Category: Business

Business

HDFC AMC allowed to acquire aggregate holding of upto 9.5% each in 5 banks

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HDFC AMC allowed to acquire aggregate holding of upto 9.5% each in 5 banks

HDFC Bank has informed the stock exchanges that its subsidiary HDFC Asset Management Company Ltd has received approvals from the Reserve Bank of India (RBI) via different letters dated September 20, 2023, to acquire “aggregate holding” of up to 9.5% of the paid-up share capital or voting rights in each of the banks namely DCB…

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Business

Markets give up early gains; trade lower

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Markets give up early gains; trade lower

Representational image only. | Photo Credit: Reuters Equity benchmark indices rebounded in early trade on September 22 after a three-day decline but later gave up initial gains to quote in the negative territory. The 30-share BSE Sensex climbed 187.71 points to 66,417.95 in early trade. The Nifty advanced 49.8 points to 19,792.15. But, later both…

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Business

Rupee rises 38 paise to 82.75 against U.S. dollar in early trade

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Rupee rises 38 paise to 82.75 against U.S. dollar in early trade

Image used for representational purpose only. | Photo Credit: Reuters The rupee appreciated by 38 paise to 82.75 against the U.S. dollar in early trade on September 22, as the inclusion of India in the JPMorgan bond index boosted investor sentiment. Forex traders said the decision of JPMorgan Chase & Co to include Indian government…

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JPMorgan To Add India To Its Emerging-Markets Bond Index

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JPMorgan To Add India To Its Emerging-Markets Bond Index

Foreign investors have bought $3.5 billion worth of Indian government debt this year. JPMorgan Chase & Co. will add Indian government bonds to its benchmark emerging-market index, a keenly awaited event that could drive billions of foreign inflows to the nation’s debt market. The decision is the latest sign of India’s growing appeal to international…

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Business

Tracking India’s growth trajectory – The Hindu

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Tracking India’s growth trajectory – The Hindu

For representative purposes. | Photo Credit: Getty Images The conventional way to assess a country’s economic situation is to look at the quarterly (three-month) and annual (12-month) GDP (gross-domestic-product) growth rate and compare it to previous quarters as well as years. In the quarterly release of GDP figures by the NSO (National Statistical Office), the…

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Household Debt Doubles In FY23, Savings More Than Halves To 5.15% Of GDP: SBI Research

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Household Debt Doubles In FY23, Savings More Than Halves To 5.15% Of GDP: SBI Research

According to SBI Research, a good portion of the drawdown from savings have gone to physical assets Mumbai: The net financial savings of households plunged by close to 55 per cent in FY23 to 5.1 per cent of GDP, and their indebtedness more than doubled to Rs 15.6 lakh crore from FY21, primarily led by…

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Business

Markets decline for 3rd day on weak global cues; ICICI bank slumps 2.81%

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Markets decline for 3rd day on weak global cues; ICICI bank slumps 2.81%

share broker reacts as Sensex & Nifty prices plummet. | Photo Credit: ANI Equity benchmark indices Sensex and Nifty buckled under selling pressure for the third straight session to settle nearly 1% lower on Thursday as investors pared exposure to auto, banking and financial shares amid a sluggish trend in global markets. Global equities fell…

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Business

Rupee rises 5 paise to close at 83.06 against U.S. dollar

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Rupee rises 5 paise to close at 83.06 against U.S. dollar

Image used for representational purpose only. | Photo Credit: PTI The rupee consolidated in a narrow range and settled 5 paise higher at 83.06 (provisional) against the U.S. dollar on September 21 as crude oil price receded from its elevated level. The rupee was also weighed down by a rising dollar index, following hawkish comments…

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Business

DGCA suspends approval of Air India’s Flight Safety Chief for one month for certain lapses

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DGCA suspends approval of Air India’s Flight Safety Chief for one month for certain lapses

A pedestrian walks past the Air India building in Mumbai. File | Photo Credit: AFP Aviation watchdog Directorate General of Civil Aviation (DGCA) on September 21 said it has suspended the approval of Air India’s Flight Safety Chief for one month for certain lapses. On July 25 and 26, the regulator’s team carried out the…

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