Finance News

Forex reserves zoom by $10.417 bn to $572 bn as on Jan 13: RBI data India’s forex reserves zoomed by USD 10.417 billion to USD 572 billion as on January 13, making it one of the biggest weekly jumps in the kitty in recent times. In the previous reporting week, the overall reserves had dropped ...

Bombay High Court quashes write-off of YES Bank’s additional AT1 bonds By Jayshree P Upadhyay MUMBAI (Reuters) – The Bombay High Court, in an oral pronouncement on Friday, quashed the write-off of additional Tier-1 (AT1) bonds issued by Yes Bank Ltd, said legal sources with direct knowledge of the matter. The final order is ...

Union Bank Q3 net up 106.8 % at Rs 2,245 cr, considers QIP for equity State-owned lender’s loan book grows 20.09% YoY to Rs 8.04 trn, asset quality improves

Dollar around seven-month low as growth concerns mount, yen retreats By Ankur Banerjee SINGAPORE (Reuters) – The U.S. dollar loitered around its seven-month lows on Friday as fears of an economic slowdown dented risk appetite, while the yen eased even as speculation swirls that the Bank of Japan (BOJ) will eventually move away from its ultra-easy ...

Union Bank of India reports two-fold jump in Q3 profit at Rs 2,245 cr Union Bank of India on Friday reported two-fold jump in standalone profit at Rs 2,245 crore for third quarter ended December 2022 helped by decline in bad loans. The bank had posted a net profit of Rs 1,085 crore in the same ...

HDFC to raise at least Rs 3000 cr via bonds; may invite bids next week MUMBAI (Reuters) – India’s Housing Development Finance Corp (HDFC) will return to bond market after a gap of two months, three merchant bankers said on Friday. The company plans to raise at least 30 billion rupees ($369.26 million) through bonds maturing ...

Moody’s upgrades ratings for PNB, Canara Bank and Bank of Baroda to ‘Baa3’ Global rating agency Moody’s has upgraded the long-term local and foreign currency deposit ratings of Bank of Baroda (BOB), Canara Bank, and Punjab National Bank (PNB) from “Ba1” to “Baa3”, reflecting improving credit profile and macro economic conditions. It also upgraded the Baseline Credit ...

RBI net bought US dollars for first time in five months in November The Reserve Bank of India (RBI) net purchased US dollar worth $4.36 billion in the domestic currency market in November 2022, marking the first time since May 2022 that the central bank net bought the US currency.   The RBI purchased US dollar ...

FinMin exhorts PSBs to achieve financial inclusion targets for FY23 The finance ministry on Thursday exhorted public sector banks (PSBs) to achieve their financial inclusion targets allotted to them for 2022-23. In a full day review meeting of heads of Public Sector Banks (PSBs) and financial institutions chaired by Department of Financial Services (DFS) secretary Vivek Joshi, discussions ...

Joshimath subsidence: Irdai asks insurers to expeditiously settle claims Regulator Irdai on Thursday asked insurance companies to take steps for expeditious settlement of claims of loss to property due to subsidence and landslides in the calamity-affected areas in Uttarakhand. The Insurance Regulatory and Development Authority of India (Irdai) has issued the circular for general insurers in ...