Page 166 - Finance News

India's forex exchange reserves expanded by $66 bn in 2024, at record high

Country has had the highest percentage growth in its reserves in 2024

RBI Guv Das stabilises volatile rupee with $689 billion forex reserves

India's current account deficit has also narrowed recently thanks to cheaper oil from Russia and global firms setting up service hubs

Rupee appreciates 9 paise to 83.56 against US dollar in early trade

Lower crude oil prices also supported the Indian currency though the unit was weighed down by some outflow of foreign funds, forex traders said

Banks take securitisation route for liquidity, lower credit deposit ratio

Rating agency ICRA estimates Rs 45,000 crore to Rs 50,000 worth of securitisation and direct assignment deals in the July-Sep quarter

Jana SFB ups short term deposit rate, aims to compete with liquid MF

The move comes at a time when banks are scrambling for deposits amid healthy loan growth

FATF praises India's PMLA, terror financing; asks to improve prosecution

The report said India implemented such an anti-money laundering (AML) and combating financing of terror (CFT) system that was effective in many respects

Indian firms use currency swap to lower borrowing costs as Fed cuts kickoff

The banker did not want to be named because he is not authorized to speak to the media

Rupee rises 6 paise to 83.70 against US dollar during early trade

The rupee also got support from lower crude oil prices, positive domestic equity markets as well as inflow of foreign funds

Corporate bond market needs to be strengthened: SBI chairman Setty

"One of the major points in corporate lending is that it was mainly done by banks. Corporate bond market still has to get strengthened," Setty said

SBI raises Rs 7,500 crore through issuance Basel III-compliant bonds

In a regulatory filing, SBI said the issue attracted overwhelming response from investors with bids in excess of 3 times against the base issue size of Rs 4,000 crore

RBI unlikely to cut rates in 2024 amid food inflation uncertainty: SBI

The US Federal Reserve's first cut in interest rates in more than four years is expected soon, triggering central banks in other economies to follow suit

NBFCs throng bond mkt to fund festival credit demand as bank funding slows

Raise nearly Rs 74K cr since Aug via debt offers as bank lending slows

NFRA issues revised audit standards to address deficient quality

Brings out revised SA 600 for public consultations

PM Modi encourages use of RBI's digital currency at Odisha scheme launch

The Prime Minister thanked women of the state for being part of it while launching the women-centric scheme in Bhubaneswar on Tuesday

FM reviews Railway Ministry's capex plan, asks to expedite 'Kavach' system

MoR officials informed the Minister that Kavach-related works are currently in progress in over 3000RKm (route km) on the Delhi-Howrah and Delhi-Mumbai sections

Phoenix ARC gets EOIs from ARCs for Rs 3,550 crore retail NPA sale

Based on requests received from ARCs, Phoenix ARC has decided to extend the due diligence period from September 16 to September 24

No tax rate reductions for old regime, clarifies Nirmala Sitharaman

Finance Minister Nirmala Sitharaman said that the government is not compelling anyone to switch from the old to the new tax regime

Rupee gains 2 paise to 83.84 against US dollar during early trade

However, a sluggish trend in the domestic equities and fresh foreign fund outflows amid US rate cut expectations restricted the rise in the local unit

Foreign banks in regulatory standoff seek RBI relief on trading rules

In October 2022, Esma de-recognised the Clearing Corporation of India, creating significant obstacles for European banks conducting large-scale transactions

Rupee expected to remain steady ahead of US Fed decision this week

The 1-month non-deliverable forward indicated that the rupee will open at 83.87-83.88 to the US dollar