Page 15 - Finance

ICICI Bank's profitability solid despite AIF provisioning, margin pressure

Ratings agency S&P said that the bank's better customer profile and underwriting compared to many Indian banking peers should also limit losses

Rupee falls 9 paise to close at 83.16 against dollar on weak sentiment

The rupee depreciated 9 paise to 83.16 (provisional) against the US dollar, as elevated crude oil prices and weak domestic equities weighed on investor sentiments. Forex traders said foreign fund outflows also put pressure on the rupee. However, a weak US Dollar overseas cushioned the downside. At the interbank foreign exchange market, the local unit opened at 83.11 and finally settled at 83.16 (provisional) against the dollar, down by 9 paise from its previous close. During the day, it witnessed an intraday high of 83.06 and a low of 83.17 against the American currency. On Friday, the rupee settled at 83.07 against the US dollar. "We expect the rupee to trade with a slight negative bias on weak domestic markets and selling pressure from foreign investors. "Any further increase in crude oil prices may also weigh on the rupee. However, positive global markets and a weak Dollar may support the rupee at lower levels. Traders may remain cautious ahead of Richmond manufacturing index

Why do insurance claims get rejected? Here are the 5 common reasons

Many insurance claims are rejected by companies due to different reasons. If you want to get a full claim, here are the common reasons that you can avoid

Top 5 popular finance podcasts in India to help you manage your money

If you want to enhance your financial wisdom, you need to learn it from experts. Many experts are sharing their knowledge through podcasts. Here are the top 5 finance podcasts in India

Fund mobilisation through private bond placements hit all-time high in 2023

The highest mobilisation in 2023 came from All-India Financial Institutions and banks, accounting for Rs 4.71 trillion, representing a 29 per cent increase from the previous year's Rs 3.66 trillion

Govt appoints Rajay Kumar Sinha as Irdai's member for three years

Sinha is currently serving as the Managing Director and Chief Executive Officer of SBI Capital Markets, the investment banking arm of the State Bank of India

Term insurance test and getting into movies: Top personal finance stories

This week we explain how self-employed people can get term insurance and how train for a career in showbiz

Bandhan Bank advances in Q3 FY24 increase by 18.6% to Rs 1.6 trn

Total deposits grew 14.8% to Rs 1.17 trn, lender tells exchanges

Flows into NRI deposits double Y-o-Y to $6.11 billion in April-October 23

Flows into Foreign Currency Non-Resident (FCNR) moved back to positive territory with $2.06 billion in April-October 2023 as against an outflow of $814 million in the same period of 2022

'Cut essential to check high real interest rate', says RBI MPC member

Jayanth Varma, an external member of the RBI's Monetary Policy Committee, has stated that an interest rate cut is required to prevent excessive real interest rates amid changing economic landscape

Reserve Bank explores stringent measures to combat illegal forex trading

The RBI has compiled an alert list comprising 75 entities, including unauthorised platforms and websites involved in unauthorised forex transactions

Formal, casual, always classy: Blazers suit all your style needs

It is a myth that the blazer is meant for the office and that it only comes in dark or grey

Insurance broking startup Finhaat raises $3 mn for business expansion

Company says technology-driven platform will improve accessibility to insurance

S&P downgrades Vedanta Resources to 'CC' on potential bond extensions

The ratings remain on CreditWatch with negative implications, where they were first placed on September 29, 2023

RBI cautions states with over 4% fiscal deficit, urges tax reforms

Says returning to OPS would put substantial burden on finances

NIIF-backed shadow bank considers raising $100 mn with $600 mn valuation

The Indian shadow bank aims to complete the funding round by the end of March, said another person. Deliberations are ongoing and details of the fundraising could still change

Tech transfer, finance for energy transition still a challenge: Min Yadav

Technology transfer and finance for low-carbon transition of hard to abate sectors like iron, steel, cement, and transport remains a challenge, Environment Minister Bhupender Yadav said at the UN climate talks on Sunday. Addressing an event, he said the global industrial landscape has seen a significant shift since the launch of LeadIT, an initiative focusing on low-carbon industrial, in 2019. "However, the real transition challenges of technology transfer and finance are yet to be addressed," he said. Yadav emphasised collaborative international mechanisms to tackle challenges, particularly barriers like intellectual property rights for technology transfer. He described the India-Sweden LeadIT partnership as an alliance to address the climate crisis and harmonise industries with the environment. The minister encouraged stakeholders to collaborate on innovation, technology, and collaboration to build a sustainable, inclusive industry for the future. Swedish Minister of Climate an

L&T Finance announces completing merger of 3 subsidiaries with itself

Merger will create "sustainable value" for stakeholders and help governance, says NBFC

Three financial planning mistakes experts make

Your financial plan should not be based on slogans or catchphrases. Instead, keep asking why till you agree with the rationale behind your plan

RBI approves Hinduja Group directors on board of bankrupt Reliance Capital

Central bank clears resolution plan for Reliance Capital by IIHL BFSI (India)