India's forex reserves increased by $1.51 billion to $658.09 billion for the week ended November 29, the RBI said on Friday. The overall reserves had dropped by $1.31 billion to $656.58 billion in the previous reporting week.
'Let's see how this love story shapes up in the run up to the municipal corporation election.'
Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank.
The cumulative rate hikes of 2.5 percentage points by the central bank since May 2022 negatively impacted headline inflation by 1.60 per cent, a paper by senior RBI staffers said on Monday. "Policy rate increases have anchored inflation expectations and modulated aggregate demand, generating disinflationary responses," the paper by Deputy Governor Michael Patra, Indranil Bhattacharyya, Joice John and Avnish Kumar, said.
'I hear that there are some 10,000 Indians stuck in Iran, including nearly 4,000 students from Kashmir. But, I do not know any of them. Here I am all by myself and the embassy has asked me not to venture out far from my hotel. People here are going about their daily lives despite the bombings'
Vijay Shekhar Sharma has stepped down as part-time non-executive Chairman of Paytm Payments Bank Limited (PPBL), and the board of the bank has been reconstituted. The Reserve Bank has barred the PPBL from accepting deposits and credits from any customer post-March 15 for persistent non-compliances and continued material supervisory concerns in the bank. PPBL has reconstituted its Board of Directors with the appointment of Ex-Central Bank of India chairman Srinivasan Sridhar, retired IAS officer Debendranath Sarangi, former executive director of Bank of Baroda Ashok Kumar Garg, and former IAS officer Rajni Sekhri Sibal, Paytm said in a regulatory filing on Monday.
Among Sensex shares, Mahindra & Mahindra, Bharti Airtel, Bajaj Finance, Zomato, Nestle, Bajaj Finserv, Maruti and Titan were the biggest gainers. Sun Pharma, Power Grid, Tata Consultancy Services, Tech Mahindra, Asian Paints and Tata Motors were among the laggards.
The interest rate on these schemes have remained unchanged for over a year now.
The US Fed rate cut of 50 basis points is unlikely to have any significant impact on foreign inflows into India, Economic Affairs Secretary Ajay Seth said on Thursday. He said the US Federal Reserve has done what it assesses is good for the largest economy in the world, but the RBI will take a decision on interest rate cut keeping the Indian economy in mind. "It is a positive for the global economy, including the Indian economy. "It is a 50 basis points cut from a high level.
Religious structures, Bengali traditions, and 'graffiti' drawn during the July uprising will be included on the currency notes.
Bond market participants expect an open market operation (OMO) auction in the first week of November as the banking system liquidity is expected to ease on the back of government spending and maturity of bonds. According to market participants, the Reserve Bank of India (RBI) will issue a notification on OMO sales by October 31. They speculate that the central bank might conduct the auctions in multiple tranches of Rs 10,000 crore.
The RBI is fully aware that the high-cost loans and high indebtedness of the borrowers could pose financial stability risks, if not addressed by these NBFCs. Governor Shaktikanta Das has issued a stern warning, saying the RBI is closely monitoring these areas and will not hesitate to take appropriate action, if necessary, if the culprits don't opt for self-correction. Watch out for some action, soon, notes Tamal Bandyopadhyay.
Tata Sons Ltd, the holding company of the $150 billion Tata group, may be forced to infuse fresh capital into its loss-making telecom arm, Tata Teleservices Ltd (TTSL). This is because TTSL has to pay Rs 19,256 crore adjusted gross revenue (AGR) along with other dues to the central government by March 2026.
The Interpol has issued its first Silver notice, at India's request, to track the global assets of former French Embassy officer Shubham Shokeen, who is wanted in connection with a visa fraud. The Silver notice, introduced in January this year, aims to track illicit assets across the globe. India is among 51 countries participating in the pilot project for the Silver notice, which will continue until November. The Interpol has issued two Silver notices on the CBI's request - one against Shokeen for allegedly facilitating Schengen visas for illegal gratification and another against Amit Madanlal Lakhanpal, who is wanted by the Enforcement Directorate for allegedly creating a cryptocurrency without permission and defrauding investors.
Retail inflation slipped to seven-month low of 3.61 per cent in February mainly due to easing prices of vegetables, eggs, and other protein-rich items, creating space for the RBI to go for another cut in interest rate next month.
The Supreme Court's ruling in the BPSL case exposes deep flaws in the IBC's institutional framework and raises concern about judicial overreach, notes Rajeswari Sengupta.
The RBI under new Governor Sanjay Malhotra on Friday cut interest rate for the first time in nearly five years as the central bank pivoted the policy stance to support a shuttering economy. The 25 basis points rate cut to 6.25 per cent comes after last rate reduction in May 2020. The last revision of rates happened in February 2023 when the policy rate was hiked by 25 basis points to 6.5 per cent.
India-Turkiye ties are strained over Ankara's Islamabad tilt, its arms links with Pakistan, and fallout from the Pahalgam terror attack.
Sanjay Malhotra takes charge as the 26th RBI governor at a time when headline retail inflation has shot up to 6.2%.
Clearly, some of the bullishness of the early days has gone missing. Ola's market share is slipping amid rising competition from incumbents like Bajaj Auto and TVS.
Man arrested on suspicion of attempted murder after Liverpool parade crash
'When Prime Minister Modi met President Trump, they agreed to initiate a bilateral trade dialogue.' 'It makes sense to give these negotiations a chance.'
Gold prices could hit the $3500 an ounce (oz) mark in the next 18 months - up around 13 per cent from the current levels - given the global uncertainties and aided by investment demand, said analysts at BofA Securities in a recent note. Uncertainty around Trump Administration trade policies, BofA said, could continue to push the US dollar (USD) lower, further supporting gold prices near-term.
A lower risk appetite among investors has driven gold, traditionally a safe-haven asset, to record highs so far this year. Fuelled by geopolitical tensions in West Asia, robust demand from central banks - particularly in Asia - and US President Donald Trump's tariff volleys, spot gold touched an all-time high of $2,956 per ounce on February 24 in the international markets.
'Challenge is basically near-term growth as the outlook has turned a bit adverse.'
The Real Effective Exchange Rate (REER) of the rupee moderated in December to 107.20 after hitting a peak of 108.14 in November, latest data released by the Reserve Bank of India (RBI) showed. The REER was 103.66 in January 2024. The rupee depreciated around 3 per cent against the dollar in 2024.
'Illegal gambling operators are systematically exploiting India's advertising and payment infrastructure, siphoning off crores of rupees from outside the country.'
This marks a 67% increase from the Rs 2,537 crore lost in scams in 2022-2023.
State Bank of India, Adani Ports, Tata Consultancy Services, ICICI Bank, Reliance Industries and PowerGrid were also among the laggards.
Foreign investors continue to pull back money from the Indian equity market, withdrawing Rs 24,753 crore (about $2.8 billion) in the first week of March amid escalating global trade tensions and lacklustre corporate earnings.
Several areas in Muslim-majority Murshidabad, including Suti, Dhulian, Jangipur and Shamsherganj, have witnessed violent protests against the Waqf (Amendment) Act that spiralled into communal violence, sparking the exodus.
The exodus of FPIs from the Indian equity markets continued unabated, as they withdrew over Rs 7,300 crore (about $840 million) in the first week of this month due to global trade tensions, with the US imposing tariffs on countries such as Canada, Mexico, and China. This came following an outflow of Rs 78,027 crore in the entire January. Before that, they invested Rs 15,446 crore in December, data with the depositories showed.
Global funds have pulled out Rs 1.54 trillion from domestic stocks in fiscal 2024 - 25 (FY25), the highest-ever outflow recorded so far, according to the data compiled by Business Standard. The last time the global funds exited Indian shores in droves was back in 2022, when they sold a net Rs 1.41 in the backdrop of Covid-19.
Continuing the downward trend, retail inflation fell to a five-month low of 4.31 per cent in January, mainly due to a decline in the prices of vegetables, eggs, and pulses. The Consumer Price Index-based retail inflation was 5.22 per cent in December and 5.1 per cent in January 2024. The previous low inflation was in August 2024 at 3.65 per cent.
The next Census' findings will help identify the extent of India's ageing population and vulnerability levels.
Bank account holders are no longer required to visit their bank branches to update 'know your customer' (KYC) details provided they have already submitted valid documents and not changed their address, the RBI has said. Instead, if there is no change in KYC information, they can submit a self-declaration through email-id, registered mobile number, ATMs, or any other digital channels. Following up on Reserve Bank Governor Shaktikanta Das stating that banks should not insist on branch visits for KYC updation, the central bank on Thursday issued guidelines for the same.
Moody's Ratings on Tuesday said India has a lower overall exposure to the US relative to others in the APAC region, although certain sectors such as food, textiles and pharmaceutical products face risks. Moody's said most companies in its rated portfolio are domestic-focused with limited exposure to the US market.
Dividends paid by central public-sector enterprises (CPSEs) in 2024-25 are set to be the highest ever, with the government receiving 69,873 crore so far. A government official said he was hopeful the receipts would touch 70,000 crore in the last week of the financial year.
The Supreme Court on Thursday refused to examine a public interest litigation (PIL) seeking a judicial probe into the April 22 Pahalgam terror attack in which 26 people were killed.
Among the 30-share Sensex blue-chip pack, Bharti Airtel, ITC, Kotak Mahindra Bank, Hindustan Unilever, Titan, UltraTech Cement, HCL Technologies, and Power Grid, were the biggest gainers. Tata Steel, IndusInd Bank, JSW Steel and Bajaj Finserv were the laggards.
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