Global central banks are reducing US Treasury holdings and increasing gold reserves. India’s gold reserves surpassed $100 billion. Gold prices experienced a significant drop, which is expected to boost demand from investors and central banks. This shift indicates a diversification strategy amid political uncertainty. The trend shows a move away from dollar assets towards gold. … Read more
The Reserve Bank of India‘s record dividend payout of nearly Rs 2.7 trillion to the government has been made possible due to robust gross dollar sales, higher foreign exchange gains, and steady increases in interest income, according to a report by the State Bank of India (SBI). The report noted that this significant surplus transfer … Read more
Sovereign Gold Bonds (SGB), one of the popular gold investment tool, were debt securities issued by the Reserve Bank of India (RBI) on behalf of the government, with each unit representing a gram of gold. These bonds can be traded in the secondary market, allowing investors to potentially gain capital. Additionally, the government utilises SGBs … Read more
The Reserve Bank of India’s (RBI) foreign exchange reserves rose by $15 billion in the week ended March 7 to $653.9 billion. These are the sharpest single-week gains in over two years when reserves had risen by $14.7 billion in the week ended November 11, 2022, RBI data showed. Economists said the key reasons behind … Read more
India’s foreign exchange reserves jumped to a two-month high to reach $640.5 billion as of February 21, with nearly $5 billion added in a week to the stockpile that had shrunk in lockstep with the retreat in Mumbai’s broadest equity gauges after having scaled their respective peaks end-September. Reserve Bank of India (RBI) data published … 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
Sri Lanka has decided to lift from next year a ban on the visit of foreign research ships imposed after strong security concerns raised by India and the US following frequent docking requests from hi-tech Chinese surveillance vessels, the Japanese media reported. The change in position was conveyed by visiting Sri Lankan Foreign Minister Ali … Read more
Kolkata: The Indian economy is on a firm footing with an improved external sector sustainability and a robust corporate balance sheet which along with a thrust on production linked incentive schemes could boost employment, said the Reserve Bank of India in its annual report. “The outlook for the Indian economy remains bright, underpinned by a … Read more
India’s foreign exchange reserves saw a rise of $2.6 billion to $586.5 billion for the week ending on October 27, latest data by Reserve Bank of India (RBI) showed on Friday. Previously, forex reserves were down by $2.36 billion, dragging the reserves to $583.5 billion, for the week ended on October 20. According to the … Read more
Piyush Goyal, Minister of Commerce and Industry, at the CII AGM in New Delhi. India has a strong foreign exchange reserve and the country is in a comfortable position to meet all the requirements even in any worst-case scenario in the next five-six years, Commerce and Industry Minister Piyush Goyal said on May 24. India’s … Read more