6:10 PM
Blogger
According to the Reserve Bank of India, fossil fuels will cease to dominate India's electricity generation by the end of this decade. Renewable energy is projected to surpass 50% of global electricity production. The report highlights the necessity for increased investment in low-carbon energy, aiming for a fully decarbonized global energy system by 2050.
8:10 AM
Blogger
The government is contemplating merging RINL with SAIL as a solution for the financial and operational challenges faced by RINL’s Visakhapatnam steel plant. Other strategies include selling land parcels to NMDC and securing bank loans. High-level discussions have taken place among key officials to explore these options.
10:10 AM
Blogger
The Reserve Bank of India is approaching a crucial interest rate decision with uncertainty looming as the contracts of three external members of its monetary policy committee expire on October 4. The delay in appointing new members could affect policy continuity and market stability, raising concerns among analysts and financial experts.
7:10 AM
Blogger
HDFC Bank has sold a housing loan portfolio of Rs 6,000 crore to several state-controlled banks and car loans worth Rs 9,060 crore via pass-through certificates. This strategic move aims to improve the bank's credit-to-deposit ratio, which has declined as credit growth outstripped deposit growth in recent years.
8:10 PM
Blogger
The Indian government has kept its borrowing goal steady for this financial year, aiming to sell bonds worth Rs 6.61 lakh crore between October and March. This includes issuing green bonds valued at Rs 20,000 crore. The Reserve Bank of India has set a WMA limit of Rs 50,000 crore for the second half of FY 2024-25.
7:10 PM
Blogger
Bandhan Life Insurance has formed a strategic partnership with Bandhan Bank to distribute life insurance products through its 1,700 branches. The company aims to partner with more banks and develop multi-channel distribution strategies. They expect to generate Rs 300 crore in new premium business in the first year and are also targeting microfinance customers.
7:10 PM
Blogger
The Automated Deposit cum Withdrawal Machine (ADWM) is a specialized ATM that allows customers to deposit cash into their accounts using their ATM or debit card.
6:10 PM
Blogger
Latest FD rates: The revised fixed deposit rates by Bank of Baroda, Axis Bank, IndusInd Bank, Federal Bank, and Karnataka Bank cater to both general citizens and senior citizens with tenures from 7 days to 10 years. These changes are effective from early to mid-September 2024.
11:10 AM
Blogger
China's central bank announced significant measures to support economic growth and meet its 5% annual target. Actions include reducing reserve requirements and key policy rates, alongside a package for the troubled property sector. Financial markets responded positively, but analysts remain skeptical about whether these steps will resolve deeper economic issues.
9:10 AM
Blogger
China has rolled out its largest package to date aimed at bolstering the property market, reducing borrowing costs on $5.3 trillion in mortgages and lowering down-payment requirements for second homes. The People's Bank of China will cut mortgage rates by an average of 0.5 percentage points and decrease the minimum down-payment ratio to 15%.
3:10 PM
Blogger
Travelers at several Indian airports are facing lounge access disruptions as Dreamfolks Services Ltd has abruptly suspended its services. Adani Airport Holdings Ltd is working with banks to restore these services quickly. Meanwhile, lounges at Adani-operated airports are accepting major debit and credit cards from other providers. AAHL manages seven airports, soon adding Navi Mumbai International Airport.
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