According to an official press release, the RBI stated, “After reviewing the submissions made by the companies, and taking into account their revamped processes, systems, and commitment to maintaining compliance with regulatory guidelines—particularly in ensuring fairness in loan pricing—the Reserve Bank has decided to withdraw the restrictions imposed on both Asirvad Micro Finance Limited and DMI Finance Private Limited.”
According to a report by Bank of America Global Research, the projected GDP growth rate represents the slowest pace since the pandemic, effectively reversing gains made during the recovery. This deceleration is likely to impact consumer confidence, wage growth, corporate revenues, investment, credit demand, and fiscal calculations.
originations by non-banking financial companies (NBFCs)2 was up a modest ~5%. Like-to-like growth (adjusted for volume from a large HFC that merged with a bank) for the nine months this fiscal is in line with the moderation in the assets under management (AUM) growth.
The partnership will enable customers of Tamilnad Mercantile Bank to trade online with Bajaj Broking and access its extensive suite of products and services. The cross-functional platform facilitates fund transfers, minimizes paperwork, and provides a unique tech-driven interface for investing in various products.
The nomination has been made with the approval of the Finance Minister Nirmala Sitharaman, who is the chairperson of the Governing Council, according to a circular issued by the Department of Economic Affairs under the Ministry of Finance
The RBI’s foreign-exchange reserves, which hit a record high of $705 billion in September, slid to an eight-month low of $640 billion as of December 27. The erosion roughly coincided with Donald Trump’s latest presidential election victory. The authority’s forwards book also showed a shortfall of about $60 billion as of November. This means it will have to buy a matching amount to settle maturing contracts or deplete its reserves further.
In terms of geographic distribution, the bonds were well distributed, with 50% in Asia, 32% in EMEA region and 18% in the USA. In terms of distribution to investor types, the bonds were distributed to high quality investors with around 64% distributed to Asset and Fund managers, 18% to Banks, and 16% to Insurance, Pension Funds & Public Sector, followed by private banks and others.
Being incorporated as a non-profit company under section 25 of the Companies Act, K Chittilappilly Foundation operates from its registered office at Kakkanadu, Kochi.
India’s GDP growth is expected to dip to 6.4% in FY25, marking its lowest level in four years, as per
Ind-Ra-Mumbai-7 January 2025: India Ratings and Research (Ind-Ra) has maintained a neutral outlook on the overall banking sector for