Alternative investment avenues are becoming more attractive to retail customers, the Reserve Bank of India (RBI) said while unveiling the monetary policy on Thursday, August 08
Posts in category Business Standard
RBI enhances limit for tax payments through UPI from Rs 1 lakh to Rs 5 lakh, introduces facility of “Delegated Payments” in UPI (08-08-2024)
The Reserve Bank of India stated today the transaction limit for UPI is Rs 1 lakh except for certain category of payments which have higher transaction limits. It has now been decided to enhance the limit for tax payments through UPI from Rs 1 lakh to Rs 5 lakh per transaction. This will further ease tax payments by consumers through UPI. It is also proposed to introduce a facility of “Delegated Payments” in UPI. This would enable an individual (primary user) to allow another individual (secondary user) to make UPI transactions up to a limit from the primary user’s bank account without the need for the secondary user to have a separate bank account linked to UPI. This will further deepen the reach and usage of digital payments.
Reserve Bank proposes to create public repository of digital lending apps (08-08-2024)
The Reserve Bank of India stated today that it has taken several measures for the orderly development of the digital lending ecosystem in India. As a further measure in this direction and to address the problems arising from unauthorised digital lending apps (DLAs), the Reserve Bank proposes to create a public repository of DLAs deployed by its regulated entities. The regulated entities (REs) will report and update information about their DLAs in this repository. This measure will help the consumers to identify the unauthorised lending apps.
Indices erase all losses; pharma shares advance (08-08-2024)
At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 86.13 points or 0.11% to 79,554.14. The Nifty 50 index added 19.70 points or 0.08% to 24,317.20.
Here’s why Abbott India stock price surged 5% on August 8; details here (08-08-2024)
The uptick in the pharma company’s stock price came after it posted a healthy set of numbers in the June quarter of financial year 2025 (Q1FY25).
Tata Motors stock rises post Moody’s ratings upgrade, positive outlook (08-08-2024)
Moody’s said Tata Motor’s two-notch rating upgrade with a positive outlook follows the company’s sustained track record in achieving revenue growth, improving profitability and reducing debt.
Banks facing challenges on funding front with deposits trailing loan growth (08-08-2024)
Reserve Bank of India Governor Shaktikanta Das stated today that alternative investment avenues are becoming more attractive to retail customers and banks are facing challenges on the funding front with bank deposits trailing loan growth. As a result, banks are taking greater recourse to short-term non-retail deposits and other instruments of liability to meet the incremental credit demand. This may potentially expose the banking system to structural liquidity issues.
NSE SME Dhariwalcorp makes a strong debut (08-08-2024)
Shares of Dhariwalcorp were quoting at Rs 142.50 on the NSE, a premium of 34.43% compared with the issue price of Rs 106.
Balaji Amines drops as Q1 PAT slides 18% YoY to Rs 43 cr (08-08-2024)
Balaji Amines tumbled 5.59% to Rs 2,258.85 after the company’s consolidated net profit declined 17.90% to Rs 43.29 crore in Q1 FY25 as against Rs 52.73 crore posted in Q1 FY24.
Incredible Industries Ltd leads gainers in ‘B’ group (08-08-2024)
3P Land Holdings Ltd, SEL Manufacturing Company Ltd, Rajdarshan Industries Ltd and Maha Rashtra Apex Corporation Ltd are among the other gainers in the BSE’s ‘B’ group today, 08 August 2024.