Finance News

Banks loans rose 16.4% YoY in two weeks to Sept 23, deposits up 9.2%: RBI Oct 7 (Reuters) – Indian banks’ loans rose 16.4% in the two weeks to Sept. 23 from a year earlier, while deposits rose 9.2%, the Reserve Bank of India’s weekly statistical supplement showed on Friday. Outstanding loans rose 787.65 billion rupees ($9.56 ...

RBI to launch e-rupee on pilot basis for limited use; issues concept paper The Reserve Bank on Friday said it will soon commence the pilot launch of e-rupee for specific use cases with a view to bolstering India’s digital economy, making payment systems more efficient, and checking money laundering. In a concept note on Central Bank Digital ...

IDBI Bank privatisation: Govt, LIC together to sell 60.72% majority stake The government is looking to sell a 60.72% majority stake in IDBI Bank and has invited expressions of interest, it said in a notification on Friday. State-owned Life Insurance Corporation of India will also be diluting its holding in IDBI Bank as part of the state’s ...

RBI sells dollars as rupee hits record low on US interest rate hike fears The Reserve Bank of India likely sold dollars via state-run banks on Friday after the rupee slid below 82 to a record low against the dollar on concerns over the U.S. Federal Reserve rate outlook, traders told Reuters. The rupee was last trading ...

Rupee breaches 82/$1 for first time as Fed officials back rate hike view The rupee weakened to a new low against the US dollar on Friday as Federal Reserve officials in the US outlined a large quantum of rate hikes going ahead, leading to a stronger greenback globally. The rupee, which weakened past the 82 per dollar ...

RBI likely to set underwriting commission in 1.00-1.50 paise band: Poll The Indian government aims to raise at least 280 billion Indian rupees ($3.41 billion) through the sale of bonds on Friday. The Reserve Bank of India will likely set underwriting commission for these notes in the 1.00 paise to 1.50 paise range, according to a Reuters ...

No peace for Indian rupee as mighty dollar thunders on: Reuters Poll By Arsh Tushar Mogre and Devayani Sathyan BENGALURU (Reuters) – India’s rupee will trade near its record low against the mighty greenback beyond this year, buffeted by rising oil prices and an aggressive U.S. Federal Reserve rate-hiking campaign, according to a Reuters poll of FX ...

Bajaj Finance raises fixed deposit interest rate by up to 30 bps Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv, has increased the Interest Rates on their Fixed Deposit (FD) programme by up to 30 basis points, for tenor between 24 to 30 months. Revised rates will be applicable from October 07, 2022. Bajaj Finance ...

We are in the underserved market, not unserved: U Gro Capital VC & MD Chokhani Securities was renamed as U Gro Capital after Sachindra Nath – the former CEO of Religare Enterprises acquired the company in December 2017.In an interaction with Business Standard, Nath – the Vice Chairman and Managing Director of U Gro, tell Manojit Saha that the ...

RBI approves Prashant Kumar’s appointment as Yes Bank CEO for three years The Reserve Bank of India has approved the appointment of Prashant Kumar as MD and CEO of Yes Bank for three years with effect from October 6, 2022. Earlier in July this year, the alternate Board of the private sector lender had recommended to the ...