Tenor Financial News

reverse repo operations facility and would use it to trade with primary dealers in open market operations on a monthly basis. The bank took the decision to maintain a «reasonable abundance of liquidity in the banking system and further enrich the central bank's monetary policy toolbox,» it said in a statement.

The revised FD rates have been effective from September 27, 2024.

State Bank of India (SBI) on Wednesday said it has raised Rs 7,500 crore through issuance of Basel III-compliant Tier 2 bonds to qualified institutional bidders. In a regulatory filing, SBI said the issue attracted overwhelming response from investors with bids in excess of 3 times against the base issue size of Rs 4,000 crore. «The investors were across provident funds, pension funds, mutual funds, banks etc,» SBI said.

They faced the challenge of moderating what is probably the only general election debate between Kamala Harris and Donald Trump

Adani Enterprises’ first-ever non-convertible debentures (NCDs) issuance has received bids of Rs 716 crore on the opening day, higher than the base issue size of Rs 400 crore. The overall issue, open for subscription for a fortnight, was oversubscribed 1.8 times. The NCDs, rated CARE A+ (Positive) by CARE Ratings Ltd., offer an effective yield of up to 9.9% annually across eight series, with tenors ranging from two to five years. The issue, launched Wednesday and is scheduled to close on September 17, includes a green shoe option to raise an additional Rs 400 crore, potentially taking the total fund mobilization to Rs 800 crore.

Adarsh Developers is close to a financial turnaround, as it repaid a Rs 750 crore structured finance facility from Edelweiss Alternative Asset Advisors raised in 2022. The repayment, aided by operational cash flow and lower-cost refinancing from banks, has helped the Bengaluru-based company reduce its cost of funds by 8-9 percentage points. The initial funding from Edelweiss, raised at over 20%, was used for reviving its residential projects and generating liquidity. Edelweiss had lent the money in two tranches, with Rs 450 crore in the first instalment. While Adarsh Developers used part of the Rs 1,900 crore it raised from a land sale to Mapletree Investments earlier this year to repay Rs 450 crore, it continued to finance the remaining debt.

Here is a look at the list of banks that have revised their MCLR in August 2024.

RBL Bank RBL Bank has launched a special fixed deposit termed as 'Vijay Fixed Deposits'. This limited-time offer honors the bravery and sacrifices of India’s warriors offering significant financial rewards. The 'Vijay Fixed Deposits', has been designed to show appreciation for our military men, an RBL bank press release stated.

rate for LTCG, not the slab rate. This benefit is only available for listed bonds. The 2024 Budget brought in slab rate taxation for unlisted bonds regardless of the holding period.

Reserve Bank of India (RBI) has announced a final redemption price for the first tranche of the sovereign gold bond (SGB) scheme at Rs 6,938 per gram and fixed the redemption date as August 5, Monday. Those who invested in the scheme have made an income of a whopping 122% (Rs 3,819) over the issue price of Rs 3,119 per gram. This does not include an interest income of 2.5% given by the government. The 2016-17 SGB Series I was issued on August 5, 2016. The SGBs are repayable on the expiration of eight years from the date of the issue of the gold bonds.

Punjab National Bank on Thursday raised the marginal cost of funds-based lending rate (MCLR) by 0.05 per cent, or 5 basis points, across tenors, making most of the consumer loans costlier.

Shapoorji Pallonji Group has mandated Deutsche Bank and DAM Capital to raise Rs 3,000 crore at mid-teen interest rates to refinance high-cost debt from private credit funds Ares SSG Capital and Farallon. The debt is due for repayment next year. «Deutsche Bank and DAM Capital have been mandated to raise Rs 3,000 crore by Shapoorji Pallonji Group to arrange debt at mid-teen rates for refinancing existing liabilities,» a source familiar with the matter said. «The fundraise will reduce the interest burden from the current 18-22% rate, as the company is looking to lower the overall cost of capital.» The proceeds from this issuance will be used to refinance upcoming maturities and partially prepay Ares and Farallon. These bonds, issued in 2021 with a three-and-a-half-year tenor, are set to mature soon. The group has approached several large funds and global banks to gauge interest, two sources indicated.

White House had a tough time answering questions pertaining to the US President’s performance during the first US Presidential debate. Joe Biden appeared to be lackluster and being unable to convince the voters to give him a second term in office. Experts pointed out that the incumbent president lacked energy, had a weak tone and tenor and was uninspiring during the entire course of the debate. Meanwhile, the White House also dismissed suggestions to replace Biden as the official nominee of the Democratic party in the upcoming US Presidential Election. The main point which has been attributed to Biden’s ‘disastrous’ performance was a ‘cold’.

US presidential debate, the subject of kinesics provides us an insight into the profile of the two potential presidential nominees. Kinesics is the study of body language. This presidential debate has been analyzed by experts who have studied the posture, expressions, tone and tenor and movements of both Donald Trump and Joe Biden. This has been reported by the New York Post. The office of the US President is considered to be the most powerful position in the world and candidates seek to inspire confidence through their conduct and body language. The voters also form an impression at a sub-conscious level after noticing the body language of the candidates.

State Bank of India (SBI) on Wednesday raised Rs 10,000 crore through its fifth infrastructure bond issuance. The country's largest lender raised the funds at a coupon rate of 7.36 per cent. The issue attracted overwhelming response from investors with bids in excess of Rs 19,884 crore and was oversubscribed by around four times against the base issue size of Rs 5,000 crore, SBI said in a regulatory filing.

fixed deposit (FD) interest rates across tenors. SBI has increased FD rates by 75 basis points or bps (0.75%)—from 4.75% to 5.5% for deposits maturing between 46 days and 179 days. For longer tenors, the rate hike has been restricted to 25 bps (0.25%).SBI has increased interest rates for 180 days to 210 days from 5.75% to 6% and for those from 211 days to less than a year from 6% to 6.25%.

China's yuan dipped to a fresh seven-month low against the dollar on Friday, hurt by portfolio outflows from mainland financial markets and speculation the central bank is gradually allowing the currency to weaken. By 0245 GMT, the yuan was just off a November low of 7.2613, having fallen from 7.2575 earlier in the day. At the lows, it was a mere 7 pips away from the weak side of the band in which the People's Bank of China manages the currency.

IDBI Bank, Indian Bank, and Punjab & Sindh Bank offer special fixed deposit schemes with a deadline set in June. FD interest rate up to 9.1%: 9 banks have revised fixed deposit terms, rates after new RBI rule

State Bank of India (SBI) has hiked its marginal cost of funds-based lending rate (MCLR), the minimum lending rate below which a bank is not permitted to lend, by 10 basis points (bps) across all tenures. The MCLR hike is effective from today, June 15. This hike is despite the RBI holding the key interest rate or repo rate unchanged in its June monetary policy review.

The conference hall in Pune was packed. To retail investors who have long complained about low interest rates, an indicative 10% rate on idle savings seemed like a great deal. The questions came thick and fast after Gautam Adukia, co-founder at peer-to-peer lending platform LiquiLoans, concluded his presentation.