The Reserve Bank of India (RBI) announced on Friday that users of Prepaid Payment Instruments (PPI) are now permitted to conduct UPI payments through third-party UPI applications. While UPI payments between bank accounts can be done using the bank’s own UPI app or any third-party provider’s app, UPI transactions involving PPIs must currently be completed … Read more
While India’s long-term growth story remains promising, slower earnings recovery and external headwinds could prevent returns from reaching the double-digit growth seen in 2024, says Rahul Singh, CIO – Equities, Tata Mutual Fund.Edited excerpts from a chat on outlook for 2025 and where to invest in the new year:Sensex and Nifty are poised to end … Read more
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) begins its three-day meeting today. The six-member panel, led by Governor Shaktikanta Das, will review the economic conditions and decide on the repo rate, the rate at which the RBI lends money to commercial banks. The decisions will be announced on December 6 at 10 … Read more
The Reserve Bank of India (RBI) announced on Monday, December 2, that it has lifted the restrictions imposed on Navi Finserv Limited, a non-banking financial company (NBFC) led by Sachin Bansal. The decision comes after the company demonstrated significant reforms in its practices and adherence to regulatory guidelines. “The Reserve Bank has decided to lift … Read more
SGB premature redemption: The Sovereign Gold Bond (SGB) Series VIII (2017-18) is scheduled for premature redemption on November 19, 2024, in accordance with the guidelines set by the Reserve Bank of India (RBI). The redemption amount has been determined at Rs 7,460 per unit, determined by the average gold price of 999 purity recorded over … Read more
New loan rates: Private lender HDFC Bank has implemented revisions to its Marginal Cost of Funds-Based Lending Rates (MCLR) for select short-term tenures effective from November 3, 2024. The revision includes an increase of up to 5 basis points (bps) and applies specifically to the overnight, one-month, and three-year tenures. Post-revision, the overnight MCLR has … Read more
India’s central bank will cut its key policy rate in December by a quarter point to 6.25% to bolster slowing economic growth, according to a slim majority of economists in a Reuters poll who also expect inflation to moderate in the near-term. Inflation unexpectedly spiked to 5.49% in September, but was forecast to cool to … Read more
The team from the Indian Institute of Petroleum and Energy, which emerged as the winner in the State-round of the national quiz competition, organised by the RBI in Vijayawada on Monday. Three teams, from the Indian Institute of Petroleum and Energy, Visakhapatnam, SPACES Degree College, Payakaraopeta, and Indian Institute Of Information Technology Design And Manufacturing, … Read more
“So, spending is down 35% year-on-year or compared to what was budgeted and I think that is causing a little bit of a slowdown in the economy, apart from other reasons,” says Hiren Ved, CEO, Director & CIO, Alchemy Capital. Ayesha Faridi: I remember the last time you were in the studios, you were talking … Read more
Mumbai: The Reserve Bank of India’s (RBI) gross currency market interventions until August in FY25 have registered a sharp increase from a year ago, reflecting the central bank’s efforts to mitigate volatility in the exchange rate in a turbulent global economic environment. Latest data published by the RBI showed that in April and May, the … Read more