Previously, Indian residents planning to invest abroad were required to open bank accounts in foreign jurisdictions before accessing global equity markets. Similarly, parents financing their children’s foreign education had to initiate the process of opening a foreign bank account.
Month: July 2024
RBI cautions banks on management of internal accounts
Swaminathan urged CFOs to invest in technology and data analytics which would empower them to provide more accurate and real-time financial insights.
SBI launches online loan against mutual funds through Online Banking & YONO App
SBI becomes the first PSB to provide an end to end digital loan against mutual fund units
Loan against MF available for MF scheme of all the AMCs registered with CAMS
NPCI International partners with QNB to launch UPI Payments in Qatar
Indians travelling to Qatar will soon be able to make QR Code-based UPI merchant payments through QNB merchant network
Mumbai, July 11, 2024:
Piramal Finance secures $100 Million loan to support social impact projects
Standard Chartered Bank is the Social Loan Coordinator for this transaction
News Brief| Canara Bank pays Rs 1838 crore dividend to government, BoI Rs 935 crores
For the full year 2023-24, Bank of India’s net profit jumped by 57%, which went up from Rs. 4,023 crores in FY23 to Rs. 6,318 crores for FY24.
Proposed IBC amendment on guarantees to aid NPA recovery, says India Ratings
In a nutshell, the amendments state that a resolution plan shall not automatically release guarantors from their liabilities
SBI raises Rs10,000 cr at 7.36% through infrastructure bond issue
The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment.
BNW Exclusive: Bank privatisation unlikely to come up in Budget 2024-2025
Earlier, reports had emerged that the Government is considering a list of banks to privatise in this round drawing comfort from the healthy market sentiments and reform-intent. But, a top government official said this is unlikely to happen this time.
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