The Rupee crashed by 76 paise, yet again against the American Dollar on June 17 2021, Thursday. The Indian currency now settles at 74.08 amongst a much stronger US currency after the US Fed reserve signalled an interest rate hike, which was earlier than expected. INR depreciated for the eighth session in a row. Meanwhile, …
The private lending institution, ICICI Bank, managed to raise over Rs. 2827 crores through bond issuance on a private placement basis. ICICI Bank’s Board of Directors approved of this fundraising endeavour in April. As per the regulatory filing, the private lending institution allotted a total of 28,274 senior unsecured redeemable long-term bonds, made available in …
Back in February, economists at ING predicted that the US Federal Reserve’s June meeting would be pivotal. They speculated the assembly would stir a change in the US central bank’s tone regarding financial policies, which are in place since the beginning of the pandemic. The Federal Reserve lived up to that hype. During this meeting …
The global beverage giant Coco-Cola’s market value dipped by $4 billion after the Portuguese footballer Cristiano Ronaldo pulled a stunt at a press conference in Budapest this Monday. The football star, widely acknowledged as a health enthusiast, created a stir during the Portugal and Hungary pre-match press conference involving two Coco-Cola bottles. In a turn …
The talks of the re-entry of Softbank in Walmart-owned Flipkart have stirred up curiosity among investors. Especially when the Indian retail giant was all set to change its status from a Pvt Ltd. to a Public Company by the fourth quarter of 2021. So, why is Softbank so keen on investing in Flipkart after it …
India’s Wholesale Price Index (WPI) data for May showed that WPI based inflation rose to a record peak of 12.94 per cent, on the back of rising commodity and fuel prices, apart from the effect of low base. This also meant that the Consumer Price Index (CPI) retail inflation shot up in May, recording 6.30 …
An Overview of RBI’s Plans As the central bank seeks to accommodate roles for entities other than traditional banks and non-banking finance businesses, India’s booming digital banking ecosystem may eventually fall under a more defined regulatory and supervisory authority. The Reserve Bank of India (RBI) has formed an internal committee to investigate the breadth of …
Capital markets regulator SEBI plans to create a separate framework for Special Purpose Acquisition Companies (SPAC) to let them raise funds via initial public offerings (IPOs) and get listed. As per current norms, only operating companies are allowed to be listed. Currently, for public listing, a company needs to have assets of at least Rs …
An Overview of FPIs Comeback The country is witnessing net inflows of foreign portfolio investment (FPI) due to strong fundamentals, a positive policy environment, and a faster-than-expected economic recovery. In April, FPIs became net sellers, but the tide has since flipped again. As risk-on attitude improved with diminishing pandemic cases and anticipation of an early …
Global IT giant Accenture acquired Umlaut, an engineering consulting firm based in Aachen, Germany, on 14 June 2021. According to an official statement, this acquisition will help Accenture boost its deep engineering abilities so companies can use various digital technologies like artificial intelligence, cloud, 5G, et al. The financial specifics of this acquisition are yet …
