Rupee gains 5 paise to 81.97 against US dollar on foreign fund inflows The rupee was trading at 81.97 against the US dollar at 9.35 am, registering a gain of 5 paise over the previous close of 82.02. (Photo: Pexels) The rupee strengthened by 5 paise to 81.97 against the US dollar in early trade on Wednesday on foreign ...

Housing sales hit new peak of 115,000 in Q2 Despite spiralling home loan rates in recent past and global economic headwinds including layoffs by several large and small corporates, the bull run in the Indian housing market has not ended yet.  Quarterly housing sales are at an all-time high with approximately 1,15,100 units sold in the second quarter ...

Only 3 unicorns this year, 20% startups downgraded India’s most valuable startups are having a tough time holding on to their value amidst greater regulatory scrutiny and a funding winter.  At least 20% of startups in the list of ‘future unicorns’ dropped off the list or got downgraded, according to the  ASK Private Wealth Hurun India Future Unicorn Index ...

Rate hikes revealed hidden stresses of banking sector: Chandrasekaran The rise in interest rates has revealed hidden stresses in parts of the banking sector and this could impact global growth in the coming year, according to Tata Group and Tata Motors Chairman N Chandrasekaran. In his address to shareholders of Tata Motors in the annual report for 2022-23, ...

RuPay cardholders will be able to access airport lounges in major cities Priority Pass Access India has partnered with the National Payments Corporation of India, offering airport lounge access to RuPay card holders Through this partnership, eligible RuPay cardholders in India will now have the opportunity to access over 50 premium lounges and airport experiences in major cities across ...

RBI relaxes restrictions on HDFC Credila over on-boarding of new customers Housing Development Finance Corporation (HDFC) on Tuesday said the Reserve Bank of India has relaxed restrictions on its education finance arm, HDFC Credila, related to the addition of new customers.   The restrictions were eased after the company met RBI’s condition that the application for change in ...

CreditAccess Grameen syndicates social loan facility of up to $200 mn CreditAccess Grameen, Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI), on Tuesday said it has signed a historic syndicated social loan facility of up to $200 million (about Rs 1,640 crore). This will qualify as External Commercial Borrowing (ECB) under the automatic route of the RBI, the company said ...

Wealth management firms go beyond metros to tap post-Covid surge in demand Wealth management firms are expanding their footprint beyond the tier-I cities as high net worth individuals (HNIs) in smaller cities look to diversify their portfolios beyond gold and real estate. Wealth managers say demand has picked up post-Covid with the pandemic breathing new life into certain industries. ...

India’s Jan-March current account deficit narrows as trade gap shrinks: RBI India’s current account deficit narrowed sharply in the January to March quarter, mainly on the back of a moderation in the trade gap and an increase in services exports, the Reserve Bank of India said on Wednesday. The current account deficit stood at $1.3 billion or 0.2% ...

Only 2 insurance covers in India for adventure junkies If you are an adrenaline junkie that loves to plan your holidays around adventure sports and high-risk activities, the insurance industry in India won’t really cover you  due to the high risk of injuries and loss of life.   While a few travel insurance plans do provide coverage for adventure sports ...