PNB raising $1 billion for FCNR on-lending

Punjab National Bank is set to secure a substantial one billion dollars through a five-year loan arrangement. This initiative is being coordinated with international financiers to enhance participation. The loan will be eligible for the Reserve Bank of India's special swap facility. Indian banks are

UAE is poised to spearhead India's special FCNR(B) deposit scheme, with enticing dollar rates and beneficial tax incentives attracting considerable client interest. Bank officials project that more than ten billion dollars have already been sourced from the UAE. Although operational limitations for

Indian equity indices wrapped up July on a high note, achieving their best monthly performance in three months with significant gains. The robust corporate earnings played a critical role in alleviating fears related to rising oil prices. The Nifty and Sensex jumped over 2.5% in the week and nearly

Sebi has concluded legal actions against Religare Enterprises and its former chairperson. The regulator found no further directions were needed after the open offer. Proceedings were initiated alleging Religare failed to cooperate with the mandatory open offer. The company had questioned the Burm

India's foreign exchange reserves saw a significant rise of $6.1 billion. This increase occurred in the week ending July 24, reaching $682.3 billion. Inflows from the RBI's FCNR(B) deposit scheme contributed to this growth. Gold reserves also experienced an increase of $1.3 billion. Despite dollar s