Mumbai: IndusInd’s guarded statements. A flurry of accounting jargon. A maze of derivative deals behind the numbers. Social media chatter. Confusion. And then, the Reserve Bank of India‘s reassurance on a festive weekend. As the story plays out amid rating action and a 24% fall in the stock, the declaration of the bank’s derivative losses, … Read more
Gold loans: The Reserve Bank of India (RBI) is preparing to implement stricter underwriting standards for gold loans, urging both banks and non-bank financial institutions to enhance their background checks on borrowers. This initiative aims to ensure that financial entities adhere to standard protocols amidst a 50% rise in gold loans since September 2024, news … 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
The Reserve Bank of India (RBI) has announced that banks in several major cities, including Mumbai, Delhi, Chennai, Bengaluru, Kolkata, and Hyderabad, will remain closed on February 26, 2025, in observance of Mahashivratri. This closure is part of the RBI’s official holiday schedule, which categorises holidays under the Negotiable Instruments Act, Real Time Gross Settlement … Read more
Mumbai | Kolkata: Non-banking finance companies (NBFCs) sought a higher external commercial borrowing (ECB) limit in their first meeting with Reserve Bank of India (RBI) governor Sanjay Malhotra on Thursday, along with easier asset classification for alternative vehicle financing, freer use of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) … Read more
New Income Tax bill 2025: Finance Minister Nirmala Sitharaman on Saturday announced that the New Income Tax bill will be presented in the Parliament next week, after which it will be reviewed by a parliamentary committee. She added that the Reserve Bank of India (RBI) and the government will collaborate closely on various economic matters, … Read more
RBI MPC repo rate: The Reserve Bank of India’s Monetary Policy Committee may go for an interest rate cut on February 7 for the first time in almost five years. During its December meeting, the RBI decided to keep the repo rate steady at 6.5% for the 11th consecutive time due to ongoing inflationary challenges. … Read more
One Mobikwik Systems Ltd. and Cred have recently initiated their individual e-rupee pilot programs in partnership with the Reserve Bank of India (RBI). This collaboration marks their distinction as the pioneering fintech platforms to join hands with the RBI for the implementation of the central bank digital currency (CBDC). Yes Bank has been selected as … Read more
A popular investment choice among non-resident Indians (NRIs) is fixed deposits (FDs). This investment option is user-friendly, offers guaranteed returns, and adheres to transparent regulations. During its December Monetary Policy Committee (MPC) meeting, the Reserve Bank of India raised the interest rate cap on Foreign Currency Non-Resident Account FCNR (B) deposits to overnight Alternative Reference … Read more
Mumbai :The Indian rupee weakened slightly Wednesday but closed at another record low on New Years’ Day, pressured by dollar bids from importers. The rupee closed at 85.645 against the US dollar, down from its close of 85.615/$1 in the previous session, LSEG data showed. The currency closed at record low levels for the seventh … Read more