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Detailed instructions regarding addition of new DLAs or deletion of any existing DLA, shall be issued shortly,” RBI governor Shaktikanta Das said. | Photo Credit: Reuters To aid borrowers in verifying the claim of Digital Lending App’s (DLAs) association with Regulated Entities (RE), the Reserve Bank of India (RBI) is creating a public repository of DLAs…
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In the domestic equity market, the 30-share BSE Sensex hit an all-time high, rising 355.7 points or 0.44%, to 81,688.42 in early trade on July 29. | Photo Credit: Reuters The rupee appreciated by 2 paise to trade at 83.72 against the U.S. dollar in the early session on July 29 amid a weak dollar…
Read More “Rupee rises 2 paise to 83.72 against U.S. dollar in early trade” »
The RBI indicated that the interest rates offered by the Union government on two of India’s most popular small savings schemes continue to languish below the rates they should have earned as per a formula-based system adopted since April 2016. File | Photo Credit: Reuters The interest rates offered by the Union government on two of…
Read More “PPF returns still languishing lower than formula-based rates: RBI ” »
A logo of RBI inside its office in New Delhi. File | Photo Credit: Reuters Microsoft said on July 19 that it is investigating a host of issues with Azure in the Central U.S. region, but users in India, and globally, are also raising complaints. The outage has caused disruptions in air traffic, forcing airports…
Read More “Microsoft CrowdStrike outage: Only 10 banks and NBFCs had minor disruptions, says RBI” »
As of the end of March 2024, NBFCs had a CRAR of 26.6%, a GNPA ratio of 4.0% and a return on assets (RoA) of 3.3%. (Representational image only) Ahead of the upcoming Union Budget scheduled to be presented on July 23, the Non-Banking Financial Company (NBFC) sector is expecting enhanced financial inclusion and reinforcing digitalisation…
Arvind Virmani, NITI Ayog member. File | Photo Credit: Special arrangement “The Indian economy will grow around 7% in the current fiscal year and is on track to maintain a similar growth rate for several years,” NITI Aayog member Arvind Virmani said on July 12. Mr. Virmani said there are new challenges facing the country…
Read More “India to clock GDP growth of 7% in FY25: NITI Aayog member Arvind Virmani” »
The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai.File | Photo Credit: Reuters The Reserve Bank of India (RBI) in a notification issued on Wednesday evening allowed resident individuals to open Foreign Currency Account (FCA) in International Financial Services Centres (IFSCs) at GIFT City in Gujarat…
Read More “RBI allows resident Indians to open Foreign Currency Accounts in IFSC, Gujarat” »
Indian twenty rupee currency notes are displayed at a roadside currency exchange stall in New Delhi. | Photo Credit: REUTERS The rupee traded in a narrow range and appreciated 2 paise to 83.49 against the U.S. dollar in early trade on July 11, as a positive trend in domestic equities supported the local unit, while…
Read More “Rupee rises 2 paise to 83.49 against U.S. dollar in early trade” »
The Reserve Bank of India. File | Photo Credit: Reuters The Reserve Bank’s FI-Index, capturing the extent of financial inclusion across the country, rose to 64.2 in March 2024, showing growth across all parameters. The index captures information on various aspects of financial inclusion in a single value ranging between 0 and 100, where 0…
Read More “Financial inclusion index rises with growth across all segments: RBI” »
‘Compared to the interim Budget, the Centre’s revenue position is expected to improve on account of both higher tax and non-tax revenues’ | Photo Credit: Getty Images/iStockphoto The final Budget for 2024-25, to be presented on July 23, would be the first Budget of the new government. It is an opportunity for the government to…