Finance News

Reserve Bank has accorded approval to HDFC Mutual Fund to raise its stakes in Federal Bank as well as in Equitas Small Finance Bank to up to 9.5 per cent. The clearance has been granted with reference to the application made by HDFC AMC to RBI, according to a regulatory filing on Thursday.

Partner status at Goldman Sachs is considered by some to be the pinnacle of Wall Street. Former partners explain why they walked away.

American Express CEO Stephen Squeri is in bed by 10:30, but he spends the three hours before that answering about 200 emails, he told the FT.

Peter Brown, CEO of Renaissance Technologies, said during a podcast discussion that his approach was different to competitors.

Gold exchange-traded funds (ETFs) attracted Rs 1,028 crore in August, making it the highest inflow in 16 months, amid continued hikes in interest rates in the US, which led to a slowing down in growth rate there. With this, the year-to-date inflow in the category has reached more than Rs 1,400 crore, data with the Association of Mutual Funds in India (Amfi) showed. Apart from inflow, the asset base of Gold ETFs and investors' account or folio numbers increased in the period under review.

The rupee witnessed range-bound trading against the US dollar in early trade on Monday, weighed down by a negative trend in domestic equities, elevated crude oil prices and strong American currency. At the interbank foreign exchange, the rupee opened at 83.09 against the dollar, registering a rise of 7 paise over its previous close. The domestic unit also touched 83.13 against the American currency in initial trade.

Lord Ganesha, known for his role in Hindu mythology as the remover of obstacles and the deity of wisdom and prosperity, imparts not only spiritual guidance but also valuable financial insights. Here we look at five financial principles we can learn from Lord Ganesha. Lord Ganesha's iconic elephant head, representing wisdom and intellect, reflects the financial wisdom found in careful planning and preparedness.

Françoise Bettencourt-Meyers.Martin Bureau/AFP/Getty Images Françoise Bettencourt Meyers inherited a one-third stake in L'Or...

​​With a couple of weeks to go before the deadline to deposit ₹2,000 banknotes, e-commerce giant Amazon has said that it has discontinued accepting them. The last RBI update says that 93% of the ₹2,000 notes are back with the central bank. The ₹2,000 notes were first introduced during the demonetisation exercise.

Citigroup's massive reorg highlights the threat big banks are under. Google is cutting more jobs, and details on how Microsoft decides employee pay.

​​Analysts may be worried about rising stress in the retail assets of banks, but ICRA is of the view that the sector is resilient and that credit growth is expected to remain strong. Incremental credit growth expected to remain robust at Rs. 16.5-18.0 trillion in FY2024, despite marginal slowdown. NIMs expected to compress by 20-25 bps, though benign credit costs and lower operating expenses to provide support.

"It's going to make some of our people very uncomfortable. I am absolutely fine with that," CEO Jan Fraser said on Wednesday.

The government has exempted units of investment trusts and ETFs issued by entities based in GIFT City or traded in exchanges there from capital gains tax. The Central Board of Direct Taxes (CBDT) notified the exemption from capital gains tax any unit of investment trust; a unit of a scheme; and a unit of an Exchange Traded Fund (ETF) launched under the International Financial Services Centres Authority (Fund Management) Regulations, 2022.

New Delhi, Gold plunged Rs 350 to Rs 59,650 per 10 grams in the national capital on Wednesday amid weak cues in global markets, according to HDFC Securities. The yellow metal had ended at Rs 60,000 per 10 grams in previous trade. Silver also nosedived Rs 1,000 to Rs 73,400 per kg.

A therapy-informed financial advisor is helping me with my debt. I realized my financial anxiety is holding me back from a healthy relationship.

Top fintech investors from QED Investors, Point72 Ventures, and Bain Capital Ventures identify the most promising startups for 2023.

Retail inflation declined to 6.83% in August compared to 7.44% July, mostly due to easing vegetable prices. This year’s August print also came in lower than 7% seen in the same month last year. Food inflation lowered to 9.94% in August as compared to 11.51% in July. Apart from softer vegetable prices, slide in prices of meat and egg products and fish also aided lower food inflation print.

Finance Minister Nirmala Sitharaman on Monday said India and the UK are exploring the possibility of listing debt instruments and shares at IFSC-GIFT City and the London Stock Exchange (LSE). The UK has expressed its willingness to further expand its footprint in the IFSC-Gujarat International Finance Tec-City (GIFT City) and foster robust fintech partnership, Sitharaman said after the conclusion of the 12th India-UK Economic and Financial Dialogue.

Despite the stigma against prenups, financial experts see a different side to the agreements and think all couples should consider them.

Norway raised its wealth tax from 0.85% to 1.1% last year, prompting the departure of some of its most affluent citizens.

Erlend Bore's metal detector found what he thought were chocolate coins. They turned out to be rare jewelry dating back 1,500 years, but he can't keep it.

Russian oligarchs are still rich. The West hoped that slapping sanctions on Russia's billionaires could help trigger a Kremlin coup sooner or later, but that prospect seems unlikely.