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Rupee rises 4 paise to 82.33 against US dollar on positive domestic equity The rupee appreciated by 4 paise to 82.33 against the US dollar in early trade on Wednesday, tracking positive sentiments in the domestic equity market and relatively weaker dollar against major currencies. At the interbank foreign exchange, the domestic unit opened stronger ...

Paytm UPI LITE crosses 2 mn users with over half million daily transactions Homegrown Paytm Payments Bank on Wednesday announced it now has over 2 million users on Paytm UPI LITE. The Bank recorded over half a million daily transactions for Paytm UPI LITE through the Paytm app, it said in a statement. “We ...

Sovereign Gold Bond: Check premature redemption details for SGB 2016-17 Series IV [ad_1] The Reserve Bank of India (RBI) has fixed the price for premature withdrawal of Sovereign Gold Bond 2016-17 Series IV at Rs. 5,557 and the due date is on March 17, 2023. SGB 2016-17 Series IVSovereign Gold Bond Scheme 2016-17 Series IV issue date was on March ...

No contagion seen on Indian bonds, forex from SVB collapse: DBS Bank Indian fixed-income and foreign-exchange markets are unlikely to see any major fallout after the collapse of a U.S. lender dented risk sentiment, a senior treasury executive at DBS Bank said on Tuesday. “We generally have an FX fallout if there is a change ...

BofA gets more than $15 bn in deposits after Silicon Valley Bank collapse Bank of America Corp. mopped up more than $15 billion in new deposits in a matter of days, emerging as one of the big winners after the collapse of three smaller banks dented confidence in the safety of regional lenders. The inflows ...

MCLR Hike: Banks may hike MCLR by 150 bps in FY24 amid tight liquidity: Report Commercial banks are likely to increase the marginal cost of funds based lending rate (MCLR) by 100-150 basis points (bp) in the next financial year (FY24) amid a rise in the cost of money and tight liquidity. The transmission of monetary policy ...

Most APAC fin institutions immune to US bank failure, rising rates: Moody’s Most Asia Pacific financial institutions are not exposed to the failed US banks and are not as susceptible to large losses from debt security holdings as Silicon Valley Bank was, Moody’s said on Tuesday. On March 12, US regulators closed Signature Bank, just ...

PNB signs deal with warehousing body for financing against e-NWR Punjab National Bank (PNB) and Warehousing Development & Regulatory Authority (WDRA) signed on Monday an agreement to promote financing against e-NWR (Electronic Negotiable Warehousing Receipt). The partnership will give farmers information about e-NWR, a negotiable instrument, and undertake outreach activities to improve agricultural pledge finance ...

Bank borrowings jump 64% in FY23, cross Rs 5 trillion mark for first time A structural change in the liquidity landscape brought about by much lower surplus cash and booming credit growth has resulted in a surge in banks’ reliance on short-term funding avenues in the current financial year. Reserve Bank of India (RBI) data ...

Rupee slides as Silicon Valley Bank collapse sparks global risk aversion The rupee weakened sharply against the US dollar on Tuesday as a global wave of risk aversion sparked by the collapse of California-based Silicon Valley Bank (SVB) hit emerging-market (EM) currencies and dragged stock markets lower. The domestic currency closed at 82.49 per dollar, ...