Finance News

NRI’s deposits touch $134 billion in November 2022: RBI bulletin The Reserve Bank of India (RBI) scaled down figures for non-resident Indians (NRIs) at the end of October 2022 by $1.88 billion to $132.66 billion. This was caused predominantly by a revision in the amount for outstanding non-resident (external), or NRE, deposits by $1.9 billion in October to ...

AU Small Finance Bank net jumps 30% to Rs 393 cr on healthy core income AU Small Finance Bank on Thursday reported its highest quarterly net profit of Rs 393 crore, a growth of 30 per cent annually, for the October-December period of 2022-23 on improved asset quality and the resultant decline in provisions. The bank said its ...

Rupee closes at 81.37 against dollar amid muted trend in domestic equities The rupee settled 7 paise lower at 81.37 (provisional) against the US dollar on Thursday, weighed down by a muted trend in domestic equities and foreign fund outflows. At the interbank foreign exchange market, the rupee opened at 81.45 against the greenback, and finally ...

RBI bought net $4.36 billion in spot forex market in November, shows data The Reserve Bank of India (RBI) bought a net of $4.36 billion in the spot foreign exchange market in November, data released on Thursday as part of the central bank’s monthly bulletin showed. The RBI said it purchased $22.28 billion and sold $17.92 billion ...

Japanese banks get home regulator’s nod to settle all trades via CCIL Japanese banks have received a go-ahead from their country’s regulator to deal with the Clearing Corporation of India (CCIL) for settling all transactions, The Economic Times reported on Thursday. This move by the Japanese regulator may put pressure on a few overseas regulators, including the ...

HDFC planning to raise funds by issuing commercial papers maturing in 1 mth MUMBAI (Reuters) – India’s Housing Development Finance Corp plans to raise funds by issuing commercial papers maturing in one year, three merchant bankers said on Thursday. The non-banking finance company will offer a yield of 7.88% on this issue, and has received commitments ...

Asset quality of Indian banks will be stable in 2023, says Moody’s The asset quality of Indian banks and those in Southeast Asian countries will be stable in 2023, said Moody’s Investors Service in its latest report on the banking sector in emerging markets. Indian banks will benefit from a stable operating environment and significant improvements ...

Taxmen probe rich Indians for having foreign policies without approval Several wealthy Indians have either purchased or have become nominees in foreign life insurance policies without the approval of the Reserve Bank of India, The Economic Times reported Thursday. Tax officials are now asking these rich Indians to expalin why their names have figured in these insurance ...

Rupee opens at 81.45 per dollar as growth fears hit risk sentiment By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is likely to weaken at open against the U.S. dollar on Thursday as mounting global growth concerns prompted investors to exit risk assets. The rupee is tipped at around 81.45 to the dollar in ...

India govt switches bonds maturing in 2024 with RBI in cash-neutral deal MUMBAI (Reuters) – The Indian government bought back bonds maturing in 2024 from the Reserve Bank of India on Tuesday, while also issuing bonds maturing in 2032 worth a similar quantum, the central bank said on Wednesday. “The transaction involved buying back a security maturing in ...