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DBUs to boost RBI's financial inclusion efforts: Das

Updated at : 2022-10-17 07:20:01

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The DBUs will augment our efforts to promote financial inclusion by providing banking services in a paperless, efficient, safe and secure environment. The specific financial services to be provided by the DBUs include, among other things, savings, credit, investment and insurance.

Oil bounces higher as U.S. dollar's strength eases

Updated at : 2022-10-17 07:20:01

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Member states of the Organization of the Production Exporting Countries and their allies, including Russia, lined up on Sunday to endorse the steep production cut agreed to this month after the White House, stepping up a war of words with Saudi Arabia, accused Riyadh of coercing other nations into supporting the move.

Asian shares slip, make or break day for UK bonds

Updated at : 2022-10-17 07:20:01

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While the S&P is an eye-watering 25% off its peak, BofA economist Jared Woodard warned the slide was not over given the world was transitioning from two decades of 2% inflation to a time of something more like 5% inflation.

HDFC Bank could complete merger process early

Updated at : 2022-10-17 06:20:01

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“More or less we think we are on the timeline. Maybe there is a (possibility of completing the merger process) a quarter or a few months early," HDFC Bank chief financial officer Srinivasan Vaidyanathan told analysts.

Bank of Maharashtra cuts home, personal loan rates

Updated at : 2022-10-17 06:20:01

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The bank said it is making retail loans cheaper to bring in cheer among customers during the festive season. Home loans from the bank will now be available at 8% per annum while the personal loan rate becomes cheaper at 8.9% from earlier 11.35%.

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Speaking to reporters after attending the annual meetings of the International Monetary Fund (IMF) and the World Bank, she asserted that the fundamentals of the Indian economy were strong and that inflation was low compared to other parts of the world. "First of all I would look at it as not rupee sliding, I would look at it as dollar strengthening, dollar strengthening incessantly," she said in reply to a question on weakening rupee.

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Stablecoins could also offer a faster, cheaper, and easier channel for cross-border remittances that broadly sidesteps the formal financial system (and by extension, foreign exchange laws). An e₹ may not address that directly until India is a member of the many cross-border remittance projects being built around CBDCs and the projects come to fruition.

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Recently, the toll in terms of wealth destroyed -- about $15 trillion to date -- has started to approach that of the 2008 financial crisis, when measured against US gross domestic product.

Multibagger smallcap approves 2:5 rights issue

Updated at : 2022-10-16 17:25:01

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Commanding a m-cap of around Rs 120 crore, Hilton Metal is a YTD multibagger stock that delivered 277% returns during the period. Also, the stock’s last 1-year and 3-year returns are at an astounding 510% and 874%, respectively.

On the other hand, if we talk about Rajasthan, the soybean crop loss due to unseasonal rainfall is 150,000 MT. In Rajasthan, soybean is mainly sown in the Hadoti region- Bundi, Baran, Jhalawar, and Kota. These four districts account for 75% of the soybean production in Rajasthan.

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