RBI imposes monetary penalty of Rs 1 crore on State Bank of India
The Reserve Bank of India (RBI) by an order dated November 16 has imposed a monetary penalty of Rs 1 crore on the State Bank of India for contravention of section 19 (2) of the Banking Regulation Act, 1949 (the Act), informed RBI. As per the press note, the irregularities were identified after a Statutory Inspections for […]
Rupee sinks to record low with stocks as Ukraine crisis boosts oil
The Indian rupee tumbled to a record low along with stocks and bonds as a spike in oil prices spurred by the war in Ukraine threatened to inflate the nation’s oil-import bill and fan inflationary pressures. The rupee declined as much as 1% to 76.9625 per dollar, past its previous low of 76.9088. Benchmark government bond yields rose six […]
Union Bank of India raises Rs 1,500 cr through Basel-III compliant bonds
Union Bank has raised Rs 1,500 crore by issuing Basel III compliant bonds to investors. The bank has allotted unsecured, subordinated, non-convertible, taxable, perpetual, fully paid-up Basel III compliant additional tier-I bonds in the nature of debentures, aggregating to Rs 1,500 crore. The bonds are eligible for inclusion in the tier-I capital of the bank. To comply with Basel-III capital regulations, banks globally need to improve and strengthen […]
Indian investors can trade in select US stocks via NSE IFSC from March 3
From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include […]
Rupee crashes 40 paise to 75.73 against US dollar in early trade
The rupee tumbled 40 paise to 75.33 in early trade on Monday, tracking surge in crude prices amid escalating tensions between Russia and Ukraine. At the interbank forex market, the local currency opened sharply lower against the dollar. It was moving in a tight range of 75.78 and 75.70. In early deals, it was trading at 75.73, […]
Rupee rises by 22 paise to 74.44 against US dollar in early trade
The rupee spurted by 22 paise to 74.44 in early trade on Monday on softer crude oil prices and revived hopes of a diplomatic solution to the Russia-Ukraine crisis. The rupee gained further ground to trade at 74.44 at 1030 hours, supported by benign crude oil prices. Reports suggested that the US and Russia have agreed to hold […]
India, Australia vow to work together for inclusive growth in Indo-Pacific: EAM S Jaishankar
India and Australia have pledged to work together for building more trusted and resilient supply chains and ensuring broad and inclusive growth in the strategic Indo-Pacific region, External Affairs Minister S Jaishankar said in Melbourne on February 12. Speaking at a joint press conference with his Australian counterpart Marise Payne after their bilateral meeting and attending a […]
Zomato to invest $400 million more in quick commerce; will set up a lending biz for restaurants
Online food delivery firm Zomato Ltd on Thursday said its revenue from operations for the December quarter rose from both a year earlier and sequentially, even as its loss shrank. Revenue from operations for the fiscal third quarter rose to Rs 1,112 crore from Rs 1,024.2 crore in the July-September period and Rs 609.4 crore […]
Dalal Street cheers Union Budget as Sensex climbs 848 points, Nifty settles at 17,577
The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended nearly 1.5 per cent higher following a volatile session of trade on the Budget day as market participants reacted positively to the big infrastructure boost in the Budget 2022 delivered by Finance Minister Nirmala Sitharaman. The S&P BSE Sensex rose 848.40 points (1.46 […]
Power consumption grows 2.6% in January
India’s power consumption grew marginally at 2.6 per cent year-on-year in January to 112.67 billion units (BU), showing the impact of local restrictions imposed by states amid the third wave of COVID-19. Power consumption in the entire January last year was 109.76 BU, which was 4.4 per cent higher than 105.15 BU in January 2020, […]
