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India’s foreign exchange reserves decline by $2.1 billion to $584.2 billion RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% RBI MPC: Here is what experts have to say about the policy announcement RBI’s forex reserves rise for fifth straight week to $564.07 billion India’s forex reserves up $1.65 bn to $586.4 bn, shows ...

A snapshot of term insurance offered by various firms 2023 may see an M&A surge in insurance sector: Shriram General Insurance MD Structure of insurance laws to be altered with proposed amendments: Experts LIC may turn into composite insurer; likely to merge 4 PSU general firms Composite insurance licence regime may trigger M&A activity: HDFC Life CFO LIC may look ...

Aditya Birla Sun Life Corporate Bond Fund Fund Pick: SBI Conservative Hybrid Fund is a consistent outperformer Fund Pick: Aditya Birla Sun Life Short Term Fund a consistent outperformer Fund pick: SBI Focused Equity Fund Fund pick: Nippon India Tax Saver Fund Fund pick: DSP Midcap Fund Summer scoop: how to get yourself a healthy ice cream treat I-T dept ...

Bajaj Allianz declares bonus worth Rs 1,201 cr for policyholders Bajaj Allianz Life, a private life insurer has declared a bonus of Rs 1,201 crores for its policyholders. It includes a regular reversionary bonus of Rs 872 crore and a terminal and cash bonus of Rs 329 crore. The bonus will benefit 1.14 million eligible policyholders who have remained ...

Companies announce raising more funds Several companies on Friday announced that they would raise funds using bonds and commercial papers. This includes companies like Muthoot Finance, IIFL Finance, and Axis Finance, as well as banks like Canara Bank. NTPC NTPC is planning to raise funds by selling commercial papers maturing in three months, a report by Reuters said. The ...

Axis Bank has adequate capital to absorb quarterly loss, says S&P report Bank’s ability to pay dividends is protected, net credit costs have declined: Ratings agency

Centre likely to seek different taxation policy for games of skill, chance In a shift in policy, the Centre has decided to advocate for a different taxation policy for online gaming, with “games of chance” (gambling) being subject to a higher rate of goods and services tax (GST) than “games of skill”, a report by the Financial Express (FE) said. ...

S&P affirms Bank’s long-term issuer credit rating at ‘BBB-‘ S&P upgrades Tata Motors’ long-term issuer, issue credit ratings to ‘BB’ S-P upgrades Axis Bank’s long term issuer rating from ‘BB+’ to ‘BBB-‘ Fitch affirms India at ‘BBB-‘, says medium-term growth outlook is key Fitch affirms India’s sovereign rating at BBB- with stable outlook HDFC Bank stock’s re-rating still some time ...

After decade of wilderness, Indian banking sector regain health but lack caution By Andy Mukherjee Indian banking sector spent most of the last decade out in the wilderness, as a punishment for the lax underwriting standards on their corporate loans. Now they have regained their health, restored profitability and reestablished investors’ trust. The benchmark Nifty Bank Index is close ...

Need for business insurance leads to ‘Policybazaar of Business’ programme Policybazaar, an insurance brokerage firm has launched a new programme “Policybazaar for business” to fill the growing need for corporate insurance in the post-Covid world. After the Pandemic, the need for a business to protect itself as well as its employees against eventualities has become undeniable. Keeping this in ...