The rupee surged to a one-month high of 87.82 against the dollar on Thursday, buoyed by a weaker dollar index and positive sentiment from equity markets and India-US trade talks. This rally followed suspected heavy RBI intervention on Wednesday, which helped the rupee trade above the 88/$1 mark for a second consecutive day.Read More
State Bank of India is poised to raise ₹7,500 crore through the sale of 10-year Tier II bonds, with pricing expected above a 7% coupon. This marks the first such bond issuance by India’s largest bank, featuring a base size of ₹5,000 crore and a potential ₹2,500 crore green shoe option.Read More
Fitch Ratings has upgraded IIFL Finance’s outlook to positive from stable, affirming its ‘B+’ senior secured debt rating. The agency anticipates improvements in the company’s credit profile over the next two years, including asset quality and funding diversity, following the lifting of RBI restrictions on gold loans.Read More
Indian tax officials are scrutinizing DBS Bank’s 2019 Masala Bond investments. The Income Tax department seeks confirmation on beneficial ownership and interest received. This probe follows a period of tax exemption for Masala Bond interest. The investigation aims to ensure compliance with investment regulations and tax benefits. Details on bond issuance and RBI filings are being sought.Read More
India’s Ministry of External Affairs has refuted US President Donald Trump’s claim that Prime Minister Narendra Modi assured him of ending Russian oil purchases. The MEA stated no such telephonic conversation occurred, emphasizing India’s consistent priority to safeguard consumer interests in volatile energy markets.Read More
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