Finance

IDR: SEBI comes out with shareholding disclosure format

New Delhi: Listed companies issuing Indian Depository Receipt (IDR) will have to make disclosures about details of such shareholding within 15 days at the end of every quarter in a format specified, said SEBI. The disclosures need to be made in a format specified by the markets regulator. IDRs are instruments denominated in rupees which allow overseas companies to raise ... Read More »

Bank of Baroda cuts bulk deposits rates by upto 0.60%

New Delhi: Public-sector lender Bank of Baroda (BOB) has trimmed rate of interest, payable on bulk deposits of Rs 1 crore and above across maturities, by 0.25-0.60 percent. “It has been decided to revise the rates of interest payable on domestic term deposits including NRE across maturities for Rs 1 crore and above,” the bank said in a regulatory filing. ... Read More »

Rupee rises 15 paise at 65.49 against USD

Mumbai: Snapping its two-day losing streak, the rupee recovered by 15 paise at 65.49 against the US dollar Wednesday on fresh selling of the American currency by banks and exporters despite a higher greenback in overseas markets. The domestic currency opened higher at 65.56 as against yesterday’s closing level of 65.64 at the Interbank Foreign Exchange (Forex) market and firmed ... Read More »

Bank of Baroda scam: DRI tells FIU to red-flag multiple forex transactions

New Delhi: The Financial Intelligence Unit (FIU) has been asked to widen parameters for generating red-flag indicators by including multiple transactions of smaller amounts to check fraudulent forex remittance. At present, FIU generates a Suspicious Transaction Report (STR) on a transaction of Rs 10 lakh and above, believed to be proceeds of black money. The move comes amid a multi-agency ... Read More »

Sensex back in red, fails to latch on to gains

The benchmark BSE Sensex slipped into the red Wednesday after a day’s breather, as it dropped over 37 points to 26,552.92 — its seventh fall in last eight sessions — as traders booked profits despite a firming trend in Asia. Sentiment was hit by muted earnings by some blue-chips so far and sustained capital outflows by foreign funds, brokers said. ... Read More »

Sensex surges 207 points; Nifty recaptures 8,100-mark

Mumbai: The BSE Sensex climbed over 207 points to trade at 26,797.79 and the NSENifty recaptured the 8,100-mark in early trade today, with increased buying by participants leading to across-the-board gains amid positive Asian cues. Also read: Rupee claws back 11 paise to 65.53 in early trade Rising for the second day, the 30-share index advanced by 207.20 points, or ... Read More »

RBI fixes gold bonds issue price at Rs 2,684 per gram

New Delhi: Reserve Bank has fixed the public issue price at Rs 2,684 per gram for the sovereign gold bonds, for which applications will be accepted from November 5 to 20. Aimed at providing an alternative to buying physical gold, the gold bond scheme will offer investors an interest rate of 2.75 percent and a choice to buy bonds worth ... Read More »

Rupee ends 5 paise lower at 65.64 against USD

Mumbai: The rupee declined by 5 paise to close at one-month low of 65.64 against the US dollar¬† on fag-end demand for the American currency from banks amidst sustained foreign capital outflows. The local unit opened higher at 65.48 against yesterday’s level of 65.59 at the Interbank Foreign Exchange (Forex) market and firmed up further to a high of 65.41 ... Read More »

Sensex snaps 6-day losing streak, ends 31 points higher

Mumbai: Market on Tuesday ended a six-session losing spree as it recovered from over a four-week low and notched up gains by over 31 points in a choppy trade on the back of value-buying in blue-chips. Higher Asian shares offered positive cues, but worries over weak quarterly results remained. Mood brightened after core sector growth rose to a 4-month high ... Read More »

Banks’ non-performing loans to subside, green shoots visible: Fitch

New Delhi:¬†Fitch Ratings today said the growth in non-performing loans (NPLs) of the Indian banking system will slow down in the current fiscal and some green shoots are visible with regard to their asset quality. “Fitch Ratings expects Indian banks’ stressed asset ratio to improve marginally to 10.9 per cent in the current fiscal from 11.1 per cent in FY ... Read More »