Karnataka CM Siddaramaiah set to present State Budget today at 12 noon Chief Minister Siddaramaiah has arrived at Vidhana Soudha in Bengaluru to present the state budget

India’s campaign to internationalise rupee gets off to a slow start By Subhadip Sircar and Anup Roy India’s year-old campaign to boost the rupee’s role in cross-border payments has made little headway, according to people familiar with the matter, underscoring the challenges for countries trying to reduce their dependence on the dollar.   The Reserve Bank of India has ...

Why Indians stay away from health insurance Affordability and inability to understand complexities are the two biggest hurdles preventing many Indians from buying health and life insurance policies, according to a recent study by Policybazaar. The study, titled ‘How India Buys Insurance’, reveals that high premiums are preventing individuals from obtaining insurance cover, or in some cases, adequate insurance ...

Indian lenders want RBI to conduct more overnight reverse repo auctions Several Indian banks said on Thursday the Reserve Bank of India (RBI) should continue with more overnight variable rate reverse repo auctions, despite its first such attempt seeing subscriptions of less than half the target amount of 1 trillion rupees.   The RBI’s overnight variable rate reverse ...

Fund pick: HDFC Corporate Bond Fund Fund pick: SBI Focused Equity Fund Fund pick: Nippon India Tax Saver Fund Fund pick: DSP Midcap Fund Fund pick: IDFC Bond Fund – Short Term Plan Fund pick: Franklin India Smaller Companies Fund Indian lenders want RBI to conduct more overnight reverse repo auctions A snapshot of term insurance plans with 2 riders ...

State-run banks confident of withstanding macro shocks: Finance Ministry The finance minister has asked banks to ensure there is a fair and transparent recognition of non-performing assets and to take steps to improve deposits, the ministry added. (Photo: Twitter @FinMinIndia) NEW DELHI (Reuters) -India’s state-run banks are confident of withstanding any macroeconomic shocks and expect their outlook to improve, ...

Securitisation volumes surge 60% YoY at Rs 53,000 crore in first quarter Securitisation volumes surged by more than 60 per cent year-on-year to touch Rs 53,000 crore in the first quarter ending June 2023, fuelled by high credit growth and favourable macroeconomic conditions, according to rating agency ICRA. Securitisation involves pooling of loans and selling them to a ...

Non-life insurance companies report 14% growth in June, shows GIC data Non-life insurance companies reported 14.01% growth in gross written premium in June to Rs 20,112.8 crore, latest data released by General Insurance Council showed. For the April-June period, these companies reported a growth of 17.5% to Rs 63,574.30 crore. General insurance companies, (excluding health insurers) posted ...

RBI governor Shaktikanta Das asks states to improve expenditure quality Flagging the need to enhance the health of finances, Reserve Bank of India governor Shaktikanta Das on Thursday asked state governments to focus on fiscal consolidation and improve quality of expenditure. In June 2023, RBI’s Financial Stability Report had sounded a note of caution on the high debt ...

15 financial transactions that cannot be done with an inoperative PAN The government created the permanent account number (PAN) to enable matching of information relating to investments, loans, and other business activities of taxpayers collected through various sources for expanding the tax base. As per section 139AA of the Income Tax Act, 1961, it was mandatory to link ...