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Gold reserves decreased by USD 1.015 billion to USD 55.967 billion. Mumbai: India’s forex reserves dropped by USD 2.922 billion to USD 652.895 billion for the week ended June 14, the Reserve Bank said on Friday. In the previous reporting week, the kitty had jumped by USD 4.307 billion to USD 655.817 billion, a new…
Read More “India’s Forex Reserves Drop By $2.92 Billion, Now At $652.8 Billion: RBI” »
The RBI said it purchased nearly $8 billion and sold $11.6 billion. (Representational) Mumbai: The Reserve Bank of India (RBI) sold $3.65 billion on a net basis in the spot foreign exchange market in April, data released on Wednesday as part of the central bank’s monthly bulletin showed. The RBI said it purchased nearly $8…
Read More “RBI Sold Net $3.6 Billion In Spot Forex Market In April” »
The latest Fitch Ratings has cited a recovery in consumer spending and increased investment. File photo | Photo Credit: The Hindu Fitch Ratings on Tuesday, June 18, 2024, raised India’s growth forecast for current fiscal to 7.2 per cent, from 7 per cent projected in March, citing a recovery in consumer spending and increased investment….
Read More “Fitch raises India’s growth estimates for FY25 to 7.2%” »
RBI Governor Shaktikanta Das on June 7, 2024, said the Monetary Policy Committee has decided to keep the repo rate unchanged at 6.5%. File | Photo Credit: ANI The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 6.5%. The decision, taken at the…
Read More “RBI MPC Meeting: Repo rate unchanged at 6.5% for 8th time in a row” »
Volume-wise, the Rs 500 denomination was the highest at 5.16 lakh notes. Mumbai: The share of Rs 500 denomination currency notes in overall currency has jumped to 86.5 per cent at the end of March 2024, as against 77.1 per cent in the year-ago period, the Reserve Bank of India (RBI) said on Thursday. The…
Read More “Share Of Rs 500 Note Jumps To 86.5% After Rs 2,000 Note Withdrawn: RBI” »
The Reserve Bank’s Annual Report for 2023-24 said that the Indian economy is navigating the drag from an adverse global macroeconomic and financial environment. | Photo Credit: REUTERS Indian economy is likely to grow at 7% in the current fiscal year starting April, the Reserve Bank of India (RBI) said in its annual report released…
Read More “RBI annual report 2023-24: Central bank sees real GDP growth at 7% in FY25” »
Benchmark equity indices climbed in early trade on Thursday, May 23, 2024, amid buying in blue chips Larsen & Toubro and Reliance Industries. The 30-share BSE Sensex climbed 41.65 points to 74,262.71 in early trade. The NSE Nifty went up by 20.1 points to 22,617.90. The BSE benchmark later traded 225.06 points higher at 74,456.44…
Read More “Markets climb in early trade with Larsen, Reliance support” »
Representational Image New Delhi: Digital payments firm Paytm posted a wider loss in the fiscal fourth quarter on Wednesday, hurt by weakness in its payments and financial services business after the central bank shut down its banking unit. The company’s consolidated net loss was at Rs 5.5 billion as it took an impairment of Rs…
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” »
Eligible small finance banks will have to provide a detailed rationale for the transition The Reserve Bank of India (RBI) on Friday released a set of criteria that small lenders need to achieve, including performance metrics and market listing, to become a universal bank and provide comprehensive services to both retail and corporate clients. The…
Read More “RBI Lays Out Roadmap For Small Lenders To Achieve Universal Bank Status” »