Astron Multigrain is set to list on the BSE SME platform on December 8 following a modest IPO that closed at ₹18.40 crore. The company, which manufactures instant noodles and other snacks, saw a 1.22 times overall subscription, with retail investors showing more interest than non-institutional investors. Proceeds will fund capital expenditure and working capital needs.Read More
To ensure the recent interest rate reduction truly benefits the economy, the Reserve Bank of India may have to infuse a staggering 1.5 lakh crore into the financial system. This move is seen as vital to offset the liquidity drains caused by advance tax payments and possible forex market interventions.Read More
Following the latest repo rate decrease, bankers foresee only slight adjustments to deposit rates. The landscape, characterized by sluggish savings yields and elevated credit-deposit ratios, restricts deeper cuts. Consequently, banks will experience continued margin pressure in the near term. However, a turnaround in profitability is anticipated later this fiscal year.Read More
Next year, Bajaj Finserv is paving the way for a dynamic foray into pensions and wealth management, setting the stage for a robust financial future. With ambitions to list its insurance arms in the next four to five years, this strategy is a cornerstone of their ambitious five-year roadmap aimed at tripling revenue by FY30.Read More
Money changers’ innovative plan to use stablecoins for NRI remittances is facing disruption. The usual premium on USDT over the US dollar has vanished, leaving some operators with stuck funds or delayed transfers. This scheme offered better exchange rates than banks for sending money from the UAE, UK, and USA to India.Read More
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