 "Bank of Baroda hikes lending rates by 5 basis points across three tenures")
State-run lender Bank of Baroda has increased its marginal cost of fund-based lending rate (MCLR) by 5 basis points across three tenures.
The one-year MCLR has risen to 8.85 per cent, while the six-month and three-month MCLR rates have been increased to 8.65 per cent and 8.45 per cent, respectively. Most non-retail loans are linked to the one-year MCLR.
The Reserve Bank of India (RBI), in its April review of the monetary policy, decided to keep the policy repo rate unchanged at 6.5 per cent. The RBI highlighted that the monetary transmission due to a 250 basis points increase in the repo rate since May 2022 has been incomplete, and it expects further rate adjustments by banks. Last month, HDFC Bank, the country's largest private sector lender, raised its MCLR on a few tenures by 5 basis points.
CAMS gets RBI nod to operate as payment aggregator
Computer age management services (CAMS) on Wednesday informed the stock exchanges that the Reserve Bank of India (RBI) has authorised the company to operate as an online payment aggregator. The company received an in-principle authorisation from the RBI in February 2023. It said its payment business unit CAMSPay, specialising in providing secure, seamless, and innovative payment services tailored specifically to the unique needs of the banking, financial services, and insurance (BFSI), and education technology (Ed-Tech) sectors.
CAMS gets RBI nod to operate as payment aggregator
Computer age management services (CAMS) on Wednesday informed the stock exchanges that the Reserve Bank of India (RBI) has authorised the company to operate as an online payment aggregator. The company received an in-principle authorisation from the RBI in February 2023. It said its payment business unit CAMSPay, specialising in providing secure, seamless, and innovative payment services tailored specifically to the unique needs of the banking, financial services, and insurance (BFSI), and education technology (Ed-Tech) sectors.
Utkarsh SFB pays Rs 1.24 cr to settle matter with Sebi
Utkarsh Small Finance Bank has settled a matter with the Securities and Exchange Board of India (Sebi) by paying Rs 1.24 crore in a matter related to alleged violations of listing regulations. The market regulator has disposed of the show-cause notice against the bank under the settlement regulations after the recommendation by the High Powered Advisory Committee (HPAC) of Sebi. The SFB had filed for settlement in November 2023 while the HPAC recommended settlement amount in February 2024.