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Rupee gains 18 paise to 81.08 against weak US dollar in overseas trade The rupee appreciated 18 paise to 81.08 against the US dollar in early trade on Friday supported by a weak dollar in the overseas market. Forex traders said weak domestic equities and foreign fund outflows weighed on the local unit and restricted the appreciation ...

Rupee appreciates by 8 paise to close at Rs 81.22 against US dollar The rupee appreciated by 8 paise to close at 81.22 (provisional) against the US dollar on Thursday on broad dollar weakness after Federal Reserve Chairman Jerome Powell said the pace of interest rate hikes may slow. Forex traders said foreign fund inflows and a ...

e-Rupee: India’s digital currency fails to excite interest, say bankers  A month into India’s pilot project for using an official digital rupee for inter-bank and institutional transactions, stakeholders are seeing no benefits, several bankers said. Seven bankers told Reuters that using the e-rupee of the Reserve Bank of India (RBI) was much the same as internet-based banking ...

SoftBank plans to sell 5% stake in PB Fintech via block deal: Report SoftBank Group plans to sell a 5% stake in India’s PB Fintech Ltd, the parent of online insurance aggregator Policybazaar, through a block deal, local media channel CNBC-TV18 reported on Thursday, citing sources. The block deal on Friday could be at a base price ...

Citi deal may be complete in May: Axis Bank MD & CEO Amitabh Chaudhry Axis Bank is trying to ensure the completion of its purchase of Citibank’s retail business by March 1 next year, but there is a possibility that the process could spill over to May, the domestic private lender’s MD, CEO Amitabh Chaudhry said. “We’re ...

Rupee gains as Fed’s Jerome Powell hints at slower US rate hikes The rupee and government bonds strengthened sharply on Thursday after Federal Reserve Chairman Jerome Powell hinted that going forward, the US central bank may reduce the pace of what has been an extremely aggressive policy tightening cycle so far in 2022. The domestic currency closed ...

Carlyle, Advent get conditional nod from RBI for 9.99% in Yes Bank Private equity majors The Carlyle Group and Advent have got the Reserve Bank’s nod to own up to 9.99 per cent in Yes Bank, the private sector lender said on Thursday. The two PE funds in July this year expressed an intent to pump-in over ...

Bank of India raises Rs 1,500 crore through additional Tier 1 bonds Public sector lender Bank of India has raised capital worth Rs 1,500 crore through additional tier I bonds (AT1 bonds) to meet regulatory norms and support business growth. Following a strong response, the coupon was fixed at a finer rate of 8.57 per cent against ...

RBI revises norms for classifying UCBs as financially sound & well managed As a step to enhance the profile of urban cooperative banks (UCBs), Reserve Bank of India today prescribed revised norms to categorise UCBs as Financially Sound and Well Managed (FSWM) banking entities. These norms are applicable with immediate effect. For categorising themselves as FSWM category ...

RBI announces 4-tiered regulatory framework for urban cooperative banks The Reserve Bank of India (RBI) on Thursday announced a four-tiered regulatory framework for categorisation of Urban Co-operative Banks (UCBs), Besides, the central bank has come out with norms pertaining to the net worth and capital adequacy of these banks. The four-tiered regulatory framework, based on size of ...