Finance News

Ujjivan SFB launches QIP at floor price of Rs 21.93 ahead of merger Ujjivan Small Finance Bank (SFB) on Monday launched its QIP (Qualified Institutional Placement) with a floor price of Rs 21.93 per share to meet the regulatory requirement ahead of merger with its parent company. In February this year, the lender had informed raising of ...

Central Bank withdraws IBC case as Aban Offshore pays one-time settlement Central Bank of India has withdrawn insolvency case against Chennai-based Aban Offshore Ltd after the troubled oil rig paid dues under One-time settlement. The company has been in talks with lenders for a debt resolution plan. The company, which provides offshore drilling services for exploration and ...

HDFC Bank issues e-BG, AEBC appoints Sanjay Khanna as CEO, and more HDFC Bank has issued an electronic bank guarantee (e-BG) in partnership with National E-Governance Services Ltd (NeSL), becoming the first bank in the country to do so. e-BG has been developed in consultation with NeSL, CVC-CBI committee and IBA to simplify the process and eliminate the possibility ...

RBI’s policy decisions been in right direction, says Ashima Goyal The Reserve Bank of India’s (RBI’s) policy decisions to tame headline inflation has been in the right direction as it has approached the inflation originating from food price shocks pragmatically, said Ashima Goyal, external member of the monetary policy committee (MPC) that decides on the policy rates. ...

HDFC CEO sees pickup in home loan demand in India despite rate hikes Demand for home loans is strong in India and is expected to pick up further over the next few months, the head of major housing finance firm Housing Development Finance Corporation said on Monday. “The economy is buoyant, the feel good factor is high, ...

Drop in Indian forex reserves worrisome as inflows slow down: Economists India’s foreign exchange reserves dropping to a two-year low is concerning for the economy as the pace of foreign inflows into the country’s markets eases amid global monetary policy tightening, economists said on Monday. India’s FX reserves declined to $553.1 billion in the week ended Sept. 2, their ...

NBFCs’ asset growth to touch four-year high of nearly 11% in FY23: CRISIL Non-bank lenders’ asset growth will jump to a four-year high of 11-12 per cent this fiscal, a ratings agency said on Monday. The non-bank finance companies (NBFCs) segment has witnessed three consecutive years of constrained asset growth due to the COVID-19 pandemic, with the ...

State-owned lenders raise MCLR, month after third repo rate hike State-owned banks are increasing their marginal cost of funds-based lending rate (MCLR), more than a month after the monetary policy committee (MPC) in August hiked the benchmark policy rate for the third consecutive time to tame headline inflation. Union Bank of India hiked its MCLR by 5-25 ...

S&P affirms State Bank of India’s ‘BBB-‘ rating on improving asset quality Global rating agency Standard and Poor’s (S&P) has affirmed State Bank of India’s long-term rating ‘BBB-‘ on improving asset quality. It also affirmed the short-term issuer credit rating ‘A-3’ and maintained stable outlook for the rating. “The country’s largest lender is likely to sustain ...

Rupee depreciates by 10 paise to 79.67 against US dollar in early trade The rupee depreciated by 10 paise to 79.67 against the US dollar in opening trade on Monday, even as the equity market opened on a positive note. At the interbank foreign exchange market, the rupee opened at 79.66 against the greenback, then fell to ...