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The Deloitte company logo is seen at their office in Gurugram. FIle | Photo Credit: Reuters Deloitte is planning to resign as auditor of Adani group’s port company, a move that comes weeks after it raised concern over certain transactions flagged in a report of a U.S. short seller. Deloitte Haskins & Sells LLP has…
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Reserve Bank of India (RBI) Governor Shaktikanta Das addresses G-20 Finance Track seminar on ‘Global Economy: Challenges, Opportunities and the Way Forward’, in Mumbai on August 11, 2023. | Photo Credit: ANI Reserve Bank Governor Shaktikanta Das on August 11 pitched for the “expeditious completion” of the 16th general review of the quotas at the…
Read More “RBI Governor Shaktikanta Das calls for expeditious completion of IMF quota review” »
The rupee depreciated by 19 paise to settle at 82.85 (provisional) against the U.S. dollar on Friday amid weak sentiment in the equity markets and a strong dollar against major rivals overseas. Foreign fund inflows and softening crude prices, however, supported the Indian currency even as investors were awaiting India’s industrial output number, to be…
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Benchmark equity indices Sensex and Nifty declined for a second straight day on Friday due to losses in HDFC Bank and ICICI Bank and a negative trend in Asian and European markets. The trend in the domestic market remained weak post the RBI monetary policy and the unexpected announcement of reducing cash in the banking…
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Photo used for representation purpose only. | Photo Credit: K. Pichumani India’s industrial output growth hit a three-month low of 3.7% in June, from a revised 5.3% in May, according to official data, with consumer durables’ production slipping back into contraction mode, and manufacturing growth slowing to 3.1% from 5.8% in May. The data released…
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Image used for representational purpose only. | Photo Credit: S. Siva Saravanan Gross direct tax collection grew 15.73% to ₹6.53 lakh crore till August 10 in the current fiscal, the Income Tax department said on August 11. Net direct tax collection after adjusting refunds stands at ₹5.84 lakh crore, which is 17.33% higher than the…
Read More “Direct tax collections rise 16% to ₹6.53 lakh crore till August 10 in FY24” »
Indian Rupee notes are seen in this picture illustration taken in Mumbai June 12, 2013. File. (For Representational purpose only) | Photo Credit: Reuters The rupee depreciated by 8 paise to 82.74 against the US dollar in early trade on Friday, tracking a firm dollar against major rivals overseas. Analysts said, weak sentiment in the…
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The story so far: In the recently concluded Federal Open Market Committee meeting held on 26 July 2023, it was decided to increase the targeted federal funds rate to 5.25- 5 5%, i.e., yet another increase of the cost of funds by 25 basis points. With this, the federal funds rate has reached levels higher…
Read More “Explained | Will the Federal fund hike impact developing country debt?” »
Benchmark equity indices declined on Thursday post the RBI monetary policy, dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the U.S. inflation data announcement. The Reserve Bank of India (RBI) on Thursday left its key interest rates unchanged for…
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Gold price declined ₹250 to ₹59,800 per 10 grams in the national capital on August 10 amid weak cues in the overseas market. | Photo Credit: REUTERS Gold price declined ₹250 to ₹59,800 per 10 grams in the national capital on August 10 amid weak cues in the overseas market, according to HDFC Securities. The…
Read More “Gold declines ₹250 to ₹59,800/10 grams; silver tumbles ₹300” »