Finance News

Cabinet okays DA hike by 4 percentage points for central govt employees ‘This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission,’ the government said in a statement

Macrotech Developers raises Rs 3,300 crore capital through QIP route Realty firm Macrotech Developers Ltd on Thursday said it has raised Rs 3,300 crore by selling shares to institutional investors. In a statement, the company said it has successfully closed the Qualified Institutional Placement (QIP). The QIP was oversubscribed nearly 3 times within 5 hours of issue opening and witnessed ...

Operating environment for Indian banks to improve in 2024: Moody's Banks will maintain sufficient levels of loan-loss reserves. However, impairments of unsecured retail loans could increase as they have grown rapidly in the past 2 yrs while interest rates have risen

Bajaj Allianz General launches GenAI-powered bot 'Insurance Samjho' It aims to address the dissatisfaction of policyholders during claim settlement arising due to lack of understanding, intricate details and fine print of the insurance policy

RBI, Bank Indonesia agree to use local currencies for bilateral trade This framework would enable exporters and importers to invoice and pay in their respective domestic currencies, which in turn would enable the development of an INR-IDR foreign exchange market

Rupee appreciates 9 paise to 82.74 against US dollar in early trade The rupee stayed firm and rose 9 paise to 82.74 against the US dollar in early trade on Thursday on the back of a weak American currency overseas and sustained inflow of foreign funds in the domestic capital markets. The local currency also found support from positive equity ...

Banks must give customers choice to select credit card network: RBI Some arrangements between card networks and issuers are ‘not conducive’ for customers, it says

NPCI joins hands with IISc to conduct joint research on blockchain, AI The partnership will focus on scalable blockchain platforms and multi-modal analytics over fintech data, NPCI said in a statement

Rupee turns flat at 82.90 against US dollar, resists downward pressure The rupee stayed flat at 82.90 against the US dollar in early trade on Wednesday, resisting downward pressure from a stronger American currency and volatile crude oil prices in the overseas markets. The local unit was also dragged down by the negative sentiment in the equity markets, however, it ...

Rupee declines 2 paise to 82.92 against US dollar in early trade today The rupee declined 2 paise to 82.92 against the US dollar in early trade on Tuesday, tracking a stronger American currency against major overseas rivals and outflow of foreign funds from domestic capital markets. Though a downward trend in the crude oil prices cushioned the Indian currency, ...