RBI directs banks to restrict capital market exposure
The RBI's move comes in response to changes in the settlement cycle introduced by stock exchanges, shifting from T+2 to T+1 rolling settlement for equities.
The RBI's move comes in response to changes in the settlement cycle introduced by stock exchanges, shifting from T+2 to T+1 rolling settlement for equities.
According to the latest Economic Outlook from the OECD, India's GDP is estimated to have expanded by 7.8 percent in the recently concluded financial year 2023-24, with forecasts indicating growth rates of around 6.6 percent for each of the subsequent two fiscal years. However, global near-term developments present challenges to achieving higher growth.
ICICI Bank has categorically denied that Sandeep Bakshi, its MD and CEO, has indicated that he wanted to be relieved from his role, as reported by a news portal.
A key emphasis of the Indian government has been on ensuring that the benefits of UPI are not limited to India only; other countries, too, benefit from it. So far, Sri Lanka, Mauritius, France, UAE, and Singapore, among others, have partnered or intending to partner with India on emerging fintech and payment solutions.
Pune (Maharashtra) [India], The Board of Directors of Poonawalla Fincorp Limited, a non-deposit taking systemically important NBFC focusing on consumer and MSME finance, today announced its audited financial results for the quarter and year ended March 31, 2024.
In contrast to a cautious assessment of the global scenario, the Indian economy continues to exhibit strong economic performance with broad-based growth across sectors, the Ministry of Finance asserted.
The Reserve Bank of India (RBI) has set out certain provisions fulfilling which Small Finance Banks (SFBs) can voluntarily convert themselves into Universal Banks.
Mumbai (Maharashtra) [India], HDFC Life, one of India's leading insurers, and Peerless Financial Products Distribution Ltd. (PFPDL) have entered into a corporate agency tie-up. This partnership would enable PFPDL to distribute life insurance products of HDFC Life to its customers.
Ahmedabad (Gujarat) [India], The Board of Directors of MAS Financial Services Limited (MAS Financial) (BSE: 540749, NSE: MASFIN), specialized in MSME financing, announced today the audited financial results for the quarter ended 31st March 2024.
A financial fraud has been detected at the North East branch of Mahindra & Mahindra Financial Services during the end of the fourth quarter of the financial year ended March 31, 2024, the company informed the exchange in its filing on Monday.
The report further says that intermediaries too don't take much interest in selling a pure risk term policy. Since the term of a pure risk policy is longer, consumers tend to be more sensitive to premium amount and apply to multiple insurers before making a purchase. So for the intermediaries conversion from prospect to sale is lower.