Finance News

India's foreign reserves jump to a five-month high of $607 billion The total reserves rose due to the increase in foreign currency assets, which rose by $3 billion in the week

Loan EMIs to rise! SBI hikes MCLR by up to 10 basis points According to the SBI website, only the overnight rate has remained unchanged. As of December 15, the MCLR for the one-year tenure has been raised to 8.65 per cent, up from 8.55 per cent

S&P downgrades Vedanta Resources to 'CC' on potential bond extensions The ratings remain on CreditWatch with negative implications, where they were first placed on September 29, 2023

S&P downgrades Vedanta Resources to 'CC' on potential bond extensions The ratings remain on CreditWatch with negative implications, where they were first placed on September 29, 2023

IRDAI aims to move towards RBC model, IFRS by 2025, says chairman The Chairman also said that Indian insurers are converging towards the IFRS Accounting system by implementing the IND-AS

Variable rate repo auction likely to see firm demand from banks The Reserve Bank of India (RBI) will conduct a seven-day VRR auction on Friday to inject up to Rs 1 trillion into the banking system

Fund pick: ICICI Prudential ELSS Tax Saver Fund pick of ICICI Prudential ELSS Tax Saver

Decision on old pension scheme before Budget session, says Ajit Pawar Maharashtra Deputy Chief Minister Ajit Pawar on Thursday said CM Eknath Shinde has assured government employees demanding restoration of the old pension scheme (OPS) that a decision on it will be taken before the upcoming budget session. The state legislature’s budget session is generally held in February-March every year. ...

Rupee rebounds 13 paise to 83.27 against US dollar in early trade The rupee rebounded by 13 paise to 83.27 against the US dollar in early trade on Thursday after the greenback weakened in the overseas markets as the US Federal Reserve signalled a cut in interest rates next year. The local unit opened strong at 83.30 at the interbank ...

Presence of Indian banks via subsidiaries increased to 417 in FY23: RBI Indian banks increased their overseas presence through the subsidiaries route to 417 during 2022-23, from 399 at the end of the preceeding fiscal, as per Reserve Bank data released on Wednesday. Their employee strength, too, rose 0.5 per cent and 6.2 per cent for foreign branches and subsidiaries, ...