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

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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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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 changes loan rules: New norms likely to boost policy transmission, benefit existing borrowers, say experts

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SBI issues Electoral Bonds worth Rs 16,518 cr in 30 tranches

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