Rupee up briefly, searches for direction around familiar resistance level By Nimesh Vora MUMBAI (Reuters) – The Indian rupee briefly rose against the dollar above a level that’s being closely watched by traders, but was unable to pierce it convincingly. The rupee was trading at 81.25 per U.S. dollar by 10:32 a.m. IST compared with ...

Bandhan Bank Q3 profit slumps 66% to Rs 291 crore on higher provisions Private lender Bandhan Bank Ltd on Friday reported a 66% slump in third-quarter profit, hurt by higher provisions and lower interest income. Net profit for the quarter-ended Dec.31, 2022, fell to 2.91 billion rupees ($35.85 million) from 8.59 billion rupees a year ...

Indian banks’ switch to IFRS norms unlikely to drive rating changes: Fitch MUMBAI (Reuters) – The benefits of Indian banks’ switching to the International Financial Reporting Standards (IFRS) accounting rules will outweigh any short-term impact on capital levels and is unlikely to drive rating changes, said credit rating agency Fitch. While the Reserve Bank of ...

Raise credit penetration in 112 aspirational dists, FinMin tells banks The Finance Ministry on Friday asked banks to further increase credit penetration in aspirational districts and ensure availability of at least one banking outlet within 5 km of all inhabited villages. Progress of 112 Aspirational Districts under Targeted Financial Inclusion Intervention Programme (TFIIP) was discussed ...

Canara Bank to sell its stake in Russian joint venture to SBI for Rs 114 cr Canara Bank on Friday said it plans to sell its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to the other venture partner State Bank of India (SBI) for about Rs 114 crore. CIBL, incorporated in 2003, ...

Bombay HC sets aside YES Bank’s Rs 8,000-crore AT1 bond write-off The Bombay High Court on Friday set aside YES Bank’s erstwhile administrator’s decision to write down additional tier 1 (AT1) bonds worth over Rs 8,000 crore held by bondholders and retail investors. The court, however, stayed the order for six weeks, which the bank ...

Rupee closes at 81.18 against US dollar amid surge in crude oil prices The rupee appreciated 18 paise to close at 81.18 (provisional) against the US dollar on Friday on broad dollar weakness. However, weak domestic equities and a surge in crude oil prices capped sharp gains for the local currency, forex traders said. ...

EPS Pension: Are employees contributing to private EPF trusts also eligible to apply for higher EPS pension? [ad_1] The Supreme Court, in its judgement dated November 4, 2022, upheld the amendments made by the Ministry of Labour and Employment in August 2014 to the Employees’ Pension Scheme (EPS), 1995. The amendment restricted the employees right to claim higher pension, entry ...

Forex reserves zoom by $10.417 bn to $572 bn as on Jan 13: RBI data India’s forex reserves zoomed by USD 10.417 billion to USD 572 billion as on January 13, making it one of the biggest weekly jumps in the kitty in recent times. In the previous reporting week, the overall reserves had dropped ...

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