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RBI likely buying dollars to prevent rupee appreciation, absorb inflows MUMBAI (Reuters) – The Indian central bank is likely buying dollars via state-run banks to prevent the rupee from appreciating in the wake of inflows, three traders told Reuters on Tuesday. The Indian rupee was trading at 81.8275 per U.S. dollar, having reached 81.7325 earlier. The long ...

39% Indian families claim to be victim of online financial fraud: Report Around 39 per cent of families in a survey claimed to have experienced financial fraud in the last three years and only 24 per cent of them got their funds back, LocalCircles said in a report on Tuesday. The largest group of 23 per cent respondents ...

Extend deadline, says PSU representative on EPF board [ad_1] (This story originally appeared in on Apr 29, 2023) NEW DELHI: Atul Sobti, a representative of public sector enterprises on the EPFO’s Central Board of Trustees, has written to central provident fund commissioner Neelam Shami Rao, asking the pension fund manager to extend the last date of online joint option form ...

HSBC’s profit jumped by $1.5 billon from acquisition of SVB’s UK arm Banking giant HSBC said that its profits got a $1.5 billion boost from the purchase of collapsed Silicon Valley Bank’s (SVB) British business (SVB UK). Europe’s biggest bank posted a pre-tax profit of $12.9 billion for the three months to the end of March, the BBC ...

Rupee appreciates by 10 paise to 81.72 against US dollar in early trade The rupee gained 10 paise to 81.72 against the US dollar in early trade on Tuesday tracking a weak American currency and a firm trend in domestic equities. Forex traders said significant foreign fund inflows and crude oil prices below USD 80 a barrel also ...

Large corporates will never be allowed to open a bank in India: N Vaghul Large corporates will never be allowed to open a bank in India, veteran banker N Vaghul has said. Vaghul said India has learnt from its pre-bank nationalisation experience and will never repeat the same mistakes by allowing large corporations into banking. In the ...

State-run banks likely to launch special drive to recover written-off loans After being prodded by the Centre to expedite proceedings against defaulting borrowers, state-run banks are likely to launch a special drive to recover written-off loans, Economic Times reported. The government has instructed public sector banks (PSBs) to focus on written-off loans and try to recover at least Rs ...

As risks loom, RBI asks banks not to increase exposure to unsecured loans to avoid banking sector crisis The Reserve Bank of India (RBI) is urging domestic banks to keep a close eye on their retail portfolios, especially unsecured loans, as part of increased caution in the face of growing macro-economic uncertainties and bank collapses in the US and Europe, the ...

higher eps pension: Will EPFO extend deadline to apply for higher pension from EPS? [ad_1] The last date to apply for higher pension from the Employees’ Pension Scheme (EPS) is May 3, 2023. This deadline was extended by the Employees’ Provident Fund Organisation (EPFO) by two months from the earlier deadline of March 3, 2023. The extended deadline provided more ...

Irdai asks insurance cos to lay down social media guidelines for employees Regulator Irdai has asked insurance companies to lay down social media guidelines for their employees to ensure that no unverified or confidential information relating to the organisation is disseminated to the public through these platforms. An organisation’s reputation is closely linked to the behaviour of its ...