Top Indian Banking Industry News & Updates - 31 May 2023,Wednesday
🗎 RBI / MoF / Govt. Policies
📝 RBI working on light weight, portable payment system for critical transactions during catastrophic events
📝 Digital Rupee: RBI plans to expand CBDC pilot to include more banks and locations
📝 US, Europe turmoil: RBI urges banks, non-bank intermediaries to stress-test
📝 Around 91,110 pieces of fake Rs 500 notes detected in FY23: RBI report
📝 Challenges for market borrowings expected to persist, says RBI Annual Report
📝 Currency in circulation rose in value, volume during 2022-23: RBI
📝 Sharp jump in foreign exchange income boosts RBI dividend for FY2023
📝 RBI plans new payment system to safeguard essential payments against digital attack, natural calamities
📝 RBI to introduce expected loss approach for bad loan provisioning in 2023-24
📝 IIT Madras Research Park, RBI’s innovation centre working on voice-banking technologies
📝 Indian banks report higher number of frauds, total amount declines
📝 Bank credit to MSMEs jump 14% YoY in Apr-Dec FY23; micro units major beneficiaries: RBI annual report
📝 Central Bank preparing for a rainy day
📝 Banks need to improve digitalisation and keep vigil on stressed asset: MoS Finance
📝 RBI says India’s growth momentum to continue in FY24; stresses on structural reforms
📝 Value, volume of bank notes rose in FY23, fake notes declined
📝 ‘HTM bond sales to hurt banks, but not as badly as in U.S.’
📝 250bps hike suppressed inflation by 90bps: RBI
📝 Reserve Bank of India to keep key interest rates intact at 6.50 per cent
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🏦 PSB / Pvt Banks
📝 Yes Bank advertising spend to be 30 pc higher in FY24: Official
📝 Yes Bank unveils new brand logo
📝 Up to 7.75% FD interest rate: HDFC Bank launches special FDs with higher interest rate for limited period
📝 Higher bank FD interest rates may end soon with withdrawal of Rs 2000 note; your last chance to get peak rates
📝 Capital Small Finance Bank eyes Rs 14,000 crore of total business in FY24
📝 Ex Jio Payments Bank chief appointed MD of Karnataka Bank
📝 SBI Fixed Deposit Interest Rate jumped to 10.5% in past. Know interesting history as HDFC Bank changes rates
📝 HDFC Bank may buy 1.6% in HDFC Life from JV partner
📝 Yubi partners with Indian Bank to provide digital supply chain financing for SMEs
📝 City Union Bank is poised to see testing times ahead in FY24
📝 Ujjivan bank stk rises 8% as RBI director leaves
📝 Yes Bank rejigs branding 3 years after rescue
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🏦 Foreign Banks / FIIs / I-Banks
📝 Deutsche Bank revises FD rates, promising maximum returns of 7.75% on this tenure
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🏠 Housing Finance
📝 Repco Home Finance surges 25% in 2 days post solid Q4 results
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💳 ATMs / Credit Cards
📝 SBI Card plans to raise Rs 3,000 cr from debentures
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🗎 NBFCs / FIs / MFI
📝 Suzuki Motorcycle India MoU with Bajaj Finance for two-wheeler financing
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UPIs / Wallet / FinTech
📝 Razorpay launches ‘Turbo UPI’ payment service
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Crypto
📝 Crypto transfers to private wallets to now face identification checks
📝 CoinSwitch to spend about $25 million in subsequent funding
📝 Russia to cancel the launch of national cryptocurrency exchange program
📝 Bitcoin slips at $27,800; XRP, Solana climb up to 4%
📝 Binance Australia customers seen selling bitcoin at discount to rival exchanges
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🗠 Mutual Funds / AMCs
📝 AMFI should form ethics committee to check individual misconduct: Sebi chief Buch
📝 Despite vast landscape, are the headwinds stiffening for large AMCs?
📝 ‘Sebi fee review to make a big dent in MFs’ profits’
📝 Difficult to reduce share of commercial vehicle loans: Shriram Finance chief
📝 AMCs may pass on TER to brokers, distributors
📝 Axis Mutual ropes in Vandana Trivedi for passive business
📝 Sebi puts in place guidelines for Investor Protection Fund, Investor Services Fund
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🗎 Govt. Securities / Bonds
📝 IIFCL raises ₹500 crore through bond offering
📝 RBI to ensure govt's fundraise is smooth despite global concerns
📝 HDFC's education finance arm bondholders fret over stake sale -sources
📝 MFs shy away from AT-1 bonds amid tighter rules
📝 India bond yields dip as US peers reverse course
📝 RBI to restore HTM limits for government securities
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