Finance News

Credit Saison India receives Rs 540-crore capital infusion from parent firm Digital non-banking finance company Credit Saison India has received Rs 540 crore in fresh capital from its Japanese parent Credit Saison Company, taking the total equity infusion to Rs 1,600 crore. The Bengaluru-based digital lender said the latest capital infusion came from Saison International, ...

Carlyle, Advent fully supportive, says YES Bank MD after AT1 bond setback Private equity (PE) majors — Carlyle Group and Advent International — which picked up a 9.99 per cent stake each in YES Bank are “fully supportive” of the lender and there are no downside risks in terms of them exercising their warrant option, Prashant Kumar, ...

RBI orders SBM Bank to stop transactions under remittance scheme The Reserve Bank of India on Monday ordered SBM Bank (India) Ltd to stop all transactions under the liberalised remittance scheme until further orders after the regulator found “material supervisory concerns” in the bank. The scheme allowed Indian residents to freely remit funds abroad up to $250,000 per financial ...

Banks get time till Dec 31 to execute revised agreement with locker holders The RBI on Monday extended the time till December-end for banks to enter into revised agreements with safe deposit locker holders as a large number of customers are yet to do so. In August, 2021 the Reserve Bank of India (RBI) had ...

Rupee falls 21 paise to 81.38 against US dollar amid rise in crude prices The rupee fell 21 paise to close as 81.38 (provisional) against the US dollar on Monday amid rise in crude prices. However, strong sentiment at domestic equities market and a weak dollar restricted the fall of the local currency, forex traders ...

Axis Bank Q3 results: Net profit rises 61.9% to Rs 5,853 crore Indian private lender Axis Bank Ltd on Monday reported a 61.9% rise in quarterly profit, as strong loan growth boosted interest income. Net profit rose to 58.53 billion Indian rupees ($719.53 million) in the three months ended Dec. 31 from 36.14 billion rupees ...

India’s central bank likely buying dollar after rupee rose above 81.125/$ MUMBAI (Reuters) – India’s central bank likely bought dollars via state-run banks to prevent the rupee from appreciating significantly above the 81 psychological level, three traders told Reuters. The rupee was last quoted at 81.125 per U.S. dollar after climbing to 80.89 in early ...

Canara Bank reports 92% rise in net profit in Q3FY23, NPAs fall to 5.89% Canara Bank on Monday reported a 92 per cent jump in its net profits in the third quarter of the current financial year (Q3FY23). The profits stood at Rs 2,881 crore, as compared to Rs 1,502 crore in the same quarter last year. ...

HDFC to raise at least Rs 30 billion through issue of 10-year bonds MUMBAI (Reuters) – India’s Housing Development Finance Corp plans to raise at least 30 billion rupees ($370.5 million) through the sale of bonds maturing in 10 years, three merchant bankers said on Monday. The housing finance company has invited coupon and commitment ...

Rupee may firm past 81 per dollar, bond yields to edge up ahead of Budget By Anushka Trivedi and Dharamraj Dhutia MUMBAI (Reuters) – The Indian rupee is expected to extend its gains this week, while government bond yields may move marginally higher due to worries about yet another year of elevated borrowing. With ...