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FinMin permits PSUs to invest surplus cash in debt schemes of private MFs

FinMin permits PSUs to invest surplus cash in debt schemes of private MFs

India's finance ministry has liberalised investment norms governing the deployment of surplus cash at state-owned companies, expanding the universe of approved debt plans beyond the current bailiwick of fixed-income investment schemes run...

Banks want investments in FDs up to Rs 5 lakh to be made tax free

Banks want investments in FDs up to Rs 5 lakh to be made tax free

Banks are seeking a level playing field on garnering funds as they believe they are placed at a disadvantage vis-a-vis mutual funds and insurers that offer tax breaks to customers. Ahead of the budget, banks have made representations to the...

RBI could raise repo rate By 35 bps: SBI Report

RBI could raise repo rate By 35 bps: SBI Report

Amid retail inflation showing signs of moderation, the Reserve Bank of India (RBI) may opt for a lower rate increase 35 bps in lending rates at its coming monetary policy review on Wednesday. The repo rate is the rate at which the RBI lends...

Carlyle and Advent gets conditional approval by the RBI to acquire 9.99% stake in Yes Bank.

Carlyle and Advent gets conditional approval  by the RBI to acquire 9.99% stake in Yes Bank.

Private equity investors Carlyle Group and Advent have received conditional approval from the Reserve Bank of India (RBI) to each purchase a 9.99% stake in Yes Bank. Both private equity investors will infuse Rs 8,898.4 crore in combination with...

RBI warns banks against frauds in a/cs linked to direct benefit transfer

RBI warns banks against frauds in a/cs linked to direct benefit transfer

Banks have been warned by the Reserve Bank of India (RBI) against rising incidences of fraud in accounts related to the government's direct benefit transfer (DBT) programme and instructed to increase their vigilance and implement more rigorous...

SBI cards leads HDFC Bank in incremental card issuances

SBI cards leads HDFC Bank in incremental card issuances

In terms of additional card issuances during the holiday month of October, SBI Cards has surpassed HDFC Bank. In terms of new credit card additions in October, HDFC Bank, the nation's segment leader, fell to fourth place with fewer than...

Govt launches scheme to procure 4,500 MW electricity

Govt launches scheme to procure 4,500 MW electricity

The Power Ministry has launched a scheme for procurement of 4,500 MW of aggregate electricity for a period of five years. The provision of procurement of electricity would be conducted under the ministry's Scheme for Harnessing and...

Govt clarifies no PSU norms for IDBI Bank after stake sale

Govt clarifies no PSU norms for IDBI Bank after stake sale

The government has made it clear that after its proposed stake sale, IDBI Bank will not be subject to the regulations that apply to state-run businesses. According to the statement made in response to pre-expression of interest (EoI) questions, it...

Do You Need Car Insurance to Drive Someone Else's Car?

Do You Need Car Insurance to Drive Someone Else's Car?

Not all of us have a car. And the people who do not own a vehicle do not need to spend thousands of dollars on auto insurance policies. Yet, they need to drive a car. Borrowing someone's car works, but what about car insurance? Do you need...

HDFC Bank promotes Kaizad Bharucha as Deputy MD

HDFC Bank promotes Kaizad Bharucha as Deputy MD

Kaizad Bharucha has been named as the deputy managing director, according to HDFC Bank. The bank's executive director at the moment is Bharucha. The bank also announced in an exchange filing that Bhavesh Zaveri has been named executive...

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