Reserve Bank lifted curbs on gold loan business, says IIFL Finance
The Reserve Bank of India has lifted the restrictions on IIFL Finance’s gold loan business, allowing the company to resume operations. The ban, imposed in March due to supervisory concerns, had led to a significant decline in IIFL’s gold loan book and profits. The company can now comply with all relevant laws and regulations.
S&P 500 hits record high buoyed by economic hopes: Markets wrap
Wall Street traders are optimistic about the Federal Reserve’s ability to achieve a soft landing, leading to a rally in riskier markets. The S&P 500 hit its 39th record high in 2024, with tech stocks leading gains. The Fed’s recent rate cut has bolstered hopes of avoiding a recession.
Fed rate cut positive, but may not have big impact on capital inflows: Top FinMin officials
Economic affairs secretary Ajay Seth sought to delink the Fed rate cut from any potential action by the Reserve Bank of India (RBI). The Fed has done what it feels to be the best for the US economy and the RBI will be guided more by the domestic reality, Seth said. Separately, chief economic adviser […]
Stocks in news: Reliance Infra, VST Industries, IDFC First Bank, NTPC, Vodafone Idea
Stocks in news: Domestic markets remained almost unchanged in a volatile session. Reliance Infra plans to raise Rs 3,014 crore, NTPC approves Rs 9,701 crore investment, and SBI extends $50 million support to Maldives. RBI re-appoints V Vaidyanathan as IDFC First Bank CEO. Vodafone Idea faces scrutiny after a significant stock fall.