Finance News

IRDAI should set up a committee to review its regulations: Experts In line with Finance Minister Nirmala Sitharaman’s budget announcement, the Insurance Regulatory and Development Authority of India (IRDAI) should set a committee of its own to review its various regulations governing the sector, said industry experts.   They also said the said committee ...

Rupee falls 42 paise to 82.50 to the dollar on back of domestic equities The rupee depreciated 42 paise to 82.50 against the US dollar in early trade on Monday, weighed down by a strong American currency and a muted trend in domestic equities. Sustained foreign fund outflows and firm crude oil prices further dented ...

Bond yields and rupee to closely track RBI’s monetary policy meet Indian government bond yields and the local currency will track the Reserve Bank of India’s monetary policy decision, due mid-week, for guidance, and any dovish tilt in tone could see the benchmark bond yield break below the crucial 7.25% level. The RBI is widely ...

Paytm, PhonePe to launch UPI Lite for smaller epayments soon: Report Paytm and PhonePe are likely to launch the Unified Payments Interface (UPI) Lite on their mobile applications soon, a report by the Economic Times (ET) said. On Paytm, the feature is expected to be enabled within a month. UPI Lite was introduced by ...

IDFC First Bank to raise Rs 2,196 cr via preferential allotment of shares IDFC First Bank on Saturday said its board has approved allotment of 37.75 crore shares to a subsidiary of IDFC on preferential basis for Rs 2,196 crore. Equity shares of face value of Rs 10 each fully paid-up, on a preferential basis ...

Axis Bank says it is comfortable with exposure to Adani Group entities Axis Bank on Saturday said its exposure to Adani Group entities stood at 0.94% of its net advances on Dec. 31, adding that it remained comfortable with its exposure. “Our exposure to Adani Group is primarily to the operating companies in the Ports, ...

BoB well placed when it comes to its exposure to Adani Group: CEO Chadha After the banks’ Q3 earnings, Sanjiv Chadha, MD&CEO, Bank of Baroda, spoke to Subrata Panda on the banks’ exposure to the Adani Group, and how its loan and deposit growth will pan out, going forward. Edited Excerpts: Is there any concern ...

RBI says banking sector remains resilient amid Adani Group’s stock rout The Reserve Bank of India (RBI) on Friday said the banking sector remained resilient in terms of its assessment, and bank exposures to companies were well within norms. This came amid concern over lenders’ financial health due to the stock rout in the Adani ...

State Bank of India books over Rs 14,000-cr profit in its best performance State Bank of India (SBI) registered its highest-ever quarterly net profit of Rs 14,205 crore in the October-December 2022 period – a jump of 68.47 per cent year-on-year (YoY). Robust growth in net profit, which beat analyst estimates, came on the back of a ...

RBI says ‘banking sector remains resilient, stable’ amid Adani stocks rout Amid concerns over banks’ exposure to the embattled Adani Group, the Reserve Bank on Friday said India’s banking sector is resilient and stable, and the central bank maintains constant vigil on the lenders. Responding to media reports expressing concern about the exposure of Indian ...