Private sector lender Karnataka Bank has been authorised to collect direct and indirect taxes on behalf of the Central Board of Direct Taxes (CBDT) and […]
Tag: bfsi
Canara Bank, Bharat BillPay tie up for cross border bill payments for Indian diaspora in Oman
Canara Bank and NPCI Bharat BillPay Ltd (NBBL) have announced the launch of cross-border inward bill payment services for Indians based in Oman. NRIs can […]
RBI to stop banks from capitalising penal charges on loans defaults
The Reserve Bank of India (RBI) pulled up banks for overcharging borrowers in the guise of penal interest rates and has come up with proposals […]
UBS weighs retaining Credit Suisse unit serving India’s rich
UBS Group AG is considering retaining Credit Suisse Group AG’s private banking unit in India after the emergency rescue of its smaller rival last month, […]
Disguised payouts: Banks, insurers face GST notices
The goods and service tax (GST) authorities are set to issue show-cause notices to 29 insurance companies, a leading private bank, around five non-banking financial […]
Indian companies will face higher interest burden in FY24:India Ratings
Advantages to Indian companies due to lower interest rates and hence a reduction in debt are likely to be reversed in the current fiscal year […]
JICA, Citi to provide USD 125 mn to Indusind Bank for onlending to agri sector
Japanese lender JICA has teamed up with Citibank to provide a USD 125 million funding line to domestic private sector lender Indusind Bank. Indusind will […]
Venlo launches UPI-powered app for cross-border payments
Venlo, a neo-banking platform, has launched a UPI-powered app to provide faster cross-border payment experience for users. The app enables users, including expats and immigrants […]
RBI brings out norms for outsourcing of IT services
The Reserve Bank of India on Monday released master directions for the outsourcing of IT services by banks and non-banks that ensure that regulated entities […]
Retail loan securitisation rises 56% to Rs 1.76 lakh cr in FY23
Retail loan securitisations jumped a robust 56 per cent to Rs 1.76 lakh crore in the just concluded fiscal 2023, while that of wholesale rose […]