Finance News

Indian rupee may sink to 82.50 against towering dollar, funding gap: IDFC The Indian rupee could decline to 82.50 against the dollar by March, driven by the greenback’s surge and the country’s balance of payment deficit, IDFC First Bank said in a research note. The rupee on Monday dropped to a record low of 81.5775 as the ...

Rupee falls 43 paise to all-time low of 81.52 vs US dollar in early trade The rupee depreciated 43 paise to an all-time low of 81.52 against the US dollar in early trade on Monday as the strengthening of the American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, escalation of geopolitical risks ...

ADB explains why RBI may slow down on rate cuts till next year With economic activity still to reach pre-pandemic levels, the RBI may slow down the pace of rate hikes until next year to quell soaring inflation while supporting growth, the Asian Development Bank (ADB) says in its latest report. The Manila-based multilateral funding agency has ...

Canara Bank to raise Rs 3,000 cr in AT1, tier-II capital in H2FY23 Public sector lender Canara Bank plans to raise up to Rs 3,000 crore in capital through additional tier I (AT1) and tier II bonds in second half (October 2022-March 2023) to support elevated growth in credit. The bank, which is looking to keep capital adequacy at 16 ...

Weakening rupee to make import of crude oil, commodities expensive The Indian rupee sliding to a historic low of 81.09 to a dollar will make import of crude oil and other commodities expensive further fueling inflation which for the past several months has remained above the Reserve Bank’s upper tolerance level of 6 per cent. The pressure ...

High NPAs in education loan segment turn banks cautious, says PSB official High defaults of about 8 per cent in the education loan portfolio have made banks cautious and go slow on the sanction of such credit. Non-performing assets (NPAs) in the education loan category including public sector banks’ (PSBs) were 7.82 per cent at the end ...

RBI set for fourth straight rate hike to quell inflation, say experts The Reserve Bank of India (RBI) may take cues from its global counterparts, including the US Federal Reserve, to raise interest rate for the fourth time in a row on Friday to tame stubborn inflation. The RBI, which has since May raised the short-term lending ...

Re has held back very well among peers against USD; RBI & FinMin watching developments: FM Finance Minister Nirmala Sitharaman on Saturday said the rupee has “held back very well” when compared to other currencies against the US Dollar. The Reserve Bank and the Finance Ministry are keeping a very close watch over the developments, the finance ...

Will exit reconstruction scheme after lock-in period ends: YES Bank YES Bank on Friday claimed that the Reserve Bank of India (RBI) would allow the lender to exit the reconstruction scheme it entered in March 2020 after the end of a three-year lock-in period for those who invested in its share. The completion of the lock-in period ...

Rupee Cooperative Bank set to explore merger proposal, SFB conversion Following a stay on cancellation of banking licence by Bombay High Court, Pune-based Rupee Cooperative Bank’s administrator will explore various options. These include conversion into a small finance bank (SFB), or merger with another sound urban co-operative bank (UCB). On August 8, the Reserve Bank of India (RBI) had ordered ...