Finance News

Rupee rises 15 paise to 82.47 against US dollar in early trading The rupee gained 15 paise to 82.47 against the US dollar in early trade on Friday tracking a firm trend in domestic equities. Forex traders said sustained foreign fund outflows and strength of the American currency in the overseas market weighed on investor ...

First Abu Dhabi Bank PJSC explored offer for Standard Chartered First Abu Dhabi Bank PJSC said it was reviewing a potential bid for Standard Chartered Plc, which would have been a complex deal aimed at building an emerging markets lender with more than $1 trillion in assets. The Middle East’s largest bank was previously in the “very ...

Banks, FIs should play key role in financing NIP projects: DFS secy Banks, financial institutions (FIs), and newly established National Bank for Financing Infrastructure Development should play a proactive role in financing projects under the National Infrastructure Pipeline (NIP) to avoid crowding out of private investment, Vivek Joshi, secretary at the Department of Financial Services (DFS), said ...

Sebi permits govt to reclassify stake in IDBI Bank as public holding In a major dispensation, capital markets regulator Securities and Exchange Board of India (Sebi) acceded to the central government’s request to reclassify its shareholding in IDBI Bank after its disinvestment as “public holding”, the lender told the stock exchanges on Thursday. This is ...

Rupee gains on corporate investments, cheaper global oil prices The rupee strengthened sharply on Thursday due to corporate investments, a decline in global crude oil prices and as some traders bet on the currency to reverse a recent spell of underperformance, dealers said. The rupee settled at 82.55 per US dollar on Thursday as against 82.81 at ...

Banks, FIs must design project-based products to meet NIP target: DFS secy Banks and financial institutions need to design products in sync with requirements of infra projects in view of the whopping Rs 111 lakh crore National Infrastructure Pipeline (NIP), Financial Services Secretary Vivek Joshi said on Thursday. Observing that the infrastructure sector has strong ...

Sebi allows govt stake in IDBI Bank to be reclassified as public post sale BENGALURU (Reuters) – India’s market regulator has allowed the government’s shareholding in IDBI Bank to be reclassified as “public” after its stake sale on condition that its voting rights do not exceed 15%, the lender said on Thursday. The government, with ...

Rupee gains 32 paise, closes at 82.50 against dollar on weaker greenback The rupee gained 32 paise to close at 82.50 (provisional) against the US dollar on Thursday, supported by a weaker greenback overseas. Forex traders said factors like strong Asian peers and crude oil prices trading below USD 80 per barrel also helped the ...

We Founder Circle became India’s largest angel investor network in 2022 We Founder Circle (WFC), a founders’ led early-stage startup investment platform, have closed their second year with 71 startup investments in 53 unique start-ups to emerge as the largest Angel Network in India of the year 2022. The platform became one of the fastest-growing ...

Rupee gains 9 paise to 82.73 against US dollar as crude prices ease The rupee appreciated 9 paise to 82.73 against the US dollar in early trade on Thursday, supported by easing crude oil prices and a firm trend in domestic equities. Forex traders said sustained foreign fund outflows weighed on investor sentiments and restricted ...