HDFC Bank, the country’s largest private lender, has revised interest rates on foreign currency (non-resident) deposits. NEW DELHI: SBI, ICICI Bank and IDFC First Bank have hiked interest rates on foreign currency deposits by non-residents in response to the Reserve

As fears of a global recession rise in an inflationary environment, analysts at Nomura have cut India’s 2023 growth forecast to 4.7% from the previous 5.4% as the company expects growth to slow next year. “Higher inflation, monetary tightening, dormant

The Government has granted Madhulika Bhaskar, General Manager, New India Assurance (NIA), the additional authority of Chairman and Chief Executive Officer (CMD) of the company for a period of three months or until appointed to a regular post with immediate

The Reserve Bank of India (RBI) has appointed Ola Financial Services Pvt. Ltd, for failing to comply with some regulations relating to prepaid payment instruments and know-your-customer (KYC) norms. Ola Financial Services, the fintech subsidiary of ride-hailing company Ola, offers

MUMBAI: The Bank of India’s decision to let importers pay in rupees and exporters pay in rupees should ease trade with Russia and its South Asian neighbors and contribute to a long-term goal of internationalizing the currency, experts said. On

LONDON: Former Kingfisher Airlines boss Vijay Mallya, who has lived in the UK for over five years, expressed disappointment on Monday at the Supreme Court’s ruling that sentenced him to four months in a contempt case. The 66-year-old UK-based businessman

Digital payments giant Paytm hit a new loan origination milestone in the first quarter of fiscal 2022-23, reporting 492% growth in loan disbursements for the quarter. That adds up to total loan value of £5,554 million ($703 million) in the

Huawei Telecommunications (India) has asked the Delhi High Court to amend its April order barring it from repatriating money abroad because it cannot pay foreign suppliers. On April 21, the HC had blocked the company from sending money overseas until

India has tightened scrutiny of China-based companies since 2020, and one of the areas that has come into focus is the role of CAs, or auditors, in setting up shell companies to launder money into China. The Ministry of Corporate

Russian companies have regularly launched chartered ships to ensure supplies of necessary goods, including critical raw materials, to India and China amid post-Ukraine sanctions imposed on Moscow affecting usual supply chains. Chartered container shipping services have been launched between Russia