On January 9, IT giant Tata Consultancy Services Ltd. announced a consolidated net profit of Rs 12,380 crore, a 12% increase over the Rs 11,058 crore it recorded a year earlier. From…
Sensex, Nifty tumble nearly 1 pc on unabated foreign fund outflows
Markets fell further due to foreign fund outflows
Singer Stebin Ben Purchases Duplex Apartment Worth Rs. 6.67 crore in Mumbai: Square Yards
Bandra is renowned for its vibrant culture, luxurious residential developments, and close proximity to Mumbai’s entertainment and commercial hubs, making it a preferred choice for celebrities and business elites. With this purchase, Stebin Ben joins a list of notable personalities, including Rahul Krishna Vaidya, Suniel Shetty, and Janhvi Kapoor, who have also chosen Bandra as their residence.
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.
RBI Lifts Restrictions on Asirvad Micro Finance and DMI Finance
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.”
Are GDP Advance Estimates Indicating a Deeper Slowdown?
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.
Securitisation volume up 27% in nine months of this fiscal, says Crisil
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.
TamilNad Mercantile Bank in pact with Bajaj Broking
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.
Finmin appoints SBI Chairman C S Setty, Uday Kotak as governing council members of NIIF Trustee
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
New RBI chief faces calls to unshackle rupee amid surging dollar
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.