Finance News

India’s retail health insurance could be a $25 bn market in 5 yrs: Report Buoyed by the Covid-19 pandemic and the increased awareness about protection, India’s retail health insurance segment could possibly become a $25 billion market in the next five years, said a report produced by Avendus Capital. Health insurance, which has been driving ...

India should consider reducing 1% TDS rate on cryptocurrency trade: Report India should consider lowering the 1 per cent TDS on crytocurrency trade as a high rate is causing a flight of capital and users to platforms in foreign jurisdictions and the grey market, a report said on Tuesday. The ‘Impact Assessment of 1 per ...

Nomura hires ICICI banker Mahesh Natarajan to head India ECM biz: Report By Sriram Mani MUMBAI (Reuters) – Nomura Holdings has tapped Mahesh Natarajan to head its equity capital markets business in India, two sources with direct knowledge told Reuters on Tuesday, a top-level investment banking hire that comes when dealmaking is going through a ...

SBM Bank says engaging with RBI to address ‘supervisory concerns’ BENGALURU (Reuters) – SBM Bank (India) is engaging with the Reserve Bank of India (RBI) to address “supervisory concerns”, the lender said in an email to a customer reviewed by Reuters, days after the regulator barred it from some transactions. The RBI, on Monday, ordered ...

South Indian Bank posts Rs 102-cr net profit in October-December quarter South Indian Bank on Tuesday reported a net profit of Rs 102.75 crore, restricted by money set aside as ageing provisions for security receipts as per a regulatory mandate. The Thrissur-headquartered lender had reported a loss of Rs 50.31 crore in the year-ago period, ...

Indian lenders expect pick up in retail deposits as interest rates rise By Siddhi Nayak and Nupur Anand MUMBAI (Reuters) – Indian lenders are expecting stronger inflows of retail deposits as the interest rates offered to individuals to park money with banks have risen in recent months, bringing them at par with those offered by ...

Rupee closes at 81.70 against dollar amid unabated foreign fund outflow The rupee fell 28 paise to close as 81.70 (provisional) against the US dollar on Tuesday as unabated foreign fund outflow hit market sentiments. However, a weak dollar and fall in crude prices capped the losses in the local currency, forex traders said. ...

UCO Bank Q3 profit more than doubles to Rs 653 cr on decline in bad loans UCO Bank on Tuesday reported more than two-fold jump in profit at Rs 653 crore for the quarter ended December 2022, driven by increase in interest income and decline in bad loans. Its net profit stood at Rs 310 ...

US-based crypto exchange Gemini to lay off 10% workforce, says report US-based crypto exchange Gemini said that it will lay off 10 per cent of its workforce, citing “bad actors” in the crypto industry, the media reported. It’s at least the third round of cuts at Gemini in the past eight months. In a ...

Rupee falls 26 paise to 81.68 against dollar amid rise in forex outflows The rupee declined by 26 paise to 81.68 against the US dollar in early trade on Tuesday due to a rise in crude oil prices and forex outflows. Early gains in domestic equity markets and a weak dollar against world currencies, however, restricted the rupee’s ...