India 10-year bond yield hits 4-month low on easing inflation outlook

India 10-year bond yield hits 4-month low on easing inflation outlook

MUMBAI – India’s 10-year government bond yield declined in early trade on Monday, falling below the critical 7.15% mark to a near 4-month low, as prospects of lower inflationary pressures powered bullish bets. The 10-year benchmark bond yield was at 7.1350% as of 10:00 a.m. IST, following its previous close of 7.1791%. The yield eased … Read more

Samman RuPay Credit Card: IndusInd Bank floats UPI-enabled cards for government employees; Check details

Samman RuPay Credit Card: IndusInd Bank floats UPI-enabled cards for government employees; Check details

IndusInd Bank on Tuesday launched its UPI-enabled IndusInd Bank Samman RuPay Credit Card, in association with with National Payments Corporation of India (NPCI) especially for government sector employees. The cards have been launched for government sector employees to provide them with a range of exclusive benefits and enhance their overall banking experience. The Samman RuPay … Read more

RBI seen using fund injections to lower money market rates

RBI seen using fund injections to lower money market rates

Mumbai: Amid discussions with bankers over elevated funding costs and operational challenges brought about by liquidity deficit, the Reserve Bank of India (RBI) has sought to cool money market rates by conducting regular short-term fund injections after a long hiatus. “Banks have individually communicated with the RBI after the liquidity deficit widened significantly at the … Read more

UPI's increased transfer limit for hospitals will be applicable from January 10: NPCI

UPI's increased transfer limit for hospitals will be applicable from January 10: NPCI

The National Payments Corporation of India (NPCI) has asked its members to comply with the Reserve Bank of India’s (RBI’s) decision to increase the UPI transaction limit to Rs 5 lakh for hospitals and educational services by January 10. The NPCI has instructed banks, payment service providers (PSPs), and UPI applications to increase transaction limits … Read more

Bank locker agreement: What will happen if you don’t sign revised locker agreement by December 31?

Bank locker agreement: What will happen if you don’t sign revised locker agreement by December 31?

The Reserve Bank of India had set December 31, 2023, as the deadline for all banks to get all locker holders to sign a revised bank locker agreement. The central bank has specified that bank locker holders are required to endorse a revised version supplied by their respective banks and ensure its submission before the … Read more

Year ender 2023: UPI transactions rose 147% in 5 years. A look at new features announced this year

Year ender 2023: UPI transactions rose 147% in 5 years. A look at new features announced this year

UPI transactions in 2023: India has witnessed an exceptional surge in Unified Payments Interface (UPI) transactions in 2023. In FY2022-23, 8,375 crore transactions were reported up from 92 crore transactions in FY 2017-18, showcasing a compound annual growth rate (CAGR) of 147% in terms of volume. UPI has emerged as a significant player in India’s … Read more

Indian banks strong enough to face adverse macro and credit stress: RBI

Indian banks strong enough to face adverse macro and credit stress: RBI

Indian banks are strong enough to withstand adverse macroeconomic and credit stress without compromising on the regulator-mandated capital position, but the wide adoption of technology and innovation are threatening financial stability, requiring regulators’ attention, the Reserve Bank of India said. Perception of riskiness of the Indian banking system has improved in relation to the global … Read more

RBI may not have to drain cash further as core liquidity declines

RBI may not have to drain cash further as core liquidity declines

Mumbai: The Reserve Bank of India need not have to tighten liquidity any further as a metric cited by the central bank has fallen below levels that could stoke inflation, potentially paving the way for Mint Road to effectively deliver a rate cut by letting market rates ease from their current elevated levels. As of … Read more

Oops! Did you make the wrong bank transfer? Here's what to do next to get your money back

Oops! Did you make the wrong bank transfer? Here's what to do next to get your money back

Banking has undoubtedly transformed in the groundbreaking digital age, with financial transactions taking seconds to complete. However, alongside this convenience comes the vulnerability to human errors. A slip of a digit, an incorrect account number, or an identical name can sometimes result in a harrowing wrong bank transfer. This can be an unnerving experience, but … Read more

Sovereign Gold Bond 2023-24 tranche III: Here's how SGBs are taxed

Sovereign Gold Bond 2023-24 tranche III: Here's how SGBs are taxed

The Centre has recently launched the third series of Sovereign Gold Bonds (SGBs), which is pitched as a lucrative alternative to buying physical gold, for this financial year. The Sovereign Gold Bond Series 2023-24 Series III subscription period opened on December 18 and will close on December 22, 2023. Therefore, the date of issuance in … Read more