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Rupee depreciates 40 paise to all-time low of 81.93 against US dollar The rupee depreciated 40 paise to an all-time low of 81.93 against the US dollar in early trade on Wednesday as the strengthening of the American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and ...

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RBI policy: Here is how a repo rate hike can affect your finances Reserve Bank of India (RBI), India’s central bank is likely to hike repo rates again to quell inflation. The repo rate is the interest rate at which the RBI lends short-term funds to banks. After a small jump in May of 40 basis points (1 basis ...

Number of credit cards shrink by 23 lakh in a month [ad_1] (This story originally appeared in on Sep 28, 2022) MUMBAI: The total number of credit cards declined by 22.6 lakh on a net basis in August this year to 7.8 crore from over 8 crore in the previous month due to a change in the RBI’s regulation that ...

Rupee hits new low, inches towards 82 per dollar on hawkish US Fed The rupee weakened sharply against the US dollar to hit a fresh low as comments by members of the US Federal Reserve strengthened the anticipation of the American central bank continuing to hike rates at a rapid pace. The expectation of a longer US ...

DBS Bank revises savings account interest rates [ad_1] DBS Bank has revised its savings account interest rates effective from September 26, 2022. The bank will offer interest rates ranging between 3.5% and 5%. According to the DBS Bank website, below are the interest rates for digital savings accounts and digibank e-wallet. According to website, “Interest rate up to 25th Sep ...

Hawkish Fed may prompt Reserve Bank to deliver a 50-basis-point hike Interest rate hikes in the United States and the resultant pressure on the rupee is likely to give the Reserve Bank of India (RBI) reason to deliver a 50-basis-point rate hike on Friday even as it tries to protect a recovery in growth. The RBI’s monetary ...

RBI’s MPC to start 3-day meet on Wednesday, another rate hike likely The Reserve Bank’s rate-setting panel will start its 3-day deliberations on Wednesday amid expectations of yet another rate hike of 50 basis points to check high inflation, in line with similar actions taken by other major central banks, including the US Fed. Based on the ...

Thrust on non-par products to yield desired results: LIC chief M R Kumar State-owned Life Insurance Corporation (LIC) is confident that its strategy to rejig the product portfolio by introducing more non-participating products and a sharper focus on the bancassurance channel will give it the desired results in terms of growth and market share. “We intend to ...

India Ratings upgrades non-bank lenders’ outlook to neutral from improving Domestic rating agency India Ratings on Tuesday upgraded its outlook on the non-bank lenders to “neutral” from “improving” on better collection efficiencies and asset growth in the sector. It, however, said that liability management is key for managing margins and loan growth for non-bank finance companies (NBFCs) ...