Dollar in retreat as Powell says Fed won't raise rates on fear of inflation
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The US dollar remained on the back foot against major peers on Wednesday after a two-day drop as US Fed officials including Chair Powell reaffirmed that tighter monetary policy was still some way off
Govt seeks to appoint advisors to assist IDBI Bank privatisation
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The govt plans to sell its 45.48% shareholding in the lender. LIC, which owns 49.24%, will also offload its stake to transfer management control to new buyer
I-T dept tool to identify 'specified persons' who have to pay higher taxes
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The income tax department has developed a new utility to help TDS deductors and TCS collectors identify the 'specified persons' on whom higher rate of taxes will be levied from July 1.
The Budget 2021 had brought in a provision which mandated that non-filer
SBI gets central board's nod to raise Rs 14,000 crore via bonds
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The country's largest lender SBI on Monday said its central board has approved a proposal to raise up to Rs 14,000 crore by issuing Basel-III compliant bonds
Industry must make pricing of financial products transparent: RBI Dy Guv
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RBI Deputy Governor T Rabi Sankar on Monday urged the industry to make the pricing of financial products and services transparent to minimise chances of mis-selling
Rupee falls 34 paise to 74.20 against US dollar in early trade
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The Indian rupee slumped 34 paise to 74.20 against the US dollar in opening trade on Monday tracking the strengthening of the American currency and a muted trend in domestic equities
Centrum-Bharatpe JV to pump Rs 1,800 cr into PMC on merger
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The joint venture floated by Centrum Group and digital payments startup Bharatpe for launching a small finance bank will infuse Rs 1,800 crore capital into troubled Punjab & Maharashtra Cooperative Bank (PMC) on its merger with the proposed bank, a top Centru
Bank of Maharashtra tops PSU bank chart in MSME loan growth in FY21
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State-owned Bank of Maharashtra (BoM) has become top performer among public sector lenders in terms of retail and MSME loan growth during 2020-21.
The Pune-based lender recorded a 35 per cent growth in MSME loans at Rs 23,133 crore in 2020-21, according to
Indians' funds in Swiss banks: Govt seeks details from Swiss authorities
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The finance ministry on Saturday asserted that Indian customer deposits in Swiss banks have fallen since 2019, but said it is seeking details from Swiss authorities on the relevant facts
Forex reserves rise $3.07 billion to lifetime high of $608.08 billion
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Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Second wave may worsen stressed assets in financial system: Rakesh Mohan
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The second wave of COVID-19 may worsen stressed assets in the banking system, adding pressure on the financial stability, said former RBI deputy governor Rakesh Mohan.
He said the Indian banking system has been reeling under the pressure of non-performing as
MPC: Support from all sides needed to nurture economic recovery, says Das
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RBI governor said pace of vaccination and the speed with which the second Covid wave can be brought under control will have considerable bearing on the inflation trajectory, show MPC minutes
Sovereign bonds in India signal growing doubts on RBI's easy policy stance
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The inflation shock is adding to uncertainty on whether the central bank would stick to its pledge of keeping policy accommodative to support growth after economy was battered by a deadly Covid wave
India rupee at six-week low; bond yields rise after hawkish Fed signal
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Traders said the surge in the dollar index to two-month highs following the Fed's comments on possible rate increases and a significantly higher inflation projection weighed on sentiment
Rupee depreciates 33 paise to 73.65 against US dollar in early trade
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The Indian rupee slipped 33 paise to 73.65 against the US dollar in early trade on Thursday, amid the strengthening of the greenback in the overseas market
CBI books Ruchi Global, its directors for Rs 188 crore bank fraud
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The CBI has filed an FIR against Ruchi Global Limited and its directors for allegedly cheating a consortium of banks led by Bank of Baroda to the tune of Rs 188.35 crore, officials said on Wednesday.
The agency carried out searches at the premises of the acc
Shocked by Covid deaths, young Indians rush for life insurance
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During devastating second wave in April and May, the numbers of people aged between 25 and 35 buying term insurance was 30% higher than in previous 3 months combined, said PolicyBazaar
ICICI Bank raises Rs 2,827 crore by issuing bonds on pvt placement basis
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Private sector lender ICICI Bank has raised more than Rs 2,827 crore by issuing bonds on private placement basis.The bonds carry a coupon rate of 6.45 per cent per annum payable annually and were issued at par. There are no special rights or privileges attach
ICICI Bank raises Rs 2,827 cr by issuing bonds on private placement basis
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ICICI Bank on Tuesday said it has raised over Rs 2,827 crore by issuing bonds on a private placement basis.
Its board of the directors in April this year had approved the fundraising through the issuance of debt securities.
«Pursuant to the same, the
Reserve Bank of India imposes Rs 11 lakh penalty on 2 co-op banks
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The RBI has imposed penalty totalling Rs 11 lakh on Bijnor Urban Co-operative Bank Limited, Bijnor and National Urban Co-operative Bank Limited, New Delhi for contravention of certain norms
