Top Indian Banking Industry News & Updates - 30 May 2023,Tuesday
🗎 RBI / MoF / Govt. Policies
📝 Bank boards, directors need to be vigilant to questionable corporate governance practices: Shaktikanta Das
📝 Banks need to improve digitalisation and keep vigil on stressed asset: MoS Finance
📝 RBI Guv flags governance gaps at some banks
📝 Bank privatisation to happen as per schedule: Sitharaman
📝 ICICI Bank’s board approves reappointment of Batra as ED for two more years
📝 Introduction and withdrawal of Rs 2,000 note cast doubt on integrity, stability of India's currency: Chidambaram
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🏦 PSB / Pvt Banks
📝 ICICI Bank to raise stake in ICICI Lombard
📝 A week after ₹2,000 note withdrawal, SBI gets ₹14,000-cr in deposits, exchanges ₹3,000-cr
📝 HDFC launches fixed deposit schemes offering higher interest rates
📝 IndusInd Bank stock hits Rs 1 lakh crore market cap after 3 years
📝 City Union Bank slumps 10% despite sector rally
📝 Rs 2,000 note exchange: PSU banks see longer queues; banks, customers complain over lack of clarity on rules
📝 From Doom to Bloom: The turnaround story of Indian banks’ bad loans and profits
📝 Kotak Bank relocates Mauritius domiciled fund to GIFT City
📝 ICICI Lombard shares jump 14% after ICICI Bank board okays raising stake to 4%
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🏦 Co-operative Banks / RRBs
📝 In a first, Cosmos Cooperative Bank acquires a negative net-worth bank
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🏦 Foreign Banks / FIIs / I-Banks
📝 Aim to increase SME mix to 30%, says DBS Bank India ED
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🏠 Housing Finance
📝 Repco Home Finance Q4 net almost doubles to ₹82 cr.
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💳 ATMs / Credit Cards
📝 Axis Bank Credit Card Lounge Access List Changed. Check Full List of Cards, Access Limits at Airports
📝 You can now use RuPay debit card for traveling in Delhi metro; details here
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🔍 Rating / Research
📝 RBI may reduce policy rate in fourth quarter of 2024: Oxford Economics
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🗎 NBFCs / FIs / MFI
📝 Microfinance sector's bad loan stockpile declines to Rs 36,600 crore by March
📝 Microfinance sector sees 21% growth in FY23; disbursements jump 26%, portfolio quality improves
📝 Sundaram Finance Q4 standalone rises 6% to ₹316 cr.
📝 Warburg Pincus acquires 95% stake in Vistaar Finance
📝 Lenders vote for equitable distribution of proceeds from sale of Reliance Capital
📝 RCap committee of creditors votes for equal distribution of proceeds between members
📝 NBFCs across the spectrum post record disbursements in FY23
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UPIs / Wallet / FinTech
📝 UPI transactions to account for 90% of retail digital payments by 2026-27: PwC India report
📝 FLDG guidelines expected in second round of digital lending regulations
📝 How retail investors can buy government bond for ₹100: Varun Sridhar, chief executive officer at Paytm Money
📝 Razorpay unveils India's fastest one-step payments solution Turbo UPI
📝 Behind the silent rise of Credit Saison India
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🧔 Brokers / Distributors
📝 Will borrow about ₹60,000-cr for FY24: Shriram Finance, MD & CEO
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Crypto
📝 Binance names Teng as head of regional markets outside US
📝 Bitcoin rises above $27,900 amid optimism over US debt ceiling deal
📝 Bitcoin jumps 3%, hits over two-week high on relief over US debt ceiling
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🗠 Mutual Funds / AMCs
📝 ‘Sebi fee review to make a big dent in MFs’ profits’
📝 ITI Mutual Fund launches ITI Focused Equity Fund
📝 Mirae Asset Mutual Fund launches Mirae Asset Silver ETF
📝 Our plan is to continue doing things the right way: Neil Parikh of PPFAS Mutual Fund
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🗎 Equities, Pvt. Equity / Hedge Funds
📝 On the prowl. Warburg Pincus acquires controlling stake in Vistaar Finance
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🗎 Govt. Securities / Bonds
📝 Bond yields rise as US peers continue upward march
📝 SBI raises $750 mn via bonds on India INX under its 10 billion MTN programme
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✈ International
📝 Yield curves might actually shift up as oppose to down in short term: Taimur Baig, DBS Bank.
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