Tenor Financial News

Sachin Bansal promoted Navi Finserv is looking to raise Rs 600 crore through non-convertible debentures (NCDs), the company said in a press release on Monday. The new bonds which will be issued by the lending startup will have tenors of 18, 27 and 36 months with effective yields ranging from 10.4% to 11.19%, the company added.

Sovereign Gold Bonds (SGB) 2023-24 Series-IV tranche is available for subscription starting today, February 12, 2024, and will be open until February 16, 2024. SGBs are normally allocated seven days after the subscription ends, so this tranche’s issuance date is February 21, 2024. Sovereign Gold Bonds 2023-24 Series IV opens on February 12: Know the latest SGB tranche issue price Investors including individuals, HUFs, trusts, universities and charitable institutions are eligible to invest in SGBs. Individual investors with subsequent change in residential status from resident to non-resident may continue to hold SGB till early redemption/maturity.

₹6,263 per gram, according to the Reserve Bank of India (RBI). The Scheme will be open for subscription until 16 February. The Sovereign Gold Bond Scheme 2023-24 - Series IV will be open for subscription during February 12–16, 2024.

promoter of the second-largest pharmacy retail chain MedPlus Health Services, is set to refinance the debt held by private equity firm Warburg Pincus, said sources familiar with the matter.

Also Read: China may be losing its sway over Taiwanese business The deliberations underscore efforts by President Xi Jinping’s government to shift spending responsibility from debt-laden local officials to central authorities in support of an economy that is struggling to maintain momentum. Rigid deflationary pressures, the ongoing property crisis and weak domestic demand are all weighing on activity and suppressing confidence, prompting calls among economists and investors for further stimulus.

India Inc mopped up a record Rs 9.58 lakh crore from the market in 2023, registering an increase of 26 per cent from the year-ago period, according to market data. In 2022, fund mobilisation through corporate bonds on private placement basis stood at Rs 7.58 lakh crore, according to the data collated by Primedatabase. In terms of volume, Primedatabase said, adding there were as many as 920 issuers in 2023, which was 863 in the previous year.

State Bank of India (SBI), the country’s largest Bank has launched a special fixed deposit (FD) scheme. SBI Green Rupee Term Deposit (SGRTD) has been launched to mobilise funds to support environment-friendly initiatives and projects, thereby fostering the growth of a green finance ecosystem in India, as per the release shared by the bank

will be infused into the group entity SMFG India Credit Co. The amount mopped up through the external commercial borrowing route would help to bolster the tier-I capital base of SMFG India Credit Co, formerly known as Fullerton India Credit, according to a statement on Wednesday.

equated monthly instalments) of loans such as personal or auto loans that are linked to MCLR are set to go up. The home loans which are linked to the repo rate will not witness a rise. MCLR is the minimum interest rate below which the bank is not supposed to charge.

SHANGHAI (Reuters) -Chinese regulators have closed a regulatory loophole that last year allowed heavily indebted local government financing vehicles (LGFVs) to further increase their borrowing, four sources familiar with the matter told Reuters.

The Reserve Bank of India (RBI) has recently reviewed the directions on commercial papers (CPs) and non-convertible debentures (NCDs).  The review was done based on the market feedback and a master direction has been issued accordingly. It will come into effect on April 1, 2024.

Reserve Bank of India (RBI) issues the bonds on behalf of the central government. Date of Subscription: February 12 – February 16, 2024 Date of Issuance: February 21, 2024 The tenor of the Sovereign Gold Bond (SGB) is for eight years with an option of premature redemption after 5th year to be exercised on the date on which interest is payable. The maximum limit of subscription is 4 kg for individuals, 4 kg for HUF, and 20 kg for trusts and similar entities per fiscal year.

SBI's three-year FD rates vs post office term deposit rates: Fixed deposits are considered one of the safest investment options. Several banks including, the State Bank of India ( SBI), Bank of Baroda (BoB), Punjab National Bank (PNB), and Union Bank of India recently hiked fixed deposit rates. On 29 December, the Modi government raised the interest rates on the three-year post office term deposit (POTD) scheme by 10 basis points for the January-March quarter.

Punjab National Bank has revised fixed deposit (FD) interest rates on amounts below ₹2 crore. The bank has hiked up to 50 basis points (bps) on certain tenures. The new rates are effective from January 1, 2024. PNB has also reduced FD rates on some buckets.

₹2 Crores to less than Rs. 50 Crores. The fixed deposit has a specific maturity period of 175 days, starting from January 1st, 2024.

Read here)Indian government bond yields are expected to start 2024 with an uptick as a higher-than-expected borrowing schedule from states could weigh on sentiment.The 10-year benchmark bond yield is expected to move in the 7.15%-7.21% range on Monday after closing at 7.1754% in the last session of 2023, a trader with a private bank said.The benchmark yield ended lower for the second consecutive month in December and closed the year with a drop of 15 basis points (bps).NIFTY-50 has closed in a doji candle near all time high and we expect some minor pullback to test 21300-21,400 levels over the next few days.On the higher side 22,000 will be a resistance being the round number and the weekly pivot resistance from current levels.RSI is trending below the average line and pullback below to the lower range could be expected and other key technical indicators are overbought from current levels.Highest call OI has moved to 22,000 strike while on the downside the highest put OI has moved higher to 21,700 for the weekly expiry.A number of large and mid-sized banks raised term deposit rates in December, luring customers to park surplus money with them as the system liquidity deficit widened following tax outflows and tepid government spending.Some banks raised rates for deposits up to ₹2 crore; others raised rates for bigger deposits. Top lenders State Bank of India (SBI ) and Bank of Baroda (BoB) increased rates on fixed deposits by 25-50 basis points (bps) and 10-125 bps, respectively, for different tenors on 27 and 29 December.

₹2 crore; others raised rates for bigger deposits. Top lenders State Bank of India (SBI ) and Bank of Baroda (BoB) increased rates on fixed deposits by 25-50 basis points (bps) and 10-125 bps, respectively, for different tenors on 27 and 29 December. A basis point is one-hundredth of a percentage point.

Bank of Baroda has hiked interest rates on retail term deposits from 10 basis points to up to 125 basis points on various maturity buckets.These rates are applicable on deposits below ₹2 crore with effect from today, December 29. After the latest hike, BoB offers an interest range ranging from 4.25 % to 7.255 to general customers. Bank of Baroda offers senior citizens an interest rate ranging from 4.75% to 7.75% on deposits maturing in seven days to ten years.

fixed deposit investors who saw a significant rise in interest rates. While the highest FD interest rate in major banks generally is in the range of 7%-8%, it went up to 9.5% and above in some small finance banks.

Sovereign Gold Bond (SGB) Series 2023–24 schedule for the fiscal year 2023-2024. Latest Sovereign Gold Bond (SGB) tranche issue price is the highest since launch in 2015