Finance News

Borzo, Symbo tie up to provide insurance to over 50,000 delivery partners Borzo (erstwhile WeFast), a global intra-city courier delivery service, has partnered with Symbo India Insurance Broking to provide medical insurance benefits to all its 50,000 delivery partners. Borzo delivery partners will have easy access to Symbo’s comprehensive health insurance plans that address wellness and finances. ...

RBI may be selling dollars in NDF to keep rupee above 83/USD: Bankers By Anushka Trivedi and Nimesh Vora MUMBAI (Reuters) – The Reserve Bank of India has likely been selling dollars in the non-deliverable forward (NDF) market this week to prevent the rupee from weakening past 83 per dollar, five bankers told Reuters on ...

Rupee depreciates 8 paise to 82.78 against US dollar in early trade The rupee depreciated 8 paise to 82.78 against the US dollar in early trade on Friday, weighed down by a strong American currency and a muted trend in domestic equities. At the interbank foreign exchange, the domestic unit opened weak at 82.77 against ...

India setting up $4 billion fund to backstop corporate debt market India is setting up a fund worth Rs 33,000 crore ($4 billion) to provide liquidity to its corporate debt market during bouts of stress, to help stem panic selling and ease redemption pressures, an SBI Mutual Fund executive told Reuters. The government will provide ...

RBI makes changes in NEFT, RTGS for daily reporting of foreign remittances With the Home Ministry mandating SBI to report all details of overseas donors, including purpose of remittances on daily basis, the Reserve Bank of India (RBI) on Thursday made necessary changes in NEFT and RTGS systems for Foreign Contribution (Regulation) Act (FCRA) related transactions. ...

HDFC Bank goes live on ‘Rupay Credit on UPI’ feature for customers HDFC Bank is live on ‘RuPay credit card on UPI’ feature, becoming the first private sector bank to take up a service that allows customers to use RuPay credit cards on UPI with BHIM and other UPI-enabled apps. HDFC Bank RuPay credit cards ...

Investment in pvt wireless network seen at $ 250 mn by 2027: Nokia report India’s investment in private wireless network is expected to reach nearly USD 250 million by 2027, according to a report by Nokia that also talked of a three-fold jump in mobile data usage in the country over last five years. Nokia’s ...

HDFC prices its biggest ever rupee bond issuance; to raise Rs 25,000 crore Housing Development Finance Corp. priced its biggest ever rupee bond issuance ahead of a merger with its banking unit, which will create an Indian financial services behemoth valued at more than $200 billion. India’s largest mortgage lender will raise Rs 25000 crore ...

Rupee up 21 paise to 82.62 against dollar amid firm trend in equity mkt The rupee gained 21 paise to 82.62 against the US dollar in early trade on Thursday supported by broad dollar weakness and a firm trend in domestic equities. Forex traders said upbeat domestic trade deficit data and foreign fund inflows supported ...

Dollar climbs on higher rate expectations, Aussie slides on jobs shock By Rae Wee SINGAPORE (Reuters) – The dollar advanced on Thursday after strong U.S. retail sales data underpinned the resilience of the world’s largest economy, cementing the case that the Federal Reserve still has further to go in tightening rates. Elsewhere, the Australian ...