Page 111 - Finance News
Ajay Seth, 1987-batch IAS officer, designated as new finance secretary
A 1987-batch Indian Administrative Service officer from the Karnataka cadre, Seth is also known for his role as the officer in charge of the finance track of the Group of 20 under India's presidency
 "Ajay Seth, 1987-batch IAS officer, designated as new finance secretary")
Ajay Seth takes baton from Tuhin Kanta Pandey as new Finance Secretary
Ajay Seth, a 1987-batch Indian Administrative Service (IAS) officer from the Karnataka cadre, brings a wealth of experience to his new role
 "Ajay Seth takes baton from Tuhin Kanta Pandey as new Finance Secretary")
RBI's $10 billion forex swap sees over 2x demand, cut-off at Rs 5.86
Under the swap, the central bank will inject liquidity amounting to $10.04 billion equivalent of rupees into the banking system on Wednesday. The transaction will be reversed in three years
 "RBI's $10 billion forex swap sees over 2x demand, cut-off at Rs 5.86")
Indian Rupee ends 35 paise stronger; Logs best winning streak in 13 months
The domestic currency ended 35 paise stronger at 85.63 against the greenback after closing at 85.98 on Friday, according to Bloomberg data
 "Indian Rupee ends 35 paise stronger; Logs best winning streak in 13 months")
Indian Rupee opens stronger at 85.94/$, gains for ninth straight session
The domestic currency opened 4 paise stronger at 85.94 against the greenback after closing at 85.98 on Friday
 "Indian Rupee opens stronger at 85.94/$, gains for ninth straight session")
Business correspondents to undergo digital audit and fresh training
A working committee is likely to be formed to do the job, and will be headed by one of the managing directors of State Bank of India (SBI)
 "Business correspondents to undergo digital audit and fresh training")
Banks set to make treasury gains in Q4 FY25 as bond yields soften
The yield on the 10-year benchmark government bond fell 8 basis points in the previous week - the steepest weekly decline in four months, since November 30, 2024 - to settle at 6.62 per cent
 "Banks set to make treasury gains in Q4 FY25 as bond yields soften")
Scoring in their second innings: NBFC entrepreneurs stage a revival
A clutch of shadow bank entrepreneurs have weathered the storm and are now evangelists for the business
 "Scoring in their second innings: NBFC entrepreneurs stage a revival")
Public sector banks' dividend rises 33% to Rs 27,830 crore in FY24
PSBs declared a dividend of Rs 27,830 crore to shareholders in 2023-24 as against Rs 20,964 crore in the previous fiscal
 "Public sector banks' dividend rises 33% to Rs 27,830 crore in FY24")
Benchmark bond yield at three-year low; rupee under 86 against US dollar
Foreign investors continued to pour money into government securities under the Fully Accessible Route (FAR), with net inflows reaching ₹8,560 crore this week
 "Benchmark bond yield at three-year low; rupee under 86 against US dollar")
Credit-deposit growth gap widens amid tight liquidity, shows RBI data
While credit expanded by Rs 1.38 trillion in the March 7 fortnight over the previous fortnight, deposits expanded by Rs 2.25 trillion
 "Credit-deposit growth gap widens amid tight liquidity, shows RBI data")
No tax demand after resolution plan approval, says Supreme Court
A corporate debtor, under IBC, is a company or LLP that owes a debt to any person. A successful resolution applicant is a person or entity whose resolution plan is approved by lenders and NCLT
 "No tax demand after resolution plan approval, says Supreme Court")
Forex kitty rises by $305 million to $654.271 billion, shows RBI data
In the previous reporting week, the overall reserves rose by $15.267 billion to $653.966 billion and registered the sharpest weekly rise in two years
 "Forex kitty rises by $305 million to $654.271 billion, shows RBI data")
Shapoorji Pallonji gets over $4 bn in investor commitments for debt sale
Altogether, the investors may bid for 50%-75% of the issue, the sources added, requesting anonymity as they are not authorised to speak to the media
 "Shapoorji Pallonji gets over $4 bn in investor commitments for debt sale")
Indian Rupee strengthens past 86/$, logs best week in over 2 years
The domestic currency closed 39 paise stronger at 85.98 against the greenback after closing at 86.37 on Friday
 "Indian Rupee strengthens past 86/$, logs best week in over 2 years")
RBI likely to cancel next week's T-bill auction given large cash balance
Net liquidity in the banking system was in a deficit of ₹2.32 trillion as of Thursday, and has been in deficit mode for the past fourteen consecutive weeks
 "RBI likely to cancel next week's T-bill auction given large cash balance")
Indian Rupee opens at 86.23/$, climbs to highest level in eight weeks
The domestic currency opened 14 paise stronger at 86.23 against the greenback after closing at 86.37 on Thursday
PFRDA issues regulations for implementation of Unified Pension Scheme
The enrolment and claim forms for all these categories of central government employees will be available online on the Protean CRA website from April 1, 2025
 "PFRDA issues regulations for implementation of Unified Pension Scheme")
Fresh formal hirings decline 3% in Jan, down for second straight month
In January last year, a total of 807,865 new subscribers had joined the Employees' Provident Fund (EPF)
 "Fresh formal hirings decline 3% in Jan, down for second straight month")
FPI single-day inflows into debt segment hit 1-year high: NSDL data
Moreover, total foreign portfolio investment in Indian government securities designated under the Fully Accessible Route (FAR) reached Rs. 2.96 trillion as of Thursday
 "FPI single-day inflows into debt segment hit 1-year high: NSDL data")