Finance News

Rupee falls by 11 paise to 79.93 against US dollar in early trade The rupee depreciated by 11 paise to 79.93 against the US dollar in opening trade on Wednesday, tracking the strength of the American currency overseas. At the interbank foreign exchange market, the rupee opened at 79.93 against the greenback, registering a decline of 11 ...

Banks in talks with Singapore’s DBS to begin real-time remittance system At least five Indian banks, including the State Bank of India and ICICI Bank, are in discussions with Singapore’s DBS Bank to start a real-time remittance system using UPI as the backbone, reported The Economic Times on Wednesday. The banks are in discussions to start a ...

Irdai set to meet insurance CEOs on dematerialisation of policies The insurance regulator is meeting the heads of all life and general insurance companies on Wednesday to discuss dematerialisation of insurance policies, a move aimed at increasing customer convenience. Dematerialisation means converting physical documents into a modifiable online format. This initiative was started by the insurance ...

Tamilnad Mercantile Bank IPO subscribed 1.5 times on second day of Tamilnad Mercantile Bank’s (TMB) initial public offering (IPO) was subscribed nearly 1.5 times on Tuesday. The issue closes on Wednesday. So far, the retail and institutional investor portion of the issue are subscribed 3.5 times and 1 time, respectively. The wealthy investor portion is subscribed 1.25 times. ...

IDBI Bank re-appoints S Jebaraj as deputy MD for 3 years effective Sept 20 IDBI Bank’s board of directors has approved re-appointing Samuel Joseph Jebaraj as deputy managing director for three years with effect from September 20. “Shri Samuel Joseph Jebaraj is not related to any other Director on the Board and KMP (key managerial personnel) of ...

HDFC Bank AT-1 bonds worth Rs 3,000 crore get this FY’s best rate India’s largest private sector lender HDFC Bank on Tuesday sold additional tier-1 (AT-1) bonds worth Rs 3,000 crore at a cut-off rate of 7.84 per cent — the lowest rate shelled out by any bank, so far, in the current financial year. The rate ...

Insurance claims independent of human errors, say industry players The death of former Tata group chairman Cyrus Mistry in a road accident has ignited a debate over the eligibility of insurance claims in accident cases but industry players say the very purpose of buying insurance is to hedge against risk, whether due to human error or otherwise. ...

Canara Bank to raise benchmark lending rate by up to 0.15% from Wednesday 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 ...

SBI to raise up to Rs 7,000 cr via Basel-III AT1 bonds on Sept 11 SBI to raise up to Rs 7,000 cr via Basel-III AT1 bonds on Sept 11. 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 ...

Rupee rises to close at 79.79 against US dollar amid firm domestic equities The rupee appreciated 8 paise to close at 79.79 (provisional) against the US dollar on Monday, in line with a firm trend in domestic equities. However, the strengthening of the American currency in the overseas market restricted the rupee’s gain, forex dealers said. ...