‘1 in 5 Indians with over Rs 5 crore assets plans to move abroad’

One in five ultra-wealthy Indians with net worth over Rs 25 crore consider settling abroad for better investment and tax advantages, according to Kotak Mahindra Bank’s survey. A significant number are acquiring overseas real estate and diversifying portfolios globally. Succession planning and healthcare spending are rising priorities, driven by the pandemic. Education and collectibles also see increased interest. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World...

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Rupee jumps 3 paise to close at 85.69 against US dollar

The Indian rupee rose by 3 paise to 85.69 against the US dollar, supported by increased foreign fund inflows. Despite initial setbacks, it managed to close higher, buoyed by foreign banks and exporters. The rupee opened at 85.71 and fluctuated throughout the day, facing pressures from liquidity constraints and month-end dollar demand from importers. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4swkt...

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UPI users take note! New mobile number verification rules from April 1, 2025 for banks and UPI apps

Banks and UPI applications must conduct weekly updates of their mobile number records to prevent errors from recycled or modified numbers. Applications must obtain explicit user permission before assigning or updating numeric UPI IDs. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6b7LC...

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Unclaimed deposits over Rs 78,000 crore! New simplified process for account holders, nominees soon to retrieve money

Banks in India are set to introduce a new format to help recover unclaimed deposits worth over ₹78,213 crore. The new guidelines will require banks to display unclaimed deposit details online and streamline the reclaim process, making it fully operational by FY26. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MICdV...

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Top stocks to buy today: Stock recommendations for March 25, 2025

Stock market recommendations: RBL Bank and ACC are recommended stocks to buy today by Somil Mehta of Mirae Asset Sharekhan. RBL Bank is anticipated to retrace to Rs 205, while ACC is expected to rebound to Rs 2185. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/gYiDv...

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Are your bank deposits insured if bank fails? Up to Rs 5 lakh deposit insurance scheme explained

Bank depositors are covered by the DICGC's insurance scheme up to Rs 5 lakh per account. Strategically distributing deposits across various banks can enhance coverage, as personal accounts, business accounts, and different joint arrangements are treated separately. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/87EbH...

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Rupee recovers 2025 losses, surges 31 paise to close at 85.67 against US dollar

The Indian rupee continued to strengthen for the seventh straight session, closing at 85.67 against the US dollar. Positive domestic equity trends, foreign capital inflows, and lower crude prices contributed to the gain, erasing all 2025 losses. The rupee has appreciated by 154 paise, with support from foreign banks and exporters. The BSE Sensex surged 1.40%, and Nifty advanced 1.32%. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift....

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Bank strike: Are banks closed on March 24, 2025 and March 25, 2025 for nationwide bank strike?

Bank unions have postponed their nationwide strike planned for March 24 and 25 after receiving constructive assurances from the Indian Banks' Association and the Finance Ministry. The key demands included a five-day workweek, with further discussions on other issues scheduled for April 22. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/87zQR...

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Market cap of nine of top-10 firms jumps by Rs 3 lakh crore; ICICI Bank, Airtel lead gains

The combined market value of nine out of India's top ten most-valued firms grew by Rs 3,06,243.74 crore last week, with ICICI Bank and Bharti Airtel achieving the most significant gains. This surge was driven by a strong rally in equities, as the BSE Sensex and NSE Nifty rose significantly. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/AVP2J...

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March 2025 bank holidays: Are banks closed on Saturday, March 22, 2025?

Banks in India will be closed on March 22, 2025, as it is the fourth Saturday of the month. Additionally, banks in Jammu and Srinagar will be closed on March 27 and March 28 for Shab-I-Qadr and Jumat-ul-Vida, respectively. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/EDUcP...

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Top stocks to buy today: Stock recommendations for March 21, 2025

Stock market recommendations: Bajaj Broking Research recommends Zydus Lifesciences and National Aluminium stocks for today. It expects Nifty to move towards 23,500 levels and sees Bank Nifty heading to 50,600. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/mphES...

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Savings moving to market-linked financial products expose households to significant risks, warns Finance Ministry

The Finance Ministry has informed the Parliament about the risks tied to households moving deposits to market-linked instruments, highlighting potential financial losses and liquidity issues for banks. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/04EYL...

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Top stocks to buy today: Stock recommendations for March 20, 2025

Top stock market recommendations: Aakash K Hindocha from Nuvama Professional Clients Group recommends buying LIC Housing Finance, Bank of Baroda, and UPL due to their recent breakout patterns and bullish momentum. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VCI5j...

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KPI Green Energy secures Rs 272 crore loan for Gujarat hybrid power project

KPI Green Energy has secured a Rs 272 crore loan from the National Bank for Financing Infrastructure and Development (NaBFID) to partly fund its 50 MW hybrid power project in Bharuch, Gujarat. The project, comprising 75.2 MWp solar and 16.95 MW wind capacity, will operate under a 25-year Power Purchase Agreement with Gujarat Urja Vikas Nigam Limited. The funding will help ensure the project’s timely completion. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World...

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Stop masking complaints as requests: RBI governor to banks

from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/OaXzm...

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IndusInd may have inflated its interest income: Reports

IndusInd Bank faces a significant financial impact as it addresses discrepancies in its foreign exchange derivative portfolio, leading to overstated net interest income. The bank's credibility is questioned, prompting swift action to rectify financials and appoint a new successor to restore investor confidence. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/kEdTh...

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IHFL, DB promoters get relief in DHFL-Yes Bank loan fraud case

The special court rejected the CBI chargesheet against Indiabulls Housing Finance Ltd and others in the Rs 4,733 crore DHFL-Yes Bank loan fraud case, citing insufficient evidence. The court also cancelled lookout circulars for several involved individuals and noted the lack of proof against DB Realty promoters and their associate firms. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MAs5q...

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IndusInd bank well-capitalised; no need for depositors to worry: RBI

The Reserve Bank of India confirmed IndusInd Bank's strong financial parameters and robust health amid reported discrepancies. IndusInd Bank is implementing remedial measures and undergoing an external audit. Despite leadership changes and internal process issues, the bank remains financially stable. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yuV38...

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ICAI may review fin statements of IndusInd

ICAI may review IndusInd Bank's financial statements after the bank disclosed a Rs 2,100 crore discrepancy in its derivatives portfolio. This issue could impact 2.35% of the bank's net worth by December 2024, as per the bank's internal review. ICAI's Financial Reporting Review Board is expected to assess compliance with accounting and auditing standards. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Mrk0w...

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Is Warren Buffett about to make his next big move?

Warren Buffett's strategic move of reducing Apple and Bank of America holdings and amassing cash has paid off, as market conditions worsen. Berkshire Hathaway's cash reserves doubled to $334 billion in 2024, underscoring Buffett's cautious approach amid high US Treasury yields and market volatility. Time will reveal if this strategy leads to significant gains. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CEZHl...

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ICAI may review financial statements of IndusInd Bank amid accounting discrepancies

The ICAI may review IndusInd Bank's financial statements due to accounting discrepancies estimated at Rs 2,100 crore. The discrepancies, noted in the derivatives portfolio, could impact 2.35% of the bank's net worth. ICAI's FRRB will assess compliance with various standards and regulations. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/d3Dg1...

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Banks told to gear up for green tech credit risks

RBI governor Sanjay Malhotra urged banks to enhance their risk management frameworks for green technologies at a seminar in New Delhi. He emphasized the need for financial institutions to prepare for climate-related risks and highlighted RBI's efforts, including stress testing and developing new data systems. Malhotra also called for greater collaboration and further initiatives to support sustainable finance. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business...

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Bank Holidays for Holi 2025: Are banks closed on March 13, 14 and 15? Check state-wise holiday list

Banks in various states will observe closures on March 13 and 14, 2025, due to Holi celebrations as per RBI guidelines. Physical branches will be closed, but digital banking services, including UPI payments and ATM operations, will remain available. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XJzOl...

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Top stocks to buy today: Stock recommendations for March 13, 2025

Top stock market recommendations: Aakash K Hindocha of Nuvama Professional Clients Group recommends buying DLF, SRF, and Adani Ports. Nifty is poised for an upward journey towards 22800+, while Bank Nifty faces bearish pressures. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cHl5L...

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IndusInd Bank shares inch up after 27% dive

from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/u3YVL...

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IndusInd Bank shares plunge 27%, erase Rs 19,000 crore in market value

IndusInd Bank shares dropped 27% to Rs 656, erasing Rs 19,000 crore in market value due to a Rs 2,100 crore derivatives accounting discrepancy. The bank's net worth decreased by 2.4%. Concerns about governance and risk management led to investor worry, affecting other small private banks like Bandhan Bank and RBL. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZkdAU...

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Explainer: Why IndusInd Bank lost 16000 crore market-cap in 2 hours, what's next for investors?

IndusInd Bank shares plunged 25%, marking a 52-week low after the bank revealed accounting discrepancies in its derivatives portfolio. This triggered investor panic, leading to a severe drop in stock value. The bank faces potential financial repercussions of up to ₹2,000 crore, raising concerns over weak governance and internal controls, affecting overall banking sector confidence. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/...

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IndusInd Bank shares crash to 52-week low! Brokerages downgrade stock outlook - here’s what investors should know

IndusInd Bank's shares plummeted 20% to a 52-week low of Rs 720.50 due to discovered accounting irregularities in its forex derivatives portfolio. Several brokerages downgraded their ratings, highlighting concerns over corporate governance and future earnings. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/psfiR...

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Net worth may take a hit of around Rs 1,530 crore: IndusInd Bank

IndusInd Bank has identified valuation losses in its forex derivative contracts that could impact its net worth by up to 2.4%, or around Rs 1,530 crore. The bank has assured that the losses pertain to FY24 and earlier, and they are working with an external adviser to review and address these discrepancies. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MbpaW...

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IndusInd Bank says net worth to take 2.35% hit due to account discrepancies

IndusInd Bank anticipates a 2.35% drop in net worth by December 2024 due to internal account discrepancies. Despite this, the bank remains confident about its profitability and capital adequacy. Meanwhile, shares fell following the RBI's decision to grant CEO Sumant Kathpalia a one-year extension instead of the proposed three years. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3Y9uT...

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Highest FD rates up to 9%: Which small finance banks are offering good fixed deposit interest rates? Check list

Several small finance banks offer competitive fixed deposit rates, with some reaching up to 9%. Deposits are protected by DICGC insurance up to Rs 5 lakh, encouraging cautious investment within this limit. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/QKpbD...

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TCS, SBI lead 2.1 lakh cr surge in top 10 companies' m-cap this week; what lies ahead?

Seven of India's top ten valued companies saw their market value grow by Rs 2,10,254.96 crore due to a positive stock market trend last week. Tata Consultancy Services and State Bank of India were among the biggest gainers. Some companies like HDFC Bank experienced declines. Key global factors and economic data will influence market direction in the coming weeks. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/umY1v...

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Banks must continue to innovate & transform: FM Sitharaman

from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/QLweb...

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RBI OKs 1-year extension for IndusInd CEO, not 3 years as sought

The Reserve Bank of India approved a one-year reappointment of Sumant Kathpalia as MD and CEO of IndusInd Bank, effective March 2025, reducing the tenure initially proposed by the board. Kathpalia, with 37 years of experience, has led initiatives in balance sheet strengthening, digital transformation, and governance improvements. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jb3vI...

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National Savings Certificate vs Bank Fixed Deposits: Tax benefits, interest calculation & TDS compared

The National Savings Certificate (NSC) and bank tax-saving Fixed Deposits (FDs) are popular investment options offering guaranteed returns and tax benefits under Section 80C. NSC provides an annual interest rate of 7.7% with yearly compounding, while leading banks offer FDs with rates between 6.5% and 8% annually. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rzdG6...

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Top stocks to buy today: Stock recommendations for March 7, 2025

Stock market recommendations: Adani Ports and Axis Bank are top stock picks, as per Bajaj Broking Research. Nifty's expected to extend a pullback towards 22,800, while Bank Nifty consolidates in the range of 47,800-50,500. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VQZ8r...

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European central bank cuts interest rates amid looming trade war, growth concern

The European Central Bank has cut interest rates by 25 basis points to 2.5% to boost economic activity in the eurozone. Amid low inflation and stagnant growth, the ECB aims to ease borrowing costs for consumers and businesses. Increased defence spending and potential US trade tariffs add uncertainty to future economic outlook. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MqLdm...

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Buy calls for today: Stock recommendations for March 6, 2025

Top stock market recommendations: Aakash K Hindocha from Nuvama suggests buying Indigo, Jindal Steel, and Medanta. Nifty shows signs of recovery after 10 days of decline with support, while Bank Nifty also indicates potential upside. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2yaNH...

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Top 5 Bank Fixed Deposits: Check best FDs for 1, 2, 3 and 5-year time period - here's how much Rs 10,000 will grow to

Top Bank Fixed Deposits: With the RBI's recent repo rate cut and the likelihood of another cut in April 2025, fixed deposit interest rates might decline. Currently, elevated interest rates offer a favourable period for risk-averse investors. Evaluation of interest rates and conditions across banks is essential for optimal FD investments. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Qu91D...

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RBI takes note! How overseas students are being used by wealthy parents to stash money abroad

The RBI is scrutinizing the use of a 2003 foreign exchange regulation granting NRI status to Indian students abroad, aimed at tax and fund transfer benefits. The central bank considers refining guidelines to differentiate between legitimate students and those exploiting the policy transfers. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xdpEY...

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Top stocks to buy: Stock recommendations for the week starting March 3, 2025

Stock market recommendations: Motilal Oswal Financial Services Ltd recommends HDFC Bank and Max Healthcare for this week. HDFC Bank is set to benefit from RBI's new policies Max Healthcare shows significant Q3 performance with a 34.9% revenue increase. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/twxy4...

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India's economy set for Q4FY25 boost with increased government spending and capex: UBI report

India's economy is expected to see a boost in Q4FY25, supported by a sustained increase in government spending and capital expenditure (Capex), alongside a pickup in consumption driven by the Maha-Kumbh and wedding season, according to a report by Union Bank of India. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/GkQH0...

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March 2025 bank holidays: On which days are banks closed in March? Check state-wise list

Bank holidays in March 2025 will affect various cities and states due to regional festivals and observances. Customers should plan financial transactions in advance as banks will be closed on specific dates, but ATMs, mobile banking, and internet banking services will remain available. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rJOW2...

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RBI relaxes rules for micro credit, non-bank lenders

The RBI has eased restrictions on lending to non-bank finance companies and microfinance institutions by lowering risk weights for bank credit. This move aims to boost lending capacity and support economic growth, reversing the slowdown observed after previous regulatory measures. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/y0mko...

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Bank Holiday for Mahashivratri 2025: Are banks closed on February 26, 2025 ? Check state-wise holiday list

Bank Holiday for Mahashivratri 2025: Banks in several Indian states including Gujarat, Maharashtra, and Karnataka will be closed on February 26, 2025, for Mahashivratri. Customers should verify their local schedule and use online banking services for essential transactions. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8kFd2...

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South Korea cuts growth outlook, interest rates amid tariff fears

South Korea's central bank on Tuesday slashed interest rates and its annual growth forecast as it looks to bolster the economy in the face of US tariffs and amid the fallout from President Yoon Suk Yeol's brief declaration of martial law last year. The economy grew less than expected in the final three months of 2024 as Yoon's martial law move hit consumer confidence and domestic demand. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://i...

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'RBI's loan prepay fee ban to hit NBFCs more than banks'

RBI's proposal to remove foreclosure charges on loans up to Rs 7.5 crore could significantly impact PNB Housing Finance and Aditya Birla Capital, with 27% and 26% of their assets in floating-rate loans, respectively. Banks like Axis, IndusInd, and Kotak Mahindra may also face higher impacts. This move is expected to increase competition and reduce profitability in retail loans, benefiting better-rated NBFCs. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business...

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Bank of Maharashtra slashes rate by 25bps

from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jQ4DV...

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RBI imposes Rs 46 lakh penalty on three firms for non compliace

The Reserve Bank of India (RBI) fined Citibank NA, JM Financial, and Asirvad Micro Finance for regulatory non-compliance. Citibank was penalized Rs 39 lakh for credit data breaches, JM Financial fined Rs 1.5 lakh for non-disclosure of interest rate rationale, and Asirvad Micro Finance fined Rs 6.2 lakh for failing to report borrower income and other omissions. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/H4Dpv...

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Bank credit and deposit growth tumbles down in third quarter of FY25: RBI

Bank credit and deposit growth in India slowed in the October-December quarter of 2024. Notably, personal loans and credit to key sectors saw a decline, while public sector lending picked up. Term deposits grew significantly, driven by higher interest rates and large-value deposits. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/KW2Ac...

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NSDL aims to launch Rs 3,000-crore IPO by next month: Official

NSDL aims to launch its Rs 3,000-crore IPO by next month, racing against a nearing deadline for approvals. The IPO, set to expire in September, sees support from NSE, SBI, and HDFC Bank offloading their shares. Despite market volatility, NSDL reports a 30% increase in net profit for the December quarter, signaling strong financial performance. from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hoTbr...

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