RBI retains inflation forecast at 6.7% for FY23 while expressing caution about headwinds despite recent correction in crude prices.
RBI plans to extensively use advanced analytics, artificial intelligence and machine learning to analyse its huge database and improve regulatory supervision on banks and NBFCs.
There will be no charge for RuPay credit card use on UPI for transactions up to Rs 2,000, NPCI said
Govt slashes borrowing for FY23 by Rs 10,000 crore, partly helped by buoyant tax collections which would be adequate to support Rs 44,762 crore of extra expense on free ration distribution.
SBI and others raise lending rates while ICICI also ups interest on deposits, indicating northward movement of interest rates on both sides of spectrum amid tightening of monetary policy by RBI to tame inflation.
Rupee plunges to a new low against US dollar while Sensex sheds 953.70 points amid fears of prolonged rising inflation, successive rate hikes and looming recession in advanced economies.
The co-branded credit card will allow consumers to get 10% cashback across all Samsung products and services; this will be over and above existing Samsung offers, on both EMI and non-EMI transactions.
Axis Bank signs non-binding term sheet to invest Rs 49.9-Rs 69.9 crore for 9.94% stake in Go Digit Life Insurance as part of its plan to tap into the fast-growing insurance market.
Mahindra & Mahindra Financial Services expects repossession activity of vehicles to reduce temporarily following RBI’s directive asking it to stop using third-party services for loan recovery.
India's forex reserves fall to $545.652 bn in week ended 16 September, the lowest since 2 October 2020; rupee dips to new low against dollar.
RBI’s directive follows days after Mahindra Finance’s outside loan recovery agents allegedly crushed a 27-year-old pregnant woman in Hazaribagh district in Jharkhand to death under the wheels of a tractor.
Central Bank of India is last bank to exit RBI’s PCA list as it improves in various parameters; agrees to comply with norms of minimum regulatory capital, net NPA and leverage ratio on ongoing basis.
IBBI allows part sale of assets of a company undergoing insolvency resolution; move to fetch better value for stressed assets and maximise recovery.
In Swiss Challenge auction, no competing bids were received against base bidder JC Flowers ARC; Yes Bank to pick up 19.99% stake in the ARC.
American Express Banking Corp has appointed Sanjay Khanna as the chief executive officer and country manager for India.
