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Rupee appreciates 25 paise to 81.81 against US dollar in early trade The rupee appreciated by 25 paise to 81.81 against the US dollar in early trade on Monday, tracking positive sentiments in the domestic equity market and subdued dollar against major currencies. At the interbank foreign exchange, the domestic unit opened at 81.78 against ...

SVB Crisis: What led to the collapse of start-ups’ favourite bank? On Friday, the banking regulators in the US shut down the “financial partner of the innovation economy”, as the Silicon Valley Bank (SVB) called itself after it suffered a swift collapse. It has sent shock waves across the tech and banking industries. Undoubtedly, the bank catered ...

How the industry plans to deal with proposed taxation of traditional covers, Vignesh Shahane, Ageas Federal Life Insurance explains [ad_1] To deal with the proposed taxation of traditional plans, the industry is evolving a strategy to shift focus from high ticket size to number of policies sold, Vignesh Shahane, MD & CEO, Ageas Federal Life Insurance tells ET Wealth. The ...

Govt to infuse more capital in public sector general insurers next year The government may have to infuse more capital in the three public sector general insurance companies to improve their financial health, a senior government official said. The government last year provided Rs 5,000 crore capital to three insurers –National Insurance Company Limited, Oriental ...

After BoB, Bank of Maharashtra cuts home loan rate effective March 13 After Bank of Baroda, now Bank of Maharashtra (Mahabank) has reduced home loan rate by 20 basis points to 8.4 per cent per annum as the lender scales up efforts to cater to growing volumes ahead of the close of the financial year. ...

Lenders to miss March-end deadline to resolve key insolvency cases Indian lenders are set to miss March-end deadline to resolve several key bankruptcy accounts including Reliance Capital and Videocon Industries resulting in blockage of funds worth over Rs 1 trillion. The banks were targeting to conclude the entire process by March-end so that they can resolve these accounts. ...

FDIC, US Fed discuss fund to backstop deposits if more banks fail The Federal Deposit Insurance Corp. and the Federal Reserve are weighing creating a fund that would allow regulators to backstop more deposits at banks that run into trouble following Silicon Valley Bank’s collapse. Regulators discussed the new special vehicle in conversations with banking ...

SBV with Massachusetts branches seized by FDIC as depositors pull cash The Federal Deposit Insurance Corporation seized the assets of Silicon Valley Bank on Friday, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis. The FDIC ordered the closure of Silicon Valley Bank and immediately took position of ...

Bank of Baroda plans to divest 49% stake in credit card subsidiary Public sector lender Bank of Baroda (BoB) is planning to rope in a strategic investor for its credit card subsidiary, BOB Financial Solutions (BFSL), by divesting 49 per cent stake. At present, BoB holds 100 per cent in the entity. While ...

RBI: ICICI Bank given time till Sept 2024 to pare stake in ICICI Lombard The Reserve Bank of India (RBI) has approved private sector lender ICICI Bank’s request seeking extension of time till September 9, 2024 for divesting its shareholding in its general insurance subsidiary, ICICI Lombard General Insurance, below 30 per cent. In a ...