SoftBank plans to sell 5% stake in PB Fintech via block deal: Report SoftBank Group plans to sell a 5% stake in India’s PB Fintech Ltd, the parent of online insurance aggregator Policybazaar, through a block deal, local media channel CNBC-TV18 reported on Thursday, citing sources. The block deal on Friday could be at a base price ...

Citi deal may be complete in May: Axis Bank MD & CEO Amitabh Chaudhry Axis Bank is trying to ensure the completion of its purchase of Citibank’s retail business by March 1 next year, but there is a possibility that the process could spill over to May, the domestic private lender’s MD, CEO Amitabh Chaudhry said. “We’re ...

Rupee gains as Fed’s Jerome Powell hints at slower US rate hikes The rupee and government bonds strengthened sharply on Thursday after Federal Reserve Chairman Jerome Powell hinted that going forward, the US central bank may reduce the pace of what has been an extremely aggressive policy tightening cycle so far in 2022. The domestic currency closed ...

Carlyle, Advent get conditional nod from RBI for 9.99% in Yes Bank Private equity majors The Carlyle Group and Advent have got the Reserve Bank’s nod to own up to 9.99 per cent in Yes Bank, the private sector lender said on Thursday. The two PE funds in July this year expressed an intent to pump-in over ...

Bank of India raises Rs 1,500 crore through additional Tier 1 bonds Public sector lender Bank of India has raised capital worth Rs 1,500 crore through additional tier I bonds (AT1 bonds) to meet regulatory norms and support business growth. Following a strong response, the coupon was fixed at a finer rate of 8.57 per cent against ...

RBI revises norms for classifying UCBs as financially sound & well managed As a step to enhance the profile of urban cooperative banks (UCBs), Reserve Bank of India today prescribed revised norms to categorise UCBs as Financially Sound and Well Managed (FSWM) banking entities. These norms are applicable with immediate effect. For categorising themselves as FSWM category ...

RBI announces 4-tiered regulatory framework for urban cooperative banks The Reserve Bank of India (RBI) on Thursday announced a four-tiered regulatory framework for categorisation of Urban Co-operative Banks (UCBs), Besides, the central bank has come out with norms pertaining to the net worth and capital adequacy of these banks. The four-tiered regulatory framework, based on size of ...

Reserve Bank of India issues framework for Indian banks’ foreign biz The Reserve Bank of India (RBI) has put in place a framework to allow overseas subsidiaries and branches of Indian banks and financial institutions to undertake activities not specifically permitted in the Indian domestic market. The framework also specifies the applicability of these instructions to International ...

e-Rupee: RBI creates Rs 1.71 crore of digital currency for retail pilot The pilot project for central bank digital currency (CBDC) in the retail segment went live on Thursday with the Reserve Bank of India (RBI) issuing Rs 1.71 crore to four participating banks based on their indents. The central bank has identified four banks for the ...

Why investing in the right ELSS fund can help you save tax and grow wealth [ad_1] Tax planning is an important exercise carried out towards the end of the financial year, with a majority of individuals spending a considerable amount of time choosing the right tax-saving product, such as Equity Linked Saving Schemes (ELSS). However, rarely do they dedicate enough ...