Banks (Finance)
The Reserve Bank of India (RBI) is likely to hold interest rates steady in the near term, with inflation moderating to 5.02% in September from 6.83% in August, according to economists. The sharp decline in vegetable prices, particularly tomatoes, has contributed to the easing of inflation pressures. Dr.
Banks (Finance)
The Bank of India has launched an upgraded version of its savings accounts, offering improved benefits and features to its customers, including salaried employees, households, individuals, and youth. The upgraded accounts come with a group personal accident death insurance cover of up to Rs.150 lakh, air accidental insurance of
Banks (Finance)
The Reserve Bank of India's (RBI) six-member Monetary Policy Committee (MPC), led by RBI Governor Shaktikanta Das, has retained the policy stance as "withdrawal of accommodation" in a majority 5:1 decision, keeping the key interest rates unchanged for the fourth consecutive time. The decision was
Banks (Finance)
Bank stocks were among the top losers in Wednesday's trading sessions as foreign funds continued to sell Indian equities. Traders were cautious ahead of the Reserve Bank of India's monetary policy on Friday, which led to a decline in major banking stocks. Despite this, HDFC Bank
Banks (Finance)
In a strategic move to enhance the agriculture sector in Zambia, the European Investment Bank (EIB) and First Capital Bank Limited have partnered to establish a US$10 million developmental line of credit. The partnership aims to address financing gaps within the agricultural segment and accelerate economic growth by providing
Banks (Finance)
Egyptian Minister of International Cooperation, H.E. Dr. Rania Al-Mashat, met with the Vice President of the Export-Import Bank of China, Dr. Zhang Wencai, to discuss joint cooperation in light of the development of Egyptian-Chinese relations. The meeting, held during the 2023 Annual Meetings of the Asian Infrastructure Investment Bank
Banks (Finance)
Fixed mortgage rates may have finally started to fall, thanks to a surprise drop in inflation that has sparked hopes of a longer period of lower rates for homeowners. According to the Office for National Statistics, inflation fell to 6.7pc in March, down from 6.8pc in February, driven
Banks (Finance)
Data from the Bank Bazaar website reveals that as many as 8 banks are offering more interest rates than State Bank of India (SBI) on 5-year tax-saving fixed deposits in September, both for general citizens and senior citizens. While SBI is offering 6.5% interest on tax-saving FDs to general
Banks (Finance)
U.S. Senate Majority Whip Dick Durbin (D-IL) and U.S. Senators Jeff Merkley (D-OR), Richard Blumenthal (D-CT), and Sheldon Whitehouse (D-RI) have introduced legislation aimed at cracking down on predatory lending practices by capping consumer loan interest rates at 36% APR. This move is a response to the widespread
Banks (Finance)
The UK economy took a 0.5 per cent hit in July, with experts attributing the decline to doctors' and teachers' strikes and the wet weather. This setback has raised recession fears, with Goldman Sachs cutting its forecast for UK growth this year from 0.5 per cent
Banks (Finance)
Reserve Bank of India (RBI) Governor Shaktikanta Das has expressed concern over the rising retail inflation rate, which has shot up to a 15-month high of 7.44 per cent in July. Das emphasized the need for policy response if supply shocks persist and spread, highlighting the importance of containing
Banks (Finance)
FinXcelerator, a 45-day accelerator program, has been launched to promote innovation and create an inclusive environment for startups in the financial sector. The program is a collaborative effort between the Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the Reserve Bank of India, Pilani Innovation & Entrepreneurship Development Society
