A debt default by the United States government is likely to occur in the second half of 2023, says Ralph Axel, a rates strategist at Bank of America. This would be the first time in history that the US would default on any of its obligations due to the debt-ceiling law. A debt default by […]
A debt default by the United States: Reality of 2023? Read More »
The retail digital rupee is in the form of a digital token that represents legal tender and would offer features of physical cash like trust, safety and settlement finality, according to RBI. Digital currency would bring in a lot of operational efficiency in the system and will foster financial inclusion, said Ajay Kumar Choudhary, executive
RBI Executive Director: Digital rupee a historic milestone Read More »
The Reserve Bank of India on Monday said it has imposed a penalty of ₹2.66 crores on Bank of Bahrain & Kuwait BSC, India. The apex bank penalised the banks for its operations for non-compliance with directions on cyber security framework. The Reserve Bank of India (RBI) also imposed penalties on 20 cooperative banks, including
RBI penalises Bank of Bahrain & Kuwait BSC; 20 co-op banks Read More »
Through innovation and the deployment of digital solutions outside of traditional banking, the collaboration with Gofrugal Technologies Pvt. Ltd strengthens DBS Bank India’s approach to modernizing SME banking. Gofrugal Technologies Pvt. Ltd., a platform that provides Omnichannel ERP solutions, and DBS Bank India announced their collaboration. The company helps enterprise customers, such as micro, small
DBS Bank India partners with Gofrugal Tech to empower SMEs towards ONDC Read More »
The Reserve Bank of India announced penalties against 13 cooperative banks on Monday for breaking regulatory norms. According to the RBI, fines are based on regulatory compliance shortcomings and are not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers The penalties range between ₹50,000
RBI slaps penalty on 13 cooperative banks for breaking regulatory norms Read More »
The formal lending sector including banks and NBFCs catered to less than 15% of the credit demand from micro, small & medium enterprises (MSME), according to a report on MSME lending. The ‘BLinC Invest MSME Lending Report 2022’ said that there is a credit gap of ₹25 trillion in the MSME sector that can be
Banks, NBFCs meet less than 15% of MSME credit demand Read More »
Private sector lender Yes Bank on Tuesday said its board has approved the allotment of 361.61 crore equity shares and 255.97 crore warrants to private equity majors – The Carlyle Group and Advent – following the Reserve Bank of India’s nod for the same. In a stock exchange filing, Yes Bank said, “Allotment of a
Yes Bank to allot shares and warrants to Carlyle Group and Advent International Read More »
The board of Digital financial services firm One97 Communications (OCL), which owns the Paytm brand, on Tuesday, announced a ₹850 crore share buyback scheme through the open market route to shore up its collapsing stock price. Paytm shares ended at ₹538.40 on BSE on Tuesday. Paytm announces ₹850 crore share buyback: The maximum size of
Paytm announces ₹850 crore share buyback Read More »
