Kotak Mahindra Bank to acquire Sonata Finance for Rs 537 crore Private sector lender Kotak Mahindra Bank on Friday said it will acquire 100 per cent equity shares of Sonata Finance Pvt Ltd, a non-banking financial company-microfinance institution (NBFC-MFI), from its existing shareholders for Rs 537 crore. The acquisition will be subject to regulatory approvals, ...

State Bank of India expects moderation in growth in global books After witnessing more than 20 per cent year-on-year (YoY) growth in its international loan books till December 2022, State Bank of India (SBI) expects it to moderate to 9-10 per cent. Its overseas books cover India-linked loans, local loans in foreign offices, and trade ...

RBI updates ‘Alert List’ of entities not authorised to deal in forex trade The Reserve Bank on Friday updated its ‘Alert List’ for the public on unauthorised forex trading platforms to include names of entities/platforms/ websites which appear to be promoting such entities. In September last year, the central bank came out with an ‘Alert ...

Bank credit grows at 16.3% in Jan 27 fortnight, shows RBI data Bank credit grew at 16.3 per cent year-on-year (YoY) in the fortnight ended January 27 to Rs 133.41 trillion, latest data by the Reserve Bank of India (RBI) showed, moderating marginally from the growth witnessed till last fortnight (16.5 per cent). In the ...

Sukanya Samriddhi: PPF, SCSS, Sukanya Samriddhi, other small savings schemes: What happens if an accountholder dies without nominee; govt clarifies [ad_1] The Finance Bill 2023 has proposed to amend the Government Savings Promotion Act, of 1873 to clarify who will get money if the small savings scheme account holder dies without nomination. The new amendment has included another option to ...

Forex reserves dip $1.5 bn to $575.27 bn on depletion in currency assets The Reserve Bank of India’s foreign exchange reserves declined by $1.5 billion to $575.27 billion in the week ended February 3, latest central bank data showed. The drop in the RBI’s reserves was largely on account of a decline in the central ...

Post Office Savings Account: 8 must-know charges [ad_1] The post office schemes offer a variety of safe and risk-free investment returns through its different investment tools designed for different people considering age, duration of the scheme, and tax benefits. One can open a savings account with the post office. India Post Savings accountThe Post Office Savings Account (SB) is similar ...

UPI for foreign travellers, NRIs: Passport, visa physical verification must for issuance; RBI releases guidelines [ad_1] The Reserve Bank of India (RBI) on February 10, 2023, released guidelines on the issuance and use of Unified Payments Interface (UPI) by foreign travellers and Non Resident Indians (NRIs) visiting India. The central bank has recently allowed the UPI merchant payment facility to ...

Top bank FDs vs PPF, SCSS, Sukanya Samriddhi, other post office schemes: Which offers best interest rate [ad_1] As the Reserve Bank of India (RBI) has raised the repo rate by 2.25% since May of this year, banks have been consistently raising their deposit interest rates, making it more attractive. For the current, Jan-March 2023 quarter, the government hiked interest ...

Do you have to pay penalty for premature withdrawal from Senior Citizen Savings Scheme? [ad_1] Do you have to pay penalty for premature withdrawal from Senior Citizen Savings Scheme? [ad_2]