Finance News

Indian banks gave highest returns in Asia Pacific region: S&P Global The stocks of two Indian banks – the Punjab & Sind Bank and the Jammu and Kashmir Bank Ltd – occupied the top two spots among 15 banks in the Asia Pacific region in terms of returns in the quarter ended December 31, 2022, said S&P Global ...

Rupee closes at 81.57 against dollar amid muted trend in domestic equities The rupee gained 11 paise to close at 81.57 (provisional) against the US dollar on Thursday, tracking the overall weakness in the American currency. However, a muted trend in domestic equities and sustained foreign fund outflows capped the gains in the rupee, traders said. At the ...

Rupee up 14 paise to 81.54 per dollar amid firm trend in domestic equities The rupee gained 14 paise to 81.54 against the US dollar in early trade on Thursday supported by broad dollar weakness and a firm trend in domestic equities. Forex traders said sustained foreign fund outflows weighed on investor sentiments and restricted ...

10 NBFCs, 1 asset reconstruction firm defer registration certificates: RBI The Reserve Bank of India on Wednesday said 10 NBFCs and one asset reconstruction company have surrendered their registration certificates. The 10 Non-Banking Financial Companies (NBFC), which surrendered their registration certificates, include Telecom Investments India Private Limited, Srinivasa Finance Corporation Private Limited and Parkin Marketing Pvt. ...

Discussions for next G20 Financial Inclusion Action Plan kicked off A new G20 Financial Inclusion Action (FIA) Plan is in the works. Initial discussions have started, said Chanchal Sarkar, Economic Advisor, Ministry of Finance. Sarkar chaired the first G20 Global Partnership for Financial Inclusion (GPFI) meeting in Kolkata, which concluded on Wednesday. The G20 ...

L&T Finance to increase retail loan portfolio to 75% of total loan book L&T Finance Holdings (LTFH), a subsidiary of Larsen & Toubro, plans to focus on increasing its retail loan book after it sold its mutual funds business to HSBC last year. A senior company official said L&T Finance plans to increase its retail ...

Govt extends tenure of SBI MD Challa Sreenivasulu Setty by 2 years The government has extended the term of State Bank of India Managing Director Challa Sreenivasulu Setty by two years with effect from January 20. In a regulatory filing, SBI said the government issued a notification to this effect on January 10. “… the ...

At Rs 14.71 trn, direct tax collection hits 86.6% of FY23 target by Jan 10 The Centre’s net direct tax collections, after adjusting for refunds, grew 19.55 per cent during the current fiscal year up to January 10, touching 86.68 per cent of the FY23 Budget Estimates (BE). Data released by the finance ministry on ...

RBI: Rupee continues winning streak, gains 1.5% in 3 days on foreign flows The rupee extended a stellar strengthening streak on Wednesday. It has gained 1.5 per cent so far this week as foreign investment flows continued to hit the currency market and as dollar demand from oil companies shrank, dealers said. The rupee closed ...

Cabinet clears Rs 2,600 cr scheme to promote RuPay debit card: Officials The Cabinet on Wednesday approved a Rs 2,600 crore scheme for promoting RuPay debit cards and low-value BHIM-UPI transactions. Under the scheme, banks would be provided financial incentives for promoting Point of Sale (PoS) and e-commerce transactions using RuPay and UPI in the ...