There's surplus liquidity and RBI, with plentiful forex reserves, is ready to pump whatever extra is needed Starting the middle of this month and peaking between October and November, foreign currency non-resident (FCNR) deposits worth $26 billion that banks in India raised three years earlier will start maturing. The currency and allied markets are curious as to the impact of this one-of-a-kind phenomenon. Banks have prepared different strategies and say they’re confident the ... Rediff.com, 2 weeks ago
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Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300 ICICI Prudential Life Insurance Company has got approval of the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO), the first by a life insurance company. The country’s leading private life insurer is looking to hit the markets before the end of this month, according to people close to the development. ICICI Bank will offload a 12.65 per cent stake ...Rediff.com, 2 weeks ago
Here is a snapshot of what the markets expect from the RBI's policy review on Tuesday The Reserve Bank of India will announce the Third bi-monthly Monetary Policy for 2016-17 on Tuesday. This will be the last policy by the current RBI Governor, Raghuram Rajan, whose term ends in early September. The policy will be presented in the backdrop of rising inflation. Consumer price inflation rose to 5.7% in Q2 versus 5.3% in the first quarter of CY16, higher than the central bank’s target of ...Rediff.com, 1 month ago
With future prospects being difficult to predict, hiring for a short period is proving to be cost-effective Around this time last year, a Mumbai-based start-up had raised a big Series-A round. The founder was excited thinking he had made it. He went out and hired people from his alma mater - Indian Institute of Technology (IIT). A few months later, when investors lowered their interest in companies where exits looked difficult, the founder had to cut costs. He fired all four of his treasured ...Rediff.com, 1 month ago
At $45 billion, it has gone ahead of biggies such as Barclays, ING, Deutsche Bank and Credit Suisse HDFC Bank is now more valuable than many European banks such as Barclays, ING, Royal Bank of Scotland, Credit Suisse and Deutsche Bank. Only five European banks are worth more than HDFC Bank, compared to 14 last year, as a result of the crisis in the continent’s banking system. At its current stock price, HDFC Bank is worth around $45 billion (Rs 3.02 lakh crore), more than twice ...Rediff.com, 2 months ago
The blockchain, the public ledger that tracks every bitcoin transaction, is changing commerce as we know it, says Devangshu Datta. Photograph: George Frey/Getty Images Columbus famously found a new continent while looking for a new route to reach an old one. Alexander Fleming discovered penicillin by leaving a petri dish unwashed. In years to come, the blockchain will be added to such lists of serendipitous discoveries. The blockchain is a digital ledger. It was invented to track a digital ...Rediff.com, 2 months ago
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