IRDAI aims to move towards RBC model, IFRS by 2025, says chairman The Chairman also said that Indian insurers are converging towards the IFRS Accounting system by implementing the IND-AS

Variable rate repo auction likely to see firm demand from banks The Reserve Bank of India (RBI) will conduct a seven-day VRR auction on Friday to inject up to Rs 1 trillion into the banking system

Fund pick: ICICI Prudential ELSS Tax Saver Fund pick of ICICI Prudential ELSS Tax Saver

Decision on old pension scheme before Budget session, says Ajit Pawar Maharashtra Deputy Chief Minister Ajit Pawar on Thursday said CM Eknath Shinde has assured government employees demanding restoration of the old pension scheme (OPS) that a decision on it will be taken before the upcoming budget session. The state legislature’s budget session is generally held in February-March every year. ...

Rupee rebounds 13 paise to 83.27 against US dollar in early trade The rupee rebounded by 13 paise to 83.27 against the US dollar in early trade on Thursday after the greenback weakened in the overseas markets as the US Federal Reserve signalled a cut in interest rates next year. The local unit opened strong at 83.30 at the interbank ...

Presence of Indian banks via subsidiaries increased to 417 in FY23: RBI Indian banks increased their overseas presence through the subsidiaries route to 417 during 2022-23, from 399 at the end of the preceeding fiscal, as per Reserve Bank data released on Wednesday. Their employee strength, too, rose 0.5 per cent and 6.2 per cent for foreign branches and subsidiaries, ...

FinMin to empanel bankers, law firms for OFS disinvestment, dribbling The Finance Ministry has invited bids for the empanelment of merchant bankers and legal advisors for assisting the government in CPSE disinvestment transactions undertaken through OFS and stock market dribbling. The bids have been invited in four categories — A++, A+, A and B, based on the size of the ...

Rupee appreciates one paisa to 83.36 against US dollar in early trade The rupee rose 1 paisa to 83.36 against the US dollar in early trade on Tuesday amid foreign fund inflow and softening of the American currency against its major rivals. According to forex traders, positive cues from the domestic equity market also boosted investors’ sentiment while the upward ...

NIIF-backed shadow bank considers raising $100 mn with $600 mn valuation The Indian shadow bank aims to complete the funding round by the end of March, said another person. Deliberations are ongoing and details of the fundraising could still change

Automatic payment limit through UPI raised to Rs 1 lakh, says RBI The Reserve Bank of India on Tuesday increased the limit for automatic payments through UPI to Rs 1 lakh per transaction from the existing Rs 15,000 for certain categories, including subscription to mutual funds. As of now, relaxation in Additional Factor of Authentication (AFA) is permitted while processing ...