Finance News

Suzlon Energy announces early redemption of FCCBs worth $35.9 million Suzlon Energy on Wednesday announced early redemption of USD 35,931,200 Foreign Currency Convertible Bonds (FCCBs) which were due for payment in 2032. “This is to inform that the company has redeemed the entire outstanding FCCBs at their principal amount aggregating to USD 529,338.11 together with accrued but unpaid ...

Farm subsidies impacts food security, WTO needs to look with open mind: FM The World Trade Organisation (WTO) should look at the issue of farm subsidies with an open mind as it impacts the food security needs of emerging economies in the backdrop of Covid pandemic and the Russia-Ukraine war, finance minister Nirmala Sitharaman said on Wednesday. Speaking ...

38 new branches, ATMs to be opened in Arunachal Pradesh: Union minister Union Minister Dr Bhagwat Kishanrao Karad has said that the banking industry would expand its network in Arunachal Pradesh as 38 new branches and an equal number of ATMs will be opened in the state in the next six months, according to an official statement issued here ...

Net profit zooms 86% at Rs 581.24 cr on improvement in margins UCO Bank net profit up 145% at Rs 504 cr in July-September quarter Placement offers at IITs in 2023 may not be as high as last year: Report UCO Bank Q4 net profit rises 86% to Rs 581.24 cr, NPA down to 4.78% Old income tax regime vs ...

Chase India to set up SRO in light of recent crackdown on Chinese loan apps Amid the government crackdown on illegal loan apps, research firm Chase India in a report on Tuesday proposed setting up a self-regulatory organisation (SRO) for the digital lending industry. The report on whitelisting framework for digital lending apps (DLAs) intends to support the ...

RBI likely buying dollars to prevent rupee appreciation, absorb inflows MUMBAI (Reuters) – The Indian central bank is likely buying dollars via state-run banks to prevent the rupee from appreciating in the wake of inflows, three traders told Reuters on Tuesday. The Indian rupee was trading at 81.8275 per U.S. dollar, having reached 81.7325 earlier. The long ...

39% Indian families claim to be victim of online financial fraud: Report Around 39 per cent of families in a survey claimed to have experienced financial fraud in the last three years and only 24 per cent of them got their funds back, LocalCircles said in a report on Tuesday. The largest group of 23 per cent respondents ...

HSBC’s profit jumped by $1.5 billon from acquisition of SVB’s UK arm Banking giant HSBC said that its profits got a $1.5 billion boost from the purchase of collapsed Silicon Valley Bank’s (SVB) British business (SVB UK). Europe’s biggest bank posted a pre-tax profit of $12.9 billion for the three months to the end of March, the BBC ...

Rupee appreciates by 10 paise to 81.72 against US dollar in early trade The rupee gained 10 paise to 81.72 against the US dollar in early trade on Tuesday tracking a weak American currency and a firm trend in domestic equities. Forex traders said significant foreign fund inflows and crude oil prices below USD 80 a barrel also ...

Large corporates will never be allowed to open a bank in India: N Vaghul Large corporates will never be allowed to open a bank in India, veteran banker N Vaghul has said. Vaghul said India has learnt from its pre-bank nationalisation experience and will never repeat the same mistakes by allowing large corporations into banking. In the ...