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Posts tagged Rediff
RBI lifts restrictions on JM Financial (18-10-2024)
JM Financial on Friday said the Reserve Bank of India has lifted restrictions imposed on its subsidiary JM Financial Products Ltd with regard to financing against shares and debentures. “We wish to inform you that the RBI, vide its letter dated October 18, 2024, has lifted the restrictions imposed by it on the company (JM Financial Products Ltd) through its order dated March 5, 2024,” JM Financial said in a regulatory filing.
India’s forex kitty drops $10.75 bn to $690.43 bn (18-10-2024)
Declining for the second straight week, India’s forex reserves dropped $10.75 billion to $690.43 billion for the week ended October 11 in one of the largest decreases in the kitty in recent times, the RBI said on Friday. In the previous reporting week, the reserves had dropped by $3.71 billion to $701.18 billion.
Interest rate cut at this stage could be risky: Das (18-10-2024)
Reserve Bank Governor Shaktikanta Das on Friday said that this stage would have been “premature” and “very very risky” as the retail inflation is still high, and future monetary policy action would depend upon the income data and outlook. Earlier this month, the RBI continued to maintain the status quo in the short-term lending interest rate (repo), citing inflationary concerns, though it changed the monetary policy stance to neutral.
J and K’s 5.9 mn tonne lithium reserve to be re-explored (18-10-2024)
The Ministry of Mines has directed the Geological Survey of India (GSI) to conduct a re-exploration of the 5.9 million tonnes of lithium block in Jammu and Kashmir’s (J and K’s) Reasi district after repeated setbacks to put the reserve up for auction again in six months.
Markets bounce back; Sensex climbs 218 points (18-10-2024)
ICICI Bank, Tata Motors, Tata Steel, NTPC, JSW Steel, State Bank of India and Adani Ports were the other big gainers. Asian Paints, Nestle, Tech Mahindra, HCL Technologies, Hindustan Unilever, Infosys and ITC were the other big laggards.
India vs China: How leading brokerages are positioned (18-10-2024)
The recent stimulus measures announced by China have seen most analysts sit up and take notice.
Navi Finserv, 3 other NBFCs barred from giving loans (18-10-2024)
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers. These four entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance, which provides personal, consumption, and micro, small and medium enterprises loans, and Flipkart co-founder Sachin Bansal’s Navi Finserv, which offers home and personal loans. The ban will take effect on October 21 to “facilitate closure of transactions in the pipeline”, the regulator said in a statement.
Paytm appears poised for rebound (18-10-2024)
While Paytm (One97 Communications) is not completely past regulatory hurdles, its share price has gained in the last month or two. The Paytm handle migration is complete along with FDI clearance necessary for the Payment Aggregator (PA) license. UPI consumer data indicates stable market share, and expansion in partner networks in financial distribution. All this implies Paytm could be set to meet guidance of turning Adjusted Ebitda breakeven by Q4FY25 (ex of UPI-incentives).
Samsung Plant To Resume After 37 Day Strike (18-10-2024)
Employees were told to return to work from Monday onwards for a fresh start for improved production.