Page 5 - Finance

Shriram Finance gets $100 mn funding from ADB for inclusive financing

Money will be used improve the status of underserved communities in India, other objectives

Tata Power plans to raise up to Rs 2,000 cr via bonds to finance biz ops

Tata Power's gross debt marginally rose to Rs 49,535 crore as of September this year, from Rs 47,590 crore as of March

NIIF, India's first state-backed fund, faces questions from government

Critics inside and outside the government complain that NIIF - which handles about $4.3 billion in assets - lacks vision, decisiveness and the ability to win over investors

Govt green bonds can be a gauge for pvt sector fundraise: RBI Dy Governor

'Heartening to see banks increasing green exposure'

Shriram Finance to grow its retail fixed deposits portfolio by 25%

One of the country's largest NBFC Shriram Finance Ltd plans to grow its FDs from the current Rs 32,000 cr and talks are on to raise long term funds from international markets, said Vice Chairman

Irdai to introduce 'Bima Vahaks' to expand insurance force: Rakesh Joshi

BS BFSI Insight Summit 2022: The insurance companies are also in the process of developing state-level insurance plans in collaboration with state governments, Joshi added

Some of the world's biggest economies hunting for alternatives to US dollar

Smaller nations, including at least a dozen in Asia, are also experimenting with de-dollarization. Corporates around the world are selling an unprecedented portion of their debt in local currencies

Max Financial Services promoter offloads 1.7% stake for Rs 400 cr

Max Ventures Investment Holdings, a promoter of financial services firm Max Financial Services, on Wednesday offloaded 58.85 lakh shares in the company for Rs 400 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Max Ventures Investment Holdings sold 58,85,000 shares (1.7 per cent) of Max Financial Services. The shares were sold at an average price of Rs 679.2 per scrip, taking the aggregate value of transaction at Rs 399.70 crore. Following the stake sale, the shareholding of promoter have come down to 13.02 per cent from 14.72 per cent. Shares of Max Financial Services closed 1.67 per cent lower at Rs 688 apiece on NSE.

To woo customers, HDFC Bank aims to issue 1 mn credit cards every month

The bank wants to double the current pace of half a million new credit card issuances every month, according to Parag Rao, country head for payments business

Bond yields rise as debt auction sees weak demand; dip on weekly basis

The overall sentiment remained weak because of hawkish commentary from central bankers across the world, which dimmed the hopes of domestic interest rate cuts later in 2023, said a dealer at a bank

Fed's message on rate hold for 'some time' clashes with 2023 rate-cut bets

They're also likely to signal another 50 basis points of tightening next year, according to economists, and an expectation that once they reach that peak, they'll stay on hold through all of 2023

Fixed denominations vs token system: Why digital cash needs to feel real

If the payment market is cornered by a few powerful private-sector platforms, they may impose hidden charges and fees

Punjab National Bank plans Rs 1,000 cr AT-1 bond issue to shore up capital

The cost of paying coupon on tier-1 bonds, a form of debt, is less than servicing equity capital

Govt may extend bid submission deadline for stake sale in IDBI Bank

January 2023 could be new date following requests from transaction advisor

Banks need to scale up investments in technology, says RBI's MK Jain

Financial institutions must build capacities in analytics and HR, says central bank deputy governor

RBI announces extension on HTM bond books dispensation till March 2024

Central bank decision to provide cushion for banks on government bond investments

RBI introduces single-block-and-multiple debits functionality in UPI

Feature will make payments easier for e-commerce and investments in securities

Rally in PSU banks to sustain on higher margins, loan surge: Morgan Stanley

Brokerage raises price targets for non-SBI state-owned banks

Cooling prices give Reserve Bank of India space to slow interest-rate hikes

Das will announce the rate decision through a webcast at 10 am in Mumbai on Wednesday, and will address a press conference at 12 pm.

SBI personal banking loan book up Rs-5 trn mark, helped by digital push

Next Rs one trillion of non-home retail loans by Q3FY24