Finance News

SBI board approves Rs 10,000-cr AT1 bonds offering to support biz growth The country’s largest lender, State Bank of India (SBI), plans to raise up to Rs 10,000 crore through additional tier – 1 (AT1) bonds until March 2024, to support business growth. SBI in a filing with the BSE said the central board of the bank ...

RBI advises fintechs to focus on governance, data protection issues In a meeting with select financial technology (fintech) entities and their industry associations on Wednesday, the Reserve Bank of India (RBI) advised these new-age firms to focus on governance issues, data protection, and regulatory compliance, while playing a transformative role in the financial systems through their innovations. ...

Bonds and rupee gain; US inflation spurs hopes of dovish Fed move Government bonds and the rupee strengthened sharply on Wednesday as a lower-than-expected US inflation print led to hope of the Federal Reserve adopting a less aggressive path for its future rate hikes, dealers said. The rupee closed at 82.46 per dollar on Wednesday as against ...

Rupee falls 4 paise to 82.64 against US dollar ahead of Fed meeting The rupee depreciated 4 paise to 82.64 against the US dollar in early trade on Wednesday as a strengthening greenback overseas and risk-off sentiment among investors ahead of the US Fed’s interest rate decision weighed on the local unit. However, a firm trend in ...

Delhi HC directs Irdai to introduce products for persons with disabilities The Delhi High Court has directed the Insurance Regulatory and Development Authority of India (IRDAI) to ensure the products are designed and introduced on an early date for persons with disabilities so as to enable them to obtain health insurance coverage. A bench of Justice Prathiba ...

Only about 13% recovery in written-offs loans during last five years: Govt Only about 13 per cent of the loans written off by the scheduled commercial banks (SCBs) during the last five financial years have been recovered, the Parliament was told on Tuesday. Government data showing details of loans written off by scheduled commercial banks (SCBs) disclosed ...

Banks wrote off NPAs over 10 trillion in last five financial years: FM Banks have written off bad loans worth Rs 10,09,511 crore during the last five financial years, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, ...

RBI removes informal restrictions on rupee NDF trades, says report The Indian central bank has lifted the informal restrictions on rupee non-deliverable forward trades it had placed on local banks in October, four bankers told Reuters. All banks are now back to building positions in this segment, said one of the bankers with a private sector lender. ...

Rupee records 6.9% depreciation against US dollar in current financial year The Indian rupee has witnessed a depreciation of 6.9 per cent in the current financial year till November 30, the Parliament was told on Tuesday. Exchange rate depreciation, other factors remaining unchanged, is likely to put upward pressure on prices of imported commodities and as a ...

How will Budget 2023 affect your taxes and investments? Union Budget 2023-24 will be the last full-year Budget ahead of the Lok Sabha elections. The finance minister is expected to lead India on the growth path while keeping the fiscal deficit and inflation in check. The macro-economic concerns will be the subject of much debate and discussion. Meanwhile, there have ...