FPIs quizzed on 'loans' for trading

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 FPIs quizzed on 'loans' for trading : Several foreign portfolio investors (FPIs) have been asked by the Indian tax office on whether they have borrowed money to trade on stock exchanges. It’s unclear why the information was sought, but the Income Tax (I-T) department has directed these offshore funds to disclose the identities of the lenders, the latter’s source of money, and the nature of agreement between the two parties. The move to fish out such information could well be to trace any possible and indirect links between overseas portfolio managers with Indian companies and promoters, feel some of the tax and finance professionals. - economic times.

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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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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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Paytm nodal account: Axis Bank to get “fee and float” boost

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Bank of Baroda board to finalize tranche of debt instruments for affordable housing

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RBI grants payment aggregator licence to Mswipe Technologies :

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CAIIB Rural Banking Module A Unit 7 : Issues Concerning Rural Areas (New Syllabus)

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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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Four PSBs may get approval to raise funds in H1 of FY25

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