Finance News

Rupee depreciates 9 paise to 82.73 against US dollar in early trade The rupee depreciated 9 paise to 82.73 against the US dollar in early trade on Friday, weighed down by the strength of the American currency in the overseas market. Sustained foreign fund outflows further dented investor sentiments, according to forex traders. At ...

Indian banks to issue bonds to maintain capital levels: CARE Ratings With credit off-take increasing, Indian banks are expected to issue bonds to maintain their capital levels and support their advances while cost of funds — deposits and borrowings are likely to increase, said CARE Ratings. “To support credit-off take, banks are expected to shore ...

HDFC Bank raises $750 million via dollar bond sale, to pay coupon of 5.686% The country’s largest private sector lender HDFC Bank on Thursday announced that it has raised USD 750 million through a dollar bond sale. The bank said it will be paying a coupon of 5.686 per cent for the three year bonds, ...

Banks can see rise in bad loans from retail, small businesses: SBI official Indian banks could see an increase in bad loans in the retail and small business segments from its recent low levels, an official with the country’s largest lender said on Thursday. While loans to this segment have been growing fast, defaults have ...

Axis Bank-Citibank deal likely to be completed by March 1 Private sector lender Axis Bank has informed the stock exchanges that the deal to acquire Citibank India’s consumer business and NBFC business of Citicorp is expected to be completed by March 1. “We now wish to inform you that both parties have made progress on ...

Reliance General Insurance seeks a capital infusion of Rs 600 crore Reliance General Insurance, a subsidiary of Reliance Capital has sought a capital infusion of Rs 600 crore from its holding company to improve its solvency level. Reliance Capital is undergoing bankruptcy proceedings since November 2021 after defaulting on loans worth Rs 24,000 crore. The ...

Rupee gains 11 paise to 82.77 against US dollar in Thursday’s early trade The rupee gained 11 paise to 82.77 against the US dollar in early trade on Thursday as the American currency retreated from its elevated levels. At the interbank foreign exchange, the domestic unit opened at 82.78 against the dollar and marginally rose ...

FDI equity inflow contracts 15% to $36.7 billion in Apr-Dec: Govt data Foreign direct investment (FDI) in equity during the first three quarters of this fiscal year declined 15 per cent year-on-year to $36.75 billion, according to the data released by the Department for Promotion of Industry and Internal Trade (DPIIT) on Wednesday. In all, ...

BS Banker of the Year Award: Jury to meet on Thursday to pick winner A high-powered jury comprising an eminent former central banker and financial sector stalwarts will meet virtually on Thursday to select the winner of the Business Standard Banker of the Year award for 2021-22. The jury will be chaired by SS Mundra, ...

RBI MPC minutes show deepening concerns over inflation pressures The minutes of the Monetary Policy Committee (MPC)’s Feb 6-8 meeting showed an increasing degree of concern among most members over persistent inflationary pressures, with the rate-setting panel largely flagging stubbornly high core inflation. At the conclusion of the meeting on February 8, the six-member MPC ...