RBI has moved along expected lines, raising repo rate by 35 basis points, lowering growth expectation and maintaining its 6.7% inflation forecast for the current fiscal year ending March.
Indian government will allow a consortium of foreign funds and investment companies to own over 51% stake in state-owned IDBI Bank.
State Bank of India has put a new feather in its cap by crossing the Rs 5-trillion mark in personal banking advances minus high-value home loans.
If you are in Hyderabad, you can buy gold from an ATM machine; credit for setting up India’s first gold ATM goes to Goldkikka Pvt Ltd.
Duff and Phelps estimates Reliance Capital’s liquidation value at Rs 12,500 crore; RBSA pegs it at Rs 13,200 crore
RBI gives conditional approval to US private equity investors Carlyle Group and Advent International to acquire a combined 20% stake in Yes Bank.
Manufacturing and mining sectors contract; agricultural output and construction sector see expansion.
Acquisition of 12,370,050 equity shares is at Rs 11.43 per share; Yes Bank plans to acquire additional 10% stake in JC Flowers ARC.
Retail digital currency to be distributed through banks; users will be able to transact through digital wallet offered by participating banks and stored on mobile phones/devices.
State Bank of India approves raising Rs 10,000 crore through infrastructure bonds in FY2023; to include green shoe option of Rs 5,000 crore.
Credit growth is broad-based, reflecting pick-up in economic activities; bank deposits stand at 9.8%.
The fundraising step may be seen as a move by banks to issue securities, including infrastructure bonds, to meet rising credit demand and lock in funds at cheaper rates.
Punjab National Bank holds 15.22% stake in UTI AMC worth Rs 1,329 cr at current value; divestment to be made in single or multiple tranches.
Gautam Adani courts sovereign wealth funds to raise $5 bn across his business empire after lenders ask group to reduce leverage.
NBFCs have seen their balance-sheet size more than double to 25% of the banking sector as of March 2022; this was just 12% in fiscal 2010.
