Finance News

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, ...

Rupee falls 26 paise to 82.49 against US dollar The rupee declined by 26 paise to 82.49 (provisional) against the US dollar on Tuesday amid stronger dollar, negative sentiment in the domestic equity market and unabated foreign fund outflows. At the interbank foreign exchange, the domestic unit opened lower at 82.27 against the dollar and ...

RBI norms: Loan disbursals by digital lenders double in Q3 amid new RBI norms: Report Loan disbursals by digital lenders have doubled in volume and value terms in Q3FY23, said a report on Tuesday. Digital lenders disbursed around 18 million loans worth Rs 18,537 crore during this period, up 147 per cent in volume terms ...

Two US bank failures not to impact banks in India, APAC: Moody’s The successive failure of two private banks in the US — Signature Bank and Silicon Valley Bank — though would result in tightening of liquidity in the global debt markets, the impact will be limited for most of the rated finance institutions in India and ...

SVB crisis: How the ripples of the bank's plunge reached foreign shores Silicon Valley Bank crisis: How has the bank’s failure affected other banks and their stocks worldwide? Read more to find out

Rupee depreciates 12 paise to 82.35 against US dollar in early trade The rupee depreciated by 12 paise to 82.35 against the US dollar in early trade on Tuesday, amid stronger dollar and foreign fund outflow from the domestic equity market. At the interbank foreign exchange, the domestic unit opened lower at 82.27 against the ...

JPMorgan Chase & Co: Too-big-to-fail US lenders rake in deposits after three banks fail After the back-to-back collapse of three smaller banks, their biggest US counterparts are seeing a rush of depositors fearful the crisis will spread. JPMorgan Chase & Co., the largest US bank, alone received billions of dollars in recent days, and Bank ...

Where will startups turn to now that the Silicon Valley Bank is gone? Life was already tough for startups. Funding had dropped to the lowest in five years, venture capital investors were getting skittish, and wealthy angels started holding onto their cash instead of sharing it like candy. Then Silicon Valley’s own bank shut its doors, halting ...