Finance News

Committee to review govt employees’ pension, suggest changes: FinMin The Finance Secretary-headed committee to review the pension system for government employees is in the process of consulting stakeholders and is yet to finalise its report, the ministry said on Thursday. The ministry in April set up a committee under Finance Secretary T V Somanathan to review the pension ...

RBI directive on one-time-settlement with defaulters can derail banks: MP The RBI circular permitting banks to enter into a one-time settlement with wilful defaulters poses a significant risk to the stability of financial institutions in the country, the CPI MP Binoy Viswam has said. In a letter to Union Finance Minister Nirmala Sitharaman, Viswam said that by offering ...

Govt likely to offer assured base pension in compromise with states: Report By Nikunj Ohri and Aftab Ahmed NEW DELHI (Reuters) -India’s federal government will likely assure its employees a minimum pension of 40%-45% of their last drawn salary by altering the current market-linked pension scheme to assuage some holdout states, two government officials told Reuters. The ...

Rupee globalisation to spur easier trade with other nations: Ex-RBI dy guv By Anup Roy India’s efforts to internationalise the rupee are aimed at easing trade settlements with other nations, rather than contributing to de-dollarization, according to a former Reserve Bank of India official. “India is not aspiring to make the rupee a reserve currency,” Usha Thorat, a former ...

Buyer preference for bigger, premium homes is big win for these 11 builders Residential real estate developers are expected to clock 8-10% sales growth this fiscal, despite interest rates and home prices rising last fiscal, riding on 4-6% volume growth and a 3-5% increase in capital values, said rating agency Crisil in a report. Buoyant residential demand across the ...

Time to rebalance your portfolios, book profits? With the benchmark Sensex hitting a new all-time high, is it to time rebalance portfolios? The BSE Sensex hit an all-time high in intra-day trade on Wednesday. It ended the session at 63,523 with a gain of 195 points, or 0.3 per cent, while the Nifty settled at 18,857, adding 40 points, or ...

IIFCL targets to raise Rs 17,000 crore from bond issuances in FY24 Infra financier IIFCL is targeting to raise up to Rs 17,000 crore through bond issuances in FY24, a top official said on Tuesday. The state-run company has already raised Rs 500 crore through a bond issue and will be doing issuances in tranches of Rs 2,000-3,000 ...

Non-banking lender SMFG India Credit eyes Rs 75,000 cr loan book by FY26 Mid-sized non-banking lender SMFG India Credit, formerly Fullerton India Credit, is looking at doubling the loan book over the next two-three years from the present Rs 36,000 crore. Japanese financial powerhouse SMFG bought a controlling 74.9 per cent stake in Fullerton in December 2021 for ...

Rupee ends higher on dollar inflows; Fed’s testimony to lawmakers in focus By Sethuraman N R BENGALURU (Reuters) – Indian rupee ended stronger on Wednesday, shrugging off weakness in Asian peers, aided by continuous dollar inflows into the domestic share market. The rupee closed at 82.0375 to the dollar against a close of 82.1175 on Tuesday. ...

Treasury-bill auction sees firm demand on hopes of improving liquidity Treasury bills saw firm demand at the auction on Wednesday, as market participants expected the liquidity position in the banking system to improve after the final Goods and Services Tax (GST) outflow, dealers said.  Wednesday was the last day of GST payment. Surplus liquidity in the system, as indicated ...