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MSEDCL will be split into two entities -- one catering to industrial, commercial and domestic consumers, and another, focused on agricultural consumers The Maharashtra Cabinet on Thursday approved the financial restructuring of Maharashtra State Electricity Distribution Company Ltd (MSEDCL) including its bifurcation and a proposed initial public offering (IPO) of its non-agricultural business. According to the official press release, MSEDCL will be split into two entities -- one catering to in ...Read More >
Mumbai, April 8 (MExN): Bank of Baroda has launched 'bob SAMVAD', an AI-powered multilingual conversational platform aimed at transforming in-branch customer interactions and enhancing inclusive banking services. The platform was formally launched by M Nagaraju, Secretary, Department of Financial Services (DFS), Ministry of Finance, in Mumbai on March 28. Described as an industry-first initiative, bob SAMVAD enables real-time, low-latency, two-way communication across 22 languages, allowing cu ...Read More >
Kolkata, Apr 8 (PTI) West Bengal Chief Minister Mamata Banerjee has declared assets worth Rs 15.37 lakh in her affidavit for the 2026 Assembly polls from Bhabanipur, reflecting a marginal decline from Rs 16.72 lakh disclosed during the elections five years ago. Banerjee, also the Trinamool Congress supremo, also reported no liabilities and no criminal cases, the same as in 2021, according to the affidavit. It shows that the value of her total movable assets stands at Rs 15,37,509.71, down by a ...Read More >
Mumbai, Apr 8 (PTI) Indian scheduled commercial banks' gross non-performing assets (NPAs) ratio declined further to 2 per cent in December 2025, the Reserve Bank said on Wednesday. Gross NPAs -- which represents the proportion of loans unpaid for over 90 days -- for the banking system had stood at 2.5 per cent in the year-ago period, as per the bi-annual Monetary Policy Report released by the central bank. The improvement in asset quality was across sectors, including retail loans, services, i ...Read More >
BENGALURU -- Gold rose to a near three-week high on Wednesday as oil prices and the dollar fell sharply after the United States and Iran agreed to a two-week ceasefire as talks began on a permanent end to the war. Spot gold was up 1.7% at US$4,783.78 per ounce, as of 1123 GMT. Earlier in the session, bullion rose more than 3% to its highest level since March 19. US gold futures for June delivery gained 2.7% to $4,812.60. The United States and Iran have agreed to a two-week ceasefire, subject ...Read More >
Mumbai (Maharashtra) [India], April 8 (ANI): The Reserve Bank of India on Wednesday announced a set of measures aimed at simplifying regulations for banks, improving access to finance for small businesses, and enhancing liquidity in financial markets. In its official statement, the central bank outlined steps to reduce compliance burden for banks while strengthening the overall financial system. Also Read | Sikkim State Lottery Result Today 6 PM Live: Dear Regal Wednesday Lottery Result of Apr ...Read More >
Mumbai (Maharashtra) [India], April 8 (ANI): The Reserve Bank of India on Wednesday announced a set of measures aimed at simplifying regulations for banks, improving access to finance for small businesses, and enhancing liquidity in financial markets. In its official statement, the central bank outlined steps to reduce compliance burden for banks while strengthening the overall financial system. It stated, "Statement on Developmental and Regulatory Policies... This Statement sets out various d ...Read More >
April 8 (Reuters) - Adani Green Energy on Wednesday said group chair Gautam Adani and his nephew Sagar Adani plan to seek dismissal of a civil suit stemming from an alleged bribery scheme filed by the U.S. Securities and Exchange Commission in a New York court by April 30. * The company said that the defendants have submitted apre-motion letter to the court indicating their intent to seekdismissal of the SEC's complaint and said they are willing toattend a pre-motion hearing, if scheduled. * T ...Read More >
The existing Directorate of Information Technology will be upgraded into a Commissionerate for Electronics, Information Technology and Artificial Intelligence, according to an official statement. A dedicated Information Technology cadre will also be established, with permanent posts at the state secretariat, Mantralaya, commissionerate, and district levels, aimed at enhancing IT, AI, and digital governance across the state. The cabinet meeting was chaired by Chief Minister Devendra Fadnavis. ...Read More >
MUMBAI: State-owned power distribution company MSEDCL will be restructured to create a new company to serve its agricultural consumers, a move that will benefit the MSEDCL as well as its industrial and commercial users. The demerger, approved by the state government at its cabinet meeting on Tuesday, will also see the parent company list on the stock exchange and issue bonds worth ₹32,679 crore. This is a milestone for power distribution in the state, and for the Maharashtra State Electricity D ...Read More >
Mumbai (Maharashtra) [India], April 7 (ANI): Bank credit in India is expected to grow around 13 per cent in the current fiscal, slightly slower than the estimated 14 per cent growth in FY26, according to a report by CRISIL Ratings. The report said the growth will be supported mainly by strong demand from the retail and micro, small and medium enterprise (MSME) segments, along with corporates continuing to prefer bank loans over bond issuances. Also Read | Vivo X300 Ultra Review: Flagship Featu ...Read More >
Mumbai (Maharashtra) [India], April 7 (ANI): Bank credit in India is expected to grow around 13 per cent in the current fiscal, slightly slower than the estimated 14 per cent growth in FY26, according to a report by CRISIL Ratings. The report said the growth will be supported mainly by strong demand from the retail and micro, small and medium enterprise (MSME) segments, along with corporates continuing to prefer bank loans over bond issuances. "Bank credit is poised to grow ~13% this fiscal, d ...Read More >
New Delhi [India], April 6 (ANI): The Reserve Bank of India has retained the percentage limits for foreign portfolio investor (FPI) investments in debt markets for the financial year 2026-27, while increasing the overall investment cap in line with the expansion of the bond market. In a circular released on Monday, the RBI stated that the limits for FPI investment under the general route will remain unchanged. It stated, "The limits for FPI investment in Government Securities (G-Secs), State G ...Read More >
Atanu Chakraborty Resignation: A fresh controversy seems to be brewing around HDFC Bank after the resignation of its former part-time chairman and independent director Atanu Chakraborty. The All India Bank Employees' Association (AIBEA) has written to Finance Minister Nirmala Sitharaman, asking for intervention and greater clarity on the circumstances surrounding his exit. What stands out, according to the association, is the reason cited in the resignation letter. Chakraborty referred to cert ...Read More >
New Delhi [India], April 3 (ANI): State governments and Union Territories across the country are expected to raise a total of Rs 2,54,509 crore through market borrowings during the first quarter of the 2026-27 financial year. According to an indicative calendar released by the Reserve Bank of India (RBI) on Thursday, these borrowings will take place between April and June 2026 as part of the states' efforts to manage their financial requirements. The central bank, acting as the debt manager fo ...Read More >
Shri Rajesh Kumar has assumed charge as Director (Finance) at REC Limited on 2nd April 2026. On 25th March 2026, the Appointments Committee of the Cabinet (ACC) approved the proposal from the Ministry of Power for the appointment of Shri Rajesh Kumar as Director (Finance) at REC Limited for a period of five years. Rajesh Kumar is a seasoned finance professional who brings over 30 years of extensive experience in the public sector, specifically in the power and infrastructure financing domains. ...Read More >
Hyderabad: The state government has placed an indent to raise Rs 18,900 crore through the auction of bonds in the first quarter (April-June) of the new fiscal 2026-27, according to data released by the Reserve Bank of India on Friday. The proposed borrowing forms part of the state government's larger plan to mobilise Rs 73,383 crore through market borrowings during the financial year, as outlined in the State Budget that was recently passed by the Assembly. As per the borrowing calendar submitt ...Read More >
Mumbai, Apr 3 (PTI) The Reserve Bank of India's Benchmark Issuance Strategy (BIS) for select states is expected to improve transparency and liquidity in the State Development Loan (SDL) market, say experts. According to market experts, the impact on borrowing costs and yield spreads is likely to be gradual amid the continued heavy supply of state bonds. The central bank has decided to roll out the strategy on a pilot basis from FY27, under which states will issue securities in specific benchma ...Read More >
Mumbai: HDFC Bank, one of India's largest private sector banks, has announced that it will hold a board meeting on April 18. In this meeting, the bank will consider a major plan to raise funds over the next 12 months. The bank is looking to raise money through different types of debt instruments. These may include Perpetual Debt Instruments (AT1 Capital), Tier II bonds, and long-term infrastructure bonds. The fundraising is expected to be done through private placement. This means the bank will ...Read More >
MUMBAI: The rupee recorded its strongest recovery in 13 years, rising 173 paise to close at 93.1 from Tuesday's 94.83, after RBI tightened rules to curb speculative bets and forced a sharp unwinding of dollar positions.However, with a fresh round of US bombing in Iran post market hours, which resulted in global oil prices surging further, dealers are wary of a fresh wave of volatility when forex markets open next week.Thursday's rebound followed a series of regulatory steps aimed at squeezing sh ...Read More >
MUMBAI, April 2 (Reuters) - The Indian rupee is poised to open sharply higher on Thursday after the Reserve Bank of India rolled out a fresh set of measures to clamp down on speculative activity, with traders expecting chunky dollar sales as positions are unwound. The 1-month non-deliverable forward indicated the rupee will open in the 92.65-92.70 range versus the U.S. dollar, having settled at 94.83 on Monday. India's financial markets were shut on Tuesday and Wednesday for local holidays. O ...Read More >
(RTTNews) - Indian shares opened on a strong note Wednesday after U.S. President Trump said the U.S. could end its Iran military campaign within 2-3 weeks, claiming that Washington had already achieved its core objectives of hobbling Iran's nuclear ambitions and bringing a regime change in the country. Asserting that Tehran no longer possessed functional defense infrastructure, Trump claimed that the U.S. "will not have anything to do with" what happens next in the Strait of Hormuz and that oth ...Read More >
New Delhi: Sammaan Capital is preparing to review a potential debt restructuring move, signaling active balance sheet management amid evolving market conditions. The company has called a meeting of its Securities and Investment Committee on April 7, 2026. The primary agenda is to evaluate and potentially approve a buyback of USD-denominated bonds. This internal review marks the first formal step toward executing the proposed transaction, subject to approvals. The proposed buyback suggests a st ...Read More >
Chennai: Aadhav Arjuna, the actor-politician Vijay led TVK's general secretary - election campaign management, has declared moveable and immovable assets worth Rs 197.52 crore, the affidavit filed by him with his nomination papers for the April 23 Assembly polls said. Arjuna is contesting in the Villivakkam Assembly constituency in Chennai on the TVK ticket, and he filed his nomination papers on Monday. As per his affidavit, he has declared moveable assets valued at Rs 180.03 crore in his name, ...Read More >
New Delhi, March 31 (SocialNews.XYZ) As India approaches the new fiscal year FY27, the country's direct tax system is set for a major overhaul from April 1, 2026, with the new Income Tax Act, 2025, coming into force -- replacing the six-decade-old 1961 legislation and introducing changes in compliance, terminology and taxation. Major reform under the new framework is the replacement of the 'Financial Year' (FY) and 'Assessment Year' (AY) with a single 'tax year', which could simplify the filing ...Read More >
Mumbai: Banks believe mark-to-market (MTM) treasury losses are expected to be significantly larger than estimated due to a sharp rise in 10-year yield, which crossed the psychological mark of 7% on Monday - its highest level since 2024. The 10-year yield closed at 7.03% on Monday, the last trading day of this fiscal year, versus its previous close of 6.94%. The money market will be closed on Tuesday due to Mahavir Jayanti. The yield jumped 37 bps in March, the biggest monthly move since Februar ...Read More >
MUMBAI: Former HDFC Bank chairman Atanu Chakraborty, who quit the bank's board on March 18, citing "incongruence" between his values and certain internal practices, has disputed managing director Sashidhar Jagdishan's claim that action against staff over the sale of high-risk bonds to Gulf customers was unrelated to the boardroom dispute.In an interview to CNBC, Chakraborty said, "The incentive structures and the oversight of the management and the board should ensure that they are aligned with ...Read More >
Mumbai, Mar 30 (PTI) Misselling of the AT-1 bonds, which led to a rap from the regulators, and under-performance of the country's largest private sector lender HDFC Bank were the reasons behind his resignation, said former chairman Atanu Chakraborty on Monday. Personal differences with the management are "overblown" and it was not the issue "by a long distance" for the resignation earlier this month, Chakraborty said, stressing that "incongruence" on values and ethics led him to quit the board. ...Read More >
MUMBAI, March 30 (Reuters) - India's HDFC Bank (HDBK.NS), opens new tab delayed taking action against officials involved in the mis-selling of additional tier 1 bonds to investors in Dubai, Atanu Chakraborty, the former chairman of the lender told CNBC-TV18 in an interview broadcast on Monday. Chakraborty abruptly resigned from the bank's board earlier this month, citing differences over "values and ethics" and triggering a stock selloff and a damage control exercise by the lender. HDFC Bank t ...Read More >
MUMBAI, March 30 (Reuters) - Indian bonds tumbled in the fiscal year ending March, snapping a two-year rising streak, as demand weakened and the Middle East war sent oil prices surging, outweighing the impact of record debt purchases and cash infusion by the central bank. Elevated oil prices threaten to raise inflation and widen India's current account deficit, and could force the central bank to start raising policy rates earlier than anticipated. Bonds could extend their losing run in the we ...Read More >
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