Page 42 - Finance News

Rupee plunges 36 paise to close at all-time low of 88.47 against US dollar

Forex traders said a recovery in the US dollar ahead of the inflation data and foreign fund outflows further dented investors' sentiments

RBI likely to grant lenders greater authority for small loan recovery

Last year, the Reserve Bank of India asked lenders to halt locking phones of defaulting borrowers

RBI buys 4.16-acres in Nariman Point from Mumbai Metro for Rs 3,472 cr

Central bank has purchased the parcel for self-use and commercial purposes, according to documents

ICICI Bank, Amazon Pay renew partnership for co-branded credit cards

ICICI Bank and Amazon Pay have extended their co-branded credit card partnership for seven years, lowering forex markup and continuing unlimited cashback rewards

Non-life insurance premiums up 1.6% in August on crop insurance drag

Non-life insurers saw premiums rise 1.6% in August to Rs 24,953 cr as crop insurance weakened; New India Assurance and National Insurance posted strong growth

India's outbound FDI down to $2.1 billion in August, shows RBI data

Outbound FDI, expressed as a financial commitment, comprises three components: equity, loans, and guarantees

NBFCs see minimal relief in borrowing costs despite aggressive rate cuts

Muted transmission of repo rate reductions keeps borrowing costs high, with analysts expecting full benefits to flow in gradually over 18 months

NBFC loans to grow 15-17% in FY26 on GST reforms, liquidity boost: Icra

Their credit expanded 17 per cent in FY25 and 24 per cent in FY24, respectively

Banks, NBFCs may tap overseas market as dollar bond spreads narrow

Following India's rating upgrade, in investment grade space, spreads have compressed by 10 - 15 bps while in high yield space spreads have compressed by 25 - 30 bps

Gujarat stays top state for bank-backed investments; Maharashtra second

Bank and financial institution support for projects stayed high in FY25, with Gujarat, Maharashtra, and Uttar Pradesh among the top states driving nearly 60 per cent of total project costs

From exporters to bond traders, RBI facing increasing calls to step in

It's a familiar pattern: when local or global forces threaten market equilibrium, the Reserve Bank of India is typically expected to step in

India hoped for 'big' GST reform, received only a revised rate card

India's long-overdue GST cut is hailed by PM Modi as the nation's 'biggest reform', with carmakers cutting prices and asset managers calling it a 'landmark reset', yet markets stay muted

UK PM Starmer to attend Global Fintech Fest 2025 alongside PM Modi

UK Prime Minister Keir Starmer will join PM Modi at Global Fintech Fest 2025, the first foreign head of state to do so, with AI, licensing and stablecoins set to dominate discussions

FPIs net sellers of G-secs under FAR in FY26, inflows return in Q2

FPIs sold Rs 17,262 crore of government securities under FAR in FY26 so far, but Q2 has seen a turnaround with Rs 14,540 crore in inflows as bond yield spreads widened

Madras HC sets aside EPFO circular, clears path for higher pension claims

The Madurai bench of Madras HC has struck down an EPFO circular that blocked retrospective PF trust rule changes, enabling employees of exempted firms to seek higher pensions

Six states raise ₹14,900 cr in bond auction; Nagaland rejects bids

Six states borrowed Rs 14,900 crore at the weekly auction while Nagaland did not accept bids for its 10-year bond as long-term state bond yields fell sharply this week

8th pay panel payout likely to trigger rate hike cycle in FY27: Report

Payout with sizeable arrears will hit core inflation harder, as it propels demand for goods and services overtime, and leads to an instantaneous reset of housing rents

Need proactive outreach for easy transition to new GST rates: CBIC chief

The GST Council, in its meeting last week, has approved to make Goods and Services Tax (GST) a two-tier structure of 5 and 18 per cent, with special rate of 40 per cent on tobacco and related products

PSBs shut 1.5 mn inoperative Jan Dhan accounts in 1-time exercise in April

Launched in August 2014, PMJDY was launched by Prime Minister Narendra Modi as a financial inclusion programme to provide access to banking services to a vast unbanked population

MFI credit cost to moderate to 4-4.5% in FY26, 3-3.5% in FY27: ICRA

ICRA expects MFI credit cost to fall after surging in FY25, easing to 4-4.5% in FY26 and 3-3.5% in FY27, with AUM growth seen resuming at 8-12% as RBI relaxes norms