Page 287 - Finance News

India will be among fastest growing economies in 2023: RBI Governor

RBI Governor Shaktikanta Das on Tuesday expressed confidence that India will be among fastest growing economies in the world in 2023 which would grow at the rate of 6.5 per cent in the current fiscal

Disinflation process is likely to be slow and protracted, says RBI Governor

Reserve Bank Governor Shaktikanta Das on Tuesday said the disinflation process in India will be slow

IMGC to focus on strengthening partnerships with finance institutions: CEO

India Mortgage Guarantee Corporation (IMGC) would focus on strengthening partnerships with banks and financial institutions, a top official said on Tuesday

RBI likely to tighten norms for unsecured lending portfolios of banks

Indian banks have been expanding their unsecured lending portfolio as the pandemic-induced stress began easing

India set for $168 bn behemoth as HDFC merger to be completed by 20 July

Announcement of the so called 'record date' - or the cut-off day set for investors - for the swapping of shares of Housing Development Finance Corp. for HDFC Bank Ltd

RBI opens sub-office at Kohima, to increase presence in north east

The Reserve Bank on Tuesday opened a sub-office at Kohima, and announced its aim to soon have an office in Itanagar to strengthen its presence in North East India

'Nabard plans to raise at least 20 bln rupees via over 3-yr bonds'

In May, Nabard raised 49.29 billion rupees via bonds maturing in three years, three months and 19 days at a 7.50% coupon

RBI penalises Bihar State Co-op Bank Rs 60.20 lakh for various shortcomings

The Reserve Bank on Monday imposed a penalty of Rs 60.20 lakh on The Bihar State Co-operative Bank Limited, Patna, for a slew of shortcomings and violations

Punjab & Sind Bank plans to raise Rs 750 cr via bonds to fund growth

State-owned Punjab & Sind Bank on Monday said it plans to raise Rs 750 crore from bonds to fund business growth.

Equitas Holdings surrenders NBFC licence to RBI, registration cancelled

The Reserve Bank of India on Monday said Equitas Holdings Ltd has surrendered its NBFC licence, and accordingly its registration has been cancelled

HDFC to raise Rs 10,000 cr via non-convertible debentures, tenure of 10 yrs

Mortgage lender HDFC on Monday said it will raise Rs 10,000 crore by issuing non-convertible debentures (NCDs) on a private placement basis to shore up its resources

Mitigate prolonged hospitalisation with reasonably priced accident cover

Frequent travellers and those engaged in risky occupations must buy this inexpensive cover

FLDG norms may dampen biz volume in segments with higher 5% limit: CRISIL

However, there won't be an overall impact on reported profits as the FLDG amount received will now be reckoned as a part of income

RBI permits banks to undertake compromise settlement of wilful defaults

In order to ensure maximum recovery from distressed assets, the Reserve Bank of India has allowed banks to go for compromise settlement of fraud accounts and wilful defaults.

FinMin to meet Moody's on June 16, pitch for sovereign rating upgrade

The Finance Ministry officials will showcase India's strong economic fundamentals and pitch for a sovereign rating upgrade in a meeting with US-based Moody's on June 16.

Irdai grants permission to Go Digit Life Insurance to commence business

According to IRDAI, this is the fourth registration granted by IRDAI in the last one year in the Life and Non-life segment

Productivity growth critical for recovery of emerging economies: Patra

Michael Patra, in a speech delivered at the Sixth Asia KLEMS Conference on Sunday, said it is widely believed that structural slowdown has been spreading across the global economy after growth peaked

Rupee appreciates by 7 paise to 82.40 against US dollar in early trade

On Friday, the rupee closed at 82.47 against the US currency

FinMin to meet Moody's on June 16, to pitch for sovereign rating upgrade

The Indian finance ministry officials will meet credit rating agency Moody's Investors Service on June 16 and pitch for a sovereign rating upgrade, two government sources told Reuters

FY24 to be golden year for Punjab National Bank due to steady focus: MD

The current financial year will be a golden year for Punjab National Bank due to its multi-pronged strategy and steady focus, its managing director Atul Kumar Goel has said