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Banks hike loan interest rates: ICICI Bank, PNB, Bank of India increase MCLR on loans [ad_1] Big banks such as ICICI Bank, Punjab National Bank (PNB), and Bank of India, have increased the lending rate based on the marginal cost of funds lending based rate (MCLR). The increase rates will into effect from December 1, 2022. Hike in lending ratesFor ...

Rupee gains 32 paise to 80.98 against US dollar after Fed chair’s remark The rupee appreciated 32 paise to 80.98 against the US dollar in early trade on Thursday on a broad dollar weakness after Federal Reserve Chairman Jerome Powell said the pace of interest rate hikes may slow. At the interbank foreign exchange, the domestic unit ...

NPS Account: Not satisfied with your NPS account recordkeeper? You can change your CRA now [ad_1] The managing authority of the National Pension System (NPS) – the Pension Fund Regulatory and Development Authority (PFRDA) – allows three central record-keeping agencies (CRAs) to manage an individual’s NPS accounts. But an individual can open an NPS account only through one of the ...

Rupee seen higher at 81.20 after Fed Chair Powell’s dovish tilt; RBI eyed The Indian rupee is expected to open higher against the dollar on Thursday after the U.S. Federal Reserve Chair Jerome Powell’s comments were viewed as dovish. The rupee is tipped at around 81.20 per U.S. dollar in early trades, compared with 81.4225 in the ...

What are Alternative Investment Funds? Alternative Investment Fund or AIF is any fund established in India which is a privately pooled investment vehicle that collects funds from sophisticated investors, both Indian or foreign, for investing. This fund can deploy its money in accordance with a defined investment policy for the benefit of its investors. AIF does not include ...

Reserve Bank of India, Japanese regulator hold talks on clearing houses The Reserve Bank of India (RBI) and the Financial Services Agency (FSA) of Japan on Wednesday exchanged letters of cooperation in the field of central counterparties (CCPs) with the expressed aim of improving mutual cooperation. “With this exchange of letters, the RBI and the FSA are committed to deepening ...

Important features of RBI Digital Rupee [ad_1] Important features of RBI Digital Rupee [ad_2]

Rupee gains sharply against US dollar as MSCI rejig spurs flows The rupee strengthened sharply against the US dollar on Wednesday as the semi-annual rebalancing of the MSCI India index propelled inflows and as some foreign banks sold the greenback on behalf of overseas firms looking to invest here, dealers said. Strength in the Chinese yuan also ...

Will you benefit by opting for higher pension from EPS after Supreme Court ruling? [ad_1] The festive season brought in good tidings for members of the Employees’ Pension Scheme (EPS) with the Supreme Court providing a four-month window for members to avail an option of making higher contributions to the scheme. Background For EPS members, out of the 12% (of ...

RBI’s modified digital lending norms to come in effect from Dec 1 The Reserve Bank’s modified guidelines on digital lending that seek to protect customers from exorbitant interest rates by certain entities and also check unethical loan recovery practices will come into effect from Thursday. Under the new norms, all loan disbursals and repayments are required to ...