Reserve Bank Governor Sanjay Malhotra on Friday said the exchange rate policy has remained consistent over the years and the central bank does not target any 'specific level or band' of the rupee, which slipped to an all-time low of 87.59 to a US dollar. On Thursday, the rupee plunged 16 paise to close at a record low of 87.59 against the American currency. "I would like to mention here that the Reserve Bank's exchange rate policy has remained consistent over the years.
India's forex reserves dropped by $5.69 billion to $634.58 billion in the week ended January 3, the Reserve Bank of India said on Friday. In the previous reporting week, the overall kitty had declined by $4.11 billion to $640.28 billion.
India and the visiting US officials have decided to hold a wrap-up session on Saturday morning to conclude the three-day talks on the proposed bilateral trade agreement, government sources said. They said the discussions are at a "very" early stage.
The National Company Law Appellate Tribunal (NCLAT) on Thursday stayed the five-year ban imposed by competition watchdog CCI on data-sharing practices between WhatsApp and Meta for advertising purposes, offering a breather to the tech giant. Meta welcomed the "NCLAT's decision to grant a partial stay on the Competition Commission of India's (CCI) order" and said it will evaluate next steps.
Bessemer Venture Partners has closed $350 million in capital for its second dedicated India fund to back founders in the region, who build enduring companies.
Shares of Oil marketing companies (OMCs) extended their gains for the fourth consecutive session on Thursday after crude oil prices plunged to six-month lows in the international markets, which boosted investor sentiments. Traders said the OMC stocks gained with crude oil prices hovering below $70 per barrel after OPEC-plus decision to increase output from April, a move which is expected to favour Indian refiners with added marketing margins on retail fuel.
The commerce ministry is working on different scenarios to assess the possible fallout of reciprocal tariffs to be imposed by the US administration on April 2 on its key trading partners including India, sources said. US President Donald Trump has said that April 2 will be 'Liberation Day' as he plans to announce tariffs or import duties to bring down America's trade deficit, and promote the country's manufacturing.
Fitch Ratings has removed energy infrastructure company Adani Energy Solutions Ltd (AESL) from its 'Ratings Watch Negative' list, the first upgrade by an international ratings agency since the US indictment. Fitch affirmed AESL long-term foreign and local-currency issuer default ratings (IDRs) at 'BBB-'.
China has defended its newly-released AI tool DeepSeek, after several countries, including India, imposed restrictions on government officials accessing it. Beijing claims actions against DeepSeek amount to "politicisation" of trade and tech issues and vowed to protect the interests of its companies. India's Finance Ministry directed officials to avoid using DeepSeek on office devices, citing confidentiality risks. The tool has garnered global attention for its low-cost model and efficient use of resources, surpassing ChatGPT in popularity on Apple's Appstore.
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.
The country's forex reserves dropped by a further $8.48 billion to $644.39 billion for the week ended December 20, the RBI said on Friday. In the previous reporting week, the reserves had dropped by $1.988 billion to a six-month low of $652.87 billion.
India's forex reserves dropped by $1.99 billion to $652.87 billion for the week ended December 13, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped by $3.235 billion to $654.857 billion.
India's forex reserves dropped by $3.23 billion to $654.86 billion for the week ended December 6, the RBI said on Friday. In the previous reporting week, the reserves had increased by $1.51 billion to $658.09 billion, ending a multi-week decline in the overall kitty.
The tax department conducts about 100-150 "full blown" searches and surveys in a financial year, and this enforcement action is not aimed towards the common taxpaying individual or entity.
India's biggest telecom players, Bharti Airtel and Reliance Industries-backed Jio Platforms, will soon bring billionaire Elon Musk-led SpaceX's Starlink satellite services to India. According to analysts, the move could boost India's tele density, especially in the rural areas, and may be an opportunity for investors to add the two stocks on dips for long-term gains
The scale of illegal gambling and betting in India is staggering, with 1.6 billion visits recorded between October and December 2024 across four analysed platforms -- Parimatch, Stake, 1xBet, and Battery Bet.
Popular Pakistani YouTubers Sohaib Chaudhry and Sana Amjad resurfaced on Tuesday after a mysterious 21-day disappearance, sparking rumours of abduction or even death.
Shares of Tata Consultancy Services (TCS), the country's largest IT services provider, continue to remain under pressure, hitting a new eight-month low of Rs 3,624.90 intraday on Tuesday before closing at Rs 3,631, down 1.19 per cent. In the past two trading sessions, the stock price has declined 4 per cent on fears of a slowing US economy.
India, the world's third largest oil consuming and importing nation, bought crude oil worth 49 billion euros from Russia in the third year of Moscow's invasion of Ukraine, a global think tank said. India, which has traditionally sourced its oil from the Middle East, began importing a large volume of oil from Russia soon after the invasion of Ukraine in February 2022.
India's largest IT services company TCS on Thursday reported an 11.95 per cent jump in net profit at Rs 12,380 crore in the December quarter while the overall workforce reduced by over 5,000 employees. The Tata Group company had reported a net profit of Rs 11,058 crore in the year-ago period, and Rs 11,909 crore in the preceding September quarter. The company's revenue grew 5.6 per cent to Rs 63,973 crore as against Rs 60,583 crore a year earlier.
India's forex reserves dropped $1.31 billion to $656.58 billion for the week ended November 22, the Reserve Bank of India (RBI) said. The kitty had dropped a record $17.76 billion to $657.89 billion in the previous reporting week ending November 15.
'Our phones are taken away as we enter the room.' 'They are just asking us to sign without any discussion. If you ask for a discussion, they say, 'Sign first'.'
'Geopolitical stability could remove the crude oil risk premium.'
India and the US will sit together in the next couple of weeks to decide on the nature of the proposed trade agreement and finalise its broad contours, a senior official said on Monday. During the recent visit of Prime Minister Narendra Modi to Washington, India and the US announced to more than double the two-way commerce to $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector bilateral trade agreement (BTA) by fall of 2025.
Tata Consultancy Services (TCS) has cancelled a press conference scheduled on Thursday evening to announce its second quarter performance, company officials said. The press conference was originally scheduled at 1730 hours on Thursday.
India's forex reserves dropped by $17.76 billion to $657.89 billion for the week ended November 15, the RBI said on Friday. In the previous reporting week ended November 8, the overall reserves dropped by $6.48 billion to $675.65 billion.
The decision, which comes after a meeting with top government officials, marks a new phase in the easing of internet blockades that have restricted access to major global platforms for some time.
India's forex reserves dropped by $6.46 billion to $675.65 billion for the week ended November 8, the RBI said on Friday. In the previous reporting week, the forex reserves had dropped by $2.67 billion to $682.13 billion.
India's forex reserves declined by $2.67 billion to $682.13 billion for the week ended November 1, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped by $3.46 billion to $684.805 billion.
Artificial Intelligence, innovation and next-generation technologies figured prominently during the high-stakes discussion between Prime Minister Narendra Modi and US President Donald Trump at the White House, as the two sides announced transformative measures, including the US-India TRUST initiative, roadmap on accelerating AI infrastructure and INDUS Innovation, to boost tech ties.
'The cooperation in technology is one of the most important aspects of the visit.' 'It will have a long-lasting impact because it will shift the entire paradigm in the context of artificial intelligence and emerging technologies.'
India and the United States will finalize the contours, schedule of negotiations, and terms of reference for a proposed bilateral trade agreement (BTA) during a three-day meeting beginning Tuesday. The agreement is expected to be finalized in two tranches, with the first phase focusing on goods trade. The US team, led by Assistant US Trade Representative for South and Central Asia Brendan Lynch, will be in India from March 25-29 to discuss the agreement. Both countries are aiming to conclude the first phase of the agreement by fall 2025.
Widespread use of crypto assets, including stablecoins, can have a negative impact on the macroeconomic and financial stability of a country, the Reserve Bank of India (RBI) said on Monday. In its Financial Stability Report (FSR), the banking regulator highlighted that excessive use of crypto assets can reduce effectiveness of monetary policy, worsen fiscal risks, circumvent capital flow management measures, divert resources available for financing the real economy and threaten global financial stability.
Some of India's largest conglomerates are gearing up to either commission or commercially start the first phase of their new energy projects this year, according to company executives and analysts.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
US President Donald Trump on Thursday addressed the World Economic Forum where he offered business leaders low taxes if they manufacture their products in the US, while threatening them with tariffs if they don't. Addressing the forum's Annual Meeting in Davos through video conferencing, Trump also said he is going to ask Saudi Arabia and OPEC to bring down oil prices and asserted that if prices come down Russia-Ukraine war will end immediately.
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, on Thursday scrapped a Rs 600 million bond issue after its promoter was charged in an alleged bribery case in the US. Hours before the US prosecutors charged Gautam Adani and associates with participating in a scheme to pay over Rs 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts, the firm sold a 20-year green bond in the US-investment-grade market.
Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
Declining for the second straight week, India's forex reserves dropped $10.75 billion to $690.43 billion for the week ended October 11 in one of the largest decreases in the kitty in recent times, the RBI said on Friday. In the previous reporting week, the reserves had dropped by $3.71 billion to $701.18 billion.
Russian shipments averaged 1.67 million barrels per day in January compared to 1.48 million bpd in December and 1.53 million bpd a year earlier.
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