Finance News

Credit growth to sustain and spark virtuous cycle: Economic Survey The robust growth in credit that has been experienced over several months is expected to sustain, and along with a rise in private capital expenditure, will bring in a virtuous investment cycle, the Economic Survey for 2022-23 has said. “The credit upcycle will also be ...

Reserve Bank partially relaxes restrictions on SBM Bank up to March 15 BENGALURU (Reuters) – The Reserve Bank of India (RBI) said on Tuesday it had decided to partially relax the restrictions on SBM Bank (India) up to March 15, by allowing ATM and point-of-sale transactions on internationally active debit cards issued by the bank. ...

Rupee falls 12 paise to 81.64 against dollar on foreign fund outflows The rupee depreciated 12 paise to 81.64 against the US dollar in early trade on Tuesday, weighed down by significant foreign fund outflows and a muted trend in domestic equities. At the interbank foreign exchange, the domestic unit opened weak at 81.61 against ...

$3.1 mn spent on privacy last year by businesses in India: Report The average privacy spending by businesses in India was $3.1 million in 2022 and $2.4 million in 2021, a new report said on Monday. According to a report by networking giant Cisco, about 85 per cent of respondents in India recognise significant business ...

CSB Bank net inches up 5%; gold loans share over 45% of total assets The Kerala-based mid-sized lender CSB Bank (formerly Catholic Syrian Bank) on Monday reported a muted 5 per cent growth in net profit to Rs 156 crore despite record margins and a 26 per cent rise in advances for the quarter to December. ...

State Bank of India plans to raise $500 million via green bonds The country’s largest lender — State Bank of India (SBI) — is planning to raise around $500 million through green bonds to provide sustainable project finance. This plan coincides with about Rs 8,000 crore (close $1 billion) raised by the Government of India through maiden sovereign ...

Rating firms seek exposure details from lenders on Adani companies Indian banks, which have lent about Rs 80,000 crore to the Adani group, rushed to allay investors’ concern over their exposure to the conglomerate after a report by US-based investment research firm, Hindenburg Research alleged that the group was engaged in “a brazen stock manipulation and accounting ...

Reserve Bank of India to conduct auction of 10-year govt bond on Friday The Reserve Bank of India (RBI) will conduct the auction of a new 10-year government bond on Friday, the central bank said through a press release on Monday. The government will sell a notified amount of Rs 28,000 crore worth of three ...

Punjab National Bank reports Q3 net profit down 44% to Rs 629 crore Punjab National Bank (PNB) on Monday reported a 44 per cent decline in standalone net profit at Rs 629 crore in the third quarter ended December. The state-owned bank had earned a net profit of Rs 1,127 crore in the year-ago period. ...

Canada’s CPPIB invests $205 million in Indian co IndoSpace’s new fund BENGALURU (Reuters) – Indian warehouse and parks developer IndoSpace on Monday said the Canada Pension Plan Investment Board (CPPIB) will invest $205 million in the company’s new real estate fund. The investment from Canada’s biggest pension fund is part of IndoSpace’s new fund targeting ...