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Patanjali, DS Group to acquire Magma General Insurance

AIMPWAMarch 13, 2025

Sanoti Properties LLP, owned by Adar Poonawalla, has approved the sale of its insurance subsidiary, Magma General Insurance Limited (formerly Magma HDI General Insurance Company Limited), to Patanjali Ayurved Limited and DS Group for approximately ₹4,500 crore, subject to regulatory approvals. The transaction is structured as per a Share Purchase Agreement (SPA), with Celica Developers...

RBI Governor meets with fintechs, PSOs

AIMPWAMarch 13, 2025

Reserve Bank of India Governor Sanjay Malhotra today met with non-bank Payment System Operators (PSOs) and fintechs along with their associations and self-regulatory organisations in Mumbai, according to a statement. The interaction was a part of the RBI’s series of engagements with the payments and fintech ecosystem. Earlier, the RBI Governor had met with heads...

Cooling inflation fuels rate cut hopes: RBI may go beyond 25 bps in April, say foreign bank economists

AIMPWAMarch 13, 2025

Foreign banks and brokerages see the latest soft inflation print in India paving the way for further RBI policy rate cuts with some even predicting a larger, non-standard 35 basis point cut in the April 9 MPC meeting. Some foreign banks expect a sub-4 per cent inflation print laying the ground for 50 basis points more...

Infibeam partners with Sutex Cooperative Bank for enhancing net banking facility

AIMPWAMarch 13, 2025

Infibeam Avenues Ltd’s flagship payment gateway brand, CCAvenue, has partnered with The Sutex Co-operative Bank Ltd to help bolster the bank’s net banking facility. The new collaboration will enable Sutex Co-operative Bank Ltd to route secure direct debit digital payments to its merchants, including multi-currency payments, simplifying transactions for both businesses and customers, stated an...

HDFC Bank has launched Project HAKK (Hawai Anubhavi Kalyan Kendra) to provide support and services to Indian Air Force (IAF) pensioners, veterans and their families.

AIMPWAMarch 13, 2025

HDFC Bank has launched Project HAKK (Hawai Anubhavi Kalyan Kendra) to provide support and services to Indian Air Force (IAF) pensioners, veterans and their families. In this regard, the Bank has signed a Memorandum of Understanding (MoU) with the IAF acting through the office of the Assistant Chief of Air Staff – Accounts & Air...

Slowdown in credit card growth continues, disbursement at 4-year low: Report

AIMPWAMarch 13, 2025

The credit card sector in India is witnessing a slowdown, with disbursement growth falling to a four-year low, according to a report by ACMIIL, a stock market firm. The report, which provides insights into the credit card segment for January 2025, highlights a decline in total spending and a drop in the number of credit...

Canara Bank to issue ₹4,000 crore Basel-III compliant Tier-II bonds with AAA rating, bidding on March 17, 2025.

AIMPWAMarch 13, 2025

After raising ₹3,000 crore through tier-I bonds in August 2024, Canara Bank’s Board of Directors has now approved the issuance of ₹4,000 crore in Basel III–compliant tier-II bonds of ₹4,500 crore during FY 2024-25. The bond is rated AAA/Stable by CRISIL and CARE and will have a tenor of 10-years with 5-year call option. The...

Banking system liquidity deficit may spillover into at least Q1FY26, requiring continuation of infusion measures, say experts

AIMPWAMarch 13, 2025

While the Reserve Bank of India (RBI) has doubled down on liquidity injection measures to help banks tide over liquidity deficit in the run up to the financial year (FY) end, fixed income market experts expect the deficit pressure to spillover into at least the first quarter of FY26, requiring continuation of these measures. Further,...

IFSCA looks to launch oilfield-equipment leasing in GIFT City

AIMPWAMarch 13, 2025

On the lines of aircraft and ship leasing businesses, the International Financial Services Centres Authority (IFSCA) has now proposed to introduce oilfield equipment leasing business in GIFT City, Gujarat. Earlier this week, the IFSCA released a public consultation paper proposing to introduce oilfield equipment leasing as a financial product in GIFT City, thus enabling operating...

GTRI Urges Government to Withdraw Mandatory Quality Control Norms on Steel Fasteners

AIMPWAMarch 13, 2025

New Delhi, Mar 13 (KNN) The Global Trade Research Initiative (GTRI) has called on the government to withdraw the mandatory quality control norms on steel fasteners, warning that their implementation will disrupt industrial supply chains and create regulatory challenges. The Quality Control Order (QCO), issued by the Department for Promotion of Industry and Internal Trade (DPIIT) in...

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When consumption push and fiscal consolidation go hand in hand

AIMPWAMarch 14, 2025

The budget this year came in the background of an economic slowdown led by weak urban consumption and lower government capex. Hence, finance minister (FM) Nirmala Sitharaman was expected to stimulate growth while continuing on the path of fiscal consolidation. The budget has delivered on this by incentivizing urban consumption through tax cuts while continuing...

Gold prices hit record high for 3rd straight day on MCX; spot gold tops $3,000 on safe-haven demand

AIMPWAMarch 14, 2025

Gold price today: Maintaining its upward run for the third straight day, gold prices touched another peak on the Multi Commodity Exchange (MCX) in today’s trading session, March 14. The April expiry contract opened higher at ₹87,781 per 10 grams and strengthened further to hit a fresh peak of ₹88,280, marking a 0.57% jump from...

Kerry Washington invests in wedding marketplace Cheersy

AIMPWAMarch 14, 2025

Kerry Washington is expanding her angel investment portfolio, serving as lead investor in the pre-seed round of the wedding marketplace Cheersy. Cheersy, which was founded in 2024 by Amy Shack Egan, helps couples find day-of service wedding coordinators and has raised a total of $550,000, from other investors including Christina Tosi, the founder of Milk...

MFIs likely to adopt cautious growth approach moving ahead: Satin Creditcare CMD

AIMPWAMarch 14, 2025

Microfinance institutions (MFIs) are likely to proceed with cautious growth approach going ahead, after recording rapid growth in the range of 25-40 per cent in earlier years, and subsequently seeing stress in their asset quality, HP Singh, CMD, Satin Creditcare Network, tells businessline in an interaction. He talks about when the MFI sector stress is...

Tax changes in budget will increase bank deposits by ₹40,000-45,000 crore: DFS secretary M Nagaraju

AIMPWAMarch 14, 2025

The finance ministry expects ₹40,000-45,000 crore to flow into banks as deposits from the various tax changes announced in the Budget, including raising the tax-free income level to ₹12 lakh, financial services secretary M Nagaraju said during a media interaction on various Budget proposals on Monday. Union Budget 2025, which finance minister Nirmala Sitharaman presented...

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Latest Posts

Patanjali, DS Group to acquire Magma General Insurance

RBI Governor meets with fintechs, PSOs

Cooling inflation fuels rate cut hopes: RBI may go beyond 25 bps in April, say foreign bank economists

Infibeam partners with Sutex Cooperative Bank for enhancing net banking facility

HDFC Bank has launched Project HAKK (Hawai Anubhavi Kalyan Kendra) to provide support and services to Indian Air Force (IAF) pensioners, veterans and their families.

Slowdown in credit card growth continues, disbursement at 4-year low: Report

Canara Bank to issue ₹4,000 crore Basel-III compliant Tier-II bonds with AAA rating, bidding on March 17, 2025.

Banking system liquidity deficit may spillover into at least Q1FY26, requiring continuation of infusion measures, say experts

IFSCA looks to launch oilfield-equipment leasing in GIFT City

GTRI Urges Government to Withdraw Mandatory Quality Control Norms on Steel Fasteners

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When consumption push and fiscal consolidation go hand in hand

Gold prices hit record high for 3rd straight day on MCX; spot gold tops $3,000 on safe-haven demand

Kerry Washington invests in wedding marketplace Cheersy

MFIs likely to adopt cautious growth approach moving ahead: Satin Creditcare CMD

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When consumption push and fiscal consolidation go hand in hand

Gold prices hit record high for 3rd straight day on MCX; spot gold tops $3,000 on safe-haven demand

Kerry Washington invests in wedding marketplace Cheersy

MFIs likely to adopt cautious growth approach moving ahead: Satin Creditcare CMD

Tax changes in budget will increase bank deposits by ₹40,000-45,000 crore: DFS secretary M Nagaraju

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When consumption push and fiscal consolidation go hand in hand

Gold prices hit record high for 3rd straight day on MCX; spot gold tops $3,000 on safe-haven demand

Kerry Washington invests in wedding marketplace Cheersy

MFIs likely to adopt cautious growth approach moving ahead: Satin Creditcare CMD

Tax changes in budget will increase bank deposits by ₹40,000-45,000 crore: DFS secretary M Nagaraju

Tata-Group auto major plans ₹2,000 crore fund raise via NCD issue on THIS date, stock down 12% YTD; Buy or sell?