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In a move that will increase the cost of borrowings for businesses and individuals, including home and auto loans, the Reserve Bank of India has hiked its repo rate by 50 basis points from 4.9% to 5.4%.
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In a move that will increase the cost of borrowings for businesses and individuals, including home and auto loans, the Reserve Bank of India has hiked its repo rate by 50 basis points from 4.9% to 5.4%.
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The losses of health insurance business of PSU insurers either wiped out or decreased profits of other lines of business or increased the overall losses, the audit report on third-party administrators (TPAs) in the health insurance business of public sector insurance companies noted.
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The "unacceptably high" inflation trending around 7 per cent mark led the Reserve Bank of India to hike rates by an aggressive 0.50 per cent on Friday, according to governor Shaktikanta Das.
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The department had also found that the said fund manager and chief trader was sharing specific trade related information with brokers/middlemen and persons located in power certain foreign jurisdictions.
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HDFC Ltd has raised the amount by way of external commercial borrowings (ECBs). "This landmark financing further promotes HDFC's longstanding mission to be the leading provider of housing finance in India. Proceeds from the social loan would go towards financing affordable housing loans," the company said.
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The Reserve Bank of India on Friday retained its growth projection at 7.2 per cent for the current fiscal as it sees improvement in urban demand and gradual recovery in rural India aided by normal monsoon.
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Chief Executive Officer Piyush Gupta said the lender isn’t looking at a deal for the bank. His comments come after Indian media reported that DBS was considering purchasing a stake and held discussions with finance ministry officials in New Delhi.
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The rupee declined against a strong dollar on Thursday as the country's record trade deficit remained a cause for concern ahead of the Reserve Bank of India's monetary policy decision due at the end of the week.
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Indian government bond yields were marginally lower on Thursday, tracking a fall in global oil prices, with market participants awaiting the Reserve Bank of India's monetary policy decision due on Friday.
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Best way to diversify your mutual fund portfolio is to invest in multi-asset allocation fund. Here are 5 tips to so
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“The aggregate value of AT1 (additional tier one) bonds held in a particular bank, at any point of time, shall not excess 10% of the total outstanding AT1 bonds of that particular bank,” Insurance Regulatory Development Authority of India (IRDAI) said late Wednesday. Earlier, the cap was meant for any particular primary issuance of those bonds, popularly known as perpetual papers.
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The states for which Post Devolution Revenue Deficit(PDRD) Grant has been recommended by the 15th Finance Commission during 2022-23 are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttarakhand and West Bengal.
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In an exposure draft on insurance intermediaries, the insurance regulator proposed to increase the maximum limit of tie-ups with insurers for corporate agents from three to nine. It also proposed to raise tie-up limit with insurers for insurance marketing firms from two for each category of insurance to six.
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What are multi-asset allocation funds? Should you invest in it for a long term prospect? Read to know more
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The rupee rose to a five-week high on Tuesday to strengthen at 78 levels, forcing the central bank to change tack and buy dollars to prevent an appreciation.
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Banks' incremental credit to deposit ratio, or the proportion of new deposits that banks use for fresh lending, has gone past the 100% mark. That indicates that banks are liquidating their investment portfolio to meet credit demand, putting further pressure on system liquidity.
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NPCI is working on a feature that will allow real-time settlement of such transactions.
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Finance minister Nirmala Sitharaman on Tuesday said there is no GST on chequebooks for bank customers, as she tried to clear "misinformation" over issues related to the imposition of the levy on various products and services.
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The merger of HDFC with HDFC Bank will change the composition of credit in the banking sector and increase share of home loans to a fifth of all bank credit.
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Companies rated investment grade locally can make use of the central bank's relaxed rules on external commercial borrowings, the Reserve Bank of India (RBI)
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According to government and stock exchange data reviewed by ET, the government has pumped in ₹27,000 crore into IDBI Bank between April 1, 2010 and March 31, 2021. Data show the government acquired 4.5 billion shares in IDBI Bank during this 11-year period. This brings its weighted average cost of acquisition to ₹60 a share.
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Karnataka Bank has promoted three of its Deputy General Managers Jayanagaraja Rao S, Ananthapadmanabha B and Ramesh Bhat as General Managers. Rao is a postgraduate in business administration with PG diplomas in management and operations management, while Ananthapadmanabha is a PG diploma holder in computer applications and Bhat is a post-graduate in agriculture.
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Of these, five were major tech IPO launches of 2021 — Zomato, Paytm, Nykaa, Fino Payments Bank, Policy Bazaar and CarTrade. Investors have turned cautious as the ongoing events globally has changed their appetite for new age growth stocks to traditional defensive stocks.
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While HDFC Bank hasn’t given any a breakup of the data on slippages, numbers from state-run banks that ET looked at did not show such trends. ICICI Bank reported slippages of Rs 5,037 crore in retail loans, including rural and business banking loans, in the June quarter, compared with Rs 788 crore for corporate and SME loans.
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The deadline for filing I-T returns by those taxpayers who do not have to get their accounts audited for the fiscal that ended on March 31, 2022 was Sunday. Till July 30, more than 5.1 crore tax returns were filed.
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The bank reported an improvement in its asset quality parameters with gross NPAs falling to 3.36% in the June quarter versus 4.61% a year ago. The net NPA came to 1.30% Provisions for the quarter were at ₹308 crore against ₹1,872 crore in the period last year, a reduction of 84%. The credit cost was 0.9%
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"As the holder of the G20 presidency, Indonesia fully encourages an increase in tax transparency among countries. A fair and transparent international tax system is important to overcome tax evasion, prevent transfer pricing, and encourage conducive national tax policies," said Maudy Ayunda, the Indonesian government spokesperson for the G20 Presidency.
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