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PMI: India's services activity touches an eleven-year high of 59.2 in June

The jump in the services PMI corroborates the view that the services sector will lead the growth recovery in FY2023, says Aditi Nayar of Icra

RBI should intervene less, let rupee depreciate gradually: D Subbarao

In a Q&A, the former RBI Governor says the situation is very different from the Taper Tantrum and that the rupee has actually risen against some other hard currencies

RBI slaps penalties on Kotak Mahindra Bank, IndusInd Bank

The monetary penalty was imposed on IndusInd Bank as it failed to adhere to customer due diligence procedure in the accounts opened using OTP based e-KYC, in non-face-to-face mode

Good time to invest in debt funds as portfolio yields rise, say experts

Opt for a mix of shorter-duration, target maturity, and dynamic bond funds

Why central banks, including RBI, are raising lending rates aggressively

It is crucial to note that even though high interest rates combat inflation, the subsequent possibility of a decrease in demand may have a negative effect on the economic growth in the long run

Muthoot Finance gets RBI approval to open 150 new branches across India

Gold financing company says it will hire 600 more people for the expansion

Huge treasury loss staring at banks in June quarter

Will the RBI step in again to the rescue of the banks and ensure smooth sailing of the government's record borrowing plan this year?

Top Headlines: GST e-invoicing for firms, corporate earnings in FY23 & more

The central government is planning to make GST e-invoicing mandatory for companies with a turnover of Rs 5 crore and above, a government official said. Read more on this in our top headlines

SFBs' balance sheet growth raises quality concerns, says RBI report

Restructured standard advances remain higher than pre-pandemic levels, though below the peak of Sep 2021; their share was 3.5% of total advances as of March 2022

Large borrowers' loan accounts and bad loans decline for SCBs: RBI

According to RBI's Financial Stability Report, June 22, share of large borrowers, those having aggregate fund and non-fund based exposure of Rs 5 crore and above, has been declining in recent years

RBI pegs state govt market borrowing for July-Sept at Rs 2.1 trillion

Actual borrowings and state-wise breakup will be intimated 2-3 days prior to auction day; RBI to try and ensure auctions are held in non-disruptive manner considering mkt conditions

Govt watchful, mindful of impact of declining rupee on imports: Sitharaman

Depreciation of rupee makes India's imports costlier, while on the other hand exports become attractive.

Wait and watch: Industry players on 1% TDS on crypto investments in India

The 1 per cent TDS will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year, according to the Section 194S in the I-T Act (as per the Finance Act, 2022)

Big tech firms offering financial services pose risk to stability: RBI

Big techs can scale up rapidly and pose risk to financial stability, which can arise from increased disintermediation of incumbent institutions, it noted.

Robust credit growth continues, small and mid-size businesses gain

RBI data showed that credit to industry grew 8.7 per cent in May

Don't think today's situation calls for negative real rates: Jayanth Varma

Either inflation has to come down on its own or we will have to raise the rate, or it will be a combination of the two, says MPC member Varma

Cryptocurrencies are a 'clear danger': RBI governor Shaktikanta Das

Indian fintech industry value projected to hit $150 bn by 2025

Economic recovery gradual, uneven amidst global headwinds: RBI report

Corporate sales and profitability increasing and gross NPA of banks is at 6-year low

Rising interest rates won't impact housing demand: HDFC chairman Parekh

A home loan is for a long tenor and during this period there are bound to be both upward and downward interest rate cycles, he said

Credit growth to industry accelerates to 8.7% in May, shows RBI data

Credit growth to industry accelerated to 8.7 per cent in May 2022, while for agriculture and allied activities, the off-take increased by 11.8 per cent, according to RBI data released on Thursday. Data on sectoral deployment of bank credit for May 2022 has been collected from select 40 banks that account for about 93 per cent of the total non-food credit. Credit growth to industry accelerated to 8.7 per cent in May 2022 from 0.2 per cent in May 2021. The Reserve Bank further said that credit to medium industries grew by 49.3 per cent in May 2022 as compared with 47.9 per cent last year. "Credit growth to micro and small industries continued to perform well, registering accelerated growth of 33 per cent from 8.9 per cent, while credit to large industries recorded a growth of 1.9 per cent against a contraction of 3.1 per cent during the same period last year," it said. Within industry, credit growth to all engineering, beverage and tobacco, chemicals and chemical products, ...