The Centre has decided to discontinue the Gold Monetisation Scheme for medium-term and long-term deposits effective March 26, 2025. The government cited soaring gold prices as a contributing factor to this decision, with the possibility of the Rs 1 lakh/10 gm mark becoming a reality in the near future. In a statement released by the … Read more
Kochi: Reserve Bank of India (RBI) Governor Shaktikanta Das on Saturday said that the Indian economy and financial sector are well placed to handle any kind of spillovers from global events. The country’s external sector is also strong and our current account deficit has remained within manageable limits and stood at 1.1 per cent. “Today, … Read more
“Regarding India, there are concerns in the markets that portfolio rebalancing could favor undervalued Chinese stocks, contributing to some hesitation in price movements,” says Radhika Rao, DBS Bank. My opening statement was framed as a question to you. We have seen a stimulus blitz take place in China, which was much needed to revive the … Read more
Sovereign Gold Bonds (SGBs): The Reserve Bank of India has announced the dates for premature redemption of Sovereign Gold Bonds issued between May 2017 and May 2020. The central bank is planning to redeem 30 SGBs from October 11 and February 7, 2025. The redemption price will be announced by the Reserve Bank of India … Read more
Mumbai: Overseas Indians sent home a record $29 billion by way of remittances in the December quarter as steadily climbing returns from FCNR (foreign currency – non resident) instruments have made such savings plans more lucrative than bank deposits in the West. To be sure, remittances are a source of permanent flows, unlike repatriable NRI … Read more
Mumbai: A narrower-than-expected trade deficit and higher services exports in January have prompted economists to scale down the current account deficit (CAD) estimates for FY24. Capital inflows through both foreign direct investment (FDI) and portfolio flows are expected to improve during the rest of the fiscal. But potentially higher foreign exchange inflows may not mean … Read more
“I think from an external perspective, we had a big challenge in terms of commodity prices going up and as you know India is a big oil importer so that was affecting India in terms of inflation as well as current account deficit,” says Chetan Ahya, Morgan Stanley.The Indian market and market environment, economy, seems … Read more
Cash-strapped Pakistan’s current account deficit shrank 90.2 per cent to USD 0.24 billion in January from USD 2.47 billion in the same month last year, the data shared by the State Bank of Pakistan (SBP) showed on Monday. “Current Account Deficit (CAD) recorded USD 0.2 billion in Jan 2023 against a deficit of USD 2.5 … Read more
India is likely to be the second most important driver of global growth in 2022 after China despite the challenges posed by the pandemic and the war in Europe, Reserve Bank of India’s (RBI) deputy governor, Michael D Patra, said. The world’s third-largest economy in terms of purchasing power parity is going to contribute about … Read more
SBI Research on Friday said that India’s current account deficit in the current fiscal may reach a decade high even as the country’s export growth could be sustained. India recorded a CAD of 1.2% of GDP in April-December 2021. “FY23 will be a challenging year since as per our estimates, CAD will breach the 2.5% … Read more