Finance News

Dollar holds firm against euro, sterling as Jerome Powell speech day dawns By Alun John HONG KONG (Reuters) – The dollar held onto recent gains against the euro and sterling on Friday ahead of Federal Reserve Chair Jerome Powell’s widely-anticipated speech, which traders hope will offer clues on the U.S. central bank’s tightening plans. The euro ...

Broad-based, double-digit annual growth seen in bank credit in Q1: RBI data Keeping with the rising momentum in economic activity, the bank credit expansion was broad-based, posting double-digit annual growth in June 2022 in metropolitan, urban, semi-urban and rural areas in the country, showed Reserve Bank of India data. RBI data showed the metropolitan regions saw maximum ...

Bank credit growth accelerates to 14.2% in June quarter: RBI data Bank credit growth accelerated to 14.2 per cent in the quarter ended June 2022 from 6 per cent in the same period of the previous year, RBI data showed on Thursday. In the quarter ended March 2022, bank credit had expanded by 10.8 per cent. ...

Listed private non-finance companies log 41% sales growth in Q1FY23: RBI The Reserve Bank of India (RBI) on Thursday said the first quarter of FY23 saw listed private non-financial companies log 41 per cent sales growth. The RBI came out with its report, drawing the data from the abridged quarterly financial results of 2,749 listed private non-financial ...

HDFC Bank to invest in IPO-bound general insurance firm Go Digit HDFC Bank on Thursday said it will invest in IPO-bound Go Digit Life Insurance. The lender said it entered into an indicative and non-binding term sheet with the Fairfax Holdings-backed insurer. In a stock exchange filing, HDFC Bank said it will invest between Rs 49.9 crore ...

Rupee falls 7 paise to close at 79.93 against US dollar amid oil surge The rupee declined by 7 paise to close at 79.93 (provisional) after moving in a narrow range against the US dollar on Thursday. At the interbank foreign exchange market, the domestic currency opened at 79.80 per dollar. It hovered in a range of ...

India’s robust growth gives RBI room for more rate hikes, says DBS Group MUMBAI (Reuters) – India’s strong growth offers room for the Reserve Bank of India to raise rates by another 60 basis points as the central bank seeks to stamp out high inflation, DBS Group Research said in a note on Thursday. India’s gross domestic ...

Banks took a haircut of 69 per cent while resolving IBC cases: Report For every Rs 100 admitted for the claims under the Insolvency and Bankruptcy Code (IBC), the banks could realise only 30 per cent of the value. According to a report by Business Line, the latest IBBI data till June 30 showed that the banks took a ...

High interest rates do not deter home buyers, says BoB research report High interest rates does not impact the demand for housing as individual home buyers are aware that it may move up and down during the tenure of their loan, said a research report by Bank of Baroda. The borrowing rates are on the rise since ...

Bandhan Bank to open 551 branches in FY’23: MD Chandra Sekhar Ghosh Bandhan Bank will open 551 more branches in the 2022-23 fiscal, as a part of the lender’s focus to make its distribution stronger in other parts of India outside the eastern region, MD & CEO Chandra Sekhar Ghosh said. With the latest addition, the Kolkata-headquartered ...