It is important to understand that the rupee's appreciation, driven by the 2013 special swap scheme, reduced India's import costs for petroleum, oil, and gold, points out Dr Ashwani Mahajan, National Co-Convenor, Swadeshi Jagaran Manch.
Rinku Singh is making the most of his break in the UK, swapping cricket for football and basketball.
Despite large inflows of foreign funds mobilised through the Reserve Bank of India's (RBI's) concessional swap schemes, the rupee has seen little impact because the dollars have largely been absorbed into the central bank's reserves instead of being released into the spot market, according to market participants.
The Reserve Bank of India's concessional swap facility, designed to boost foreign currency inflows, has successfully attracted USD 40.82 billion by July 31, 2026, with a significant portion coming from Foreign Currency Non-Resident (Bank) deposits.
The Reserve Bank of India (RBI) has prematurely closed its swap facility for foreign currency non-resident (bank) deposits, FCNR(B), one month ahead of schedule, after banks mobilised $52.3 billion under the scheme by August 13, indicating sufficient foreign currency reserves.
Private banks in India are aggressively mobilising Foreign Currency Non-Resident (Bank), or FCNR(B), deposits by raising interest rates and using website countdowns, as the Reserve Bank of India's swap window is set to close on August 31, earlier than initially planned.
India is projected to attract between $80 and $85 billion through the Reserve Bank of India's (RBI) concessional swap facility, designed to boost foreign currency inflows, according to an SBI research report.
'This rise in foreign exchange reserves was expected given the amount of FCNR(B) flow.'
India's foreign exchange reserves have surged by a record USD 44.903 billion to a new lifetime high of USD 785.706 billion for the week ended September 4, driven by the Reserve Bank of India's concessional forex swap initiatives.
Mohammed Ayub Qureshi, a 67-year-old Pakistani chef from Glasgow, represented his country in lawn bowls at the Commonwealth Games, showcasing a unique blend of his culinary passion and sporting dedication. Known as "Chico" in the bowls community and running the popular Alishan Tandoori, Qureshi's story highlights the spirit of the Games and the diverse backgrounds of its athletes.
The power suit has officially left the boardroom. Celebrities are taking classic tailoring and giving it a serious fashion upgrade wearing blazers as capes, swapping trousers for shorts, ditching shirts altogether and adding corsets, chokers and statement jewellery into the mix.
Axis Bank MD & CEO Amitabh Chaudhry has cautioned that the surge in FCNR(B) deposits could lead to 'abnormal lending' as banks seek to deploy excess liquidity, while also hinting at a potential interest rate hike in the near future.
India's foreign exchange reserves surged by USD 11.475 billion to a new record high of USD 740.803 billion for the week ended August 28, driven by the RBI's concessional forex swap initiatives.
Rashmika Mandanna has replaced Sai Pallavi as the lead in the highly anticipated M S Subbulakshmi biopic.
State Bank of India Chairman C S Setty stated that banks will take three to four months to deploy the significant funds mobilised through foreign currency non-resident (bank), or FCNR(B), deposits, which is unlikely to cause "abnormal lending". He also highlighted the need for agentic artificial intelligence (AI) costs to fall sharply for its widespread deployment in India, envisioning its role in transforming banking from fraud detection to personalised financial assistance.
Lust Stories 3 continues its tradition of offering attractively-wrapped pieces of provocation in a box. Only this time, it doesn't dwell too deep into the emotions of sex and enjoys it for what it is, discovers Sukanya Verma.
Former England cricketer Liam Plunkett swapped his cricket colours for a baseball glove on Friday, playing his first game for independent American club Oakland Ballers and even claiming a strikeout.
The updated Maruti Suzuki Baleno redefines the premium hatchback segment in India with its aggressive new look, advanced Level 2 ADAS features, and a more fuel-efficient Z series petrol engine, catering to the evolving demands of tech-savvy car buyers.
Indian banks anticipate a reduction of up to 50 basis points in their funding costs due to a surge in liquidity from robust Foreign Currency Non-Resident (Bank), or FCNR (B), flows, lessening their reliance on more expensive certificates of deposit (CDs).
India's foreign exchange reserves have surged by $12.42 billion, reaching a new all-time high of $729.33 billion for the week ended August 21, driven by increases in foreign currency assets and gold reserves.
A frozen phone screen, a fake customer-care call, a screen-sharing request or even a duplicate SIM can give cybercriminals a route into your bank account.
Along with prayers and devotion to Lord Krishna, Janmashtami brings food celebrations, of course.
The Reserve Bank of India (RBI) net bought $561 million in June, marking its first net purchase since February, following three consecutive months of net sales. This move coincided with a series of government and RBI measures to attract foreign capital, leading to a 0.36 per cent appreciation of the rupee against the dollar.
India's proposal to link BRICS payment systems, including central-bank digital currencies (CBDCs), was notably absent from the grouping's New Delhi Declaration, despite being a key agenda item for India's chairmanship. This omission leaves the 16-year effort for trade in local currencies without a settled payment architecture, with the declaration only 'acknowledging' the work of the BRICS Payment Task Force.
The Indian rupee experienced its sharpest single-day decline in eight weeks, settling at 94.83 per dollar, primarily due to escalating crude oil prices and persistent risk-off sentiment driven by heightened geopolitical tensions and limited foreign inflows.
Iga Swiatek expressed her preference for the more intimate Grandstand court over the boisterous Arthur Ashe Stadium at the US Open. Other players like Alexander Zverev, Jakub Mensik, and Flavio Cobolli also commented on the challenging noise levels and crowd interactions at Flushing Meadows, highlighting the unique atmosphere compared to other tour events.
Carlos Alcaraz swapped his headline-making tank top for an undershirt after revealing too much chest, then beat Wu Yibing in straight sets to reach the US Open fourth round.
Haiwaan's staggeringly foolish notions make for unintended comedy, rues Sukanya Verma.
Formula One leader Kimi Antonelli secured a sensational victory at his home Italian Grand Prix, climbing from 19th on the grid to first, dealing a significant blow to Mercedes teammate and closest championship rival George Russell.
World number four Coco Gauff secured a hard-fought victory against Paula Badosa in the second round of the U.S. Open. Despite Badosa's strong challenge and previous wins against Gauff, the American triumphed in two sets, 6-4, 7-6(5), on a sweltering evening at Arthur Ashe Court, advancing her quest for a second title at Flushing Meadows.
The dupatta has officially met its match. Why spend half the evening pinning, pleating and desperately trying to keep a piece of fabric from slipping off your shoulder when you can simply throw on a cape and call it a day?
Blazers have officially left the boardroom and entered party territory. The right one can be sharper than a dress, cooler than a co-ord and just dramatic enough to make an entrance.
Indian benchmark equity indices, Sensex and Nifty, rebounded in early trade after a three-day slide, driven by strong buying in blue-chip bank stocks and a firm trend in global markets, supported by easing US bond yields and record foreign-currency deposit inflows.
There's something wonderfully fresh about the way the Bethlehem Kudumba Unit actress dresses, whether she's in floaty florals, pretty pastels or a traditional sari.
ICICI Bank has successfully raised $1 billion through a five-year senior unsecured US dollar bond, marking its first public dollar bond issuance since 2017 and the largest single-tranche US dollar bond issuance by an Indian issuer so far this year.
On screen, Niharika Chouksey is winning hearts with her bubbly, girl-next-door charm in Tum Se Tum Tak.
India's foreign exchange reserves increased by $9.9 billion to $716.9 billion for the week ended August 14, as reported by the Reserve Bank of India (RBI). This surge follows a previous jump of $14.14 billion in the week prior, indicating a robust recovery after a period of decline earlier this year.
Bruno Fernandes scored a hat-trick to lead Manchester United to a 5-2 victory over Ipswich Town, securing their first Premier League win of the season. The captain's performance underscored his dual role as a prolific goalscorer and elite playmaker, reaffirming his indispensable value to Michael Carrick's side.
Foreign Currency Non-Resident (Bank), or FCNR (B), deposits mobilised under the Reserve Bank of India's (RBI's) concessional swap facility may have already surpassed the amount raised during the 2013 scheme in just about 45 days, prompting SBI Research to sharply raise its estimate for inflows under the facility to $65-70 billion.
Reserve Bank of India Deputy Governor Rohit Jain has stated that India cannot rely solely on bank balance sheets to fund the extensive investment required for its 'Viksit Bharat' (developed India) goal by 2047, emphasising the critical need for deeper corporate bond, foreign exchange, and derivatives markets.
