Finance News

Inflation to ease to 4% in two years after peaking, says RBI Governor Reserve Bank of India Governor Shaktikanta Das seeks to slow India’s inflation to 4 per cent within two years after hitting its peak in the last few months. “Inflation has peaked and price gains are getting anchored,” Das said in an interview with television channel ET Now ...

NARCL revises CEO Natarajan Sundar’s salary to market rates: Report In a bid to attract experienced talent, the National Asset Reconstruction Co Ltd (NARCL) has increased the total remuneration of its chief executive, Natarajan Sundar to Rs 1.7 crore, which is significantly higher than the salaries of CEOs of top state-owned banks, Livemint said in a report on Tuesday. ...

Now, IDBI Bank too hikes deposit rates to fund strong loan demand At a time when banks are looking to aggressively increase mobilisation of deposits to fund demand for loans, IDBI Bank has increased interest rates on term deposits. The lender is offering a peak rate of 6.7 per cent to senior citizens for a select period under a ...

Amrit Mahotsav FD scheme: IDBI Bank announces special 500 days deposit IDBI Bank has introduced a limited period special 500 days deposit under the Amrit Mahotsav FD scheme, which will offer 6.70 per cent interest rates. Further, a special bucket of 500 days for US dollar designated FCNR (B) deposits is also introduced offering a peak rate ...

RBL Bank’s board approves raising Rs 3,000 crore to fund business growth RBL Bank on Monday said its board has approved raising up to Rs 3,000 crore to fund the lender’s business growth. The fund raising will be subject to the approval of the shareholders, the bank said in a regulatory filing. Besides, the board has ...

AT1 bond issuances likely to fall to around Rs 200 bn in FY2023: Icra The additional tier 1 (AT1) bond issuances are likely to fall sequentially to around Rs 200 billion in FY2023, from an all-time high of nearly Rs 428 billion in FY2022. The issuances were higher in FY22 as most were driven by refinancing obligations ...

Banks’ AT-1 bond issuances may decline to Rs 20,000 cr in FY23: Report The issuance of Additional Tier-1 (AT-1) bonds by banks is likely to more than halve to Rs 20,000 crore this fiscal compared to the all-time high amount of Rs 42,800 crore raised in FY22, says a report. AT-1 bonds are those debt instruments without ...

LIC Housing Finance, Bajaj Housing Finance hike lending rates by 0.5% Mortgage lenders Bajaj Housing Finance and LIC Housing Finance on Monday announced a 0.50 per cent hike each in their lending rates. The revisions come amid a rising interest rates scenario, which has seen the RBI hiking its key lending rate by 1.40 per cent since ...

Indian rupee at 4-week low; set to breach 80-level against USD, say traders By Anushka Trivedi (Reuters) – The Indian rupee hit a four-week low on Monday as the dollar continued its rally on the U.S. Federal Reserve’s hawkish stance, while the Chinese yuan’s weakness exacerbated losses in the local currency. The partially convertible rupee fell ...

Indian banks issue more certificates of deposits to secure cheap funding Indian banks have increased their fundraising activity through the issuance of certificates of deposits, as funding in the banking system continues to contract, analysts said. “Banks are not raising deposit rates, as they are able to get funds easily from money market by issuing CDs, and ...