Banks See Decline in Savings Bank Deposits and Accretion in FDs, Says RBI Data
Banks are witnessing a shift in deposits from savings accounts to fixed deposits (FD) whilst credit growth is gathering steam. Data from the fortnight reporting...
Tag : RBI
Indian Rupee Falls Below 81 Mark Against US Dollar for First Time
The Indian rupee fell below the 81 mark against the dollar for the first time on Friday, hitting a record low, while the 10-year bond...
Rupee Hits Record Low as Dollar Climbs to 20-Year High
The dollar climbed to a fresh two-year high, and the rupee fell to a record low early Thursday after the Federal Reserve raised interest rates...
Fino Payments Bank Expands Branchless Banking Points in Northeast
Officials said Fino Payments Bank is expanding branchless banking locations in northeastern states to expand facilities in remote corners, especially in the region’s difficult terrain....
Indiabulls Housing Finance Hikes Lending Rate by 10 Bps
On Thursday, Indiabulls Housing Finance (IBHFL) said it would raise the reference rate for all loans by ten basis points from Thursday, September 15. The...
Fitch Slits India’s GDP Growth Forecast to 7% in FY23
Fitch Ratings has reduced its growth forecast for the current fiscal year to 7% from the previous estimate of 7.8%. The rating agency also cut...
Bank FDs with Higher Interest Rates Than RBI Floating Rate Bonds
After the RBI started raising the repo rate, many banks raised their fixed deposit rates, passing on the gains to customers. However, only a handful...
Indian Overseas Bank and Bank of Baroda Raise Lending Rates
Indian Overseas Bank increased the marginal cost of the funds-based lending rate (MCLR) by ten basis points. “A similar amount revised the two-year and three-year...
PhonePe Tokenises 14 Million Cards Ahead of RBI’s September 30 Deadline
PhonePe said Thursday that it had flagged 14 million credit and debit cards on its platform by the Reserve Bank of India’s (RBI) information security...
Yes Bank Up 35% in 3 Months, Shares Hit 20-Month High on Improved Outlook
Shares of Yes Bank hit a fresh 20-month high of Rs 18 in intraday trade on Thursday, rising 4% amid heavy BSE trading. Shares of...