research
📝 Strong performance of Indian banks to continue, says S&P analyst
📝 Account aggregator transactions soar as lenders disburse Rs 6K cr
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🗎 NBFCs / FIs / MFI
📝 Capri Global Holdings acquires 51% stake in CarLelo for ₹150 crore
📝 Gold loan companies stop issuing ₹2,000 notes
📝 Ecofy ties up with Tata Power Solar Systems to provide rooftop solar financing
📝 Financial services company XFlow raises $10.2 million in Pre-Series A round
📝 Reliance Home Fin NCD holders move SC
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UPIs / Wallet / FinTech
📝 UPI use among women low, assisted onboarding can drive uptake: GPay’s Arati Deo
📝 Quarterly results. Infibeam Avenues Q4 standalone net profit jumps by 42%
📝 Make UPI Payment without UPI PIN and even when the bank server is down. Check new MobiKwik feature
📝 Gupshup brings UPI to feature phones
📝 PhonePe links 2 lakh Rupay credit cards to UPI, says it is first to do it
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🧔 Brokers / Distributors
📝 Stay with stocks, Nifty at 19,000 soon; time to own both IndusInd and HDFC Bank: Sanjiv Bhasin
📝 5paisa.com appoints former Google & Uber executive Narayan Gangadhar as CEO
📝 Brokers asked to run warnings on F&O trading risks
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Crypto
📝 China Central Television broadcasts the adoption of cryptocurrencies by Hong Kong
📝 Bitcoin falls below $26,300, Ethereum, Litecoin shed up to 3%
📝 Suspected fentanyl chemical suppliers have received $38 million in crypto – Chainalysis
📝 Sam Altman’s crypto startup raises $115 mn
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🗠 Mutual Funds / AMCs
📝 FIIs pour $5bn in last 3 months; premium to EM peers near 10-yr average: Sahil Kapoor, Market Strategist & Head -Products, DSP Mutual Fund
📝 Kotak Mutual Fund launches Kotak NIFTY 200 Momentum 30 Index Fund
📝 Next three years are likely to be rewarding for debt fund investors: Pankaj Pathak of Quantum Mutual Fund
📝 Mutual Funds: Reach your target corpus faster with SIP top-up
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 ‘Healthcare investors are writing larger cheques now’
📝 Private equity exit deals drop 29% in FY23
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🗎 Govt. Securities / Bonds
📝 FinMin agrees to allow highway contractors to convert bank guarantees into surety bonds, says Gadkari
📝 IIFCL plans to raise up to Rs 2,000 cr via 10-year bonds
📝 Some pain points addressed in surety bonds, more changes possible if need arises: Irdai
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