Finance News

Sebi moves to safeguard demat accounts through block mechanism Market regulator, Securities and Exchange Board of India (Sebi), has announced fresh steps to safeguard investors’ demat accounts. The regulator has said that the so-called block mechanism will become mandatory for all early pay-in transactions with effect from November 14. The early pay of securities is used by traders to ...

Rajasthan accounted for highest share in cost of projects in FY22: RBI Rajasthan accounted for the highest share in the total cost of projects sanctioned by banks and financial institutions in 2021-22, retaining the top place for two consecutive years, as per an article published in RBI bulletin. Rajasthan was followed by Uttar Pradesh and Gujarat. ...

Flows into NRI deposits nosedive to mere $349 mn in June quarter Flow of money into non-resident Indian (NRI) deposits nosedived to a mere $349 million in Q1FY23 from $2.52 billion in Q1FY22. Outstanding deposits declined to $135.9 billion at the end of June 2022 from $141.5 billion a year ago. Sequentially, NRI deposits also shrank from ...

Rupee falls by 12 paise to 79.76 against US dollar in opening trade The rupee depreciated 12 paise to 79.76 against the US dollar in opening trade on Friday, tracking the strength of the American currency in the overseas market. At the interbank foreign exchange, the rupee opened at 79.75 against the US dollar, then fell to ...

India aims to copy China, but unbridled digital lending off policy agenda There’s a lot about Beijing’s decades-long infrastructure push and investment-led growth that India wants to emulate. But when it comes to the consumer economy, aping China’s out-of-control digital lending boom is strictly off the policy agenda. The Reserve Bank of India’s recently released guidelines for app-based loans show ...

Baroda BNP Paribas MF mobilises Rs 1,400 cr from flexi-cap scheme NFO Baroda BNP Paribas Mutual Fund on Thursday said it has collected over Rs 1,400 crore from its flexi-cap scheme during the New Fund Offering (NFO) period. The scheme — Baroda BNP Paribas Flexi Cap Fund — is an open-ended dynamic equity scheme investing across large ...

RBI steps in as rupee slides on corporate outflows; bond yields jump The rupee weakened 23 paise to settle at 79.68 per US dollar on Thursday as foreign banks heavily purchased the greenback on behalf of corporates looking to exit domestic investments, dealers said. Dollar demand from banks on behalf of importers following a recovery in crude ...

Forex market intervention aims met with lower fall in reserves: RBI article The Reserve Bank of India (RBI) has been successful in achieving its foreign exchange market intervention goals with a progressively lower drawdown in its reserves, an article by staff of the central bank said. This is largely owing to the accumulation and timely use of ...

Big-bang privatisation of PSUs can be harmful, says RBI article A gradual approach to privatise public sector banks (PSBs) is more ideal than taking a big-bang approach, a study by Reserve Bank of India (RBI) staff has concluded. It has backed the government’s idea to privatise two PSBs initially. Such a gradual approach would ensure that ...

RBI turns net seller of US currency in June; sells $3.719 bn: Data Reserve Bank of India turned net seller of the US currency in June after it sold USD 3.719 billion on a net basis, the central bank data showed. In the reporting month, the central bank purchased USD 18.96 billion from the spot market and ...