The dollar’s value has risen to a record level as a result of aggrieved tightening by the Fed. With the objective of reducing volatility in the rupee’s movement, the RBI has been actively intervening in the forex market. Since Mar’22, when the US Fed undertook its first rate hike, the RBI net sold ~USD90bn worth … Read more
SINGAPORE: Oil prices were little changed on Wednesday as COVID-19 cases in China continued to climb, sparking worries of lower fuel demand in the world’s top crude importer, and outweighing concerns about an escalation of geopolitical tensions and tighter oil supply. Brent crude futures dropped by 6 cents, or 0.1%, to $93.80 a barrel by … Read more
The Centre Thursday released two installments of tax devolution to states worth ?1.16 lakh crore. This is more than the normal monthly devolution of Rs 58,333 crore. The release of two installments is in line with Centre’s commitment to push developmental and capital expenditure by states, the finance ministry said. Source link
India is currently one of the most alluring emerging markets for investment. Our country has shown significant developments in terms of key macro-parameters. The rebound in GDP for FY22 has been remarkable, making it one of the fastest-growing countries globally. The Indian economy made a rapid stride in FY22 by climbing 8.7% YoY — the … Read more
Nineteen people have now died in this outbreak but there are no other recorded cases in Kampala. Source link
Mumbai: The rupee plunged more than a percentage point to a new low of 80.87 to the dollar Thursday, a day after the US Federal Reserve raised benchmark rates with a hawkish undertone, bringing back the fear of overseas capital outflows from emerging markets including India. Stocks also fell, tracking the decline in global markets … Read more
Mumbai: The Reserve Bank of India (RBI) has fine-tuned the capital norms for NBFCs, allowing revaluation of reserves from property to be counted as tier-1 capital instead of tier-2. It also permitted calculation of earnings subject to deductions of dividend based on past years. “Revaluation reserves arising out of change in the carrying amount of … Read more
Mumbai: Indian bonds ended slightly higher on hopes of central bank intervention after volatile trading in the past few days as uncertainty about the flight of capital amid rising geopolitical risks and inflation worries spooked investors. At one point of trading bonds erased substantial gains after the Reserve Bank of India kept monetary policy rates … Read more
The government did infuse almost Rs 2.7 lakh crore between fiscal 2017-2020 but the pandemic might force the government to infuse more capital to keep public lenders healthy. Public sector lenders need to raise as much as Rs 2.1 lakh crore in external capital over the next two years to tackle the capital shortages that … Read more