The Reserve Bank on Monday permitted banks to allow minors above the age of 10 years to open and operate savings/ term deposit accounts independently. The Reserve Bank of India has issued revised instructions on opening and operation in the deposit accounts of minors.
While the total number of assembly seats remains unchanged at 126, the redrawing of boundaries has reshaped voter composition across constituencies -- a shift that is likely to influence electoral outcomes in the years ahead.
India's forex reserves jumped $8.663 billion to hit a new all-time high of $725.727 billion in the week ended February 13, the RBI said on Friday.
Gold has emerged as the most stable asset during episodes of geopolitical stress, and crude oil has been more sensitive than others when it comes to regional conflicts and sanctions, according to a report in the Reserve Bank of India's (RBI's) monthly bulletin. Silver and the United States Treasury have showed moderate reactions.
'I cannot imagine that any NSA before Ajit Doval would have given us this kind of time and this kind of engagement. They would have offered slogans, or nothing at all. That, too, tells you something.'
Analysts predict that the ongoing conflict in West Asia, crude oil price fluctuations, and the US Federal Reserve's interest rate decision will significantly influence the Indian equity market this week.
The easing of external commercial borrowing (ECB) norms by the Reserve Bank of India (RBI) is expected to significantly boost overseas fundraising by Indian companies, market participants said.
Fraudulent emails exhorting people to deposit cash for reward are on the rise.
Petroleum Sports Promotion Board (PSPB) men secured a dominant victory at the Senior Table Tennis National Championships, while Reserve Bank of India (RBI) women reclaimed their title after two years.
India's forex reserve jumped by $4.76 billion to $640.48 billion in the week ended February 21, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had dropped by $2.54 billion to $635.72 billion.
A special audit by the Comptroller and Auditor General (CAG) has revealed that Odisha's forest and environment department sidestepped central guidelines, procuring and customising Mahindra Thar SUVs worth 17 crore from the State Disaster Response Fund (SDRF) for forest protection, despite the funds being earmarked for 'preparedness and capacity building'.
A model has filed a complaint in a Kanpur court against her husband, IPL cricketer Amit Mishra, accusing him and his family of dowry harassment, assault, and abetment to suicide.
The Clearing Corporation of India (CCIL) will be able to reapply for recognition by the European Union's (EU) financial markets regulator following a pact signed on Tuesday between the Reserve Bank of India (RBI) and the European Securities and Markets Authority (Esma).
Markets will look for clear guidance on how the MPC interprets the uncertainty and what it implies for the future course of monetary policy, points out Rajeswari Sengupta.
With duties at 15%, GST at 3%, and making charges running as high as 20% -- the gap between a smart purchase and a careless one can easily be Rs 30,000 to Rs 50,000 on every Rs 1 lakh invested. And most of that gap is entirely avoidable. Ramalingam Kalirajan explains the math.
Mastercard and Visa are introducing passkeys that will allow users to authenticate card payments with face scans or fingerprints, eliminating the need for one-time passwords (OTPs).
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
With rising credit demand, cleaner balance sheets, and renewed investor confidence, banks are positioned at the forefront of the market rally. From major players like ICICI and HDFC to broader policy shifts, there's much driving this momentum.
The Indian rupee depreciated by 52 paise to settle at 93.35 against the US dollar, driven by failed US-Iran peace talks, surging crude oil prices due to a potential US blockade of Iranian ports, and a global flight to the greenback. This geopolitical uncertainty is also leading to foreign capital withdrawal from domestic equities.
The Reserve Bank of India (RBI) is likely to keep monetary policy steady in June despite sluggish economic activity as inflation remains elevated, a Reuters poll showed on Wednesday.
Reserve Bank Governor Sanjay Malhotra on Wednesday exhorted the fledgling fintech ecosystem to focus on the underserved sections of the society to deepen financial inclusion. Speaking at the annual Global Fintech Fest in Mumbai, Malhotra accepted that serving the "privileged" will be a lucrative business, but urged the smaller companies to focus on the underserved.
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.
The move is aimed at making settlement of claims or return of articles from a locker smooth for relatives after the death of a customer.
Is Bhutan merely experimenting with digital finance -- or is the Himalayan kingdom punching far above its weight, quietly playing one of the most sophisticated strategic games in Asia today? asks Varun Arya.
West Bengal Chief Minister Mamata Banerjee has accused the BJP-led central government of using the proposed amendment to the women's quota law as a front for the Delimitation Bill, which she claims will divide the country. She asserted that her party will fight this move at every step.
CPI inflation slowed to 9.39% in April compared with 10.39% in March.
Reserve Bank Governor Sanjay Malhotra on Friday said the central bank does not target any band for the rupee in the forex market, and allows the domestic currency to find its own correct level.
'Monsoon is the pran (life) of our water system.' 'A weak monsoon will have a very negative impact on crops and people's lives.'
The new hire, Gangadhar Darbha, joined as a consultant
The Canara Bank on Thursday informed the Bombay high court that it has withdrawn its order classifying as "fraudulent" the loan account of a firm linked to industrialist Anil Ambani. After the bank's disclosure, a bench of Justices Revati Mohite Dere and Neela Gokhale disposed of the petition filed by Ambani challenging the bank's order, saying nothing survives in it.
India should not stay on the margins of this initiative. There should be a serious debate about what would be in India's best interests asserts former foreign secretary Shyam Saran.
The Indian rupee depreciated 20 paise to close at a fresh all-time low of 94.88 against the US dollar, driven by surging Brent crude oil prices, hovering around USD 115 per barrel, and persistent foreign capital outflows.
Prime Minister Narendra Modi asserted that the TMC's rule in West Bengal is nearing its end, citing corruption and unfulfilled promises. He also pledged support for the fisherfolk and a zero-tolerance policy for infiltrators.
The NCLAT said the RBI cannot restrict it from prohibiting banks from 'asset classfication' and observed that any change in this order would upset the entire resolution process of the IL&FS
The revised ceiling will be within the Rs 10 lakh mark.
Earlier, such entities were only permitted to invest their rupee surplus balance in accounts in central government securities, including treasury bills. "It has now been decided to also permit investment of these balances in non-convertible debentures/bonds and commercial papers issued by an Indian company," the RBI said.
State-owned banks have received guidance from the government to close Jan Dhan accounts whose beneficiaries are unwilling to keep them active, amid rising instances of such accounts being misused by fraudsters as mule accounts to defraud people, people aware of the development said.
The second post of deputy governor became vacant after V Leeladhar superannuated a few months ago. Punjab National Bank chairman and managing director K C Chakrabarty is to take over as deputy governor on Monday. Apart from monetary policy, Subbarao will also handle the department of economic analysis and policy, department of statistics and information management.
'We have seen that stablecoins lack the basic attributes of money, their advantages are neither unique nor unambiguous and their risks are all too real.'
