Finance News

Rupee falls 39 paise to fresh lifetime low of 82.69 against US dollar The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and firm ...

RBI sells dollars as rupee hits record low on US rate hike woes: Report The Reserve Bank of India likely sold dollars via state-run banks on Monday after the rupee plumbed a fresh record low following a U.S. jobs report that firmed bets of more aggressive rate hikes. The rupee hit a record low of 82.6825, before ...

South Indian Bank enters World Book of Records for ‘101 Oonjals’ South Indian Bank bagged a world record for staging and swinging the highest 101 The South Indian Bank on Sunday organized an event ‘Onnichirikkam Oonjaladam’ and was accoladed with the World Book of Records award for ‘staging and swinging 101 Oonjals’. The event ‘Onnichirikkam Oonjaladam’ ...

Bidders for IDBI Bank to declare no conviction or adverse regulatory orders Interested bidders in the IDBI Bank have to submit a legal declaration that they have not been convicted by any court, indicted or received any adverse order from regulators such as SFIO (Serious Fraud Investigation Office), NCLT (National Company Law Tribunal) and NCLAT (National Company Law Appellate ...

No material impact of rate hike on demand for home loans: RBI data Interest rates do not seem to have a material bearing on people who buy their dream residential properties on borrowed funds as the home loan outstanding of banks almost doubled to Rs 16.85 lakh crore in the last five years, shows Reserve Bank data. ...

SBI lines up NPAs over Rs 746 cr including Sintex BAPL for sale in Oct-Nov The State Bank of India (SBI) has lined up various non-performing assets up for sale this month and the next, including the fraud account of Sintex BAPL, to recover over Rs 746 crore. In an auction scheduled for November 4, SBI will ...

Bandhan Bank loans, deposits rise over 20% to Rs 99,374 cr in Q2FY23 Bandhan Bank on Saturday reported a 22 per cent jump in loans and advances at Rs 99,374 crore at end of September quarter 2022. The Bank’s loans and advances were Rs 81,661 crore in the year-ago period. Total deposits of the private sector ...

YES Bank now on a hunt to buy stressed assets from other lenders YES Bank, which almost collapsed two years ago from bad loans, is now on a hunt to buy stressed assets from other lenders. A new partnership with US private-equity firm JC Flowers & Co. LLC allows it to buy soured loans of other banks, ...

Forex reserves decline to over two-year low to $532.66 bn: RBI data MUMBAI (Reuters) – India’s foreign exchange reserves fell to $532.66 billion in the week through Sept. 30, their lowest level since July 2020, the Reserve Bank of India’s (RBI) weekly statistical supplement showed on Friday. The country’s reserves declined for a ninth consecutive week. They ...

LIC, Centre to sell 60.7% stake in IDBI Bank, invite initial bids The finance ministry on Friday invited initial bids for strategic disinvestment in the IDBI Bank with an aim to jointly sell 60.7 per cent in the bank along with the Life Insurance Corporation (LIC) of India. According to the expression of interest (EoI) released by ...