EbixCash up for sale but buyers not in sight :

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 EbixCash up for sale but buyers not in sight  : In less than three months of filing for bankruptcy in the US, Ebix is said to have put its Indian operations on the block. The decision to sell EbixCash follows the grime or no prospects left for listing the Indian operations. In December 2022, EbixCash has filed its papers for ₹6,000 crore of initial public offering (IPO). Sources say the IPO plans didn’t glide smoothly even with the market regulator as SEBI had sought for further information on litigations surrounding the company. An updated red herring prospectus hasn’t been filed since.- Business Line.



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SBI, Bank of Baroda gets encouraging response for digital rupee

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Banking / Financial News at a Glance  🍒       SBI, Bank of Baroda gets encouraging response for digital rupee : Public sector lenders State Bank of India (SBI) and Bank of Baroda has received encouraging response from customers for the Central Bank Digital Currency (CBDC) or digital rupee. Country’s largest lender has recorded over 900,000 transactions from 400,000 lakh users since December 1 last year. The number of CBDC users for Bank of Baroda has reached 250,000. “The pilot of CBDC has been successful. We have 900,000 plus transactions from December 1 last year and have onboard over 40,000 merchants,” Balaji Rajagopalan, Chief Technology Officer, SBI said on the sidelines of banking conference FIBAC 2023 organised by FICCI. - financial express. 🍒       UPI can be moved to cloud network, says SBI MD : The Unified Payments Interface (UPI) application can be moved to public cloud network considering volume of UPI payments that are processed by th...
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CAIIB Rural Banking Module A Unit 7 : Issues Concerning Rural Areas (New Syllabus)

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  CAIIB Rural Banking Module A Unit 7  : Issues Concerning Rural Areas  (New Syllabus) IIBF has released the New Syllabus Exam Pattern for CAIIB Exam 2023. Following the format of the current exam, CAIIB 2023 will have now four papers. The CAIIB Rural Banking includes an important topic called  “Issues Concerning Rural Areas ”.  Every candidate who are appearing for the CAIIB Certification Examination 2023 must understand each unit included in the syllabus. In this article, we are going to cover all the necessary details of CAIIB Rural Banking   Module A   Unit 7 : Issues Concerning Rural Areas ,  Aspirants must go through this article to better understand the topic,  Issues Concerning Rural Areas  and practice using our Online Mock Test Series to strengthen their knowledge of Issues Concerning Rural Areas.  Unit 7 : Issues Concerning Rural Areas Components Of Rural Development Rural development has several components such...
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Bank of Baroda board to finalize tranche of debt instruments for affordable housing

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🍒     Bank of Baroda board to finalize tranche of debt instruments for affordable housing; stock trades flat : Shares of Bank of Baroda Limited traded flat, gaining a marginal 0.2 percent to Rs 198 in morning trade on November 16, extending gains for the seventh trading session in a row on the bourses. The company declared that the lender's capital raising committee will discuss and approve the issuance of debt instruments to raise tier I and tier II capital.  "The meeting of the capital raising committee of our bank is scheduled to be held on November 18 to discuss and finalize the issuance of Tier I and Tier II debt capital instruments and long-term bonds for the financing of infrastructure and affordable housing within the board-approved capital raising plan", the bank said in an exchange filing on November 15. - Moneycontrol. 🍒     UCO Bank seeks CBI help in Rs 820 crore money transfer mess : State-run UCO bank has sought the intervention of the ...
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MONEY EXCEL

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MoneyTap MoneyTap, essentially is a fintech lending company that offers quick personal loans in India. Shiv Nanda, a financial analyst, writes blogs for MoneyTap where he helps people understand the basics of financial planning, shares tips on money-saving, and offers ideas to break bad money habits to help you get on a path of financial success. Money Excel Through Money Excel, Shitanshu educates Indian consumers on the importance of financial planning and helps them excel in managing various financial products that involve personal finance, real estate, insurance, stock market, and more. Basunivesh Basavaraj Tonagatti manages Basunivesh, one of the best financial blogs in India. The blogs cover various topics on the basic problems people face in today’s financial world about insurance, investment, tax planning and more. JagoInvestor Founded by Manish Chauhan, Jago Investor shares valuable and important information about investment, tax planning, mutual funds, and money-saving. GoodRe...
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Theory of Probability

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  CAIIB Paper 1 (ABM) Module A Unit 6: Theory of Probability  (New Syllabus)  IIBF has released the New Syllabus Exam Pattern for CAIIB Exam 2023. Following the format of the current exam, CAIIB 2023 will have now four papers. The CAIIB Paper 1 ( Advanced Bank Management ) includes an important topic called  “Theory of Probability ”. Every candidate who are appearing for the CAIIB Certification Examination 2023 must understand each unit included in the syllabus. In this article, we are going to cover all the necessary details of CAIIB Paper 1 (ABM) Module A (Statistics  )   Unit 6 : Theory of Probability ,  Aspirants must go through this article to better understand the topic,  Theory of Probability  and practice using our Online Mock Test Series to strengthen their knowledge of Time Series.  Unit 6 : Theory of Probability Introduction To Probability Probability means chance/s or possibility of happening of an event. For example, suppose...
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Four PSBs may get approval to raise funds in H1 of FY25

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       Four PSBs may get approval to raise funds in H1 of FY25 : India may allow at least four state-owned banks to raise funds or expand their public float in the first half of the next fiscal year to accelerate their lending business and improve public participation, said people familiar with the development. The four lenders include Punjab National Bank (PNB), which is targeting a follow-on public offer (FPO) by September, and Central Bank of India, which is seeking approval for an offer for sale (OFS) to expand public float, the people said. An official and one of the persons cited above told ET that the government had received a proposal from the Central Bank of India to launch an offer for sale. The government currently holds a 93.08% stake in the state-owned lender. - economic times. 🍒         Finance Ministry aims to transfer stressed assets worth ₹1 lakh crore to NARCL by March 2024, says DFS Secretary Vivek Joshi : Finance Ministry...
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HDFC Bank merger catalyzed loan growth, d the loan growth of the combined entity,

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  HDFC Bank's merger catalyzed loan growth, driving the loan growth of the combined entity, which triggered the need for the private bank to raise funds, said MD and CEO Sashidhar Jagdishan. “There is a need to mobilise sustainable deposits to replace the maturing bonds,” Jagdishan said at an investor conference hosted by Goldman Sachs on February 19. The bank’s deposit growth will not match loan growth overnight but will rather follow a glide path, he said. "We realise that we have preponed our loan growth and so we need a transition time to warm up the engine and raise sustainable funding which will substitute some of the bond maturity," said Jagdishan. He further stated that this will enable the bank to match its share of loans and deposits. Despite this transition, the bank aims to maintain financial stability and continue its trajectory of profitable growth, said Jagdishan. - moneycontrol.
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RBI grants payment aggregator licence to Mswipe Technologies :

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 RBI grants payment aggregator licence to Mswipe Technologies : The Reserve Bank of India (RBI) has granted the payment aggregator (PA) licence to digital payments platform Mswipe Technologies, which joins the likes of Zomato, Decentro, Zoho, Juspay  and Razorpayto get the regulator's nod to offer the service. The licence comes almost two years after the company received an in-principle nod in the middle of 2022. "The payment aggregator licence solidifies the company's objective to enhance its suite of offerings while delivering secure, efficient, and user-friendly payment technology to banking partners, enterprises, and merchants across categories," the company said in a statement on February 19. - moneycontrol. 🍒           Religare Finvest case: Rs 400 crore diverted to Hong Kong via ICDs :  A money laundering investigation by the Directorate of Enforcement (ED) into Religare Finvest (RFL) has revealed that ₹400 crore was allegedly diverte...
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RBI changes loan rules: New norms likely to boost policy transmission, benefit existing borrowers, say experts

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  RBI changes loan rules: New norms likely to boost policy transmission, benefit existing borrowers, say experts Earlier, the spread charged to a borrower could be altered once every three years. The Reserve Bank of India’s (RBI) decision to allow banks to reduce the spread component on loans offered before three years will benefit existing customers and further aid monetary policy transmission , experts said. To benefit existing borrowers, the RBI, on Monday, said, “…the other spread components may be reduced by banks for a loan category earlier than three years for customer retention, on justifiable grounds, in a non-discriminatory manner, and in terms of the bank’s policy”. The new norms will take effect on October 1. Spread refers to the additional percentage that lenders add to the benchmark interest rate, such as the external benchmark rate or the marginal cost of funds-based lending rate (MCLR) by banks, when determining the final lending rate to a borrower. Banks typicall...
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SBI issues Electoral Bonds worth Rs 16,518 cr in 30 tranches

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     SBI issues Electoral Bonds worth Rs 16,518 cr in 30 tranches : State Bank of India (SBI) has issued Electoral Bonds worth Rs 16,518 crore in 30 tranches since the inception of the scheme in 2018, Parliament was informed on Monday. The objective of the Electoral Bond Scheme is to ensure clean tax-paid money is coming into the system of political funding through proper banking channels, Minister of State for Finance Pankaj Chaudhary said in a written reply in Lok Sabha. "The total value of Electoral Bonds purchased (Phase-I to Phase-XXX) from State Bank of India is about Rs 16,518 crore. No GST or any other taxes/cess are charged from the purchaser on the purchase of Electoral Bonds," he said. - moneycontrol. 🍒         SBI shares fall as Q3 earnings miss estimates : Shares of State Bank of India (SBI) traded lower on February 5 after the public sector bank's third-quarter earnings fell short of Street estimates, dragged by a high wage and pens...
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