The State Bank of India (SBI) has approved a restructuring plan for Rashtriya Ispat Nigam Limited (RINL), the operator of the Vizag Steel Plant, marking a significant step in the company’s revival efforts. The plan includes lowering the margin money requirements and reducing interest rates on loans, made possible by a recent capital infusion from […]
Neelu Analjit Singh, the ex-wife of Max Group founder Analjit Singh, has formally requested to reclassify her shareholding in Max Financial Services from the “Promoter and Promoter Group” category to the “Public” category. She currently holds 100,000 equity shares in the company. This move follows a settlement agreement between Neelu and Analjit Singh, executed on
On April 9, 2025, the Reserve Bank of India (RBI) reduced its key repo rate by 25 basis points to 6.00%, marking the second consecutive rate cut this year. The Monetary Policy Committee (MPC) also shifted its policy stance from “neutral” to “accommodative,” indicating the possibility of further rate cuts to support the slowing economy,
Here’s a breakdown of both sides of the debate around fintech consolidation: 🔑 Fintech Consolidation: A Catalyst for Innovation? Pros: ⚠️ Or a Threat to Consumer Choice? Cons: ⚖️ So, What’s the Verdict?
A recent survey by H&R Block Canada reveals that 85% of Canadians are now living paycheque to paycheque, a significant increase from 60% in 2024. This trend is attributed to rising inflation, stagnant wages, and dwindling personal savings. Key Findings from the Survey: Indian immigrants in Canada are particularly affected. Darshan Maharaja, a Canada-based
The Indian stock market experienced a significant downturn today, with the BSE Sensex plunging over 3,200 points, marking a decline of approximately 4%. This sharp drop led to a substantial loss of investor wealth, estimated at around ₹20 lakh crore. Key Highlights: Possible Contributing Factors: While specific details are still emerging, several factors may
The recent imposition of a 27% tariff on Indian imports by the U.S. has intensified trade tensions between the two nations. This development has heightened concerns among both American and Indian businesses, which are urging their respective governments to address longstanding trade barriers to foster a more balanced and mutually beneficial economic relationship. American Businesses’
In April 2025, banks in Chennai will observe closures on 10 days due to public holidays and regular weekend offs. This includes the second and fourth Saturdays and Sundays, as well as specific public holidays. Detailed List of Bank Holidays in Chennai for April 2025: It’s advisable to plan your banking activities accordingly to avoid
Effective April 1, 2025, several banks in India have implemented changes to their banking policies, including adjustments to minimum balance requirements and interest rates on Fixed Deposits (FDs) and savings accounts. Here’s a comprehensive overview: 1. Revised Minimum Balance Requirements Banks such as State Bank of India (SBI), Punjab National Bank (PNB), and Canara Bank
Starting May 1, 2025, the Reserve Bank of India (RBI) has approved an increase in ATM interchange fees, which will result in higher charges for customers exceeding their free monthly transaction limits. Revised Charges: Free Transaction Limits: Transactions that fail due to technical reasons, such as hardware or software issues, non-availability of currency notes,
