Sundaram Finance to revise interest rate on term deposits from Jan 1 Non-banking finance company Sundaram Finance would revise interest rate on its term deposits with effect from January 1, the city-based firm said on Saturday. Accordingly, the rate on 12-month deposit would be increased to 7.20 per cent, 7.50 per cent for a tenure ...

Indian bank credit growth to be stronger in Q4FY23, says Emkay Global After years of lackluster performance, the Indian banking sector has been a clear outperformer in 2022 and the credit growth in Q4FY23 is expected to be stronger, said Emkay Global Financial Services Ltd. According to a report by Emkay Global, the Indian banking ...

Ajay Kumar Srivastava becomes new MD and CEO of Indian Overseas Bank Ajay Kumar Srivastava has been elevated as Managing Director and CEO of Indian Overseas Bank with effect from January 1, 2023 from his current posting as executive director. He started his banking career as a probationary officer in 1991 with Allahabad Bank where ...

Top Headlines: SBI, LIC set to see new faces, worst yr for rupee since 2013 SBI, LIC among key govt-run financial institutions set to see new faces Major state-run financial-sector players like the country’s largest lender, State Bank of India (SBI), and the largest life insurer, Life Insurance Corporation (LIC), are likely to see a change of the ...

RBI floating rate bonds interest rate hiked to 7.35% from January 1, 2023 [ad_1] The Reserve Bank of India (RBI) has hiked the interest rate on floating rate savings bonds (2020) to 7.35 per cent from 7.15 per cent earlier. The central bank made the announcement via a press release dated December 30,2022. The hike in interest rate on floating ...

Rupee likely to leave its worst behind; inflows crucial in 2023: Analysts The Indian rupee is likely to hold in a tight range in the early part of 2023 but the worst is possibly behind it, said traders and analysts. The local currency has hovered close to its lifetime lows through most of December, but ...

Plan to open more branches across country: MD & CEO of TMB Private sector Tamilnad Mercantile Bank Ltd (TMB) has drawn up plans to strengthen itself by opening up additional branches across the country in the near future, said a top official of the bank on Friday. The over-a-century old bank recently inaugurated its 510 ...

Govt hikes interest rate on post office savings schemes by up to 1.1bps The government on Friday raised interest rates on most post office savings schemes that do not get income tax benefits in line with the firming of interest rates in the economy. While the interest rate for popular PPF and girl child savings ...

Over half dozen financial institutions to see new faces at the helm in 2023 Major financial-sector players like the country’s largest lender, State Bank of India (SBI), and the largest life insurer, Life Insurance Corporation (LIC), are likely to see a change of the guard at the top in 2023. The first quarter of calendar ...

Finance Ministry sharply raises small savings rates for March quarter The Centre on Friday sharply raised interest rates on eight out of 12 small savings schemes for the January-March quarter of FY23. Small savings deposit rates for one year, two years and three years were raised by 110 basis points (bps) to 6.6 per cent, 6.8 per ...