RBI’s Strategic Move to Strengthen Foreign Exchange Reserves In a notable economic development, the Reserve Bank of India (RBI) has significantly increased its gold reserves by purchasing 57.5 tonnes during the fiscal year 2024–25. This move demonstrates India’s continued strategy to diversify its foreign exchange (forex) reserves amid global economic uncertainties and inflationary pressures. As…
Reliance Capital’s Acquisition by Hinduja Group’s IIHL Receives IRDAI Approval Reliance Capital, a prominent player in the financial services sector, is set to undergo a significant transition as the acquisition proposal by Hinduja Group’s IndusInd International Holdings Ltd (IIHL) receives approval from the Insurance Regulatory and Development Authority of India (IRDAI). This development holds relevance…
MUFG to Acquire 20% Stake in HDB Financial Services, Valuing at $9-10 Billion Pre-IPO In a significant move, Mitsubishi UFJ Financial Group (MUFG) has announced its plans to acquire a 20% stake in HDB Financial Services, a subsidiary of HDFC Bank. This strategic investment is set to value HDB Financial Services at approximately $9-10 billion…
Veteran Dealmaker Atul Mehra Joins Axis Capital as MD & CEO Atul Mehra, a seasoned dealmaker with extensive experience in the financial sector, has recently been appointed as the Managing Director and Chief Executive Officer (MD & CEO) of Axis Capital, a prominent investment banking firm in India. This significant development has garnered attention within…
REC Wins SKOCH ESG Award 2024 in Renewable Energy Financing Category Renewable Energy Corporation (REC) recently clinched the prestigious SKOCH ESG (Environment, Social, and Governance) Award 2024 in the Renewable Energy Financing category. This remarkable feat underscores REC’s commitment to sustainable practices and its pivotal role in facilitating the financing of renewable energy projects in…
Arya Ag Partners Shivalik Bank for Commodity Financing In a significant development for the agricultural sector, Arya AgriTech, a leading agri-commerce company, has forged a partnership with Shivalik Mercantile Co-operative Bank Ltd (Shivalik Bank) to facilitate commodity financing. This collaboration aims to streamline financing options for farmers, ensuring smoother operations and increased productivity in the…
PFC Secures RBI Approval for IFSC Finance Company in GIFT City Public Financial Corporation (PFC) recently achieved a significant milestone by obtaining approval from the Reserve Bank of India (RBI) to establish an International Financial Services Centre (IFSC) finance company in the Gujarat International Finance Tec-City (GIFT City). This approval marks a pivotal step towards…
“Record FPI Purchases Drive Indian Equities to All-Time Highs in December” Amidst a dynamic financial landscape, the Indian equity market experienced an unprecedented surge in December, propelled by an influx of Foreign Portfolio Investor (FPI) purchases. This surge has propelled Indian equities to achieve remarkable all-time highs, charting a promising trajectory for the nation’s economic…
Household Financial Savings and Liabilities in India: RBI’s Assessment The Reserve Bank of India (RBI) recently released its assessment report focusing on the financial savings and liabilities of households in India. This comprehensive study sheds light on the financial behavior of Indian households, crucial for aspirants preparing for various government exams like teachers, police officers,…
SEBI Gives Nod to Appoint Pramod Agrawal as BSE Chairman The Securities and Exchange Board of India (SEBI) recently granted approval for the appointment of Pramod Agrawal as the Chairman of the Bombay Stock Exchange (BSE). Agrawal, an experienced professional with a profound understanding of financial markets, is set to assume this crucial role, steering…
