A negative yield was traded for the first time on India’s sovereign bond trading platform on Friday, traders said, prompting intense speculation about why. The 6.17% bond due 2021 was offered with a negative return of around 1.5%, according to traders who saw the listing on the Clearing Corporation of …
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Lenders from the Dewan Housing Finance Corporation (DHFL) voted overwhelmingly in favor of the resolution plan presented by the Piramal group on Friday, paving the way for a radical turnaround for the bankrupt company. While Piramal’s offer received 94 percent of the votes, the US-based Oaktree Capital plan garnered just …
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NEW DELHI: The closure had devastated P Sunil. The 28-year-old from Telangana lost his job, took out a loan and fell into a debt trap. To pay for this, he took loans from different applications that offer quick loans. Soon, recovery agents they were behind him, texting and calling everyone …
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Finance Minister Nirmala Sitharaman took stock of the progress made under various plans under the three Aatmanirbhar Bharat (ANBP) packages to help reactivate the economy hit by the outbreak of COVID-19 pandemic. Following the Prime Minister’s announcement, Sitharaman presented the details of the Rs 20.97 crore ANBP 1.0 in a …
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India’s record rally in equities will continue into next year, with banks and other stocks taking over as drivers of the country’s largest company, Reliance Industries Ltd., some fund managers say. Confidence has accounted for nearly a fifth of the 75 percent rise in the S&P BSE Sensex since its …
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Shares of financial companies, including banks, non-bank financial companies (NBFCs) and microfinance institutions (MFIs), were in the spotlight amid a rally of up to 20% in BSE in the morning trade of Monday as the Reserve Bank of India (RBI). The internal task force, which reviewed the ownership guidelines, proposed …
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He added that the IBC process has already been suspended since March to prevent companies from going bankrupt. “It will ensure that those who paid during the moratorium are not defrauded,” Mehta said. During the hearing, the bank noted that credit card users should not receive any benefit from the …
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The Indian economy is expected to recover faster than expected and the Reserve Bank has likely reached the end of the rate easing cycle, according to global forecasting firm Oxford Economics. Furthermore, he said that inflation is expected to average significantly above 6 percent in the fourth quarter of the …
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MUMBAI: One rank, one pension (OROP) is in the process for retirees Power supply bank employees. RFMO It was a long-standing lawsuit by veterans of the armed forces, where the pension would be reworked for all who would retire in the same rank You will receive the same pension, regardless …
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Mumbai: Non-bank financial corporations (NBFCs) must either become strictly regulated banks or downsize, according to Rajeshwar Rao, deputy governor in charge of bank regulation and risk tracking at the Reserve Bank of India (RBI). Speaking at an Assocham event, Rao said there can be no “one size fits all” prescription …
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