Silver prices surged by ₹10,000 to ₹1.74 lakh per kg, driven by a supply squeeze, a weaker dollar, and anticipated US rate cuts. This rally follows a significant increase over the past year, with investment demand projected to rise. Experts foresee continued supply deficits and further price appreciation for the white metal.Read More
Microlending veteran Padmaja Reddy is exiting unsecured business by fiscal end to focus on gold loans, transitioning her firm Keertana Finserv to a 94% secured portfolio. Citing a “structural crisis” in microfinance, Reddy aims for Keertana to be a fully secured lender with gold loans comprising 95% of its assets under management by FY25.Read More
Interest rates on term deposits above 7% significantly dropped to 54% by September, down from 73% in March, as banks lowered rates following RBI’s policy cuts. Loans linked to external benchmarks also saw immediate rate reductions. Public sector banks’ deposit share increased, while Maharashtra led in deposit mobilization.Read More
Sebi has approved the IPOs of ICICI Prudential Asset Management and three other companies, signaling the green light for their public offerings. ICICI Prudential AMC’s ₹10,000 crore IPO, slated for December, will be an entirely offer for sale, with UK-based Prudential Corporation Holdings divesting 1.76 crore shares.Read More
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