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Our aim is to keep ‘Arjuna’s eye’ on inflation: RBI Guv Shaktikanta Das

November 2, 2022 6:26:44 pm

"No one can match the prowess of Arjuna, but our (RBI's) constant effort is to keep an Arjuna's eye on inflation," Das said at the annual FIBAC conference of bankers here.

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E-rupee launch a landmark moment in the history of currency: RBI Guv Shaktikanta Das

November 2, 2022 12:34:22 pm

RBI Digital Currency: Speaking at FICCI's Banking Conference - FIBAC 2022, Reserve Bank of India (RBI) Governor Shaktikanta Das said that the RBI wants to iron out all aspects of Central Bank Digital Currency (CBDC) before launch. He added that the central bank hopes to launch digitised Kisan Credit Card loans in a full fledged manner by CY 2023.

Secondary market transactions in govt securities: E-rupee used to settle Rs 275 cr govt bond trades

November 2, 2022 7:17:01 am

Nine participating banks executed 24 trades worth Rs 140 crore in 7.38 per cent 2027 bond, 23 trades totalling Rs 130 in 7.26 per cent 2032 bonds and one transaction in 6.54 per cent 2032 bond, according to data available with Clearing Corporation of India.

EPS 95 Pension Scheme: What is EPS-95? Who is eligibile for it and what benefits does it have?

November 2, 2022 10:35:30 am

EPFO News, EPS 95 Pension Today News 2022: Employees' Pension Scheme 1995 or EPS-95 was introduced in November 19, 1995 by the Employees’ Provident Fund Organisation (EPFO).

RBI to kickstart e-rupee pilot in G-Secs today

November 1, 2022 5:10:31 am

Nine banks — State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC — have been identified for participation in the pilot, the RBI said.

Banks’s role critical in providing best intermediation services: RBI Patra

November 1, 2022 5:05:01 am

He said the impetus for transformation has come calling as India – already the fifth largest economy of the world – prepares to be among the fastest growing economies and an engine of global growth.

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First pilot of Digital Rupee to commence on Tuesday: RBI

October 31, 2022 5:49:06 pm

The use case for the pilot is settlement of secondary market transactions in government securities, the RBI said in a statement on Monday.

Just 2 days remain to invest in SBI Utsav Deposit scheme: Here’s what you need to know

October 26, 2022 3:00:30 pm

SBI Utsav Special Fixed Deposit (FD) Scheme 2022: SBI's ‘Utsav’ Deposit scheme is a special term deposit scheme which is available for a limited time period. Under this scheme, the bank is offering an interest of 6.10 per cent on fixed deposits (FD) with a tenor of 1000 days.

24-member IRDAI panel to develop insurance cover for rural population

October 26, 2022 12:05:57 am

While the proposed cover will be a benefit based / parametric structure, called Bima Vistaar, the IRDAI has also asked the panel, which will be headed by Thomas M Devasia, Member (non-life) o IRDAI, to recommend a regulatory framework for the cover.

Kotak Mahindra Bank Q2 net up 27%

October 23, 2022 8:54:43 am

Net interest income (NII) for the second quarter increased to Rs 5,099 crore from Rs 4,021 crore in the corresponding quarter of the previous fiscal. Net interest margin (NIM) improved to 5.17 per cent from 4.45 per cent.

At Rs 7,558 cr, ICICI Bank’s Q2 net profit jumps 37%

October 23, 2022 8:45:29 am

On a consolidated basis, the lender’s net profit increased by 31 per cent year-on-year to Rs 8,007 crore from Rs 6,092 crore in the second quarter of FY2022.

Yes Bank’s Q2 net down 32%

October 23, 2022 8:46:22 am

This fall in profit was due to Rs 750 crore of non-performing asset (NPA) ageing related provision predominantly in two accounts.

Forex reserves decline by $4.5 bn

October 23, 2022 8:47:24 am

In the previous week ended October 7, the reserves rose to $532.86 billion after an accretion of $204 million.

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Internationalisation of rupee has risks but they are unavoidable: RBI deputy governor

October 23, 2022 8:33:17 am

Internationalisation of the rupee is a process that involves increasing use of the local currency in cross-border transactions. It involves promoting the rupee for import and export trade and then other current account transactions followed by its use in capital account transactions.

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At Rs 5,330 cr, Axis Bank Q2 net profit rises by 70%

October 21, 2022 3:45:28 am

The bank's managing director and CEO Amitabh Chaudhry said the transaction is expected to complete by the end of the fourth quarter of fiscal 2023.

SBI slashes savings bank deposit rate by 5 basis points

October 18, 2022 12:39:46 am

The revised rate is applicable for balances less than Rs 10 crore, according to the bank's website.

Irdai penalises Axis Bank for making undue gains in Max Life deal

October 18, 2022 7:36:49 am

The promoters of the insurer had been engaging in transfer of shares of the insurer to Axis Bank at a price, which is substantially lower than the fair market value and subsequently buying the same shares from Axis Bank at a substantially higher price, IRDAI said.

Fight against inflation will be dogged, prolonged: RBI article

October 17, 2022 10:02:45 pm

Retail inflation spiked to 7.41 per cent in September, remaining above RBI's upper tolerance level of 6 per cent for the ninth month in a row.

Festive Sale | Credit Card Offers | Diwali Sale

Festive shopping tip: How to use your credit card sensibly?

October 18, 2022 10:59:04 am

Diwali Festive Sales, Credit Card Offers: Checks and balances are required while using credit cards, as festive shopping may leave you with a lengthy shopping bill.

State Bank of India, HDFC Bank, ICICI Bank, Punjab National Bank, Business news, Indian express business news, Indian express, Indian express news, Current Affairs

Banks launch offers to attract customers, boost credit growth amid rate cycle uptrend

October 16, 2022 3:43:56 am

Bank credit grew at 16.4 per cent to Rs 126.3 lakh crore in the fortnight ended September 23, 2022.

At Rs 10,605.8 crore, HDFC Bank Sept quarter net profit jumps 20.1%

October 16, 2022 3:14:34 am

On a standalone basis, the largest private sector lender's net profit rose by over 20.1 per cent to Rs 10,605.78 crore as against Rs 8,834.31 crore in the year-ago period and Rs 9,196 crore in the preceding June quarter.

Govt links wage hike for PSU insurance staff with performance

October 10, 2022 11:29:09 pm

With the 12 per cent hike along with five years of arrears, wage bill for National Insurance will be around Rs 2,177 crore, Rs 2,080 crore for New India Assurance (NIA), Rs 2,135 crore for Oriental Insurance and Rs 1752 crore for United India Insurance.

Bank of Maharashtra raises lending rate by 20 bps; EMIs to become costlier

October 10, 2022 2:36:44 pm

The benchmark one-year MCLR will be 7.80 per cent from Monday, as against 7.60 per cent.

International trade in Rupee: Big banks drag feet on mechanism

October 11, 2022 5:55:26 am

Though banks claim that they are still waiting for clearances from the RBI, the rupee trade is yet to kickstart for all practical purposes. The trade with Russia is done more at the country level and bulk of the business relates to oil imports with exports falling after the Ukraine war started.

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RBI to launch e-rupee pilot soon, can be based on token or account

October 8, 2022 6:38:48 am

E-rupee is akin to sovereign paper currency but takes a different form, exchangeable at par with the existing currency and will be accepted as a medium of payment, legal tender and a safe store of value, the central bank said.