Finance News

Rupee rangebound as dollar sales by exporters help in risk-averse market The Indian rupee strengthened a bit on Thursday, as traders cited dollar sales by exporters, but strong gains were not expected amid the holiday lull and risk aversion in broader markets. The rupee was at 82.78 per dollar by 10:05 a.m. IST, having firmed ...

Should Indian states also levy an income tax? Several Indian states are now rolling out the red carpet to India Inc. for investment. Some of them, like Punjab and West Bengal, need it more than the others. An RBI report recently highlighted the grim fiscal condition of ten states. And of them, five seem to be in dire condition. So ...

Bank frauds from card, net-based transactions rise, shows RBI report The average amount of fraud —defined as the total amount involved in frauds divided by number of frauds — decreased substantially during 2021-22, data from Reserve Bank of India’s (RBI’s) Trend and Progress Report shows. In terms of the number of frauds, the modus operandi seems to ...

UCO Bank planning to raise up to Rs 1,000 cr by issuing debt securities State-owned UCO Bank on Wednesday said it is planning to raise up to Rs 1,000 crore by issuing debt securities. The bank’s board will consider the proposal for raising tier I capital in the form of additional tier I bonds in ...

YEARENDER: Composite insurance licence regime may trigger M&A activity: HDFC Life CFO Niraj Shah The Central governments decision to issue composite insurance licences (insurers who can sell both life and general insurance policies) may increase a potential for merger and acquisition (M&A) activity in the sector, said a senior official of HDFC Life Insurance Company. ...

Top Headlines: Banks’ balance sheet grows, daily vax rates in India double Banks’ balance sheet grows in double digits after 7 years: RBI report The health of Indian banks continued to improve in 2021-22 with their balance sheet growing at double digits after a gap of seven years and their asset quality and capital position ...

RBI to streamline charges for a safer, more affordable payments system The Reserve Bank of India (RBI) is aiming to streamline the framework of charges for different payment systems to ensure that the country has a state-of-the-art payment system, which is not only safe and secure but also swift and affordable. The central bank had, ...

RBI cracked whip on ICICI, others for flouting norms, but was ignored: RTI The Reserve Bank of India (RBI) had slapped show cause notices (SCNs) and imposed penalties on the ICICI Bank and certain other banks way back in 2017, for violating various norms, according to a RTI reply, but few of these seemed to have heeded ...

Urban Co-op Bank profiles improve on bad loan dip, better profitability The profile of urban co-operative banks (UCBs) improved in 2021-22 on the back of augmented capital buffers, a decline in bad loans and improved profitability. However, the growth in deposits and advances took a knock as liabilities shrunk on the back of high base ...

Punjab & Sind Bank board to consider fundraise of Rs 250cr on Dec 30 City-based Punjab & Sind Bank on Tuesday said its board will meet on December 30 to consider a proposal for raising up to Rs 250 crore by various modes, including equity and bonds issuance, the bank said on Tuesday. The bank ...