Adani Enterprises successfully raised ₹1,000 crore via non-convertible debentures, with ICICI Prudential Mutual Fund investing ₹300 crore. The funds will be utilized for debt repayment, subsidiary support, and corporate expenses. The debentures, rated ‘AA-; Stable’, carry an 8.7% interest and have tenors of two to three years.Read More
A former IndusInd Bank official’s wife traded Kesoram Industries shares after learning of acquisition talks. She profited significantly. The official also traded other company shares through family members, earning over ₹32 crore. He shared this information with colleagues. The bank is investigating and cooperating with SEBI. This comes after previous accounting irregularities at IndusInd Bank.Read More
The Reserve Bank of India will start a deposit tokenisation pilot on October 8. This initiative will create digital representations of assets like deposits. The pilot will use the wholesale segment of its central bank digital currency. Several banks are collaborating on this project. Tokenisation aims to make transactions faster, cheaper, and safer.Read More
Canara HSBC Life Insurance is preparing for its stock market debut. The company plans to enhance its value of new business margins. This will be achieved by diversifying its product offerings and broadening its distribution network. The IPO aims to raise funds for growth. The insurer has seen significant growth in assets under management and premium income.Read More
Finance Minister Nirmala Sitharaman launched a real-time foreign currency settlement system at GIFT City, replacing a delayed process. This new system enables instant transactions, eliminating the 36-48 hour lag and positioning GIFT-IFSC among global financial centers with local foreign currency settlement capabilities.Read More
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