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Mutual funds have become a widely known investment option. Common investment mistakes people make while investing in mutual funds
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The Reserve Bank of India’s monetary policy committee (MPC) will meet on November 3 to decide on the contents of a letter to be sent to the government following its failure to keep inflation below the tolerance band of 6% for three consecutive quarters since January 2022.
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"We do think that India is a very bright spot. But the brightest spot is the willingness that India has to share that technology. The Indian bank has indicated in our government bank governance meeting, that they are willing to share the technology for this UPI with other member states. You know that (this) costs a lot of money to develop. This openness and generosity is very welcome," the secretary general of the 56-nation group said.
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The CESTAT said that in the absence of any guideline, departmental representatives are unaware as to what stand is to be taken in such cases that are at the bankruptcy court or the appellate body. The IBC overrides other laws and stipulates that recovery proceedings, including tax recovery, cannot be initiated after a company is admitted for debt resolution under the bankruptcy code, the tribunal noted.
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Lenders expect to close the transaction by the first week of November. It will involve NARCL acquiring ₹9,234 crore of stressed loans. In the first week of October, NARCL gave a ₹3,570-crore binding bid for the loans held by public sector banks, triggering a Swiss challenge auction.
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The first tranche of $15 million was executed on October 15 after receiving regulatory approval while the balance of $10 million is scheduled for execution in November, Muthoot Microfin's chief executive Sadaf Sayeed said. The effective cost of borrowing comes to 11.3%. The pricing is 500 basis points over the secured overnight financing rate (SOFR),which is at 2.28%, and includes the hedging cost.
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Systematic Investment Plans is becoming popular across the country. Read to know why
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Life Insurance Corporation (LIC) has been trading below the issue price of ₹949 a share ever since it got listed on stock exchanges on May 17. It listed at ₹872 apiece on NSE. On Tuesday, the scrip settled at ₹595.50, down 0.72%over the previous close.
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Pros and cons of opening multiple bank accounts. Read to know more
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The banks that committed to fund Musk's buyout of Twitter have finished putting together the final debt financing agreement and are in the process of signing the necessary documents, according to a Bloomberg News report.
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The government has directed banks to formulate a clear roadmap in a time-bound manner to strengthen the RRBs (Regional Rural Banks) to support the post-pandemic economic recovery and make technological advancement.
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The Singapore-based lender, which has folded Lakshmi Vilas Bank into its operations to push its retail business here, expects loans and profits to grow in double digits.
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HSBC veteran Hitendra Dave, who until recently headed the bank’s global banking and markets division, took charge as India CEO last year. He has played a developmental role in Indian financial markets as a member of the capital markets committee.
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Equity indices began Samvat 2079 on a positive note on Monday with both sensex and Nifty registering gains across all sectors. The 30-share BSE index jumped 524 points or 0.88% to close at 59,8312. While, the broader NSE Nifty settled 154 points higher at 17,731. In the sensex kitty, prominent gainers were Nestle India, ICICI Bank, L&T, SBI, HDFC, HDFC Bank and Dr Reddy's, spurting as much as 2.92%.
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Petno's remark came during his first closed-door meeting with the heads of nearly two dozen Indian mid-sized companies, held here more than a week ago. Several companies are tapping the bank for a range of products, including credit, cash management, risk management and currency risk covers.
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The group has already incorporated the financial services company within JSWOP and christened it as JSW One Finance Ltd, he said, adding that the company will approach the RBI for a license to work as a non-deposit taking NBFC in the last quarter of FY23, and hopes to get the regulatory nod in 7-9 months after that.
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The government and the LIC hold 45.48 per cent and 49.24 per ecnt stake in the IDBI Bank. Cente has invited bids for sale of 60.72 per cent stake.
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