Today's gold prices: If an individual is buying gold jewellery, then they should know the prevailing gold price of 22KT, 18KT or 14KT. This is because these are purity karats used for making gold jewellery. Usually, one cannot buy gold jewellery made of 24 Karat of gold. Read on to know the current gold prices.
Lenders may oppose the draft rules, which proposes provisioning of up to 5% from current 0.4%, due to concerns over rising interest rates and potential disruption to capital expenditure. Banks plan to lobby against the steep increase, arguing it could affect project viability and economic momentum. State-owned NBFCs and infrastructure firms are also raising concerns, emphasizing the need to balance risk and support for infrastructure financing.
The proposed subsidiary will engage in a range of financial activities as a finance company within GIFT, including lending, investment, and other financial services.
Carol Furtado appointed as executive director at Ujjivan Small Finance Bank for three years from May 1, approved by RBI. With 29 years in banking, she played key roles in the bank's development.
The company, which filed preliminary IPO papers with Sebi in October 2023, obtained observations from Sebi on April 22.
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.
Date for interest charging by banks: The Reserve Bank of India did onsite review of banks and other financial institutions to check how lenders are charging interest on loans issued to borrowers. The central bank found four instances where banks were following unfair lending practices. Read on to know more about this and what RBI has asked banks to do.
Tata Group has requested a waiver from the Reserve Bank of India to avoid listing its holding company and non-banking finance firm, Tata Sons, due to revised RBI regulations in October 2021. The conglomerate needs to list by September 2025 to comply with the regulation. Tata Sons is a systemically important investment company that heavily borrows from the banking system.
The NBCC's board discussed the proposal to set up a shadow lender in March, the sources said. The final structure of the NBFC will be decided after June, the second source said. NBCC will seek approval for the shadow bank from the new administration that will be elected in June, at the end of the seven-phase national polls that started on Friday.
The full impact of the Reserve Bank of India's (RBI) increase in risk weights on consumer credit for banks and NBFCs, which was announced in November last year, is also likely to be felt this quarter impacting profitability and growth for small-ticket loans for personal consumption.
Rights equity share for every 9 fully paid-up equity shares held by the eligible equity shareholders of the company, as on the record date, it said, application by existing shareholders can be made between April 30 and May 14. Last month, the RBI barred IIFL Finance Ltd from disbursing gold loans, with immediate effect following multiple supervisory concerns.
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