Page 2 - Financial Market

US-China deepening cooperation on financial stability issues: US officials

The exercises will help establish lines of communication between US and Chinese regulators and identify areas of potential cross-border contagion and other risks, the US officials said

RBI board reviews domestic economic situation, outlook and challenges

The Reserve Bank of India's (RBI) central board on Friday reviewed the domestic economic situation and outlook, including the challenges posed by the global financial market volatility. The board also approved the bank's budget for the accounting year 2024-25, the central bank said in a statement. The 607th meeting of the Central Board of Directors of the RBI took place in Nagpur under the chairmanship of Governor Shaktikanta Das. "The Board reviewed the global and domestic economic situation and outlook, including the challenges posed by geopolitical developments and global financial market volatility," the RBI said. Further, the board also discussed the RBI's activities, including the progress made in digital payments, consumer education and awareness during the current accounting year 2023-24. Directors of the central board Satish K Marathe, Revathy Iyer, Sachin Chaturvedi, Venu Srinivasan, and Ravindra H Dholakia attended the meeting. Deputy governors Michael Debabrata Patra,

RBI bars IIFL Finance from sanctioning and disbursing gold loans

RBI has instituted a special audit and the restrictions will be reviewed after the completion of the audit

RBI conducts two VRRR auctions as money market rates fall below repo rate

The RBI received Rs 20,860 crore bids against the notified amount of Rs 50,000 crore at the first auction

Integrating financial systems, we are partners in progress: PM Modi

Modi said India and UAE have inked an agreement interlinking their respective instant payment platforms that will make it easier for the Indian diaspora to remit money to their relatives in India

Lending rates almost peaked, reduction to follow over next 1 year: Bhutada

Bhatuda says that as far as passing of the reduction of rates to customers is concerned, the same will follow the interest rate movement across the industry

Citigroup to cut 20,000 jobs over the next two years to boost returns

The lender, which currently has 239,000 employees worldwide, will reduce that headcount by 20,000 as part of a sweeping reorganisation, Mason told reporters

Desperate retail investors drive India's futures and options craze

The Securities and Exchange Board of India's crackdown on social-media influencers peddling advice is a losing battle.

Two days before the deadline, one-third companies file financial statements

The MCA has asked stakeholders to file both these returns before the deadline on October 29

CBDC pilot projects show promising results: RBI governor Shaktikanta Das

Furthermore, Das said that the ongoing conflict in Ukraine has significantly influenced the central bank's recent strategies in combating inflation

Who is detained Evergrande founder Hui Ka Yan? His rise and fall explained

The move adds to questions over the future of the world's most indebted developer after setbacks to its restructuring plan in recent days roiled financial markets

Government bond and forex market to remain open on Thursday, Friday

The auction of government-dated securities scheduled on Friday, will now be conducted on Thursday, with settlement on Friday

Dubai's stock market hits an 8-year high, lifted by a real estate boom

Buoyed by a surge in real estate activity, the Dubai Financial Market has reached its highest point in nearly eight years and extended year-to-date gains to nearly 25 per cent. The city-state's bourse peaked at 4,022 on Tuesday before pulling back to 3,986 on Thursday. It's trading at the highest levels since August 2015. This year the Dubai Financial Market has outperformed the S and P 500, which is up nearly 20 per cent, and the MSCI All Country World Index, a benchmark for global equities, which is up 16 per cent. Dubai, a global business hub home to 3.5 million people, weathered the pandemic while keeping its vital tourism industry afloat. The latest real estate boom is driven in part by an influx of Russian investors following Moscow's invasion of Ukraine. Shares of Emaar Properties and Emaar Development led the recent gains following a four-day break for the Muslim holiday of Eid al-Adha at the end of last month. The state-backed developers are behind dozens of high-rise ...

India, UK hold first in-person financial dialogue meeting since 2017

'Scope for augmenting knowledge on CBDC through mutual learning explored'

DBS CEO Piyush Gupta's total pay for 2022 rises by 13% to $11.4 million

Gupta received a cash bonus of about S$5.8 million ($4.3 million) and a salary remuneration of S$1.5 million that contributed to an overall compensation of S$15.4 million for 2022

Will look into financial disclosures of Byju's, says ICAI president

Move comes in backdrop of Congress MP Karti Chidambaram's letter airing concerns over results

Belt-tightening measures key to surviving pink slip, say experts

Cautious spending, reduced debt burden, and opting for gig work can help

'It will continue to be a rough ride, with few places to shelter'

'It will continue to be a rough ride, with few places to shelter. Geographically and geopolitically the US, despite being in the middle of much of the turbulence, should continue to be an attractive '

Rajasthan govt approves financial assistance of Rs 100 crore for MSMEs

This scheme was announced in the state Budget 2022-23 to promote micro, small, and medium enterprises (MSMEs), and give loans on easy terms for small businesses and investors

Abrdn to offload 2% in HDFC Life in block trades, put 43 mn shares on block

Price range set at Rs 564.1-578.55 per share; sale could fetch UK-based financial major at least Rs 2,425.6 cr