Finance News

The good, bad and ugly of rupee hitting new low against US dollar Indian National Rupee (INR) has not been in news for the right reasons so far this year. It has been dragged down by the perfect storm of international pressures and geopolitical headwinds. However, the current situation is a necessary wake-up call to regulators and policymakers to ...

Punjab & Sind Bank’s asset quality deterioration to moderate: CRISIL Asset quality deterioration at Punjab & Sind Bank (PSB) is expected to slow down as the state-owned lender decreases slippages and makes higher recoveries, according to CRISIL Rating. The Delhi-based lender’s gross non-performing assets (NPA) were at 11.34 per cent in June 2022 (they were 12.17 per ...

Rupee hits new low of 80.14 per $ as Fed’s Powell talks tough on inflation The rupee weakened to a new low against the US dollar on Monday as the greenback surged globally following Federal Reserve Chair Jerome Powell’s firm commitment to tackling high inflation even at the cost of economic growth. The rupee weakened to a ...

Stop charging platform fee on BBPS payments: NPCI directs payment apps The National Payments Corporation of India (NPCI) has directed the payment apps to stop charging platform fees for the Bharat Bill Payment System (BBPS) payments. NPCI’s directive comes days after a discussion paper was released by the Reserve Bank of India (RBI) related to such charges. ...

Bank of Baroda planning to raise Rs 5 billion through perpetual bonds MUMBAI (Reuters) – India’s Bank of Baroda plans to raise at least 5 billion rupees ($62.52 million) through sale of Basel III compliant additional Tier I perpetual bonds, three merchant bankers said on Monday. The state-run lender has invited coupon and commitment bids from bankers ...

Bank credit up by 15.32%; deposits by 8.84% in fortnight ended Aug 12: RBI Bank credit grew by 15.32 per cent to Rs 124.305 lakh crore and deposits by 8.84 per cent to Rs 169.49 lakh crore in the fortnight ended August 12, the RBI data showed. In the fortnight ended August 13, 2021, bank advances stood at Rs 107.79 ...

Forex reserves fall $6.7 bn to $564 bn in 7 days, at 2-yr low: RBI The fall was mainly due to a decline in foreign currency assets, by $5.8 billion, followed by gold reserves by $704 million 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 ...

Rupee rises by 8 paise to 79.84 on weak dollar ahead of Fed chair speech The rupee appreciated by 8 paise to close at 79.84 against the US dollar on Friday, supported by a weak dollar in the overseas markets and a positive trend in domestic equities. However, higher crude prices in the international markets restricted the ...

Rupee rises by 6 paise to 79.86 against US dollar in opening trade The rupee appreciated 6 paise to 79.86 against the US dollar in opening trade on Friday, driven by foreign fund inflows and a firm trend in domestic equities. At the interbank foreign exchange, the domestic unit opened at 79.87 against the dollar and inched ...

Rupee to remain under pressure despite RBI support, says Societe Generale The Indian rupee is likely to struggle against the dollar as slowing global growth and the Federal Reserve’s interest rate stance overshadows Reserve Bank of India’s intervention, Societe General suggested in a note on Friday. “The RBI is likely to intervene at key levels such as ...