Singaporean brokerage firm DBS cited the recent fall in the rupee as a potential risk to the sovereign rating of the country, saying a risk of downgrade to junk status continues to be a possibility.
Rate hike a blow to sector: Kidwai
As the weak rupee raises pressure on RBI to hike interest rates, HSBC country head Naina Lal Kidwai said any increase would be a ?body blow? to industry and growth. ?I hope it stays stable because interest rate going up will be a body blow to industry and industrial growth,? said Kidwai.
ARLI, Yes Bank tie up on premium payment
Private insurer AEGON Religare Life Insurance (ARLI) said it has tied up with YES Bank for premium collection. The objective of this initiative is to offer customers with another convenient mode to pay their renewal premium and new business premium across the network of YES Bank branches, ARLI said in a release issued here.
ICICI Bank, Movida tie up for bill payment
Movida, the mobile payments joint venture between Visa and Monitise, said private bank ICICI Bank will utilise its payment services.
Ezetap launches card swipe machine
Ezetap launched the first locally manufactured and globally certified mobile point of sale device, also known as debit or credit card swipe machine, for less than $50. ?Competing head-to-head against global payment companies using devices manufactured in China in the fast-growing Mobile Point-of-Sale market,? co-founder and CEO of Ezetap Abhijit Bose said.
HPCL-Mittal Energy?s NCD rated ?IND-AA?
India Ratings and Research has assigned HPCL-Mittal Energy Ltd?s (HMEL) R500 crore non-convertible debenture (NCD) programme a final rating of ?INDAA-?. HMEL, a joint venture of state-owned Hindustan Petroleum Corp and Mittal Investment Sarl, is planning to raise R500 crore through a debenture issue to repay a part of its existing loan.