YES BANK DIGITAL RUPEE
Top-rated Raincoats Under 500 Rupees for All Ages
Explore the latest and best quality range of Raincoats under 500 that are remarkably reliable for the rainy season, offering budget-friendly protection from precipitation. These affordable raincoats typically feature waterproof materials that keep you dry during showers or heavy rain. Their lightweight and packable design makes them easy to carry and store, ensuring you're always prepared for unexpected weather changes.
RBI tells banks to find ways to bridge the gap between credit and deposit growth
The meeting addressed various banking challenges including credit-deposit ratio, cybersecurity, and digital frauds. Governor Das emphasized the need for robust cybersecurity controls and customer awareness initiatives to curb digital frauds.
Indian rupee gains 3.5 paise on Tuesday
The 10-year benchmark government bond also traded flat, with yields closing at 6.98% on Tuesday, up just one basis point from the last close. Yields have been touching a low of 6.95% to 6.96% in the middle of the day, but again rise as the day progresses.
Yes Bank restructures workforce, lays off 500 employees in cost-cutting move
While the layoffs have happened across several verticals ranging from wholesale to retail, the branch banking segment saw a large impact, one person cited above said. The people sacked have been given severance pay amounting to three months’ salary. “Yes Bank has launched an internal restructuring exercise at the advice of a multinational consultant. So far, around 500 have been asked to go and we can see more sackings in the coming weeks,” a person aware of the development said.
Digital Rupee transactions slump after reaching initial RBI target
India's digital currency, the e-rupee, has seen a sharp decline in usage, dropping to 10% of its December peak, sources reveal. Initially boosted by incentives, daily transactions fell from 1 million to about 100,000 after these incentives waned. The Reserve Bank of India is now focusing on refining the technology and exploring new use cases.
Ecommerce firm Pop raises $2.4 million funding from India Quotient, others
Ecommerce firm POP closed a $2.4 million seed funding round led by India Quotient. They received approval as a Third-Party Application Provider from NPCI for UPI payments via the POPclub app. The funding will expedite initiatives including the POP UPI service for earning POPcoins. Bhargav Errangi aims to make POP the go-to platform for payments and shopping for young Indians.
- Go To Page 1
Q4 results: Stable costs boost India Inc. profits
Steady costs and firm domestic demand supported corporate performance in the March quarter.
FD interest rate up to 9.1%: 9 banks have revised fixed deposit terms, rates after new RBI rule
FD interest rates in June: The RBI announced the proposal to revise the definition of bulk fixed deposits. Here is a list of banks that have revised the date and updated their retail deposits from Rs 2 crore to Rs 3 crore.
RInfra to raise $350 mn via overseas bonds
Reliance Infrastructure plans to raise $350 million through FCCBs to repay debt and start electric power generation businesses.
Anil Ambani's Reliance Infra to raise USD 350 mn FCCB to repay rupee debt, expansion
The company has debt facilities in form of term loans on non-convertible debentures of Rs 2253 crore and Rs 703 crore respectively, according to a Care Rating report dated February 26 this year.
RBI unveils ambitious reform agenda for centenary celebrations in 2035, charts out 14-point action plan
The Reserve Bank of India aims to become a role model for central banks in developing countries by its centenary in 2035. Governor Shaktikanta Das outlined a 14-point plan, including enhancing India's global presence, positioning itself as a leader in monetary policy, and promoting financial inclusion. The plan also focuses on internationalizing the rupee, boosting credit availability, and addressing challenges from technologies like AI/ML.
AMCs, insurance stocks offering good money-making proposition: Deven Choksey
I believe that the market is going to remain positive. Investors are going to be remaining confident. Maybe these numbers are going to be forgotten after a couple of days once the ministries and the governments are formed.
CBDC usage soars 39-fold among retail users, plunges in wholesale
In the wholesale segment, the outstanding amount stood at ₹8 lakh in March 2024, from ₹10.6 crore last year, and in the retail segment, the amount climbed to ₹234 crore in March 2024, from ₹6 crore last year. India's CBDC, the Digital Rupee (e₹), is a digital form of its official currency, introduced after the FY23 budget.
New PoS deployment grows at slowest pace since demonetisation: RBI data
Industry insiders told us that while new PoS terminals are still being deployed, it’s mostly in organised and large format retail, which offer all payment forms. However, grocery shops, smaller stores and eateries are tilting towards QR code-based UPI transactions.
You can use PhonePe on your next trip to Sri Lanka
Indian fintech giant PhonePe has launched its UPI services in Sri Lanka, enhancing cross-border fintech connectivity. The event was attended by dignitaries including the Central Bank Governor and India's High Commissioner. This milestone partnership with LankaPay enables Indian visitors to make secure UPI payments in Sri Lanka, promoting digital transactions and financial integration between the two nations.
Election, Q4 earnings, and FII flows among 10 factors that will steer D-Street this week
Over 530 BSE-listed companies will announce their March quarter earnings this week, including DLF, GIC Housing Finance, INOX India, Jindal Steel & Power, Varun Beverages, Zomato, Bharti Airtel, Bharti Hexacom and Colgate-Palmolive (India).
Uber’s hyperlocal push; Paytm Bank’s bill pay biz transferred
Happy Thursday! Ride-hailing platform Uber is strengthening its hyperlocal deliveries from neighbourhood stores. This and more in today’s ETtech Morning Dispatch.
Brazilian payment company Ebanx set to start India operations with Yes Bank
Ebanx helps nearly 300 brands process payments in multiple countries across Latin America and Africa. It now wants to enter India, which will be its first market in Asia. It will offer payments infrastructure for global brands looking to sell to Indian consumers, who can use Ebanx to pay through the local currency and by using local payment methods.
Virtual RuPay credit card on UPI launched: Earn 8 reward points on every UPI payment of Rs 200; know features, other key details
YES Bank has partnered with ANQ, a Bengaluru-based financial service provider to unveil two unique co-branded credit cards — YES Bank ANQ Pi credit card and YES Bank ANQ Phi credit card. What are the features of these two new credit cards? Find out here? Find out here.
Stocks in news: Coal India, YES Bank, Coforge, Tata Technologies, Bajaj Finance, Adani Green
Stocks in news: Markets rebounded on Thursday. Coal India reports 26% net profit growth. YES Bank may see Carlyle Group stake sale. Coforge approves Cigniti Technologies acquisition. Titan, Adani Green, Britannia, MRF, Tata Tech, Godrej Properties in focus ahead of earnings.
RBI action on Kotak Mahindra Bank: Is your data in other banks safe?
Kotak Mahindra Bank: The Reserve Bank of India (RBI) took action on Kotak Mahindra Bank due to observance of serious deficiencies and non-compliances in the areas of data security and data leak prevention strategy, business continuity and disaster recovery rigour and drill, etc. So did the bank violate Digital Personal Data Protection Act, 2023?
Your preference for digital is leaving banks with a bigger bill
As more and more people in India take to paying digitally, banks are having to pick up a larger tab on account of rising costs of maintaining a competent IT system.
Fintechs seek clarity on digital currency tieups despite RBI blessing
Blockchain-based digital currency allows programmability of money. This means, in some cases, usage can be restricted to specific merchants only. This feature has caught the attention of the government, which is considering using it for targeted subsidy disbursements and preventing unauthorised access or misuse.
Letting loose the non-resident rupee
Plans to elevate the rupee to a global free-floating currency are gaining momentum once more. The RBI's 'Report on Currency and Finance 2020-21' initiated this push, envisioning the rupee's ascent as an international currency. The timing of the move looks quite apt from a macroeconomic perspective.
RBI proposes distribution of CBDC through non banks; seeks to broaden retail access to digital currency
The Reserve Bank of India (RBI) is expanding the usage of Central Bank Digital Currency (CBDC) by allowing distribution through Non-bank Payment System Operators. CBDC pilots in Retail and Wholesale segments are ongoing with 4.3 million retail users and 4 million merchants. The RBI aims to enhance access by enabling non-bank operators to offer CBDC wallets, testing the platform's resiliency.
Digital Rupee: RBI widens scope of CBDC; non-banking payment companies to facilitate transactions
Digital Rupee transaction: The Reserve Bank of India has proposed that CBDC (Central Bank Digital Currency) or, the eRupee, to be accessible to broader sectors of customers.
Need to ensure Rupee gains currency globally: PM Modi
Modi emphasizes RBI's role in globalizing the rupee, enhancing India's economic growth. Efforts include digitizing payments, improving banking sector, exploring AI, ML, and supporting emerging sectors like tourism and space projects for future economic development.
ET analysis: RBI shows the fist to build 'future proof' digital financial ecosystem
Recent penalties on financial intermediaries by the RBI under Governor Shaktikanta Das reflect the regulator's intolerance towards non-compliance. The actions highlight serious violations, including non-compliance with regulations and deviation from good governance. The RBI is focused on improving compliance and transparency in the financial sector.
Load More
