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Lower underwriting loss, higher investment income, GIC Re posts Rs 3,749 crore PAT

Lower underwriting loss, higher investment income, GIC Re posts Rs 3,749 crore PAT

09-02-2023  comments

Chennai (IANS) Driven by higher investment income and lower underwriting loss and despite a lower premium, India's national reinsurer General Insurance Corporation of India (GIC Re) on Thursday said it closed the nine months, ended December 31,…

RBI hikes repo rate by 25 bps, inflation outlook mixed

RBI hikes repo rate by 25 bps, inflation outlook mixed

08-02-2023  comments

Chennai (IANS) The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Wednesday hiked the repo rate by 25 basis points to 6.50 per cent.

Wednesday's MPC meeting is the last one for this fiscal.

The repo rate is…

One client will not affect Indian banking system: RBI Governor on Adani row

One client will not affect Indian banking system: RBI Governor on Adani row

08-02-2023  comments

Chennai (IANS) An individual client -- Adani Group -- will not bring down the Indian banking system as the country's banking sector is resilient and strong, Reserve Bank of India (RBI) Governor Shaktikanta Das said.

Queried about the Indian…

With vote split, RBI's MPC might hike repo rate by 25 bps: Experts

With vote split, RBI's MPC might hike repo rate by 25 bps: Experts

07-02-2023  comments

Chennai (IANS) Will there be a convergence or divergence among the members of the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on the 25 basis points (bps) policy rate hike, experts debate.

However, the experts believe…

Adani Ports Q3 net down at Rs 1,336.51 crore

Adani Ports Q3 net down at Rs 1,336.51 crore

07-02-2023  comments

Chennai (IANS) Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday said it closed the third quarter of FY23 with a lower net of Rs 1,336.51 crore.

The company is mulling loan repayment/prepayment of Rs 5,000 crore during next fiscal,…

Adani row: Limited risks for Indian banks, no impact on sovereign ratings, says Fitch Ratings

Adani row: Limited risks for Indian banks, no impact on sovereign ratings, says Fitch Ratings

07-02-2023  comments

Chennai (IANS) Global credit rating agency Fitch Ratings on Tuesday said that Indian banks' exposure to the Adani group do not present any major risk to the banks' standalone credit profiles.

In a statement issued the credit rating…

ONGC in talks with ExxonMobil, Equinor for exploration technology sharing

ONGC in talks with ExxonMobil, Equinor for exploration technology sharing

07-02-2023  comments

Bengaluru (IANS) State-owned explorer Oil and Natural Gas Corporation Ltd (ONGC) is in talks with global majors like American oil and gas giant ExxonMobil and Norwegian energy multinational Equinor on technology sharing for revamping its exploration…

India's economy already 10% more energy efficient than G20 average: IEA

India's economy already 10% more energy efficient than G20 average: IEA

06-02-2023  comments

New Delhi (IANS) India's economy is already 10 per cent more energy efficient than both the global and G20 average. India took less time to go from half to full electricity access than other major economies, the International Energy Agency (IEA)…

Capital amounting Rs 2,76,043 crore infused in PSBs since FY2017-18

Capital amounting Rs 2,76,043 crore infused in PSBs since FY2017-18

06-02-2023  comments

New Delhi (IANS) Capital amounting to Rs 2,76,043 crore infused in public sector Banks (PSBs) since FY 2017-18, has been funded through recapitalisation bonds issued by the Central government and subscribed by the recapitalised banks for the full…

BYJU's to miss March 2023 deadline for group level profitability, results delayed again

BYJU's to miss March 2023 deadline for group level profitability, results delayed again

06-02-2023  comments

New Delhi (IANS) Edtech firm BYJU's will not be able to meet its March 2023 deadline to achieve group-level profitability, as it envisioned in its earnings in October last year, reliable sources said on Monday. On top of it, its results for most…

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