Finance News

RBI sold $922 million in foreign exchange market in October: Bulletin The Reserve Bank of India (RBI) net sold $922 million in the foreign exchange market in October, the latest data in the central bank’s December bulletin showed. While the net sale of dollars in October was far lower than $10.36 billion in September, the ...

Banks have written off loans worth Rs 11.17 trillion in last 6 years: Govt Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been ...

Govt plans tax waivers for IDBI Bank buyer to attract more suitors: Report The Indian government is likely to waive some tax norms for the buyer of IDBI Bank in a bid to attract more suitors for a majority stake sale in the lender, two government sources said on Tuesday, after the Centre extended the deadline for ...

Rupee declines 11 paise to 82.73 against US dollar in early trade The rupee weakened by 11 paise to 82.73 against the US dollar in early trade on Tuesday as a sell-off in domestic equities and rising crude prices in global markets weighed on the local unit. However, a weak greenback against major rivals overseas ...

Bad loans worth Rs 10 trillion written off in last 5 years by banks: Govt Bad loans worth Rs 10,09,511 crore have been written off by scheduled commercial banks in the last five fiscals (2017-22), the Parliament was told on Monday. The nation’s largest lender, the State Bank of India (SBI) tops the list of ...

Yes Bank completes transfer of $5.81 bn worth bad loans to JC Flowers Indian private lender Yes Bank said on Monday it completed the transfer of bad loans worth 480 billion rupees ($5.81 billion) to private equity firm JC Flowers, in a deal aimed at cleaning up its balance sheet. The deal, the largest sale ...

HDFC raises home loan rates by 35 bps, effective from December 20 Mortgage lender HDFC has hiked its home loan rates by 35 basis points (bps), effective December 20, the company said in a statement on Monday. Now, the home loan rates for HDFC will start from 8.65 per cent for credit scores of 800 and above. ...

RBI imposes Rs 2.66 crore penalty on Bank of Bahrain & Kuwait BSC The Reserve Bank on Monday said it has imposed a penalty of Rs 2.66 crore on Bank of Bahrain & Kuwait BSC, India operations for non-compliance with directions on cyber security framework. In a statement, the Reserve Bank of India (RBI) said ...

Liquidity slips into deficit; RBI cash injections at over one-month high Liquidity in the banking system has slipped into a deficit for the first time in three weeks, prompting banks to borrow the largest quantum of funds from the Reserve Bank of India (RBI) in around a month and a half. The key catalyst for ...

Axis Bank hikes MCLR by 30 bps across the board, effective December 17 Private sector lender Axis Bank has hiked its marginal cost of funds-based lending rate (MCLR) by 30 basis points, effective December 17, the bank informed on Monday. Accordingly, the overnight and one-month MCLR now stands at 8.55 per cent. The three-month rate ...