'This is an area where good lending can happen, and that is one of the priorities for the next quarter.'
The Reserve Bank on Friday announced a record Rs 2.69 lakh crore dividend to be paid to the government for the fiscal ended March this year, 27.4 per cent more than the payout in 2023-24. The Reserve Bank had transferred Rs 2.1 lakh crore dividend to the government for the fiscal 2023-24.
India's forex reserves increased by $5.17 billion to $696.65 billion for the week ended June 6, the RBI said on Friday. The overall reserves had dropped by $1.24 billion to $691.49 billion for the week ended May 30.
While participants in the domestic financial market are expecting a 25 basis-point policy repo rate cut in the December meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), economists remain torn between a reduction in rate cut and a pause.
From the Sensex pack, Asian Paints, UltraTech Cement, Power Grid, ICICI Bank, Reliance Industries, Hindustan Unilever, Bharat Electronics and Sun Pharma were among the major gainers. In contrast, Trent, Eternal, Axis Bank and Titan were among the laggards.
Report by March 31; banks' gold coin sales, wealth management biz also under scanner.
Back in March this year, when the Reserve Bank of India stepped in with a cap of 60 per cent on the loan-to-value ratio for gold loan non-banking financial companies, it said it was acting to pre-empt systemic risks and to safeguard public funds.
A series of decisions were taken under the Public Health Department, including an approval to increase honoraria for field-level workers engaged under the Ayushman BharatPradhan Mantri Jan Arogya Yojana and Mahatma Jyotirao Phule Jan Arogya Yojana.
The Reserve Bank of India (RBI) on Monday realigned the bank rate to marginal standing facility (MSF) rate in one-time technical adjustment. The bank rate now stands at 9.5 per cent as against six per cent earlier.
Despite a strong 7.8 per cent growth in the first quarter, the Indian economy is expected to grow at 6.5 per cent in the current financial year as the impact of US tariffs on Indian exports will reduce prospects, particularly in the second half, ADB said on Tuesday.
As many as 2.17 lakh pieces of fake notes of various denominations were detected during 2024-25 compared to 2.23 lakh such notes in the previous year, Parliament was informed on Monday. Of this, highest -- 117,722 pieces -- counterfeit notes of 500 [MG (New) Series] were detected in FY25, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha.
Tata Sons, now debt-free, has asked the RBI to drop its 'upper-layer NBFC' tag and allow it to stay private.
The high-value Rs 2000 notes worth Rs 6,181 crore are still in circulation after two years of the Reserve Bank withdrawing the currency, according to official data released on Monday. Rs 2000 banknotes continue to be legal tender.
Wholesale price inflation (WPI) returned to the positive zone after two months at 0.52 per cent in August, as prices of food articles and manufactured items inched up, government data showed on Monday. WPI-based inflation was (-) 0.58 and (-) 0.19 per cent in July and June, respectively.
Indian economy remains a key driver of global growth on the back of sound macroeconomic fundamentals and prudent policies, the Reserve Bank said on Monday. In its bi-annual Financial Stability Report (FSR), the central bank also said elevated economic and trade policy uncertainties are testing the resilience of the global economy and the financial system.
India's forex reserves rose $1.05 billion to $630.61 billion for the week ended January 31, the RBI said on Friday. In the previous reporting week, the overall reserves had increased by $5.57 billion to $629.56 billion.
Rashtrapati Bhavan has introduced a new initiative, the E-Upahaar auction, to monetise valuable assets for a social cause, in alignment with a broader governmental policy, championed by Prime Minister Narendra Modi, of auctioning gifts received by dignitaries to fund welfare programmes.
Mehli Mistry is backed by three other trustees -- Pramit Jhaveri, Darius Khambata and Jehangir HC Jehangir -- against Tata Trusts Chairman Noel Tata and the two vice-chairmen, Venu Srinivasan and Vijay Singh.
'Given the lag in transmission, further softening of lending rates may happen in the coming months.'
Tata Capital is set to launch India's largest ever initial public offering (IPO) by a non-banking financial company (NBFC), valuing the Tata group firm at Rs 1.38 trillion. This will make the company India's fifth-most-valued NBFC after Bajaj Finance (Rs 6.12 trillion), Bajaj Finserv (Rs 3.2 trillion), Jio Financial Services (Rs 1.87 trillion), and IRFC (Rs 1.59 trillion).
India's equity markets may have expanded rapidly, but initial public offerings (IPOs) are increasingly becoming exit vehicles for early investors rather than as engines for raising long-term capital, a shift that undermines the spirit of public markets, Chief Economic Advisor V Anantha Nageswaran warned on Monday at a CII event.
'All commercial and banking transactions happen in South Mumbai.'
The Reserve Bank of India on Friday permitted banks to increase charges on ATM cash withdrawals beyond the mandatory free monthly usage by Rs 2 to Rs 23 per transaction from May 1.
Among Sensex firms, Bajaj Finserv, ICICI Bank, Reliance Industries, Bajaj Finance, Larsen & Toubro and Bharat Electronics were the major gainers. However, Power Grid, Eternal, Hindustan Unilever and Adani Ports were among the laggards.
Gold's glittering rally is expected to continue, with prices likely to climb towards $4,500 per ounce in overseas markets, supported by sustained global central bank purchases, persistent geopolitical tensions, and strong Asian demand, according to a report by Motilal Oswal Financial Services Ltd. Silver, which has outperformed gold in terms of returns so far this year, is projected to climb to around $75 per ounce, aided by robust industrial consumption and a widening supply deficit, the report said.
The government on Wednesday withdrew the order mandating pre-installation of cyber security app Sanchar Saathi on smartphones by manufacturers.
SP Group chairman Shapoorji Pallonji Mistry on Friday reiterated calls for public listing of Tata Sons to bring transparency, amid infighting among trustees of Tata Trusts which controls a 66 per cent stake in the holding company of the salt-to-software conglomerate. Shapoorji Pallonji family is the single largest minority shareholder with about 18.37 per cent in Tata Sons.
India's forex reserves jumped by $6.99 billion to $692.72 billion during the week ended May 23, the RBI said on Friday.
What is currently perceived as a massive, low-tech liability could become a high-value, export-oriented economic engine, points out Ajit Balakrishnan.
Wholesale price inflation (WPI) softened to 0.13 per cent in September on easing in prices of food articles and manufactured items, government data showed on Tuesday. WPI-based inflation was 0.52 per cent in August and 1.91 per cent in September last year.
'The frenzy for gold is primarily due to the uncertainty surrounding the tariff war.'
ICICI Bank has reversed its decision to raise the minimum monthly average balance (MAB) for new savings accounts in metro and urban locations to Rs 50,000, revising it instead to Rs 15,000, effective August 1. The MAB for new savings accounts in semi-urban locations has been revised from Rs 25,000 to Rs 7,500, and for rural locations from Rs 10,000 to Rs 2,500.
If he cannot do it this term by using his bureaucracy and experts from different fields, it will be a tragedy, asserts Ramesh Menon.
India's forex reserves dropped by $1.24 billion to $691.49 billion for the week ended May 30, the RBI said on Friday. The overall reserves had jumped by $6.99 billion to $692.72 billion in the previous reporting week.
This is the fourth such death reported in the state since the exercise began on November 4, sparking a political blame game.
New investors should not allow themselves to fall prey to FOMO and rush headlong into gold.
Just over a year ago, India was investors' top pick among EMs. Its slide down the rankings follows $30 billion (over 2.5 trillion) of foreign selling over the past 12-13 months.
Persisting uncertainties related to the US trade policies pose downside risk to the overall demand in the Indian economy while the inflation outlook for the near term has become more benign than anticipated earlier, RBI said in its latest bulletin on Thursday. In the August bulletin, the Reserve Bank of India (RBI) also said that India's sovereign rating upgrade by S&P bodes well for capital inflows and sovereign yields, going forward.
The RBI advisory follows a labour ministry request earlier this year seeking the central bank's expertise to identify gaps in EPFO's investment strategy and fund management practices, including accounting, risk management, and internal governance.
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