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A currency trader is pictured through the symbol for the Indian Rupee on the floor of a trading firm in Mumbai. Image for representation | Photo Credit: REUTERS The rupee appreciated by 6 paise to 83.31 against the U.S. dollar on Tuesday amid softening crude oil prices in the international market. Forex traders said, however,…
Read More “Rupee rises 6 paise to 83.31 against U.S. dollar in early trade” »
Representational image of a traffic signal in the foreground of the Bombay Stock Exchange on Dalal Street. File Equity benchmark indices declined in early trade on Tuesday in line with weak trends from Asian markets and fresh foreign fund outflows. The BSE Sensex declined 218.11 points to 73,787.83. The NSE Nifty dipped 97.45 points to…
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Stifel projects that the UK’s oil and gas output would halve by 2030. File | Photo Credit: Reuters North Sea oil and gas producers are merging and shifting overseas as Britain’s windfall tax slashes profits and as the Opposition Labour Party threatens more tax if it wins the next general election. The change of strategy…
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Participants in the United States’ multitrillion-dollar securities markets face an early test of their ability to cope with regulatory reforms to speed up trade settlement, as a major index rebalance scheduled to occur just days after the planned switch risks causing a spike in failed trades. Starting May 28, U.S. stocks and corporate bonds must…
Read More “U.S. stock settlement switch could face an early resilience test” »
Representational file image | Photo Credit: Kamal Narang The Supreme Court has given a major relief for telecom service providers, including Bharti Airtel, Reliance and Vodafone Idea, by waiving off interest due on income tax arising from an October 16, 2023 judgment, which held that telecom licence fee should be treated as entirely “capital in…
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Spices Board Assistant Director, K.A. Anil Kumar, inaugurating the women-owned cardamom company at Puttady Spices Park in Idukki. | Photo Credit: SPECIAL ARRANGEMENT A collective of women cardamom farmers has established a cardamom auction company under the auspices of the Spices Board of India – the first such company to be fully controlled by women….
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The story so far: To strengthen the existing regulatory framework for long gestation period financing for projects such as infrastructure, non-infrastructure and commercial real estate sectors, the Reserve Bank of India (RBI) issued draft regulations for consultation earlier this month. The regulations endeavour to provide a “harmonised prudential framework” for financing projects. It also proposes…
Read More “RBI’s proposed framework to administer project financing | Explained” »
Illustration for The Hiindu The story so far: The Reserve Bank of India (RBI) earlier this month asked gold loan lenders to stick to regulatory norms while lending in a bid to tighten its grip over Non-Banking Financial Companies (NBFCs). The RBI has increased its scrutiny of NBFCs after it found certain NBFCs to be…
Read More “Why is RBI keeping an eye on gold loans? | Explained” »
Offering loans against gold has become popular in the recent years due to ease of process, lesser documentation, rapid availability of funding, and a variety of repayment options. File | Photo Credit: Reuters Banks have instructed their branches to ensure that gold loans availed of by customers are repaid and closed, and not renewed or…
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Boxes of Everest fish curry masala are stacked on the shelf of a shop at a market in Srinagar, April 23, 2024. File Photo | Photo Credit: Reuters After Singapore and Hong Kong, Nepal has also banned the sale and import of certain spice-mix products manufactured by Indian brands over alleged quality concerns. Four spice-mix…
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