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Blod.in introduces Blod+, a transformative healthcare software and logistics platform, revolutionizing blood management and delivery in India. Blod+ ensures steady blood access for hospitals, reducing wastage significantly. Healthcare giants like CloudNine, Bewell, Sooriya Hospital, and IMAX Hospital have adopted Blod+, highlighting its integration ease. It reduces the average sourcing time for blood from 6 hours to an average of 2 hours and 7 minutes, empowering blood banks to distribute blood more efficiently. The launch follows a funding round with investments from industry leaders.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/gUeqtFp
Bankers vying for a role on a possible initial public offering of Golden Goose showed up at pitch meetings wearing pairs of the luxury Italian shoemaker's $600 sneakers, people with knowledge of the matter said. Roughly a dozen banks competed last week in a so-called bakeoff for roles on a potential Milan listing of Golden Goose, according to the people. Bankers pitched valuations of ₹3 billion ($3.3 billion) to ₹4 billion for the company, they said.
In a proactive move aimed at mitigating potential systemic risks associated with the rapid growth of consumer credit, the Reserve Bank of India (RBI) has implemented stringent measures, impacting both banks and non-bank financial institutions (NBFIs). Fitch Ratings has provided insights into the repercussions of these regulatory adjustments on the financial sector. The central focus of the regulatory adjustments is to mandate banks and NBFIs to allocate more capital against unsecured consumer credit.
Sri Lanka's central bank lowered interest rates on Friday in an unexpected move to boost growth, while projecting inflation would remain subdued over the medium term. The Central Bank of Sri Lanka (CBSL) lowered key rates by 100 basis points (bps), reducing the standing deposit facility rate and the standing lending facility rate to 9% and 10%, respectively, and taking total rate cuts to 650 bps since the current easing cycle began in June. CBSL had raised rates by a record 10.50 percentage points to bring down sky-high inflation between April 2022 and March this year.
The dollar rebounded from a two and a half low after the Federal Reserve's minutes hinted that interest rates would remain restrictive. The Fed stated they would proceed "carefully" and only raise rates if inflation control faltered. Markets expect the Fed to hold rates in December, but there is a 27% chance of a rate cut in March. The dollar index rose 0.2% but is down 2.6% in November. Analysts believe the Bank of Japan may exit negative interest rates next year. Bitcoin rose 2.3% after Binance's chief announced a guilty plea for breaking US anti-money laundering laws.
India's central bank governor, Shaktikanta Das, has warned banks and non-bank finance companies (NBFCs) to avoid "all forms of exuberance" and ensure lending is sustainable. The Reserve Bank of India (RBI) recently tightened lending rules to address concerns about the risk associated with small-ticket consumer credit. Das also urged lenders to be cautious about relying solely on pre-set algorithms for lending decisions and asked non-bank lenders to diversify their sources of funding.
The 30-share BSE Sensex climbed 74.43 points to 66,005.20 in early trade. The Nifty went up by 26.15 points to 19,809.55. Among the Sensex firms, Power Grid, Titan, Sun Pharma, Reliance Industries, Hindustan Unilever, Asian Paints, Tata Motors, Tech Mahindra, Nestle and ITC were the biggest gainers. Kotak Mahindra Bank, ICICI Bank, IndusInd Bank and JSW Steel were the major laggards. The US markets ended in the negative territory on Tuesday. Global oil benchmark Brent crude declined 0.16 per cent to $82.32 a barrel.
Fedbank Financial Services, a subsidiary of Federal Bank, has raised Rs 325 crore from anchor investors ahead of its IPO. The company has allocated 2.32 crore equity shares to 22 funds at Rs 140 per share. The IPO, with a price range of Rs 133-140 per share, will be open for three days starting November 22. The proceeds from the IPO will be used to enhance the company's capital base and cover expenses. ICICI Securities, BNP Paribas, Equirus Capital, and JM Financial are the lead managers of the IPO.
The 30-share BSE Sensex climbed 275.62 points or 0.42 per cent to settle at 65,930.77. During the day, it jumped 427.21 points or 0.65 per cent to 66,082.36. The broader Nifty went up by 89.40 points or 0.45 per cent to 19,783.40. Among the Sensex firms, JSW Steel, Titan, Tata Steel, Sun Pharma, Reliance Industries, Bharti Airtel, Tata Motors and HDFC Bank were the biggest gainers. NTPC, Tech Mahindra, Maruti, State Bank of India and Larsen & Toubro were among the laggards.
The 30-share BSE Sensex climbed 268.31 points to 65,923.46 in early trade. The Nifty went up by 85.1 points to 19,779.10. Among the Sensex firms, JSW Steel, Tata Steel, Titan, Reliance Industries, HDFC Bank and Infosys were the biggest gainers. arsen & Toubro, Maruti, Nestle and Hindustan Unilever were among the laggards. The US markets ended in the positive territory on Monday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 645.72 crore on Monday, according to exchange data.
HSBC is set to expand its China wealth business by increasing its headcount to 3,000 by 2025. The bank has already recruited 1,500 wealth managers in China since 2011 and plans to continue hiring despite the country's economic challenges. This expansion aligns with HSBC's digital-focused "Pinnacle" strategy and its commitment to investing $3.5 billion in the Asian region in 2021. The bank estimates that China's household wealth will increase by 8.5% annually from 2022 onwards.
Indians doubled their average monthly remittances allocated to deposits in foreign banks and investments in debt and equity instruments overseas in September 2023. This trend coincided with the October 1 deadline for implementing government’s directive to collect higher tax at the source from individuals remitting funds overseas. According to data released by RBI, the total money sent abroad in September 2023 was $3.5 billion — a 30% increase compared to $2.7 billion in the year-ago period.
