India's forex reserves declined $5.24 billion to $617.23 billion for the week ending February 9, according to weekly data released by the Reserve Bank of India (RBI) on Friday. The forex kitty stood at $622.5 billion for the week ended February 2. However, in the current fiscal, the forex reserves have increased $50.28 billion, the RBI data showed.
Retail inflation eased to a nearly six-year low of 3.16 per cent in April mainly due to subdued prices of vegetables, fruits, pulses, and other protein-rich items, creating enough room for the Reserve Bank to go for another round of rate cut in the June monetary policy review. The Consumer Price Index (CPI) based inflation was 3.34 per cent in March and 4.83 per cent in April 2024. It was 3.15 per cent in July 2019.
The Reserve Bank of India has brought 100 metric tonnes of gold reserve from the UK to India as there is enough domestic storage capacity, and nothing more should be read into it, Governor Shaktikanta Das said on Friday. The RBI moved 100 metric tonnes of its gold stored in the UK to domestic vaults in FY24.
A family feud within the politically influential Matua community has erupted between Union minister Shantanu Thakur and his brother, BJP MLA Subrata Thakur, creating ripples in West Bengal's political landscape and posing a challenge for the BJP ahead of upcoming elections.
Group Captain Shubhanshu Shukla, India's second astronaut, shares his journey from a shy child hearing stories of Rakesh Sharma to becoming part of the Axiom-4 mission to the International Space Station. He emphasizes the role of the IAF in his transformation and inspires India's youth to explore space.
The foreign degree no longer sells itself, families are doing the math, and for many, the numbers just don't add up.
Analysts expect Nifty to rise up by to 6 per cent in six months, with intermittent corrections likely due to global factors.
The Reserve Bank of India (RBI) brass, including its Governor Sanjay Malhotra, on Tuesday told a Parliamentary panel that it was "optimistic" about the impact of the US tariffs on the Indian economy and, in long-run, it could benefit the country due to dipping trade relations between the US and China.
Concerned over the rise in mis-selling of products by banks and non-banking financial companies (NBFCs), the Reserve Bank of India (RBI) is examining whether to come up with norms to curb such practices. Observing that pushing financial products, such as insurance, indiscriminately to unaware consumers may be detrimental to their well-being, RBI Deputy Governor M Rajeshwar Rao said, "We are examining whether it necessitates framing of guidelines to address mis-selling of financial products and services by REs (regulated entities)."
Commercial banks in India reported a sixth consecutive year of rise in their net profits in 2023-24 while bad loans continued to fall, according to the Reserve Bank of India's (RBI's) annual publication "Trends and Progress of Banking in India", released on Thursday. "Banks' profitability rose for the sixth consecutive year in 2023-24 and continued to rise in H1:2024-25 with the return on assets (RoA) at 1.4 per cent and return on equity (RoE) at 14.6 per cent," the report said.
With the interest rate cut cycle nearing its end, several debt fund managers are shifting their focus towards interest income rather than betting on duration in anticipation of capital gains.
India's forex reserves jumped $2.816 billion to $606.86 billion in the week ended December 8, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall reserves had risen $6.11 billion to $604.04 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
India's forex reserves increased by $2.35 billion to $596.098 billion for the week ended June 16, the Reserve Bank said on Friday. The overall reserves had dropped by $1.32 billion to $593.75 billion in the previous reporting week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
'From tariff tensions and border skirmishes to unrest in West Asia.' 'The worst may be behind us. But any further upmove will now have to come from earnings.'
Maharashtra Navnirman Sena (MNS) president Raj Thackeray has asked his party workers to temporarily halt the agitation demanding the use of Marathi language in banks and other establishments. Thackeray said the agitation has been successful in raising awareness about the issue and that the government should now implement the Reserve Bank of India's (RBI) norms on the use of local languages. He warned that the MNS will take action if the government fails to ensure the law is followed.
India's forex reserves jumped $9.11 billion to $615.97 billion in the week ended December 15 and the quantum of increase is one of the highest for a week, according to RBI data. In the previous reporting week, the overall reserves had risen $2.82 billion to $606.86 billion. In October 2021, the country's forex kitty reached an all-time high of $645 billion.
Borrowers should consider switching from an MCLR-linked to a repo rate-linked loan.
Reserve Bank on Wednesday cut India's growth forecast to 6.5 per cent from 6.7 per cent estimated earlier for the current financial year on account of impact of global trade and policy uncertainties. Prospects of agriculture sector remain bright on the back of healthy reservoir levels and robust crop production in 2025-26, RBI Governor Sanjay Malhotra said while unveiling the outcome of the first bi-monthly Monetary Policy Committee meeting for the current financial year.
From the 30-share pack, Adani Port, Bharti Airtel, Asian Paints, IndusInd Bank, Bajaj Finserv, Reliance Industries, Infosys, UltraTech Cement, HDFC Bank, HCL Technologies and ICICI Bank were among the laggards. Tata Motors, Axis Bank, Maruti, Larsen & Toubro, ITC and Tata Steel were among the gainers.
IndusInd Bank MD and CEO Sumant Kathpalia on Tuesday resigned with immediate effect, taking moral responsibility of accounting lapses in the derivatives portfolio, having financial implication of Rs 1,960 crore to the bank.
The RBI has also been asked to consider displaying this information on its website.
Conservative investors seeking equity-like tax benefits with low risk may go for them.
'Many global investors have been overweight on dollar assets, so some diversification or hedging is naturally expected.'
The court said there is nothing on record to suggest that since 2023, Purkayastha was ever called to join the investigations.
'We never waste a crisis. There will be learning and the supervisory tools will get better with each episode.'
Gold prices are expected to witness further consolidation in the coming week as investors brace for a slew of events, ranging from central bank meetings, including the US Federal Open Market Committee (FOMC) meeting's outcome, to global trade negotiations, analysts said.
India Ratings on Thursday said that any broad-based or strong recovery in corporate capital expenditure was unlikely in the upcoming financial year 2026 (FY26) due to uncertainty of domestic and external demand. The uncertainty is adversely affecting the overall corporate sector capex. Interest rates on credit are not the primary deterrent to decisions about capital expenditure, said Soumyajit Niyogi, director, core analytical group, Ind-Ra, in a webinar on the credit market outlook.
Sanjay Malhotra on Wednesday took charge as the 26th Governor of the Reserve Bank of India. Malhotra, a career bureaucrat, arrived at the central bank's headquarter this morning, where he was welcomed by senior RBI staffers. The central bank confirmed Malhotra's appointment through a post on the microblogging site "X" and also shared a few pictures.
Banks reported muted treasury gains during April-June of FY25 (Q1FY25) following Reserve Bank of India's (RBI's) revised norms on investment portfolio effective from April 1, 2024, despite softening of government bond yields. "Banks have reported muted treasury gains during Q1 of FY25 despite softening of yields across the curve. "The main reason was change in the investment valuation and classification guidelines by the RBI.
Union Finance Minister Nirmala Sitharaman on Monday said people are finding current interest rates "very stressful" and urged banks to make them affordable. Speaking at an event organised by State Bank of India, the finance minister said that at present, India requires industry to ramp up and invest in new facilities, and added that lowering lending rates can help achieve the "Viksit Bharat" aspiration.
They don't just want better returns -- they're looking for global opportunities, more variety and smarter ways to grow their money, says Soubho Moulik, CEO, Appreciate.
Foreign investment in bonds issued by Indian corporates touched a 10-year high in May at 20,996 crore, driven by $3.35 billion fundraise by the Shapoorji Pallonji (SP) group, which saw infusion from Deutsche Bank, BlackRock, Morgan Stanley, Davidson Kempner, and Cerberus Capital, among others. The SP group sold three-year bonds, offering 19.75 per cent yield compounded annually and payable at maturity.
Retail inflation declined to over six-year low of 2.1 per cent in June, nearing the RBI's comfort zone, on account of subdued prices of food items, including vegetables, driven by widespread monsoon.
Domestic rating agency ICRA on Monday said Indian companies are likely to clock 7-8 per cent revenue growth during the March quarter of the current fiscal year, led by revival in rural demand and uptick in government spending. ICRA expects the private capital expenditure (capex) cycle to remain measured in view of the uncertainties around geopolitical developments and relatively subdued outlook on merchandise exports from India.
While growth in India is largely domestic and hence the overall GDP effect may not be more than 0.15-0.2%, but overall trade will be impacted due to every country going back to the drawing board, points out Madan Sabnavis.
The weakening of inflation, prospects of economic growth, geopolitical uncertainty and comfortable system liquidity may result in the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) to cut the repo rate by another 25 basis points, opine top economists. They also said the external economic pressures like trade policies and others would require continued RBI's accommodative stance and policy support for the Indian industry to sustain the growth.
This marks a 67% increase from the Rs 2,537 crore lost in scams in 2022-2023.
Despite outstanding performances in the IPL and on the international stage, several big names failed to make the cut.
Wholesale price inflation (WPI) declined to a 14-month low of 0.39 per cent in May on easing prices of food articles and fuel, and experts said geopolitical tensions could push up prices.
'Growth, liquidity and deposit mobilisation are likely to be discussed during the interaction.'
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