BUSINESS
RBI Permits Banks to Establish Special Accounts to Aid Exporters in Rupee Trade
In a move initiated on July 11 of the previous year, the RBI had implemented an additional framework for managing invoicing, payment, and settlement of exports/imports conducted in INR (Indian Rupee).
Report Reveals India's 72 Unicorns Valued at $196 Billion in Total
Despite India's unicorns having a comparatively lower average valuation per company ($2.72 billion), their cumulative value represents a significant 5% share of the total
RBI's Increase in Weightage on Unsecured Loans Leads to Decline in Nifty Bank Indices
The recent decision by the RBI to impose higher risk weights on credit card and unsecured loans is expected to immediately increase the capital requirements for banks and NBFCs.
Mutual Fund Holdings in Stocks Beyond Top 500 Surge to 2018 Record Highs
Although the curve peaked in August 2022, there has been another spike since June 2023, primarily fueled by inflows into small-cap investments.
SoftBank Reportedly Sells Rs 747 Crore Stake in Delhivery, Estimated at 2.5%
During this block deal, roughly 1.8 crore shares of Delhivery changed hands at Rs 403 per share. Reports initially hinted at SoftBank's intent to divest a portion of its stake in the logistics firm for around $150 million, as first reported by Moneycontrol.
India Poised for Benefits as Crude Oil Prices Hit 4-Month Low
India had been grappling with an escalating current account deficit due to the substantial oil import bill, exerting pressure on the rupee, which weakened owing to the heightened demand for dollars necessary for purchasing expensive oil.
UBS Highlights High Valuations in India Amid Average Company Performance
Their analysis on India highlights the discrepancy between expensive market valuations and the ordinary fundamental performance of companies.
Nine Indian Leaders Recognized in 'Time 100 Climate' List
The unveiling of this list, encompassing CEOs, founders, philanthropists, musicians, policymakers, and government officials from various corners of the world, precedes the forthcoming 2023 UN Climate Change Conference scheduled in the United Arab Emirates (UAE) from November 30.
Former BharatPe CEO Ashneer Grover and Wife Stopped by Delhi Airport Authorities
The LoC, initiated at the behest of the Delhi Police Economic Offences Wing (EOW), led to their interception at the airport on Thursday night. Sindhu Pillai, the Joint Commissioner of Police (EOW), confirmed the incident but refrained from divulging more details, citing the ongoing investigatio
RBI Increases Risk Weightage to 125% for Banks, NBFCs' Consumer Credit
The circular issued by the central bank specified that the increased risk weights apply to consumer credit exposure of commercial banks, encompassing personal loans, raising it by 25 percentage points to 125 per cent.
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