Finance News

Credit growth of scheduled commercial banks tapers off in December Banks extended loans of almost Rs 1.5 trillion during the fortnight ended December 30

Piyush Goyal calls for redoubling efforts at WTO for TRIPS waiver Commerce and Industry Minister Piyush Goyal on Friday pitched for increasing efforts at the World Trade Organization (WTO) for getting patent waivers for diagn­ostics and therapeutics used to deal with the Covid-19 pandemic. In June last year, members of the WTO agreed to grant a temporary patent ...

Dynasty Acquisition pares 2.14% stake in Shriram Finance for Rs 1,040 cr Dynasty Acquisition (FPI) on Friday divested 2.14 per cent stake in the non-banking financial company (NBFC) Shriram Finance for Rs 1,040 crore through open market transactions. The buyers include — FID Funds Mauritius, Societe Generale, BNP Paribas Arbitrage, and ICICI Prudential Life Insurance Company, ...

Forex reserves drop by $1.268 billion to $561.583 billion, says RBI India’s forex reserves declined by USD 1.268 billion to USD 561.583 billion for the week ended January 6, the Reserve Bank said on Friday. The overall reserves had increased by USD 44 million to USD 562.851 billion in the previous reporting week after two consecutive weeks of ...

Bank of Baroda hikes interest rates on retail term deposits by up to 65 bps Bank of Baroda, one of India’s leading public sector banks, on Friday announced an increase in interest rates on Domestic Retail Term Deposits, including NRO and NRE Term Deposits, by up to 65 basis points across various tenors. These rates are applicable on ...

Ind-Ra upgrades issuer rating for Bank of India, cites capital position India Ratings and Research (Ind-Ra) has upgraded Bank of India’s (BoI) long-term issuer rating from “AA” from “AA+”, reflecting the state-owned lender’s capital position and operating buffer. The outlook is stable, said Ind-Ra in a statement. BoI, since FY21, has reported consistent profitability which, along with ...

RBI open to non-bank arms route to end stalemate with ESMA: Report The Reserve Bank of India (RBI) is open to European banks trading in government securities and carrying out custody businesses via their locally incorporated non-banking arms, The Economic Times reported on Friday. The proposal was discussed during a meeting between RBI deputy governor T Rabi Sankar and ...

Rupee to open higher on Friday as data boosts smaller Fed rate-hike bets By Anushka Trivedi and Nimesh Vora MUMBAI (Reuters) – The Indian rupee is expected to open higher against the dollar on Friday after the U.S. inflation reading reinforced expectations that the Federal Reserve would opt for a smaller rate hike at the upcoming ...

United Forum of Bank Unions call nationwide bank strike on January 30, 31 The United Forum of Bank Unions (UFBU) on Thursday decided to go on two-day strike from January 30 demanding a five-day working week for bank staff, among others. “There was no response from IBA [Indian Banks’ Association] on our demand despite letters. ...

United Forum of Bank Unions to go on two-day strike from January 30 The United Forum of Bank Unions (UFBU), an umbrella body of several bank unions, on Thursday decided to go on two-day strike from January 30 to press for their various demands, a top All India Bank Employees’ Association (AIBEA) official said. The decision was ...