Finance News

Amid rising credit demand, SBI  looks for a revamp to increase deposits The State Bank of India (SBI) is planning to revamp its current and savings accounts (CASA), salary accounts and transaction banking businesses. In a bid to increase deposits, SBI is looking to to hire an external consultant to redesign strategy for these businesses. “The bank ...

Blind adoption of new fintech could have an adverse impact: RBI ED Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only ...

HDFC Bank raises Rs 3,000 crore from bonds to fund business growth Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only ...

Bonds, rupee strengthen as crude oil prices fall below $90 a barrel Government bonds and the rupee strengthened sharply on Thursday as crude oil prices declined to their lowest levels in seven months, easing concerns about elevated domestic inflation, dealers said. Yield on the 10-year benchmark 7.26 per cent 2032 paper settled at 7.08 per cent as ...

PSU general insurers recommend 12% wage hike, unions dissatisfied The employee unions in the government owned general insurance and reinsurance companies will be chalking out their next course of action as the government and the management has decided to offer a 12 per cent wage hike, said a union official. “The General Insurers’ (Public Sector) Association of ...

Rupee rises 23 paise to close at 79.72 vs dollar amid easing crude prices The rupee appreciated 23 paise to close at 79.72 (provisional) against the US dollar on Thursday amid easing crude oil prices and a firm trend in domestic equities. At the interbank forex market, the local unit opened at 79.72 against the greenback. ...

RBI should be more synchronised with fiscal policy to tackle inflation: FM Finance Minister Nirmala Sitharaman on Thursday said the Reserve Bank will have to be more synchronised with the fiscal policy and other factors in taming inflation. Inflation management cannot be singularly left to the monetary policy, which has proved totally ineffective in many countries, she ...

Digital lending norms aim to protect customer interest: RBI’s Rao The Reserve Bank of India’s recent norms on digital lending aim to strike a balance between innovation and inclusion while ensuring that regulatory arbitrage is not exploited to the detriment of customer interest, said Deputy Governor M Rajeshwar Rao. “Another underlying theme of this regulatory framework is ...

Life insurers’ new business premia up 18% in August despite large base Life insurance companies reported an 18 per cent year-on-year (YoY) growth in new business premia in August, despite a large base, because of healthy growth in premia of private sector insurers. The data put out by the Life Insurance Council shows life insurer’s reported new ...

Appoint new CFO for RattanIndia Finance within 60 days, says NCLAT Appellate tribunal NCLAT on Wednesday set aside an NCLT order and directed to appoint a CFO for non-banking finance company RattanIndia Finance within 60 days. A three-member NCLAT bench said any suggested candidate by the JV partner LSF 10 Rose Investments, under section 140 of the ...