Finance News

Federal Bank’s loan grows 19.1% YoY in Q3; deposits cross Rs 2 trn mark Federal Bank has posted 19.1 per cent year-on-year (YoY) growth in advances as of December 2022 (Q3 FY23), aided by demand in the festive season. The private sector lender had posted 12 per cent growth in the third quarter of FY22. ...

Rupee gains 9 paise to 82.69 against US dollar as crude price retreats The rupee appreciated 9 paise to 82.69 against the US dollar in early trade on Tuesday, as crude oil price retreated from its elevated levels. Forex traders said sustained foreign fund outflows weighed on investor sentiments and restricted the appreciation bias. ...

Rupee starts New Year on muted note, closes at 82.75 against dollar The rupee started the New Year on a muted note, declining 14 paise to close at 82.75 (provisional) against the US dollar on Monday as rising crude oil prices and sustained foreign fund outflows weighed on investor sentiment. Forex traders said the support ...

RBI: SBI, ICICI Bank, HDFC Bank continue to be domestic systemically important banks: State Bank of India (SBI) and privately owned ICICI Bank and HDFC Bank continue to be Domestic Systemically Important Banks (D-SIBs) or institutions that are too big to fail, said the Reserve Bank of India (RBI) on Monday. It’s the structure followed ...

Care Ratings upgrades Hinduja Leyland Finance’s long-term debt to AA Hinduja Leyland Finance (HLF), a non-banking financier and subsidiary of commercial vehicle maker Ashok Leyland, announced on Monday that its credit ratings have been revised by CARE Ratings. The agency upgraded HLF’s long-term rating to “CARE AA (Double A), Stable.” This rating embraces long-term bank ...

State-owned Indian Bank hikes lending rates by up to 25 basis points State-owned Indian Bank on Monday increased lending rates, including the marginal cost of funds-based lending rates (MCLR), by up to 25 basis points. The new rates are effective from January 3, Indian Bank said in a regulatory filing. The Asset Liability Management ...

SBI, ICICI Bank, HDFC Bank remain systemically important banks: RBI The RBI on Monday said state-owned SBI, along with private sector lenders ICICI Bank and HDFC Bank continue to be Domestic Systemically Important Banks (D-SIBs) or institutions which are ‘too big to fail’. SIBs are perceived as banks that are ‘too big to fail (TBTF)’. ...

Canara Bank plans to raise funds through sale of certificates of deposit MUMBAI (Reuters) – India’s Canara Bank plans to raise funds through the sale of certificates of deposit maturing in three months, three merchant bankers said on Monday. The state-run lender will offer a yield of 6.92% on the issue, for which it has ...

Central banks may reverse rate hikes in 2023 to escape slowdown: SBI Central banks across the globe may unwind the key interest rates as inflation starts to cool down and prospects of a slowdown become starker, the State Bank of India (SBI) said in a report, according to IANS. “With the prospect of a global ...

Rupee at 82.5750, gains on speculators bets, lack of cash dollar demand By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was trading higher against the U.S. dollar on Monday, helped by likely position building and lack of cash dollar demand, traders said. The rupee was at 82.5750 per U.S. dollar by 10:50 a.m. ...