New Delhi: India's economic and banking systems remain robust, even in the midst of the current turmoil battering global markets, Prime Minister Narendra Modi said on Saturday.
The crisis in Credit Suisse had been brewing since 2021, but the Swiss lender rattled investors on Tuesday by revealing that it had discovered "material weaknesses" in its 2021 and 2022 financial reports. On Wednesday, its stocks tumbled to an all-time low, stoking concerns over the overall heath of the banking sector, especially after the collapse of two banks in the U.S.
Prime Minister Narendra Modi Friday congratulated RBI Governor Shaktikanta Das for receiving the ‘Governor of the year’ award in the Central Banking Awards 2023.
New Delhi/IBNS: The Cabinet Committee on Economic Affairs (CCEA) on Friday approved the listing of IREDA on the stock exchanges through an Initial Public Offer (IPO).
Mumbai: India's foreign exchange reserves dropped to $560 billion in the week ending on March 10, the lowest since the beginning of December, showed Reserve Bank of India's statistical supplement published on Friday.
Bengaluru: Digital payments and financial services company PhonePe has raised an additional $200 million as part of its proposed $1 billion funding round from its largest shareholder, Walmart. The funding was secured at a pre-money valuation of $12 billion.
The National Company Law Tribunal (NCLT) gave its approval for the merger of HDFC and HDFC Bank, which is considered to be the largest merger in corporate history.
Tata Consumer Products (TCPL) said on Friday that it had called off talks with Bisleri International to buy a majority stake in India’s largest bottled water enterprises.
Mumbai: The Reserve Bank of India injected Rs 1.1 trillion into the system on Thursday, marking the largest single-day liquidity infusion since April 24, 2019. This comes amid onset of corporate advance taxes leading to significant outflows from the banking system
SVB Financial Group on Friday said it has applied for court-monitored restructuring under Chapter 11 bankruptcy protection to find potential buyers for its assets, Reuters reported.
Bengaluru: CARS24, an auto-tech company for pre-owned vehicles, on Friday took a giant leap towards driving innovation and growth in the pre-owned vehicle market with the launch of its first Engineering Research and Development Center (R&D Center) in Bengaluru.
New Delhi: Smartphone major itel launches its new Power Series with the contemporary P40 smartphone.
Mumbai/IBNS: Invesco Mutual Fund Thursday announced the launch of two Target Maturity Debt Index Funds – Invesco India Nifty G-sec Jul 2027 Index Fund (An open-ended Target Maturity Index Fund tracking Nifty G-sec Jul 2027 Index.
Mumbai: Sports collectibles and skill gaming company BuyStars Wednesday said it has raised $5 million in pre-series A round led by Indian Gaming and Interactive-focused VC Fund Lumikai, Chiratae and Leo Capital.
Mumbai: The stock exchanges have placed a hold on the shares owned by Patanjali Foods' promoters and promoter entities after they failed to comply with the minimum public shareholding requirement, Moneycontrol reported.
Mumbai/Delhi: The Competition Commission of India has given its nod to Reliance Retail Ventures’ (RRVL’s) acquisition of METRO Cash & Carry India for a cash consideration of Rs 2,850 crore, according to an official statement.
Mumbai: Vedanta Resources Ltd said on Wednesday it prepaid $100 million to Standard Chartered Bank via release of encumbrance on March 10.
Kolkata: A consortium of Ramkrishna Forgings Ltd, one of the leading suppliers of rolled, forged, and machined products, and Titagarh Wagons Ltd has been declared the Lowest Bidder (L1) by the Indian Railways for manufacturing and supplying of forged wheels.
Mumbai: Creating a new paradigm in mass mobility, Honda Motorcycle & Scooter India (HMSI) on Wednesday launched its most affordable and fuel-efficient mass motorcycle – Shine 100 in India.
Jairampur: Twenty-four farmers are participating in mushroom production project at Changlang district of Arunachal Pradesh, media reports said on Wednesday.
Facebook's parent company Meta Platforms Inc. has planned to lay off around 10,000 employees and close about 5,000 additional open roles in its second major round of job cuts in the past six months.
New Delhi: India makes more real time digital transactions than US, China and Europe combined, Anurag Jain, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, said on Tuesday.
Kolkata: To mark the occasion of International Women’s Day, RBL Bank, under its CSR initiative - UMEED 1000, has donated 100 bicycles to underprivileged girl children in Kolkata.
Bengaluru: Talent acquisition and talent management platform, HireMee has been named the ‘Most Promising Assessment Service Provider’ by ArdorComm Media.
New Delhi: India's wholesale inflation dipped to 3.85 percent in the month of February against 4.73 percent recorded in January, official data released on Tuesday revealed.
New Delhi: India's annual retail inflation rate eased marginally to touch 6.44 per cent in February from 6.52 per cent in January, as per data released by the Indian government on Monday.
New York: HSBC Holdings plc announces that its UK ring-fenced subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Limited (SVB UK) for £1 (INR 99).
Mumbai: HMD Global, the home of Nokia phones, oon Monday announces the launch of the Nokia C12 in India.
Washington: Signature Bank, New York, NY, was closed on Sunday by the New York State Department of Financial Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
There will be no bail out for investors of the now-collapsed Silicon Valley Bank (SVB) that recently appeared in Forbes magazine's annual ranking of the best banks in America, for the fifth year in a row, according to media reports.
