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
Read More >>

🏦 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
Read More >>

🗠 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
Read More >>

🗎 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
Read More >>


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