Finance News

NARCL may revive Srei’s group’s infra financing arm SIFL, wind up SEFL Public sector asset reconstruction company NARCL is likely to revive Srei Infrastructure Finance Ltd (SIFL) and wind up the group’s equipment financing arm SEFL after recovering outstanding debt in seven years, a source said on Sunday. NARCL (National Asset Reconstruction Company) on Wednesday ...

Banks’ net interest income soars by a record 25.5 pc in Q3: Analysis Net interest income of banks grew by a record 25.5 per cent to Rs 1.78 lakh crore in the December 2022 quarter on-year, driven by a healthy credit off-take and higher yield on advances, according to an analysis. The quarter saw banks ...

G-Sec auction lands on underwriters’ books after 5 months; 10-yr yield up Government bond prices plunged with the yield on the 10-year benchmark paper increasing to a two-week high, as a large portion of a scheduled sovereign debt auction unexpectedly landed on the books of underwriters to signal weak demand, traders said Friday. The yield ...

Outward remittance in April-December almost equal to FY22 figure: RBI Outward remittances under the Reserve Bank of India’s (RBI’s) liberalised remittance scheme (LRS) continued its momentum in December, with Indians remitting over $2 billion during this period, latest data released by the central bank in its monthly bulletin showed. In the nine-month period between April ...

RBI net bought dollar in forex market for second month in December The Reserve Bank of India (RBI) net purchased $3.8 billion in the foreign exchange market in December 2022, marking the second consecutive month in which the central bank acquired dollars. The RBI bought $12.81 billion and sold $8.97 billion in the currency market in Dece­mber, data ...

India’s foreign exchange reserves post biggest weekly fall in 10 months The RBI’s foreign exchange reserves fell by $8.3 billion to $566.95 billion in the week ended February 10, marking the sharpest weekly fall since April 1, 2022. The reserves are at their lowest level since January 6, 2023. The fall for the second straight week ...

Monetary policy stance must remain disinflationary, says RBI report Following an unexpectedly sharp rise in the consumer price index (CPI)-based inflation in January, the state of the economy report of the Reserve Bank of India said inflation could be stubborn, and that the monetary policy stance needs to remain disinflationary, indicating that the central bank is unlikely to ...

Bankers highly optimistic about credit demand across sectors: RBI survey Bankers are “highly optimistic” about credit demand across all the main sectors in the short term, a RBI survey of lenders said on Friday. After sagging for the last two years, the non-food credit growth has been hovering above 15 per cent in FY23. ...

Moneyboxx cumulative disbursements reach Rs 440 crore till January Moneyboxx Finance Limited, a BSE-listed NBFC (non-banking finance company), has reached cumulative disbursements of Rs 440 crore up to January 2023, covering more than 26,000 borrowers across six states, with over 50 per cent of them being women entrepreneurs. The company is focusing on financial inclusion ...

India’s forex reserves post biggest weekly decline in over 11 months India’s foreign exchange reserves fell 8.3% in the week to February 10, logging its biggest decline in more than 11 months, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday. The reserves stood at a one-month low of $566.95 billion at the ...