To mitigate risk, banks, DFIs to seek direct information on financial health of NBFCs’ clients

Move comes in wake of adverse affect on financial system due to defaults in repayments by NBFCs

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India’s forex reserves fall to lowest in more than 23 months

The reserves fell $7.94 billion to $553.1 billion as of September 2, data released by the Reserve Bank of India showed Friday. The reading is the lowest since October 9, 2020.

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Bank of Baroda ups MCLR by up to 15 bps

The benchmark one-year MCLR has been hiked by 10 basis points from 7.70 per cent to 7.80 per cent

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Yes Bank to approve JC Flowers as buyer for its $6bn stressed loan portfolio

Private lender Yes Bank is likely to approve the transfer of stressed assets worth Rs 48,000 crore ($6 billion) to private equity firm J C Flowers at its next board meeting, said a source with direct knowledge.

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LIC is bullish, positive about all things life insurance, says MD Patnaik

Life insurance behemoth not looking to change channel mix; wants customers to choose their preferred channel depending on their comfort levels

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