Finance News

Fino Payments Bank ups interest rate on savings deposit to 5% Fino Payments Bank on Monday said it has increased the interest rate on its savings deposits of Rs 1 lakh and above (upto Rs 2 lakh) to 5 per cent from 2.75 per cent earlier. The aim is to encourage higher savings leading to a better ...

Bandhan Bank collection efficiency rises to 98% at end of Dec 2022 Collection efficiency ratio of private lender Bandhan Bank increased to 98 per cent at the end of December 2022 from 95 per cent at the end of the second quarter. An initial disclosure statement by the bank said that the ratio for micro-credit ...

Bond issuance by banks to touch record Rs 1.3 trn in FY23: Report Gross bond issuances by Indian banks raised more than Rs 91,000 crore in April-December 2022, more than the previous high of Rs 80,000 crore in financial year 2016-17 (FY17), according to ICRA. With tight liquidity conditions likely persisting in the near to ...

Rupee closes at 82.37 against dollar amid firm trend in domestic equities The rupee gained 29 paise to close at 82.37 (provisional) against the US dollar on Monday, supported by a weaker greenback overseas and a firm trend in domestic equities. At the interbank foreign exchange market, the local unit opened at 82.41 and touched ...

Cropin raises Rs 113 cr funds from investors including Google, JSR Corp Agritech company Cropin on Monday said it has raised Rs 113 crore funding from new investors Google and JSR Corporation, as well as existing investors ABC Impact and Chiratae Ventures. The funds will aid in expanding Cropin Cloud, the company’s recently launched intelligent ...

Rupee gains 33 paise to 82.33 against US dollar in early trade today The rupee appreciated 33 paise to 82.33 against the US dollar in early trade on Monday, supported by a weak American currency and a firm trend in domestic equities. Forex traders said sustained foreign fund outflows weighed on investor sentiments and restricted ...

Total business to cross Rs 2 lakh crore milestone soon: Punjab & Sind Bank MD Punjab and Sind Bank is expected to cross Rs 2 lakh crore business milestone soon on the back of robust growth in loans, its managing director Swarup Kumar Saha has said. In the third quarter of the current financial year, ...

Forex reserves up by $44 mn to $562.85 bn on rise in RBI gold reserves The Reserve Bank of India’s foreign exchange reserves rose by $44 million to $562.85 billion in the week ended December 30, latest central bank data showed. The marginal rise in the RBI’s reserves in the week gone by was due ...

Rupee closes at 82.71 against dollar amid muted trend in domestic equities The rupee pared initial gains and settled 9 paise lower at 82.71 (provisional) against the US dollar on Friday, tracking a rebound in the greenback overseas and a muted trend in domestic equities. Forex traders said risk aversion in international markets and sustained ...

Rupee, worst emerging Asia currency of 2022, likely to fall further The Indian rupee, emerging Asia’s worst performer in 2022, is likely to extend losses in the next fiscal year, according to a top private bank in the country. “A substantially wider current account deficit” in the next fiscal year will keep the rupee under pressure, Neeraj Gambhir, ...