Banking industry
The Reserve Bank of India (RBI) has announced the interest rates for short-term loans up to Rs 3 lakh through Kisan Credit Cards (KCC) for farmers. The interest rate for farmers availing short-term loans through KCC will be 7% for farmers, with an additional interest subsidy of 3% if they
Banking industry
The Federation of Indian Micro and Small & Medium Enterprises (FISME) has requested the government to set up a joint committee to develop a unique rating model for MSMEs, focusing on solvency. This appeal comes as part of the pre-budget meeting with Finance Minister Nirmala Sitharaman, where industry bodies and
Banking industry
The Reserve Bank of India (RBI) has placed the burden on European Union banks to resolve the impasse caused by the European Securities & Markets Authority's (ESMA) decision to disqualify key Indian institutions, which act as central counterparties (CCPs) in securities, money market, and forex transactions. This move
Banking industry
A sharp decline in the Consumer Price Index (CPI) in October and expectations that prices have reached their peak levels may temper the Reserve Bank of India's (RBI) interest rate hike cycle, despite volatility in local food prices and global interest rates. The CPI for October fell to
Banks (Finance)
Global banking institutions have made minimal efforts to help reduce carbon emissions, with even those that have set targets falling short. According to two recent reports, the Net Zero Banking Alliance, which comprises major banks such as Barclays and HSBC, released a report highlighting that only 50% of its members
Banks (Finance)
The Lake Forest-based auto parts maker, Tenneco, announced that it has cleared the final regulatory hurdles to be acquired by a New York-based private-equity firm, Apollo. However, the banks involved in the syndicate, led by Bank of America and Citigroup, are now on the hook for $5.4 billion in
Banking industry
As the Reserve Bank of India (RBI) increased the repo rate by 50 basis points (bps) to 5.90% in September 2022, several banks and non-banking housing finance companies have mirrored this hike by increasing their home loan rates. This upward trajectory in interest rates has led to a surge
Banking industry
HFCL, a leading telecom equipment manufacturer and technology provider, has been approved to receive an incentive of up to Rs.652.79 crore under the Production Linked Incentive (PLI) scheme. The incentive is aimed at supporting the company's investment of ~Rs.425 crore in the development and manufacture
Banking industry
The International Monetary Fund (IMF) has sounded the alarm on a looming global economic storm, with three powerful events weighing on the world economy: Russia's invasion of Ukraine, an inflationary process, and a slowdown in the Chinese economy. Over a third of the world economy will experience a
Banks (Finance)
Texas Attorney General Ken Paxton has launched an investigation into six major banks, including Bank of America, Wells Fargo, and Goldman Sachs, for potential violations of consumer protection laws. The investigation centers around the banks' participation in the Net-Zero Banking Alliance, a group of financial institutions that have committed
Banks (Finance)
Global blue-chip stocks received a flurry of analyst recommendations this week, with leading financial institutions weighing in on their investment prospects. The reports suggest a mixed bag of upgraded and downgraded recommendations across various sectors, with some notable price target revisions. Key Takeaways: * Goldman Sachs downgraded Rio Tinto's
Banking industry
The Indian equity markets experienced a gloomy start to the week, with the Sensex and Nifty settling below the psychological 58,000 and 17,250 levels, respectively. The markets made a gap-down opening, tracking the weakness in global markets, as investors became apprehensive about the Reserve Bank of India'
