Finance News

Moody’s withdraws IDBI Bank’s credit ratings for business reasons Global credit rating agency Moody’s Investors Service on Monday said it has withdrawn IDBI Bank Ltd’s ratings for business reasons. According to Moody’s, it has withdrawn the Ba1/NP long-term (LT) and short-term (ST) local and foreign currency counterparty risk ratings (CRR), Ba2/NP LT and ST local ...

CSB Bank Q3 net up 5% to Rs 156 cr on strong growth in deposits and loans Kerala-based CSB Bank has posted a rise of 5 per cent in net profit for the third quarter of the financial year ended December 2022, to Rs 156 crore, from Rs 148 crore in the same period of FY22. ...

Rupee falls 10 paise to 81.69 against US dollar amid FPI outflows The rupee depreciated 10 paise to 81.69 against the US dollar in early trade on Monday, weighed down by significant foreign fund outflows. At the interbank foreign exchange, the domestic unit opened weak at 81.69 against the dollar, registering a decline of 10 ...

IDBI manager held for swindling money from customers’ accounts in B’luru Karnataka police have arrested a relationship manager of IDBI bank in Bengaluru in connection with transferring Rs 4.92 crore illegally to various accounts, police said on Monday. According to police, 34-year-old Sajila, a relationship manager attached to IDBI bank, Mission Road branch in Bengaluru ...

DCB Bank Q3 net profit jumps 52% to Rs 114 cr on decline in bad loans Private sector DCB Bank on Saturday reported a 52 per cent jump in its profit to Rs 114 crore for the December 2022 quarter, mainly due to a decline in bad loans. The bank’s net profit stood at Rs ...

India’s forex kitty rises by $1.727 billion to $573.727 billion: RBI data India’s forex reserves increased by USD 1.727 billion to USD 573.727 billion in the week ended January 20, the Reserve Bank of India said on Friday. This is the second consecutive week of a rise in the kitty after the USD 10.417 billion ...

Here’s why bond veteran sees India’s benchmark yield trending downwards India bond traders pricing in a rate cut this year may be disappointed, with local growth good and the US unlikely to go through a recession, according to a top official at Bank of America Corp. “In the last quarter, the swaps market is pricing ...

10-year bond yield at highest since November on Budget 2023 jitters Yields on government bonds rose sharply on Friday, with a scheduled primary auction of sovereign debt seeing tepid demand, as market participants braced for the Centre announcing a record-high borrowing programme for the next financial year. The 10-year benchmark bond yield closed at 7.39 ...

Bank credit growth rises to 16.5% to Rs 132.81 trillion in Jan 13 fortnight After a slight moderation in growth in the previous fortnight, bank credit growth picked up in the fortnight ended January 13, 2023, with 16.5 per cent YoY growth to Rs 132.81 trillion, latest data released by Reserve Bank of India (RBI) showed. ...

Insurance body opposes govt nominee in life and non-life councils The General Insurance Council (GIC), the grouping of non-life insurers, has opposed the move by the Finance Ministry to appoint a central government representative to the executive committees of both Life Insurance Council and GIC, as proposed in the Insurance Amendment Bill. In its written ...