Page 266 - Finance News

Rupee appreciates 7 paise to 83.06 against US dollar in early trade

At the interbank foreign exchange, the domestic unit opened at 83.07, then touched a high of 83.06 against the American currency, registering a rise of 7 paise over its last close

Banking system's liquidity slips into deficit for first time in FY24

Banking system liquidity stood at a deficit or 236 billion rupees ($2.84 billion) as of Aug. 21, according to RBI data

Shadow banking: India bets on Jio and a boom, while China hits a funk

The trajectory of financiers, especially those who don't take state-insured deposits, is beginning to diverge in the neighbouring economies

BoB withdraws Sunny Deol's villa auction notice, cites technical reasons

Reversal in decision comes within a day of the initial auction notice for the actor's Juhu property

Short-term govt bond rates harden after incremental CRR guidelines

The yield on the one-year and two-year government bonds has edged up 8 basis points and 4 basis points respectively since August 10

Birics' development bank aims to issue first Indian rupee bond by October

The New Development Bank (NDB) issued its first rand bond in South Africa last week and could consider local currency issuance in members Brazil, Russia and United Arab Emirates

Why did the Bank of Baroda want to auction Sunny Deol's Juhu bungalow?

On Monday, Bank of Baroda said it had withdrawn the auction notice for Sunny Deol's Juhu bungalow

Rupee appreciates 5 paise to 83.05 against US dollar in early trade

The rupee recovered from its all-time low levels and appreciated by 5 paise to 83.05 against the US dollar in early trade on Monday tracking a positive trend in domestic equities

HDFC Bank wants to ride India consumer boom after home loan dominance

The Mumbai-based bank is converting about 530 offices that previously specialized in mortgages into ones with fully-fledged banking services in the coming months, said Kaizad Bharucha

Rupee outperforms its EM Asia peers even as it approaches record low

The improved economic fundamentals are why the currency is largely holding its own against the dollar - it's down just 0.5 per cent this year and is Asia's third-best performer

BS Poll: Rupee expected to weaken more to touch $83.5, may improve in Sept

Weakening Yuan puts pressure; seen largely stable in 2023

GST reward scheme on anvil; customers can participate in lucky draw

Under the invoice incentivisation scheme, cash prize of Rs 10 lakh to Rs 1 crore monthly/quarterly could be given to individuals who upload invoice received from retailer or wholesaler on the app

Punjab & Sind Bank aims for 2,000 branches and ATMs by March 2026

The bank intends to open 50 branches during the current financial year, taking the branch count to over 1,600, Punjab & Sind Bank Managing Director Swarup Kumar Saha told PTI

Finance Commission expected to be constituted by November end: Finance secy

"The Finance Commission is expected to be constituted by end of November because that's the statutory requirement," he told PTI in an interview

RBI's new guidelines: Home loan borrowers can switch to fixed rate at reset

RBI guidelines bar penal interest rates on loans, negative amortisation

RBI issues norms for late fee payment of EMI for personal loan borrowers

The two decisions are expected to provide a relief to the borrowers amid rising interest rates and most of the retail loans being on floating rates now

Global Fintech Festival 2023 aims to aid startups bag $10 mn in funding

This funding target is for startups alone and excludes growth-stage companies which will initiate conversations with investors at the three-day GFF starting from September 5

Give fixed rate option on EMI-based loans while resetting rates: RBI

Banks and NBFCs have been asked to ensure compliance of the instructions for the existing as well as new loans by December 31, 2023

Infra debt fund NBFCs must have net owned fund of at least Rs 300 cr: RBI

Besides, they should have a capital-to-risk weighted assets ratio (CRAR) of minimum 15 per cent (with minimum Tier 1 capital of 10 per cent)

RBI allows infra debt funds to raise money via foreign loan route

IDF-NBFCs were earlier allowed to raise funds through rupee or dollar-denominated bonds of minimum five-year maturity, to the extent of up to 10 per cent of their total outstanding borrowings