Finance - The Purbottar

12 Feb

RBI Clears ICICI AMC to Raise Stake in HDFC Bank Up to 9.95%

editorFinance

The Reserve Bank of India (RBI) has granted approval to ICICI Prudential Asset Management Company (ICICI AMC) and other ICICI Group entities to increase their stake in HDFC Bank up to 9.95%, according to a regulatory filing by HDFC Bank on Wednesday.As of February 6, ICICI Group entities collectively held a 4.07% stake in HDFC Bank, India’s largest bank by market capitalization, currently valued at around $157 billion. The approval follows an application submitted by ICICI AMC and will remain valid for a period of one year.Under the RBI’s conditions, ICICI and its group entities must ensure that their combined…

07 Feb

Kotak Mahindra Bank Denies Submitting Financial Bid for IDBI Bank Stake

editorFinance

Kotak Mahindra Bank on Saturday clarified that it has not submitted any financial bid in the ongoing strategic disinvestment process of IDBI Bank Ltd, responding to recent media reports that led to a sharp movement in its share price.In a regulatory filing, the private sector lender said the clarification was issued under Regulation 30(11) of the SEBI Listing Regulations, 2015, following news reports published on February 6, 2026. The bank noted that the disclosure was made after observing material movement in its stock price on the same day.Kotak Mahindra Bank has not submitted a financial bid as part of the…

06 Feb

RBI Holds Repo Rate at 5.25%, Maintains Neutral Policy Stance

editorFinance

The Reserve Bank of India on Friday kept the repo rate unchanged at 5.25% after the conclusion of its three-day Monetary Policy Committee (MPC) meeting held from February 4 to 6. The committee, led by Governor Sanjay Malhotra, also decided to retain a neutral policy stance, signaling a cautious approach amid evolving economic conditions.The decision comes at a time when growth expectations have strengthened following the Union Budget’s emphasis on higher government spending and renewed optimism around India–US trade ties after US President Donald Trump announced a trade deal with New Delhi. These developments have supported market sentiment and raised…

15 Dec

US Federal Reserve Cuts Key Rates for Third Consecutive Time

Mohini BarmanFinance

The US Federal Reserve announced it has reduced its benchmark interest rates for the third consecutive time in a bid to stimulate the US economy. The global financial reaction was swift, with the Indian Rupee (INR) immediately dipping to a record low of ₹90.42 against the US Dollar (USD) on the news. This movement highlights the significant impact of US monetary policy decisions on international currency markets, particularly in emerging economies.

10 Oct

Tata Capital IPO allotment status finalised!

Purbalee DuttaFinance

The highly anticipated initial public offering (IPO) of Tata Capital Ltd, a Tata Sons subsidiary, attracted fair interest from investors. The subscription window was open from October 6 to 8, and the IPO allotment was finalized on October 9. Tata Capital shares are set to list on October 13 on both the BSE and NSE. With the allotment completed, equity shares will be credited to successful bidders’ demat accounts, while refunds for unsuccessful applicants will be processed on October 10. Investors can check the allotment status via the BSE, NSE, or the IPO registrar’s website—MUFG Intime India Pvt. Ltd. As…

16 Aug

Mahindra BE 6 Batman Edition Looks All Sinister

Purbalee DuttaFinance

Mahindra & Mahindra has teamed up with Warner Bros., the studio behind DC Comics films, to unveil a special edition of its first electric SUV—the BE 6 Dark (Batman Edition). This limited-edition model stands out from other “dark” variants with design elements inspired by the iconic Batman films and comics. Priced at ₹27.79 lakh, the BE 6 Batman Edition is limited to just 300 units. Bookings open on August 23, with deliveries beginning September 20 to mark Batman Day. The SUV features a satin black exterior, Batman-themed decals, and Dark Knight badging on various parts including the fender, bumper, and…

13 Aug

BSE SME Stock Leo Dryfruits Rises 45% Against IPO Price

Purbalee DuttaFinance

Shares of BSE SME-listed Leo Dryfruits have jumped 45% since their IPO, currently trading at ₹75.40 compared to the issue price of ₹52. Listed in January 2025, the stock has steadily attracted investor interest on the back of strong business progress and market performance. The ₹25.12 crore IPO involved the issue of 48.30 lakh fresh equity shares and saw an enthusiastic response from all investor categories, making it a successful debut on the SME platform. IPO Details and Stock Movement:Held between January 1–3, 2025, with a price range of ₹51–52, the IPO was subscribed a massive 181.77 times overall. Non-institutional…

04 Aug

Axis Bank Devalues Dining Delights With EazyDiner: New Terms Effective From August 1

Purbalee DuttaFinance

One of the often-overlooked perks of Axis Bank credit cards is the exclusive discounts through EazyDiner, available across all card variants. While discount rates vary from basic to premium cards, there’s something for every cardholder. Premium cards traditionally offered extra benefits like enhanced birthday discounts, Postcard Hotels vouchers, and complimentary EazyDiner memberships. Recently, Axis Bank revamped its Dining Delights program with EazyDiner, removing some discontinued cards and simplifying the structure. Notably, the Axis Magnus Credit Card has lost its premium status. It no longer qualifies for the high-net-worth individual (HNI) discount tier or birthday offers. Similarly, the Axis Bank Miles…

05 Jan

HDFC Bank collaborates with Microsoft as part of its digital transformation

Business Correspondent0 CommentsFinance

HDFC Bank, India’s largest private sector bank, is partnering with Microsoft in the coming phase of its digital metamorphosis trip and unleashing business value by transubstantiating the operation portfolio, contemporizing the data geography and securing the enterprise with Microsoft Cloud. HDFC Bank as a part of its unborn Ready strategy is developing in house IPs as well as partnering with several companies including FinTechs ’ to co- produce technology IPs. HDFC Bank as a part of its unborn Ready strategy is developing in house IPs as well as partnering with several companies including FinTechs ’ to co- produce technology IPs.…

03 Jan

SBI Card And Punjab & Sind Bank Join Hands To Launch Co-Branded Credit Cards

editor0 CommentsFinance

Public sector bank Punjab and Sind Bank (PSB) has partnered with SBI Card to launch co-brand credit cards for the bank’s customers. PSB has additionally entered the mastercard market as a brand new product section in its portfolio as a results of this collaboration. 3 card variants—the PSB SBI Card ELITE, PSB SBI Card PRIME, and PSB SimplySAVE SBI Card—have been launched by each partners. This collaboration additionally marks the entry of PSB into ‘credit cards’ as a brand new product section beneath the bank’s portfolio.The connection value for the PSB SBI Card ELITE is Rs 4,999 and taxes, the…