Over Rs 12 crore swindled from Kozhikode Corporation accounts in PNB Over Rs 12 crore have been swindled from several accounts of the Kozhikode Corporation in a Punjab National Bank here and the prime accused — a former senior manager of the bank — is still at large. The fraud came to light last month when the ...

Right time to book FD or wait longer for interest rate to cross 9%? [ad_1] Fixed deposit investors are rejoicing the sharp rise in interest rates. They can hardly believe the speed with which their fate has turned within the last 8 months and there appears to be no break in the rate hike momentum which started in May 2022. ...

RBI hikes repo rate by 35 bps to 6.25%; accommodation withdrawal continues On Wednesday, the Reserve Bank of India (RBI) hiked the repo rate by 35 basis points (bps) to 6.25 per cent. RBI governor Shaktikanta Das said that Monetary Policy Committee (MPC) voted 5-1 to raise the rates. RBI also lowered its GDP growth forecast for FY23 to ...

RBI set to raise rates today; outlook on growth, inflation in focus The Reserve Bank of India (RBI) is widely seen raising its key lending rate by 35 basis points on Wednesday as inflation continues to stay above its tolerance band but markets will be looking to its outlook on growth and prices for direction. A strong ...

What is credit score? Why is it important? You might need access to a loan for various reasons. A credit card can come in handy for small purchases on credit. And if you are carrying one, it is crucial that you have a good credit score because the easy availability of personal, consumer and other types of loans, along with ...

ICICI Bank, Axis Bank likely to raise Rs 5,000 cr each via bond sales Private sector lender ICICI Bank is likely to raise up to Rs 5,000 crore through the issuance of long-term bonds on Thursday, sources told Business Standard. The bonds, which are likely to have a maturity of seven years, include a base size of ...

IDBI Bank stake sale: Govt clarifies foreign funds can own over 51% The government on Tuesday said it will allow a consortium of foreign funds and investment companies to own over 51 per cent in IDBI bank, clarifying that foreign ownership criteria was for new private banks and were not applicable on existing ones. This comes ahead ...

Rupee at over 1-month low on renewed Federal Reserve rate hike fears The rupee plummeted against the dollar on Tuesday, shedding 1 per cent (82 paise), as stronger-than-expected economic data released in the US on Monday rekindled fears of aggressive Fed rate hikes. Also, relentless dollar purchases by corporates and oil companies dragged the local currency lower. ...

Govt to allow consortium of foreign funds to own over 51% in IDBI Bank The Indian government will allow a consortium of foreign funds and investment firms to own more than 51% in IDBI Bank Ltd, according to a government clarification on Tuesday. The current guidelines of the Reserve Bank of India restrict foreign ownership in new ...

Rupee falls 76 paise to close at 82.61 against dollar amid selling pressure The rupee declined by 76 paise to close at 82.61 against the US dollar on Tuesday due to heavy selling pressure in domestic equities and rising crude prices in the overseas markets. In addition, investors remained concerned over continued foreign capital outflows ahead of ...