Rupee falls to record low to 86.70 against US dollar
The Indian rupee logged its steepest single-day fall in nearly two years and ended the session 66 paise down at its historic low of 86.70 against the US dollar on Monday, weighed down by a stronger American currency and surging crude oil prices.
IDBI Bank employees meet political parties to pitch against privatisation
The bank has booked profits consistently for the last four Financial Years i.e., Rs.1,359 cr. 2020-21; Rs.2,439 cr. 2021-22; Rs.3,645 cr. 202223 and Rs.5,634 cr. 2023-24 and is likely to end up with Rs.7,000 cr. profit during the current Financial Year (2024-25). Gross NPA and Net NPA of IDBI have gone down historically low to 3.68% and 0.20% respectively and provision coverage ratio to 99.42%.
RBI on a spelling spree to support Rupee, say traders
The US dollar surged on expectations that the Federal Reserve will not cut rates by much this year, Reuters reported quoting traders.
Finmin to meet bank chiefs on Jan 15 to review financial inclusion schemes
The Finance Ministry is set to meet the chiefs of Public Sector Banks (PSBs) on Wednesday to review thier performance including the progress of various...
IBBI mandates eBKray auction platform to sell assets under liquidation
NEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) has mandated the exclusive use of the eBKray auction platform to sell assets under the...
Adv. Pralhad Kokare elected as Chairman andCA. Yashwant Kasar as Vice Chairman of Cosmos Bank
Returning Officer Mr. Sanjay Raut in
the Board Meeting of the newly elected Board Members. Both were elected unanimously.
FinMin Meeting: MFIs Push for Relaxation in Asset Qualification Norms
Representatives of microfinance institutions (MFIs) urged the Ministry of Finance on Wednesday to revisit the Reserve Bank of India’s (RBI) updated asset qualification norms. The...
IDFC FIRST Bank goes live on Direct Tax Collection System of CBDT
The Bank’s customers can use the user-friendly Retail and Corporate Internet Banking platforms of IDFC FIRST Bank, or pay the taxes at any IDFC FIRST Bank branch using Cash, Cheque or Demand Draft.
Budget 2025: Tax simplification, capex push and private investment likely, says EY India
EY anticipates significant reforms to simplify the tax system and improve taxpayer services, reduce litigation, and enhance tax compliance. Key suggestions include:
Govt to soon launch new credit guarantee scheme for MSME sector up to Rs 100 cr
Financial Services Secretary M Nagaraju on Thursday said the government would soon launch a new credit guarantee scheme for the MSME sector covering loans up to Rs 100 crore.