Category: Business News & Economy

IRDAI has expanded insurers’ investment options by permitting investments in private limited companies, infrastructure SPV debt and repo, reverse repo and government securities lending transactions. The changes aim to improve investment flexibility and liquidity while setting exposure caps, eligibility criteria and disclosure requirements. The regulator has also revised limits for investments in promoter group companies.

Punjab National Bank is set to secure a substantial one billion dollars through a five-year loan arrangement. This initiative is being coordinated with international financiers to enhance participation. The loan will be eligible for the Reserve Bank of India’s special swap facility. Indian banks are eager to tap into dollar funds to capitalize on overseas…

Banking credit to industry saw a robust 19% year-on-year increase. Personal loan growth also remained strong, expanding 16% compared to last year. Loans against gold jewellery surged by 93%, leading personal loan segment growth. Vehicle loans followed with a 17% expansion, while credit card growth decelerated. Education loans maintained strong growth at 13% year-on-year.

Banks increased fresh term deposit rates in June, led by private lenders. The average domestic term deposit rate rose to 5.99% for scheduled commercial banks. Private banks saw a significant 27 basis point increase in their deposit rates. Public sector banks also raised rates by 7 basis points. Their average deposit rate remained higher than…

Sebi has concluded legal actions against Religare Enterprises and its former chairperson. The regulator found no further directions were needed after the open offer. Proceedings were initiated alleging Religare failed to cooperate with the mandatory open offer. The company had questioned the Burman Group’s ‘fit and proper’ status and delayed approvals. The open offer’s completion…

Indian equity indices wrapped up July on a high note, achieving their best monthly performance in three months with significant gains. The robust corporate earnings played a critical role in alleviating fears related to rising oil prices. The Nifty and Sensex jumped over 2.5% in the week and nearly 2.1% throughout July.

Sebi has clarified that IDBI Bank can sell unlisted shares privately. These transactions will not be considered public issues by the regulator. This clarification allows for privately negotiated deals with identified buyers. IDBI Bank sought this guidance for its holdings in unlisted companies. The move facilitates secondary transfers of equity shares under specific conditions.

The inclusion of Indian government bonds in Bloomberg’s Global Aggregate Index has been deferred yet again, as the company requires additional evaluation of both operational and market infrastructure components. This setback could lead to an immediate uptick in sovereign bond yields, surprising investors who were hopeful for increased foreign capital inflow. Meanwhile, Indian bonds remain…

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Wall Street closed higher on Friday, driven by Amazon’s strong quarterly report. The tech giant’s results eased concerns about AI infrastructure spending. Apple’s stock dropped after its earnings report failed to meet expectations. Other technology stocks saw mixed performance, influencing market movements. Treasury yields rose as Fed officials discussed inflation concerns.