Finance News

Surety bonds must complement bank guarantee: Irdai's Debasish Panda According to Irdai norms, a surety bond is a contract to perform the promise, or discharge the liability, of a third person in case of his default

Bank lending to NBFCs jumps 23.6% in July to Rs 13.8 trillion: Report Banks’ credit exposure to non-banking financial companies rose 23.6 per cent on-year to Rs 13.8 lakh crore in July, pushing up their overall share to 9.3 per cent during the month, an analysis of the RBI’s monthly data by a ratings agency showed. The month also saw ...

RBI bought net $3.47 billion in spot foreign exchange market in July The RBI said it purchased $5.32 billion and sold $1.84 billion in July. In June, the central bank had bought a net of $4.50 billion in the spot market

Govt to provide up to 8% interest subsidy for Vishwakarma Yojana: FM Finance Minister Nirmala Sitharaman said the government will offer up to 8 per cent subsidy for loans given to artisans under the Vishwakarma Yojana launched by Prime Minister Narendra Modi on Sunday. The government has already made a provision of Rs 13,000 crore in the Budget 2023-24, she ...

HDFC Bank enters into co-lending partnership with CreditWise Capital Leading private lender HDFC Bank entered into a co-lending partnership with CreditWise Capital (CWC) for extending two-wheeler loans. CWC said in a statement on Friday that by virtue of the co-lending agreement, loans for two-wheelers will be available in Tier 2, 3 and 4 towns of the country. Founder and director ...

India's forex reserves decline to 11-week low of $593.90 billion: RBI The changes in foreign currency assets, expressed in dollar terms, include the effects of appreciation or depreciation of other currencies held in the RBI’s reserves

SAT stays Sebi's directions in open offer for Federal-Mogul Goetze In a letter dated 30 August, the market regulator appointed MM Nissim & Co as an independent chartered accountant to value the shares of Federal-Mogul Goetze for the open offer

Banks can't use LOC as measure to recover money: Delhi High Court Banks cannot use Look Out Circulars as a way to recover money, the Delhi High Court has said, holding LOCs can’t be opened on mere possibility of a person being made an accused in a criminal case as they take away a person’s right to travel abroad which ...

Finance ministry asks Sidbi to increase direct lending portfolio Out of Rs 10,000 cr corpus available under the Fund of Funds for Startups (FFS) Scheme, Sidbi has sanctioned around Rs 9,500 cr to AIFs and disbursements have been around Rs 4,500 crore so far

With 74 foreign visits since 2014, PM Modi breaks Manmohan Singh's record Data suggests that while Modi has spent fewer days abroad than his predecessor (270 days versus Singh’s 306), he has travelled more extensively and actively than any other Indian PM