Share info on banks offering rupee trade: Fieo to RBI
This enables exporters and importers to invoice and pay in their respective domestic currencies enabling the development of a bilateral foreign exchange market.
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Apollo Micro Systems acquires IDL Explosives for Rs 107 crore to expand defence manufacturing
Apollo Micro Systems, via its subsidiary Apollo Defence Industries, has signed a share purchase agreement to acquire 100% of IDL Explosives Limited for ₹107 crore.
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Finance Secretary moots rating state govt debt
Finance Secretary Ajay Seth proposed rating state government securities based on fiscal behavior to encourage financial discipline. He highlighted the need for a market-driven mechanism to differentiate borrowing costs and curb off-budget borrowings. Seth also mentioned India’s push for improved…
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Gold-loan fintech firms spot a glimmer in RBI’s draft rules
Bengaluru-based Rupeek, Chennai-headquartered Oro Money, Noida’s Indiagold and Manipal Fintech of Gurugram are a few of the major startups operating in this space. Earlier this year Manipal Fintech onboarded Puja Abhishek Singh as its new chief executive officer. Singh joined…
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Oyo puts off third IPO attempt after SoftBank takes issue
Oyo Hotels has postponed its India listing plans for October. SoftBank disagreed with the IPO plan, asking for stronger earnings first. Oyo previously attempted to go public in 2021 and March 2023. Ritesh Agarwal faces a debt repayment deadline if…
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Wall Street climbs on strong jobs data, tariff optimism
U.S. stock indexes surged on Friday, fueled by robust April payroll data and easing U.S.-China trade tensions, propelling the S&P 500 towards its longest winning streak in over two decades. The strong employment report alleviated recession fears, while Beijing’s willingness…
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