FPSB India, Bharat Chamber of Commerce ink pact to boost financial planning education
The agreement, signed in Kolkata by FPSB India CEO Krishan Mishra and BCC Secretary General Keka Sharma, aims to expand access to the globally recognised certified financial planning (CFP) certification and encourage career opportunities in financial planning, a statement said.
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35 minutes ago
- News18
Rupee rises 40 paise to 87.25 against US dollar in early trade
Mumbai, Aug 1 (PTI) The rupee appreciated 40 paise to 87.25 against the US dollar in early trade on Friday, amid lower crude prices and suspected RBI interventions as the US's imposition of a 25 per cent tariff on Indian exports heightened investors' concerns. Forex traders said the US's imposition of a 25 per cent tariff on Indian exports triggered risk-off sentiment and heightened concerns regarding further rupee depreciation. Moreover, investors are focussed on US President Donald Trump's imposition of new, and mostly higher tariffs on US trading partners beginning August 1. At the interbank foreign exchange market, the rupee opened at 87.60 and touched an early high of 87.25 against the greenback, registering a gain of 40 paise from its previous close. On Thursday, the rupee recovered 15 paise from an all-time low level to close at 87.65 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.07 per cent to 100.03. 'The dollar headed for its best week in almost three years against its major peers, maintaining a momentum on Friday as Donald Trump imposed new tariff rates on dozens of trading partners," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Brent oil prices fell 0.97 per cent to USD 72.53 per barrel as traders digested the impact of new, higher US tariffs that may curtail economic activity and lower global fuel demand. 'On Thursday, the rupee made a low of 87.75 but closed at 87.5950 as RBI stepped in to cool off the market," Bhansali said. 'The Indian rupee, if protected by the Reserve Bank of India (RBI), may soon see levels of 87.00 in the days to come, but needs a close watch and on RBI's presence to keep it in a tightish range," he said. In the domestic equity market, Sensex declined 145.71 points or 0.18 per cent to 81,039.87, while Nifty fell 64.70 points or 0.26 per cent to 24,703.65. Foreign institutional investors (FIIs) offloaded equities worth Rs 5,588.91 crore on a net basis on Thursday, according to exchange data. On the domestic macroeconomic front, the centre's fiscal deficit stood at 17.9 per cent of the full-year target at the end of June, according to data released by the Controller General of Accounts (CGA) on Thursday. It was at 8.4 per cent of the Budget Estimates (BE) of 2024-25 in the first three months of the previous financial year. In absolute terms, the fiscal deficit, or gap between the government's expenditure and revenue, was Rs 2,80,732 crore in the April-June period of the 2025-26 fiscal year. PTI DRR DR DR view comments First Published: August 01, 2025, 10:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
35 minutes ago
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PNB Housing Finance MD & CEO Girish Kousgi resigns
Agency: New Delhi, Aug 1 (PTI) PNB Housing Finance Managing Director and Chief Executive Officer Girish Kousgi has announced his resignation and will step down from his role effective October 28, 2025. The board, while accepting his resignation noted that Kousgi will cease to be a director on the board of Directors of PHFL Home Loans and Services Ltd, and PEHEL Foundation — the subsidiaries of the company, with effect from October 28, 2025. In a regulatory filing on Friday, PNB Housing Finance said the company affirms that its strategic priorities, business focus, and growth trajectory remain firmly intact, based on the strong foundation that Kousgi has helped build. R Chandrasekaran, chairman of the nomination and remuneration committee of the board said, the company will initiate a rigorous, transparent and merit-based selection process to appoint a new leader who will further enhance the legacy of PNB Housing Finance. 'We are confident of identifying a suitable professional soon, who will further accelerate our strategic direction and long-term value creation," he said. PNB Housing Finance, promoted by Punjab National Bank, is the third largest housing finance company in India. For the first quarter ended June 30, 2025, the company reported a 23 per cent increase in its net profit to Rs 534 crore, as against Rs 433 crore in the same quarter of the previous year. The company's total income for the quarter grew to Rs 2,082 crore, from Rs 1,832 crore in the corresponding quarter of the previous fiscal year. Interest income for the quarter was higher at Rs 1,980 crore, compared to Rs 1,739 crore a year ago. The net interest income also saw a 17 per cent rise to Rs 760 crore at the end of Q1 2025, as against Rs 651 crore in the year-ago quarter. PTI DP DRR view comments First Published: August 01, 2025, 10:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
an hour ago
- News18
US announces 20% tariff on Sri Lankan exports
Agency: PTI Colombo, Aug 1 (PTI) The US has announced a 20 per cent tariff on Sri Lankan exports, marking a 24 per cent reduction from the initial rate proposed for the island nation. As the deadline for tariff negotiations ending on Friday, Sri Lankan officials were continuing talks to seek a further reduction. The tariffs will go into effect on August 7. In April, US President Donald Trump slapped a 44 per cent tariff on Sri Lankan goods, half of the 88 per cent duty Colombo had levied on US imports. The rate was then reduced to 30 per cent last month. Sri Lankan exporters who ship goods worth around USD 3 billion annually to the US were expecting tariffs below 20 per cent to remain competitive with regional rivals such as Vietnam and Bangladesh. PTI CORR GRS GRS GRS Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
