Finance News

Demand for 5 days of work at banks hits speed bumps, likely to take time A five-day-work week for banks is being planned but there is a lot to consider before any announcement is made. While there is an in-principle agreement between the Indian Banks’ Association (IBA) and public sector banks (PSBs) unions, several other issues will have to be ...

Global finance dominated by few currencies, need to de-risk: RBI DG A handful of currencies currently dominate global finance, and there is a need for de-risking by diversifying the international currency system by adopting liquid currencies, Reserve Bank Deputy Governor T Rabi Sankar said on Thursday. Speaking at the launch of a hackathon event organised as part of ...

RBI updates KYC instructions on wire transfers for banks, institutions The Reserve Bank on Thursday instructed banks and other financial institutions to ensure cross-border as well as domestic wire transfers contain complete information about the originator and beneficiary. The central bank has updated instructions in the Master Direction on Know Your Customer (KYC) related to wire transfers and ...

ADB to explore risk-factored approach for lending to developing nations: FM Finance minister Nirmala Sitharaman on Thursday said India encourages ADB to explore adopting innovative, risk-factored approach for lending to the developing member countries (DMCs). During her intervention in the Governors Plenary meeting of Asian Development Bank (ADB), she expressed India’s support to remove the charter lending limit ...

IndusInd Bank likely to get added to MSCI during Aug rebalancing exercise Decoded: What is index rebalancing, and how does it impact stocks? MSCI India index rebalancing could stoke Rs 13,000-crore churn Stocks to Watch Today: Airline, Tata Steel, PSB, Airtel, Sugar, Max Health Stocks to Watch: Titan, Tata Chem, Adani Group, RIL, Petronet, Apollo Micro Is it time to ...

India’s green financing requirement estimated at 2.5% of GDP: RBI Study India’s green financing requirement is estimated to be at least 2.5 per cent of GDP annually till 2030, a Reserve Bank report said on Wednesday. The country aims to achieve net zero emissions target by 2070. The Reserve Bank of India’s report on Currency and Finance ...

Irdai proposes guidelines for remuneration of core team of private insurers Insurance sector regulator Irdai on Wednesday proposed a revised guidelines for remuneration for non-executive directors and persons in key managerial positions of private insurers to ensure alignment of compensation with prudent risk management. In an exposure draft, the Insurance Regulatory and Development Authority of India (Irdai) said ...

India’s additional green financing need at 2.5% of GDP: RBI report India will need additional annual investment of 2.5 per cent of gross domestic product (GDP) at least for green financing till 2030. This is to bridge the infrastructure gap for climate change goals, according to a Reserve Bank of India (RBI) report. The RBI, in its report on ...

Contracts to revamp New Delhi, Ahmedabad stations ‘axed’ over pricey bids Rail stocks may chug along till budget; book profit selectively: Analysts Mumbai CSMT revamp set to be on track; Ahluwalia Contracts lowest bidder Sale of residential property in Mumbai touches a five-year high in 2022 Apple opens its first official store in Mumbai; what we know so far L&T ...

Multiples Alternate announces $640 million first close of PE fund Illustration: Ajay Mohanty (Reuters) – Indian private equity firm Multiples Alternate Asset Management on Wednesday announced the first close of a $640 million fund aimed at investing in domestic companies. A first close allows a fund to start investing in companies while raising capital for its own fund. ...