Finance News

Abrdn likely to sell its 1.66% stake in HDFC Life via block deals: Report Abrdn, a UK-based investment company on Wednesday said it is likely sell its 1.66 per cent stake (35.7 million shares) in HDFC Life Insurance Limited through block deals, reported CNBC citing sources said on Tuesday. The Edinburgh-based company, which was formerly known as Standard Life Aberdeen, has offered ...

Certificates of deposit issuances jumped three-fold in FY23: RBI data RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% RBI MPC: Here is what experts have to say about the policy announcement Banks tier II bond issuance surges 3.5 times in FY23, shows data MPC lowers projection for inflation, raises growth outlook a bit ...

Rs 500 note tightens hold as most circulated currency, show RBI data The share of Rs 500 bank note in circulation increased further to 77.1 per cent as of March 2023, from 73.3 per cent a year ago. But, the share of Rs 100, Rs 200, and Rs 2,000 notes fell in Fy23. No e Rs 2,000 note in circulation ...

SBI Card plans to raise Rs 3,000 cr from debentures to fund business growth SBI Card on Tuesday said it plans to raise up to Rs 3,000 crore by issuing debentures to fund business growth. The decision to consider and approve the proposal for raising funds through the issuance of non-convertible debentures (NCDs) aggregating to Rs 3,000 crore ...

Volume of bank notes in circulation increased by 4.4% during 2022-23: RBI The value and volume of banknotes in circulation increased by 7.8 per cent and 4.4 per cent, respectively, during 2022-23 as compared with 9.9 per cent and 5 per cent, respectively, in 2021-22, revealed the RBI annual report released on Tuesday. In value terms, the share ...

India’s fiscal deficit target of 5.9% for FY24 at risk, warns Nomura Budget 2023-24: Centre to target higher capex but lower fiscal deficit Fiscal deficit target for FY24 to be kept at 5.8-5.9% in Budget: Report Centre’s fiscal deficit for April-November period at 58.9% of FY23 target Finance ministry likely to target fiscal deficit of 5.5-6% in FY24 Budget RBI ...

Banking fraud cases grow to 13,530 in FY23, amount halved to Rs 30,252 cr The number of frauds in the banking sector went up to 13,530 in 2022-23 year-on-year, but the amount involved nearly halved at Rs 30,252 crore, showed a Reserve Bank data released on Tuesday. Frauds occurred predominantly in the category of digital payments (card/internet), in ...

Volume of Rs 500 fake notes detected up 14.6% on-year in FY23, says RBI The number of counterfeit currency notes of Rs 500 denomination detected by the banking system, rose by 14.6 per cent to 91,110 pieces in 2022-23 compared to last year, according to the Reserve Bank of India’s annual report released on Tuesday. At the same ...

General govt deficit moderated to 9.4% of GDP in 2022-23, says RBI report The general government deficit and debt moderated to 9.4 per cent and 86.5 per cent of GDP, respectively, in 2022-23 from the peak levels of 13.1 per cent and 89.4 per cent in 2020-21 respectively, the Reserve Bank of India has noted in its annual report ...

Bank of Baroda aims at 12-15% credit growth in FY23: Executive director State-owned Bank of Baroda (BoB) on Monday said it expects 12-15 per cent credit growth during the current financial year. During the last financial the bank recorded a credit growth of 16 per cent. “We aim at credit growth of 12-15 per cent while deposits ...