Planning a bank visit this week? You might want to check your city’s bank holiday list first! Bank holidays in India often vary from state to state, depending on the event, occasion and regional festivals. With no single uniform calendar followed across the country, your bank trip might be wasted in case the day turns…
Asian markets opened on a stronger note on Tuesday lifted by lower oil prices and hopes of US-Iran talks. US dollar reflected cautious optimism over renewed diplomatic efforts between Washington and Tehran, even after a breakdown in weekend peace talks.In Seoul, financial markets reacted positively to the prospect of a deal. The benchmark KOSPI surged…
MUMBAI: RBI deputy governor Swaminathan J said AI deployment must ensure human accountability, explainable decisions and inclusion, as Reserve Bank of India outlined a framework to balance innovation with accountability in the financial sector. Delivering the V Narayanan Memorial Lecture at SASTRA University, Swaminathan J said AI is rapidly reshaping finance across customer service, credit…
Oil prices eased below the $100 per barrel mark on Tuesday on hopes of easing United States–Iran talks aimed at ending the ongoing war. The news provided some relief amid fears over supply disruptions due to the Strait of Hormuz blockade.Brent crude futures slipped $1.86, or 1.87%, to $97.50, while US West Texas Intermediate (WTI)…
Emkay Global Financial Services has initiated its coverage of Avenue Supermart (D-Mart) with a sell rating and the target price at Rs 3,700. Analysts said the stock, trading at 70x forward price-to-earnings (P/E) ratio prices in a business D-Mart needs to become, not what it is. Quick commerce players are now only 4-13% pricier than…
NEW DELHI: The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Videocon’s former chairman and MD Venugopal Dhoot for defaulting on loans of Rs 6,158 crore, as a personal guarantor of two group companies.Admitting a plea from State Bank of India (SBI), NCLT said Venugopal Dhoot has “committed defaults in repayment…
MUMBAI: Life Insurance Corporation of India on Monday approved a 1:1 bonus share issue, a move that will double its paid-up equity capital and is expected to improve stock liquidity and retail participation, while leaving its financial strength unchanged. The board, at its meeting on April 13, cleared the bonus on a record date to…
MUMBAI: The Reserve Bank of India (RBI) continues to classify Tata Sons as a core investment company (CIC) in the upper layer, according to its latest NBFC list released on April 10, keeping the Tata Group‘s holding company within the ambit of potential listing requirements. In FY24, Tata Sons applied to the RBI to voluntarily…
MUMBAI: Nadir Godrej will step down as chair of Godrej Industries Group (GIG) on Aug 13 upon turning 75, moving to chairman emeritus. His nephew, Pirojsha Godrej (46), will take over as GIG chair in a planned generational transition. Valued at $20 billion, GIG spans FMCG, real estate, financial services, agriculture, and chemicals. It is…
Domestic stock exchanges NSE and BSE will remain closed for trading on Tuesday, April 14, on account of Dr Baba Saheb Ambedkar Jayanti, with activity across commodity markets also partially impacted.Equity markets, NSE and BSE, will remain closed for the entire day, halting trading in stocks, derivatives and equities-linked segments.Commodity markets will see a split…