Marketing

Viral Acharya, New Reserve Bank Deputy Governor, Has An Impressive CV

The government has appointed Viral V. Acharya, a professor of economics at New York University, as one of the Reserve Bank of India’s four deputy governors for a term of three years, according to a statement on Wednesday. Since 2008, Dr Acharya has been teaching at the Stern School of Business in New York University. . Prior to joining NYU ... Read More »

IFCI Raises Lending Rate By 10 Basis Points To 8.6 Per Cent

New Delhi: Term finance lender IFCI today said it has raised benchmark lending rate by 0.1 percentage point (10 bps) to 8.6 per cent. The company has changed its its short-term benchmark rate (IBR-ST) from 8.50 per cent to 8.60 per cent with monthly rests for lending for tenure up to three months only, IFCI said in a statement. The ... Read More »

Banks’ loans rose 5.8% in two weeks to December 9: Reserve Bank

Indian banks’ loans rose 5.8 per cent in the two weeks to Dec. 9 from a year earlier, while deposits rose 15.9 per cent, the Reserve Bank of India’s weekly statistical supplement showed on Friday. Outstanding loans rose by Rs. 46830 crore to Rs. 73.39  lakh crore in the two weeks to December 9. Non-food credit rose Rs. 38,690 crore ... Read More »

Yes Bank Raises Rs. 3,000 Crore From Bonds

New Delhi: Private sector Yes Bank on Saturday said it has raised Rs. 3,000 crore from bonds to fund business expansion. With this capital raising, the bank’s Tier-I Capital Ratio will be at 12 per cent including profits and adjusted for pro-rata dividends, Yes Bank said in a statement. The Basel-III compliant additional Tier-1 (AT1) Bonds will be listed on ... Read More »

10 Director Level Posts Vacant In RBI

New Delhi: The Reserve Bank of India’s all powerful central board is short of ten non-official directors and one deputy governor at a time when the central bank is engaged in massive demonetisation and remonetisation exercises. The last board-level appointment done by the government was when it elevated N S Vishwanathan to the post of deputy governor in June. Prior ... Read More »

Liquor Stocks Fall After Top Court Orders Closure Of Shops Along Highways

Shares of liquor makers such as Globus Spirits, Pincon Spirit, Radico Khaitan and United Spirits fell as much as 7 per cent after the Supreme Court ordered closure of liquor shops along the national and state highways. Indian made foreign liquor maker Globus Spirits fell as much as 6.85 per cent to Rs 90.35. It was followed by Pincon Spirit ... Read More »

Mandhana Industries Surges 62% in 3 Days. Salman Khan Connection Helps

Mandhana Industries shares surged as much as 20 per cent to its maximum intraday limit of Rs. 41.55 on Thursday, extending its rally to third straight day. Including today’s gains the stocks has surged 62 per cent in last three trading sessions. The gains in the shares of Mandhana Industries follow a block deal on Tuesday and listing of the ... Read More »

Gitanjali Gems Soars 10% On Subsidiary’s Rs 650 Crore IPO Plan

New Delhi: Gitanjali Gems shares surged 10 per cent after its subsidiary Nakshatra World notified the decision of raising up to Rs 650 crore through an IPO. On BSE, the stock opened at Rs 65.20 and soared 9.89 per cent to touch an early high of Rs 68.85. “Nakshatra World Ltd, a wholly owned subsidiary of Gitanjali Gems Ltd, has ... Read More »

Wall Street Dragged Lower On Tech Stocks; China Tension Weighs

Analysts said investors were anxious and turned to defensive sectors in stocks as well as US Treasuries. New York: US stocks fell on Friday, weighed by a more than 4 per cent drop in Oracle shares, while recently battered stocks in the real estate and utilities sectors posted the largest gains. Oracle dropped 4.3 per cent to $39.10 after its ... Read More »

RInfra Fund Files Draft Red Herring Prospectus To Raise Rs. 3,000 Crore

Mumbai: Reliance Infrastructure (RInfra) said on Friday that it has filed initial papers with the Securities and Exchange Board of India (Sebi) to raise Rs. 3,000 crore through a draft red herring prospectus (DRHP). “The Reliance Infrastructure InvIT Fund (RInfra InvIT), has filed the DRHP with the Securities and Exchange Board of India and the issue size is Rs. 3,000 ... Read More »