Tenor Financial News

“snatch your property" and “distribute it among selected people" like when it was in power, the Karnataka BJP's animated video showed caricatures of Rahul Gandhi and Siddaramaiah placing an egg with "Muslims" written on it in a nest along with three eggs marked as "SC, ST and OBC." The video further showed the caricature of Rahul Gandhi feeding "funds" only to the bird that hatched out of the "Muslim" egg. The case against the BJP leaders has been registered under the Indian Penal Code’s (IPC) section 505(2) (statement conducing public mischief), and the Representation of People Act’s Section 125 (promoting enmity between classes). “We have registered a case against JP Nadda, Vijayendra, and [Amit] Malviya on the complaint filed by KPCC member Ramesh Babu.

Reserve Bank of India (RBI) has proposed to overhaul rules governing project lending to enable the flow of funds to infrastructure and, at the same time, ensure that the risk metrics are under control. It has stipulated minimum exposure of banks in consortium lending and prescribed norms to defile credit events. The regulator issued draft guidelines pertaining to the prudential framework for financing projects in the infrastructure, non-infrastructure and commercial real estate sectors. It said the guidelines lay down the regulatory dispensations regarding the date of commencement of commercial operations (DCCO) of such projects.

Treasury options traders are protecting against everything from multiple interest-rate cuts this year to a hike ahead of the US Federal Reserve meeting this week.

RBI) Friday proposed asking lending service providers (LSP) to share information in digital form about all the loan offers available to the borrower from all the willing lenders with whom they have lending arrangements. The banking regulator proposes this in a draft guideline on 'digital lending — transparency in aggregation of loan products from multiple lenders.' The RBI draft stated, «The LSP shall provide a digital view of all the loan offers available to the borrower, as per his/her requirements, from all the willing lenders with whom the LSP has arrangements with.»

RBI) on Friday proposed that lending service providers (LSPs), acting as agents of banks, should give information on all the loan offers available with them to borrowers so that they can make an informed decision. Many of the LSPs offer aggregation services for loan products. LSP is an agent of a regulated entity (RE) who carries out one or more of lender's functions or part thereof in customer acquisition, underwriting support, pricing support, servicing, monitoring, recovery of specific loan or loan portfolio on behalf of REs in conformity with extant outsourcing guidelines. In December last year, the RBI announced to issue draft framework saying connected lending or lending to persons who are in a position to control or influence the decision of a lender can be of concern, if the lender does not maintain an arm's length relationship with such borrowers.

Bank of Japan left interest rates on hold on Friday, keeping traders on edge as to when and to what degree authorities in Tokyo may intervene. The yen fell by about 0.2% and weakened to 156.1 per dollar in the minutes after the announcement. The yen also nudged down to its weakest almost 16 years at 167.38 per euro and its weakest in nearly a decade on the Australian dollar.

Adani Green Energy, which is looking to develop a 25 gigawatt portfolio by 2025, is in advanced talks with Rabobank, MUFG, SMBC and DBS for a $400 million loan, according to people familiar with the development. The loan is likely to be priced at a secured overnight financing rate (SOFR) plus 250 basis points with a five-year tenor, they said. A basis point is a hundredth of a percentage point. The renewable energy arm of Adani Group will use the funds for capital expenditure, said one of the persons, who did not wish to be identified.

Non-bank lender Shriram Finance Ltd (SFL) has launched digital-only recurring deposits and fixed deposits, which can be subscribed through the Shriram One App and the official company website, effective April 22.

Motilal Oswal Financial Services has launched its maiden public issue of non-convertible debentures (NCDs) worth Rs 1,000 crore, comprising a base issue of Rs 500 crore and a green-shoe option of Rs 500 crore to retain oversubscription.

Arcelormittal Nippon Steel India Ltd., a joint venture between two of the world’s leading steel makers, is in talks with banks to raise about 85 billion rupees ($1 billion), according to people familiar with the matter, in what could be the biggest local-currency loan this year to fund the firm’s expansion. At least three lenders including State Bank of India, ICICI Bank Ltd. and Axis Bank Ltd. would be participating in the syndicated deal, with proceeds to be used for capital expenditure, said the people who asked not to be identified for discussing private information. SBI, India’s top bank, could lend more than half of the loan, which may carry a tenor longer than five years and be priced against a local interest rate benchmark, they said, adding that details of the lending facility are not finalized and may change.

The cost of betting on further dollar gains in the options market rose to the highest since November as the US economy’s resilience drives demand for the currency.

If you’re considering buying your dream home and need a home loan, it’s important to compare interest rates offered by various banks. Interest rate is one of the key factors for every loan borrower.

Vedanta Ltd. has mandated JPMorgan Chase & Co. to help it raise 25 billion rupees ($300 million) via rupee-denominated bonds, according to people familiar with the matter. JPMorgan’s financing-solutions department in India, headed by Nitin Rungta, is reaching out to potential investors on behalf of the metals and mining company, according to people who asked not to be identified as the information is private. Those investors include global private credit funds, they said.

Here is a look at the latest MCLR of the top 8 banks in April 2024. Also read: Home loan interest rates April 2024: Banks offering cheapest interest rates for home loans above Rs 75 lakh

repo rate constant at 6.5 per cent, Bank of Baroda raised its MCLR across four tenors by 5 basis points with effect from today i.e., April 12, 2024. Bank of Baroda's base rate is now 9.40 percent with effect from Friday. Additionally, BPLR for all the existing accounts is 13.70 percent per annum with effect from April 12, 2023.

Bank of India revises FD rates: BOI has updated its fixed deposit interest rates for deposits below ₹2 crore. Following the revision, the bank now provides interest rates ranging from 3% to 7.25% for deposit periods spanning from 7 days to 10 years. These rates are effective from 1 April 2024. Senior citizens receive an extra 50 basis points (bps) on tenors of 6 months and above, while super senior citizens are granted an additional 65 bps. For deposits below ₹2 crore and tenors of 3 years and above, senior citizens receive an additional premium of 25 bps, totaling 75 bps. Similarly, super senior citizens are offered an additional premium of 25 bps, totaling 90 bps.

Tata Trusts and Tata Sons are said to be closely monitoring the Shapoorji Pallonji (SP) Group's bid to raise ₹20,000 crore from state-run institutions to refinance debt taken against stakes in the Tata Group holding company. The Mistry family-promoted SP Group holds an 18.37% stake in Tata Sons, all of which is pledged against loans. The Tata Trusts own a controlling 66% of the holding company. The Tata Trusts and Tata Sons have been discussing the question of whether the institutions are aware that the Tata Sons Articles of Association, 57-61, regulate the transfer of shares in the event of a shareholder default, said people with knowledge of the matter. There can be no transfer of shares without board approvals, they said.

₹7.5 trillion in the first half of the upcoming financial year. The borrowing for FY25 would be done by issuing dated government securities along with ₹12,000 crore of sovereign green bonds. In the interim budget for FY25, the government pegged its borrowing from the market at ₹14.13 trillion.

₹1 Crore. Prior to this development, the minimum amount had been set at ₹15 Lakhs. This adjustment reflects changing banking dynamics, emphasising newfound flexibility in investment management.