IPO Street shines bright in 2023 on robust local demand, equity rally
Indian companies collectively raised $7.1 billion (around ₹54,000 crore) through the IPO route. Its share in the total money raised globally through IPOs expanded to 5.6%, up from 4.1% in the previous year. China raised $60.5 billion, accounting for nearly 48% of the global funds raised compared with 56% a year ago.
Indian banks strong enough to face adverse macro and credit stress: RBI
The 28th Financial Stability Report from RBI highlighted that scheduled commercial banks have ample capital buffers, ensuring regulatory compliance even under severe stress scenarios. The report also underscored the need for suitable regulatory and supervisory measures to mitigate risks arising from the expanding use of technology and innovation in the financial system.
Indices close at new highs on global cues, rollover of bullish F&O bets
Analysts attributed the recent market strength to stability in global equities, prompting traders to cover their bearish wagers.
Large international banks ask many Indian HNIs to close accounts
Two British banks, a Swiss lender, and an Emirates institution severed ties with over two dozen Indians in the last two months. These individuals had initially opened accounts under the RBI’s Liberalised Remittance Scheme (LRS), allowing up to $250,000 annual investment. Some offshore banks demand a minimum balance exceeding $1 million, urging clients to use […]