Page 213 - Finance News
Aditya Birla Finance may merge with Aditya Birla Cap within next 12 months
This is the second instance of such a merger in the NBFC space. Earlier, Tata Capital Financial Services merged with its parent entity Tata Capital from January 1, 2024
 "Aditya Birla Finance may merge with Aditya Birla Cap within next 12 months")
RBI takes delivery of $5 bn dollar/rupee swap to bolster liquidity: Bankers
Bankers reckon that the central bank opted to take delivery, thereby removing $5 billion out of the system and injecting proportionate liquidity
 "RBI takes delivery of $5 bn dollar/rupee swap to bolster liquidity: Bankers")
REC to finance power, infra projects worth Rs 1.20 trillion in Rajasthan
REC Ltd, under the power ministry, has signed an agreement with the government of Rajasthan on March 10, according to a statement
 "REC to finance power, infra projects worth Rs 1.20 trillion in Rajasthan")
Sidbi secures first green climate fund project worth $120 million
The closure was announced at the 38th board meeting of the GCF, which will invest USD 24.5 million in the fund, in Kigali, Rwanda, on March 5, Sidbi, an accredited entity of GCF
 "Sidbi secures first green climate fund project worth $120 million")
Rupee ends higher on dollar inflows, likely RBI intervention caps rise
"The rupee has broken a key support level of 82.80 given robust inflows, solid fundamentals and a weakening dollar," said Amit Pabari, managing director at forex advisory firm CR Forex
 "Rupee ends higher on dollar inflows, likely RBI intervention caps rise")
Rupee climbs over six-month high on inflows, stronger Asian peers
The rupee was also helped by strength in its Asian peers amid a drop in US Treasury yields. The Korean won climbed 0.8 per cent and the Indonesian rupiah advanced 0.4 per cent
 "Rupee climbs over six-month high on inflows, stronger Asian peers")
Sovereign gold bonds help save $3.3 billion in India's gold import bill
The government launched the first SGB in November 2015, and the first two issues have matured giving significantly high tax-free returns to investors
 "Sovereign gold bonds help save $3.3 billion in India's gold import bill")
Cassette-swap: Mechanism to make ATMs better will miss deadline again
Cassette-swap is a lockable mechanism that does away with open cash replenishment. The upgrade is stuck over installation cost
 "Cassette-swap: Mechanism to make ATMs better will miss deadline again")
FinMin asks PSBs to ensure compliance in withdrawal from Rera accounts
RERA Act, 2016 mandates the funds from escrow accounts can only be accessed by the promoter after certification from a practising architect, engineer, and chartered accountant
 "FinMin asks PSBs to ensure compliance in withdrawal from Rera accounts")
FPI count at GIFT City doubles in last four months, shows NSDL data
Maiden IFSC emerges as preferred choice of fund managers
 "FPI count at GIFT City doubles in last four months, shows NSDL data")
Banks' lending rate hit 46-month high in Jan; for fresh deposits in Aug
The weighted average lending rate by scheduled commercial banks on fresh loans increased to 9.45 per cent in January 2024 compared to 9.32 per cent in December 2023
 "Banks' lending rate hit 46-month high in Jan; for fresh deposits in Aug")
Govt exempts certain payments to units in IFSC from TDS starting April 1
The process laid down includes the furnishing of Form No. 1 by an IFSC unit to the payer following which the payer shall not deduct the TDS
 "Govt exempts certain payments to units in IFSC from TDS starting April 1")
UPI can now be used to make payments to Nepalese merchants, says NPCI
UPI users can scan QR codes to make payments to Nepalese merchants, an official statement said
 "UPI can now be used to make payments to Nepalese merchants, says NPCI")
Rs 820 crore Uco bank scam: CBI conducts second round of searches
The CBI has filed the FIR against Avishek Srivastava and Supriya Mallick, Support Engineers in the Mangaluru-based LCode Technologies, it said
 "Rs 820 crore Uco bank scam: CBI conducts second round of searches")
Moody's revises India's GPD growth forecast to around 8% for FY24
Operating environment for Indian banks to improve in 2024, says Moody's
 "Moody's revises India's GPD growth forecast to around 8% for FY24")
Macrotech Developers raises Rs 3,300 crore capital through QIP route
This is the fourth equity raise by Macrotech Developers in the last 36 months and the company has raised over Rs 13,000 crore
RBI tightens norms for credit, debit cards used with business accounts
Last month, the RBI had ordered Visa to stop using an unauthorized route to make business-to-business card payments which used fintech companies as an intermediary
 "RBI tightens norms for credit, debit cards used with business accounts")
RBI, Bank Indonesia partner to promote use of local currencies for trade
This framework would enable exporters and importers to invoice and pay in their respective domestic currencies, which in turn would enable the development of an INR-IDR foreign exchange market
 "RBI, Bank Indonesia partner to promote use of local currencies for trade")
RBI, Bank Indonesia agree to use local currencies for bilateral trade
This framework would enable exporters and importers to invoice and pay in their respective domestic currencies, which in turn would enable the development of an INR-IDR foreign exchange market
Fund pick: Franklin India ELSS Tax Saver
Fund pick of Franklin India ELSS Tax Saver
 "Fund pick: Franklin India ELSS Tax Saver")