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Rupee gains 22 paise to end at 74.91 against US dollar

The rupee gained 22 paise to close at 74.91 (provisional) against the US dollar Wednesday as positive domestic equities and a weak American currency in the overseas markets boosted investor sentiment
Finance

Rupee gains 22 paise to end at 74.91 against US dollar

The rupee gained 22 paise to close at 74.91 (provisional) against the US dollar Wednesday as positive domestic equities and a weak American currency in the overseas markets boosted investor sentiment

Need to resurrect concept of gold bank to monetise physical gold: R Gandhi

There is a need to establish a gold bank in the country to help monetise physical gold lying with people, Reserve Bank of India's former deputy governor R Gandhi said on Wednesday. He said the country needs to play along with the Indian psyche of the strong
Finance

Need to resurrect concept of gold bank to monetise physical gold: R Gandhi

There is a need to establish a gold bank in the country to help monetise physical gold lying with people, Reserve Bank of India's former deputy governor R Gandhi said on Wednesday. He said the country needs to play along with the Indian psyche of the strong preference for physical gold and gold in the form of jewellery, if it wants to be successful in monetising gold for the betterment of the economy. It is estimated that around 23,000-24,000 tonnes of gold lie with the households and religious institutions in India but it is not easy to change the psyche of the people, he added. «It may be the time to resurrect the concept of a gold bank a bank which will accept gold deposits that provides gold loans exclusively or predominantly,» Gandhi said on Wednesday at a virtual event organised by digital lending fintech firm Rupeek on 'Tech Disruption meets Gold Monetisation'. Emerging economies like India need a lot of capital for ushering in consistent high growth, which will lead to hig

States improve fiscal position, but local bodies still suffer: RBI report

Covid worsened finances of local govts in 2020-21 and 2021-22; local authorities would lose 15-25% of their revenues in 2021, which may make maintenance of current level of service delivery difficult
Finance

States improve fiscal position, but local bodies still suffer: RBI report

Covid worsened finances of local govts in 2020-21 and 2021-22; local authorities would lose 15-25% of their revenues in 2021, which may make maintenance of current level of service delivery difficult

Rupee pares initial gains, settles 10 paise lower at 75.17/dollar

The rupee on Tuesday pared its initial gains to settle 10 paise lower at 75.17 (provisional) against the US dollar as investor concerns grew over fresh impact of new COVID variant on the economy
Finance

Rupee pares initial gains, settles 10 paise lower at 75.17/dollar

The rupee on Tuesday pared its initial gains to settle 10 paise lower at 75.17 (provisional) against the US dollar as investor concerns grew over fresh impact of new COVID variant on the economy

Issued no direction to banks to not give loans to 'sensitive customers': FM

Sitharaman, during Question Hour in the Rajya Sabha, said there is no «official stated policy» directing banks not to give loans to certain categories of customers.
Finance

Issued no direction to banks to not give loans to 'sensitive customers': FM

Sitharaman, during Question Hour in the Rajya Sabha, said there is no «official stated policy» directing banks not to give loans to certain categories of customers.

FM says Crypto Bill will be introduced in Parliament after Cabinet nod

'We are not considering a ban on the advertisements, but we've been taking steps to caution the public through RBI and SEBI,' says Nirmala Sitharaman
Finance

FM says Crypto Bill will be introduced in Parliament after Cabinet nod

'We are not considering a ban on the advertisements, but we've been taking steps to caution the public through RBI and SEBI,' says Nirmala Sitharaman

Governance, transparency in Indian banks weak by global standards: S&P

The lack of improvement in risk management and corporate governance in the coming growth cycle could produce a new crop of sour loans, the rating agency said
Finance

Governance, transparency in Indian banks weak by global standards: S&P

The lack of improvement in risk management and corporate governance in the coming growth cycle could produce a new crop of sour loans, the rating agency said

Understanding provident fund and public provident fund

Those working in the private sector don't have retirement benefits like pension. The retirement corpus they build over the years is through provident fund (PF). But what are PF and PPF? Let's find out
Finance

Understanding provident fund and public provident fund

Those working in the private sector don't have retirement benefits like pension. The retirement corpus they build over the years is through provident fund (PF). But what are PF and PPF? Let's find out

Rupee plunges by 23 paise, slips below 75 a dollar on Omicron worries

The rupee on Monday plunged by 23 paise to close at 75.12 (provisional) against the US dollar, as investors turned cautious in view of a new variant of COVID-19.
Finance

Rupee plunges by 23 paise, slips below 75 a dollar on Omicron worries

The rupee on Monday plunged by 23 paise to close at 75.12 (provisional) against the US dollar, as investors turned cautious in view of a new variant of COVID-19.

Life insurers' NBP set to expand 14% in FY22 on higher growth in H2: Icra

The rating agency expects the private players' profitability to remain subdued in FY22 due to high claims in Q1
Finance

Life insurers' NBP set to expand 14% in FY22 on higher growth in H2: Icra

The rating agency expects the private players' profitability to remain subdued in FY22 due to high claims in Q1

NBFC fragile assets likely to rise to 5-6% by March 2022: Crisil

Asset quality pressures vary across asset classes. While home and gold loans have been relatively less affected, unsecured credit and SME loans faced brunt
Finance

NBFC fragile assets likely to rise to 5-6% by March 2022: Crisil

Asset quality pressures vary across asset classes. While home and gold loans have been relatively less affected, unsecured credit and SME loans faced brunt

RBI wants digital currency included under definition of 'bank note': FinMin

RBI is working out a phased implementation strategy for introduction of Central Bank Digital Currency with little or no disruption
Finance

RBI wants digital currency included under definition of 'bank note': FinMin

RBI is working out a phased implementation strategy for introduction of Central Bank Digital Currency with little or no disruption

RBI wants digital currency included under definition of 'bank note': Centre

RBI is working out a phased implementation strategy for introduction of Central Bank Digital Currency with little or no disruption
Finance

RBI wants digital currency included under definition of 'bank note': Centre

RBI is working out a phased implementation strategy for introduction of Central Bank Digital Currency with little or no disruption

IndusInd Bank's subsidiary defers review of decision to relieve top 2 execs

Last week, the bank had said that the two top executives of BFIL cannot be relieved from their positions until the review of certain transactions at the company is completed
Finance

IndusInd Bank's subsidiary defers review of decision to relieve top 2 execs

Last week, the bank had said that the two top executives of BFIL cannot be relieved from their positions until the review of certain transactions at the company is completed

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