Finance Current Affairs

HDFC Securities launched Robo-advisory platform ‘HDFC Money’

Broking house HDFC Securities has launched HDFC Money, a robo-advisory investment platform that will offer mutual fund schemes and other financial products without the need of a demat account. Apart from mutual funds, one can also manage other aspects of finances such as accessing, managing, and tracking portfolios, starting goal planning, insurance planning, creating e-Wills […]

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Tata Capital launches digital loan against shares facility

The Tata Capital Ltd has launched ‘Loan Against Shares’ an end-to-end integrated digital financial offering. Aims: To provide customers with an easy and seamless experience Through this facility the customers can avail loans up to ₹5 crores by simply pledging their dematerialised shares online, facilitated by NSDL. The loan amount can be customized based on the value of shares in the portfolio of the customer.

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RBI decides to give ₹30,307 cr FY22 dividend to Centre

The RBI has approved a dividend payment of Rs. 30,307 crore to the Centre for the fiscal year 2021-22. The bank’s central board of directors also decided to maintain the contingency risk buffer (CRB) at 5.50%. In the 2022 budget, the government had estimated that it would receive Rs. 73,948 crore as dividend from the RBI and state-owned banks for FY22. The budgeted dividend is 27% lower

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Paytm sets up general insurance JV, plans to invest ₹950 cr in 10 years

Paytm has announced a Joint Venture general insurance company named as Paytm General Insurance Ltd (PGIL). Paytm parent One97 Communications said it has formed a joint venture general insurance company in which it plans to invest ₹950 crore in 10 years and to hold upfront equity stake of 74 per cent. PGIL will become a subsidiary of the Paytm. PGIL will seek

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S&P cuts India growth forecast for FY23 to 7.3%

S&P Global Ratings cut India’s GDP projection for the current fiscal to 7.3% from 7.8% on rising inflation and the Russia-Ukraine conflict. S&P Global Ratings suggestions: Central banks to raise rates more than what was currently priced in, risking a harder landing which includes a larger hit to output and employment. World Bank: 8% International Monetary Fund: 8.2% Asian Development Bank: 7.5%

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Nirmala Sitharaman chaired 7th Annual Meeting of Board of Governors of NDB

Finance Minister, Nirmala Sitharamana has chaired the 7th Annual Meeting of Board of Governors of NDB through video-conferencing in New Delhi. Theme 2022: “NDB: Optimising Development Impact”. FM Sitharamana has mentioned that India’s economic growth in the current financial year has been robust and is estimated to be 8.9%. Attended by: Brazil, China, Russia, South Africa and the newly joined members

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S&P Cuts India’s Economic Growth Forecast To 7.3% For 2022-23

S&P Global Ratings cut India’s growth projection for the current fiscal to 7.3 per cent from 7.8 per cent earlier on rising inflation and the longer-than-expected Russia-Ukraine conflict. S&P had in December last year pegged India’s GDP growth in 2022-23 fiscal, which began on April 1, 2022, at 7.8 per cent. For the next fiscal the growth has been pegged

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Morgan Stanley cuts India’s FY23 growth forecast to 7.6%

Morgan Stanley downgraded India’s growth forecast to 7.6% from 7.9% for FY2023 amid a slowdown in global growth, higher commodity prices and risk aversion in global capital markets. This 7.6% forecast is a baseline forecast for India while its bearish and bullish growth projections are 6.7% and 8%, respectively. For FY24, it lowered its growth forecast to 6.7% from

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Bharti AXA Life Insurance launched InspiHE₹: Financial literacy campaign

Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, announced the launch of its financial literacy campaign ‘InspiHE₹- enabling an empowered future’– a special initiative to spread financial awareness among women and enable them to make informed financial decisions

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GoI releases Rs 7,183.42 crore to 14 states as revenue deficit grant

The central government on Friday released Rs 7,183.42 crore as revenue deficit grant to 14 states including Andhra Pradesh, West Bengal, Rajasthan, Punjab, Assam and Kerala. The Department of Expenditure, Ministry of Finance released the money. This is the 2nd monthly instalment of Post Devolution Revenue Deficit (PDRD) grant to states. The grant has been released as per

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