Finance News

RBI possibly buying dollars in spot, paying forwards via PSBs: Traders MUMBAI (Reuters) – The Reserve Bank of India (RBI) was possibly buying dollars in spot and paying in forwards via public sector banks on Thursday to mop up foreign currency inflows, three traders told Reuters. The rupee was at 81.90 to the dollar, off ...

Worrisome to see no transparency in forex fees for small players: RBI’s Rao The Reserve Bank of India has often been informed of banks levying high charges on the MSME and retail segments for foreign exchange transactions and it is worrisome that there is no transparency in pricing for smaller customers, said Deputy Governor M. Rajeshwar Rao. ...

India must prepare to curb volatility risks of int’l rupee: RBI deputy gov India needs to gear up to manage the inevitable volatility that will emerge in the foreign exchange market as the country progresses further towards internationalisation of the rupee, a deputy governor at the Reserve Bank of India said recently. An international currency ...

Rupee appreciates 13 paise to 81.82 against US dollar in early trade The rupee gained 13 paise to 81.82 against the US dollar in early trade on Thursday, boosted by foreign fund inflows. At the interbank foreign exchange, the domestic unit opened at 81.93 against the dollar, then climbed to 81.82, registering a rise of ...

State Bank of India raises Rs 3,717 cr from its third AT1 bond sale The nation’s largest lender State Bank of India on Wednesday raised Rs 3,717 crore through additional tier 1 bond sale. The bank said this is the third Basel III compliant additional tier 1 (AT1) bond sale and the latest issue was ...

Rupee slips, bond yield jumps to 4-month high on hawkish Fed signals Sovereign bonds and the rupee weakened on Wednesday after Federal Reserve Chair Jerome Powell outlined a more aggressive path for US rate hikes than was expected, leading to concerns about capital outflows from emerging markets like India. While dollar sales by exporters towards ...

Shriram General Insurance opens two women-only branches in the north Shriram General Insurance Company (SGIC) has set up two women-only branches in Ludhiana and Jaipur, in the first such initiative in the industry. The entire workforce, from the branch manager to the support staff, consists of women. SGIC plans to replicate the model nationwide, going forward. ...

SBI raises Rs 3,717 cr via AT-1 bonds at 8.25% with 10-yr call option State Bank of India, the country’s largest lender raised funds worth Rs 3,717 crore at a coupon rate of 8.25 per cent through additional tier-1 (AT-1) bonds on Wednesday, sources told Business Standard. The bonds have a ten-year call option, the ...

IDBI Bank proclaims Kapil & Dheeraj Wadhawan as ‘wilful defaulters’ of Rs 758 cr loans After dilly-dallying for over two years, the IDBI Bank Ltd. has finally declared the DHFL promoters and siblings — Kapil Wadhawan and Dheeraj Wadhawan — as ‘wilful defaulters’ in a Rs 758 crore unpaid loans case.   The IDBI ...

Rupee slides as Federal Reserve’s Powell hints at higher US terminal rates The rupee weakened sharply against the US dollar in early trade Wednesday after comments by Federal Reserve Chair Jerome Powell suggested that the central bank would tighten monetary policy to a greater extent than earlier anticipated. With the US dollar index surging to ...