Banks, FIs should play key role in financing NIP projects: DFS secy Banks, financial institutions (FIs), and newly established National Bank for Financing Infrastructure Development should play a proactive role in financing projects under the National Infrastructure Pipeline (NIP) to avoid crowding out of private investment, Vivek Joshi, secretary at the Department of Financial Services (DFS), said ...

Sebi permits govt to reclassify stake in IDBI Bank as public holding In a major dispensation, capital markets regulator Securities and Exchange Board of India (Sebi) acceded to the central government’s request to reclassify its shareholding in IDBI Bank after its disinvestment as “public holding”, the lender told the stock exchanges on Thursday. This is ...

Fund transfer to cheque return: Canara Bank revises charges on these 9 services [ad_1] Canara Bank has revised service charges for certain non-credit, non-forex related services with effect from February 3, 2023, according to the Canara Bank website. The bank has revised charges including Cheque Return, ECS debit return charges, Average Minimum Balance (AMB), Non-Maintenance of Average Monthly Minimum Balance, ...

Rupee gains on corporate investments, cheaper global oil prices The rupee strengthened sharply on Thursday due to corporate investments, a decline in global crude oil prices and as some traders bet on the currency to reverse a recent spell of underperformance, dealers said. The rupee settled at 82.55 per US dollar on Thursday as against 82.81 at ...

income tax budget 2023: Budget 2023: Experts state why basic income tax exemption limit should be increased to Rs 5 lakh [ad_1] To bring some much-needed relief to salaried middle-class taxpayers, Finance Minister Nirmala Sitharaman could increase the basic income tax exemption limit from Rs 2.5 lakh to Rs 5 lakh in the Union Budget 2023, mentioned experts. Currently, the ...

Banks, FIs must design project-based products to meet NIP target: DFS secy Banks and financial institutions need to design products in sync with requirements of infra projects in view of the whopping Rs 111 lakh crore National Infrastructure Pipeline (NIP), Financial Services Secretary Vivek Joshi said on Thursday. Observing that the infrastructure sector has strong ...

National Saving Certificate interest rate hiked: NSC rate for Jan-Mar 2023 quarter [ad_1] The government has hiked the National Savings Certificate interest rate for the January-March 2023 quarter to 7% from earlier 6.8%. The National Savings Certificate, or NSC, is a trusted savings product offered by the Indian Post Office that is well-liked by investors as a low-risk investment alternative. ...

Sebi allows govt stake in IDBI Bank to be reclassified as public post sale BENGALURU (Reuters) – India’s market regulator has allowed the government’s shareholding in IDBI Bank to be reclassified as “public” after its stake sale on condition that its voting rights do not exceed 15%, the lender said on Thursday. The government, with ...

Best tax-saving FDs: 5 banks offering highest tax-saving FD interest rates [ad_1] Best tax-saving FDs: 5 banks offering highest tax-saving FD interest rates [ad_2]

Rupee gains 32 paise, closes at 82.50 against dollar on weaker greenback The rupee gained 32 paise to close at 82.50 (provisional) against the US dollar on Thursday, supported by a weaker greenback overseas. Forex traders said factors like strong Asian peers and crude oil prices trading below USD 80 per barrel also helped the ...