RBI’s Dividend Bonanza: If it were a listed entity like BoJ, it would be worth over $500 billion
Similar to BNPL for many individuals, PNPL, or print now pay later, has been the tool of choice for many global central banks since the Global Financial Crisis. As long as the music was playing, it was fun to dance. But when the music suddenly stopped, the rush to the exit caused a stampede as can be seen with the worst bond market rout ever in developed markets.

RBI's Rs 2.1 lakh crore payout: When it all adds up to deliver a windfall to govt
Reserve Bank of India’s surprise gift to govt
The Financial Express

Banks may seek special provisions for MSMEs under RBI draft rules for the infrastructure sector
New Delhi: Banks are planning to write to the Reserve Bank of India (RBI) and the finance ministry to exempt loans given to micro, small and medium enterprises (MSMEs) from proposed rules for provisioning for infrastructure project financing.

Fixed Deposits: Which public sector banks are offering best FD interest rates?
Fixed deposit interest rates: If we compare fixed deposit rates of public sector banks with small finance banks or non-bank lenders, the former’s rates are lower but people still prefer to park their money in public sector banks. It’s because the public sector banks have government backing and a robust presence across the country, which gives customers a sense of confidence and reliability.

PSBs, led by SBI and PNB, hold bulk of unclaimed deposits
Chennai: Money with banks in India for which there are no takers has gone up 2.5x times in the post-Covid period. Driven largely by savings accounts turning inoperative or dormant and fixed deposits not redeemed, unclaimed deposits with scheduled banks crossed ₹42,000 crore as of March 2023.

Planning a new car? Here are the latest car loan interest rates from top banks
Source Credit: Deepika Chelani, mint

With car prices climbing higher every year, financing a new vehicle has become more crucial than ever. The good news? Some banks now offer zero-down payment car loans, covering 100% of the on-road price for select models. This means you can hit the road in your dream car without the immediate burden of a down payment.

Yes Bank launches premium services under ‘Yes Grandeur’ for affluent, elite customers

It will offer benefits such as dedicated relationship managers, preferential rates, exemptions on charges, significant discounts on locker facilities, and a unique 3-in-1 account combining Demat Account & Trading Account with Savings Account. Customers can also avail zero cross-currency markup charges on international debit card spends, complimentary airport lounge access, and lifestyle privileges across brands like Taj, ITC Hotels, Disney+ Hotstar, SonyLIV, Amazon, among others. The service will also provide five times the usual reward points on weekend spends and offer on movies, dining, shopping, bill payments, and more.

Credit card spends rise 18% in April
Credit card transactions rose nearly 18% year-on-year (y-o-y) to Rs1.57 trillion in April, data from the Reserve Bank of India  showed. Overall card spends were a tad lower than the Rs 1.65 trillion reported in March.

How does RBI's cash disbursal limit affect gold loan customers and businesses?
The recent advisory issued by the Reserve Bank of India (RBI) imposing a cash disbursal limit of ₹20,000 for gold loan customers has stirred discussions across the financial sector. This directive aims to regulate cash transactions in the gold loan segment and address concerns related to transparency and accountability. This article reviews the implications of the RBI's advisory on both customers availing gold loans and businesses operating in the gold financing landscape.

Paytm warns of job cuts as net loss widens in Q4
Paytm parent One97 Communications saw its net loss widening to Rs 550 crore in the January-March quarter from Rs 168 crore a year ago due to a fall in revenue from operations.

Loans to subscriptions: Paytm feels effect of RBI curtailing Payments Bank
Paytm on Wednesday reported a 54 per cent year-on-year (Y-o-Y) decline in total loans disbursed in its financial results for 2023-24 (FY24).
 

Paytm Q4 consolidated net loss widens to ₹550.5 crore
One 97 Communications Ltd, which owns brand Paytm, on Wednesday reported a consolidated net loss of ₹550.5 crore for the quarter ended March 31, 2024, as against a consolidated net loss of ₹167.5 crore recorded in the same quarter in the previous fiscal. It was also wider than the net loss of ₹221.7 crore reported in the December 2023 quarter, latest filing with the exchanges showed. 

Paytm CEO Vijay Shekhar Sharma says ‘the worst is behind us’ after Q4 results
Bengaluru: Paytm founder and CEO Vijay Shekhar Sharma told shareholders in a post-earnings call on Wednesday that the worst is behind the company after One97 Communications, its parent firm, reported lower quarterly revenue and a bigger loss on Wednesday.

Airtel Payments Bank targets 50% deposit growth in FY25
Airtel Payments Bank is targeting around 50% year-on-year (y-o-y) growth in FY25, MD & CEO Anubrata Biswas told FE. The overall deposits stood at Rs 2,801 crore as on March 2024, with monthly transacting users (MTUs) at 80.4 million.

Paytm changes designation of senior exec, CBO Ripunjai Gaur named SMP

Ripunjai Gaur, chief business officer for offline payments, was designated as being part of senior management personnel, said One97 Communications, the company that operates Paytm.

Probe-hit Paytm hints at job cuts, asset sales
Paytm warned of job cuts and said it would trim non-core assets after reporting its first sales decline on record, reflecting fallout from a regulatory probe that curtailed much of the fintech’s business.

Lower middle class shows growing interest in ‘Credit on UPI’: Home Credit India study
A new study by Home Credit India reveals that lower middle-class consumers in the country are increasingly interested in using ‘Credit on UPI’, which allows instant credit access through UPI-enabled apps.

Zerodha's Nithin Kamath on increasing brokerage firm ads during IPL, ‘Often get asked why we don't advertise…’
Zerodha co-founder Nithin Kamath engaged with followers on the social media site X (formerly known as Twitter), stating that he saw increased advertisements by a brokerage firm during the Indian Premier League (IPL) matches.

Mutual Fund share in Indian stocks at record high, FPIs' at 12-yr low
Mumbai: Unabated flow of money into mutual fund schemes through SIPs is not only providing markets a cushion from erratic foreign fund selling, but it's also helping fund houses raise their holding. In the March quarter, MF holding in Indian listed companies reached an all-time high of 8.9%, while foreign investors' share dropped to a 12-year low of 17.9%, an NSE report showed. Out of total share held by MFs as of March 2024, passive funds' share remained steady at 1.7%, with the balance 7.2% was held by active funds, up 11 basis points (100bps = 1 percentage point) from the previous quarter, the report said.

Mutual funds’ incentive for small city outreach in limbo after a year
Mumbai: More than a year after suspending the beyond-top-30 incentives, the capital market regulator SEBI has shelved the decision to revive it, as the industry could not device effective checks and balances to prevent its misuse. Last February, SEBI directed mutual fund companies to keep the small-town linked sop of additional expense ratio in abeyance, citing a lack of a system-driven mechanism to check the abuse of the incentive structure.

Mutual funds: These 10 small-cap funds have delivered up to 36% annualised return in last 3 years
Buoyed by massive rally in smallcap and midcap stocks in the past about 3 years, small cap mutual funds have given investors stellar returns during the period. The overwhelming surge in the valuation of small and midcap stocks was seen as “froth” by market regulator SEBI, which cautioned investors against large inflows into these shares and also asked AMCs to protect investors’ interest.  

Policy continuity to be key for the return of FIIs: Mirae Asset MF CEO Swarup Mohanty
As foreign institutional investors (FIIs) continue their selling spree in India and look towards China on the back of its attractive valuation proposition, Swarup Mohanty, vice chairman and COO, Mirae Asset Investment Managers (India), told Vivek Kumar M that the trend could reverse once there is certainty about policy continuity in post elections. So far since April, FIIs have net sold nearly Rs 37,400 crore worth of shares in India. Mohanty also said that the ongoing volatility due to the general elections should be seen as an opportunity given India’s structural growth prospects.

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Sundaram MF's new CEO on why adaptability is key for active fund managers
Sundaram Mutual Fund (Sundaram MF) manages ₹56,666 crore worth of investor assets, according to Amfi data. As one of the oldest fund houses, Sundaram MF is the 20th largest in India by assets under management.

Incofin India Progress Fund invests $ 10 million in SAVE Group
New Delhi: Incofin India Progress Fund (IPF), a private equity fund, has invested of $10 million into SaGgraha Management Services, a wholly-owned subsidiary of SAVE specialising in microfinance loans through the Business Correspondent( BC ) model. 

CPPIB commits $400 million to two fund managers in FY24
CPPIB, Canada’s biggest pension fund manager, committed $400 million (Rs 3,320 crore ) to two fund managers in FY24, it said on Wednesday.

Cash at equity MFs sees sharp uptick