Savers could see higher returns on bank deposits in the coming months as the cost of certificates of deposit (CDs), which had been viewed as a leading indicator for broader deposit rates, surged sharply in May amid tighter liquidity conditions and stronger demand for funds.One-year CD rates are currently quoting at 7.70 per cent, up…
Fuel price hikes impact the common man through several channels, leading to lower disposable income in hand, higher cost of travel. (AI image) Almost three months after the start of the US-Iran war, the economic fallout from the Middle East is beginning to hit home. Finance Minister Nirmala Sitharaman has expressed concern on 3Fs: fuel,…
In a posh to raise around Rs 5,000 crore for the exchequer, the government will sell up to a 2 per cent stake in Coal India through an offer for sale (OFS), with a floor price of Rs 412 per share, PTI reported.The sale comprises a base offer of 1 per cent equity and an…
Insurance regulator Irdai has directed insurers to link the remuneration of managing directors (MDs), chief executive officers (CEOs) and other senior executives to customer-centric outcomes, including claim responsiveness, grievance redressal and the overall financial health of the company, PTI reported.The Insurance Regulatory and Development Authority of India (Irdai) issued amendments under the IRDAI (Corporate Governance…
British oil giant BP has removed Albert Manifold as chairman less than a year after he took over the role, citing what it described as “serious concerns” over governance, oversight and conduct at the company, AFP reported.The company announced on Tuesday that board member Ian Tyler has been appointed interim chairman with immediate effect.“The board…
State-run Union Bank of India on Tuesday approved plans to raise up to Rs 8,000 crore through a mix of debt and equity instruments, PTI reported.In a regulatory filing to the BSE, the bank said its board had approved raising debt capital of up to Rs 5,000 crore through Basel III-compliant Additional Tier-1 bonds and/or…
Rising silver prices are not just pushing investment demand, they are also opening the door to a surge of impure silver bars and coins in the Indian market. The trend has raised concerns among industry stakeholders over widespread counterfeiting and lapses in quality standards. Precious metal refiners have now stepped up calls for the Bureau…
Capital markets regulator Sebi will examine whether disclosure requirements for debt-only listed entities need to be relaxed as part of broader efforts to deepen India’s corporate bond market, Chairman Tuhin Kanta Pandey said on Tuesday, PTI reported.Speaking at an event organised by CareEdge Ratings in Mumbai, Pandey said the regulator would also launch a pilot…
India and Canada are looking to fast-track negotiations for a proposed free trade agreement as both countries push to deepen economic engagement and raise bilateral trade to $50 billion by 2030.Canadian Prime Minister Mark Carney said that negotiations on the trade pact with India could prove transformational for businesses and workers in Canada.“We’re negotiating a…
India and the US on Tuesday signed a bilateral framework covering the supply, mining and processing of critical minerals and rare earth elements. The agreement was announced by external affairs minister S Jaishankar after bilateral discussions and the Quad Foreign Ministers’ meeting, where the issue also featured prominently.“We are today signing a bilateral India-US framework…