Rupee hits new record low against US dollar on RBI rate cut hopes
The Indian rupee weakened to a record low of 87.487 per dollar on Wednesday, before closing at 87.465 per dollar, down 40 paisa from its previous close, on expectations that the Reserve Bank of India (RBI) will cut interest rates on February 7, traders said.
Improved loan book gives much credibility to Ujjivan Small Finance Bank
Ujjivan Small Finance Bank rebounded 16% from its 52-week low after announcing plans to apply for a universal banking license. Despite weak Q3 results, analysts remain positive due to improving secured assets and long-term growth prospects, retaining a “buy” rating.
More foreign banks to take part in RIL’s $3-billion loan syndication
Reliance Industries (RIL) is broadening the syndication of its $3-billion dual currency loan, adding around 10 global banks, including ANZ, Barclays, and JP Morgan, to the original eleven lenders. The funds, partially denominated in yen, will be used for upcoming repayments.
NSE profit after tax rises 22% in Q3, revenue falls
The exchange said that its consolidated revenue from transaction charges declined due to a reduction in volumes across the cash market and derivatives segment in the third quarter.
Promoters continue to pare stakes even as stock prices fall
Since October 1, when the market began declining, promoters of nearly 120 mid- and small-cap companies have sold shares worth ₹7,000 crore.
RBI orders NBFCs to reveal max rates of all loan products
The Reserve Bank of India (RBI) has directed large non-banking finance companies (NBFCs) to disclose the maximum rates charged on each loan product, including interest and other fees. This measure aims to ensure transparency and curtail any potential usurious practices amid growing household indebtedness.