Finance

Tough times for private banks

Tough times for private banks

Finance
Updates from :  The Hindu : ICICI, Axis, Kotak, Bandhan and Yes hit the headlines for the wrong reasons For high street private sector bankers, 2018 was a year they will want to forget quickly. For the first time perhaps, they are under the public glare for the wrong reasons. It started with the bad loan problem of the public sector banks having a spillover effect in terms of public perception on private sector banks. However, the image of private banks among investors and the public took a real hit over the course of the year. It started with ICICI Bank. Allegations of conflict of interest were levelled against the bank’s MD and CEO Chanda Kochhar for allegedly favouring a corporate entity to which her husband had financial links. Ms. Kochhar finally decided to resign in
Rupee rises 14 paise to 71.82 against US dollar in early trade

Rupee rises 14 paise to 71.82 against US dollar in early trade

Finance
Updates from :  The Hindu : At the Interbank Foreign Exchange, the rupee opened on a weak note at 71.80 against the US dollar, then lost further ground and fell to 71.82 showing a decline of 14 paise over it’s previous closing. The rupee on Friday depreciated by 14 paise to 71.82 in early trade on the forex market as the American currency strengthened, while the domestic equity market opened on a weak note. Forex traders said strengthening of the US dollar against some currencies overseas and caution ahead of RBI central board meeting under new Governor Shaktikanta Das, weighed on the local unit. At the Interbank Foreign Exchange, the rupee opened on a weak note at 71.80 against the US dollar, then lost further ground and fell to 71.82 showing a decline of 14 paise over it’s
Rupee falls 10 paise to 70.89 against U.S. dollar in early trade

Rupee falls 10 paise to 70.89 against U.S. dollar in early trade

Finance
Updates from :  The Hindu : The rupee opened lower at 70.88 per dollar against and dropped further to quote at 70.89, 10 paise down over its previous close. The rupee depreciated by 10 paise to 70.89 against the U.S. dollar in early trade on Wednesday at the interbank foreign exchange amid strengthening of the U.S. dollar against some currencies overseas. Forex traders said besides increased demand of the US currency from importers, the dollar’s strength against some currencies overseas weighed on the rupee but a higher opening of the domestic equity markets, capped the losses. The rupee opened lower at 70.88 per dollar against and dropped further to quote at 70.89, 10 paise down over its previous close. The rupee recovered by 8 paise to close at 70.79 against the U.S. dollar o
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