Finance News

Rupee falls 35 paise against US dollar amid heavy selling in equities The rupee declined 35 paise to 82.63 against the US dollar in early trade on Monday as heavy selling pressure in domestic equities and a strong greenback in the overseas market weighed on investor sentiments. Besides, foreign fund outflows and rising crude oil prices in ...

Rupee, bond yields to move in narrow range, with focus on Fed meeting The Indian rupee and government bond yields are likely to take cues from the outcome of the U.S. Federal Reserve’s monetary policy meeting on Dec. 14, one of a host of high-profile, potentially market-moving economic events in the week. The rupee finished last week ...

Fixed denominations vs token system: Why digital cash needs to feel real Five years ago, central bank digital currencies were a curiosity. Now, they’re a fad. More than 40 economies are running pilots or are in the pretrial development phase, in addition to the 11 already using them. With rising interest, previously unasked questions about these new-age payment tools ...

CBDT issues important circular on TDS on salaries for current fiscal The Central Board of Direct Taxes (CBDT) in a circular related to TDS deduction from salaries has said that any person responsible for paying salary must deduct income tax while paying the amount. The circular said that the tax should be deducted at the average rate ...

Punjab National Bank plans Rs 1,000 cr AT-1 bond issue to shore up capital Public sector lender Punjab National Bank (PNB) plans to raise up to Rs 1,000 crore in capital through additional tier-1 (AT1) bonds. The proposed offering comes just after it raised Rs 4,000 crore through tier-II bonds in early December. Managing director (MD) and ...

Indian Overseas Bank revises interest rates on domestic, foreign currency Public sector Indian Overseas Bank has revised the interest rates on its domestic, foreign currency non-resident (banking) term deposits with immediate effect, the city-based lender said on Saturday. Depositors of domestic, non-resident external would receive interest rates up to 7.30 per cent by opening a term deposit ...

Not all banks may opt to sell products of 27 insurers, say experts Not all corporate insurance agents – banks and others – may sign up soon to distribute products of 27 insurers – nine each in life, general and health- said experts. Even when the Insurance Regulatory and Development Authority of India (IRDAI) had allowed the ...

Gold, silver prices rise in early trade; yellow metal trading at Rs 54,280 Gold price rose by Rs 280 per 10 grams (24-carat) in Saturday’s early trade to 54,280. Silver prices, on the other hand, rose by Rs 1,400 per kg to Rs 67,600 per kg today. Ten grams of 22-carat gold is trading at Rs 49,750 after an increase ...

YES Bank gets RBI nod to raise capital from Carlyle, Verventa Holdings The Reserve Bank of India (RBI), on Friday, issued two letters to YES Bank as the final go-ahead for its proposed capital raise plan from the Carlyle Group and Verventa Holdings, the bank said in a statement while informing the exchanges. “We wish to hereby inform that ...

Bank of Baroda hikes MCLR up to 30 basis effective December 12 Public sector lender Bank of Baroda (BoB) has decided to increase its marginal cost of funds-based lending rate (MCLR) by up to 30 basis points (bps) across tenors. This hike by the Mumbai-based lender is steeper than compared upto 15 basis points upward revision made in November ...