Reserve Bank of India is to introduce a voluntary early retirement scheme for its employees.
'The State does not accept our rights, what more can I say about this judgment?'
India's foreign exchange reserves rose from $91,315 million to $91,892 million in the week ended October 24, according to the Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.
Amid uncertainties arising out of the second wave of COVID-19, the Reserve Bank on Thursday said that a durable revival of private consumption and investment would be critical for sustaining economic growth post-pandemic. Observing that 2020-21 has left a scar on the economy, RBI in its annual report said, "in the midst of the second wave as 2021-22 commences, pervasive despair is being lifted by cautious optimism built up by vaccination drives." The second wave of the pandemic has prompted revision of growth projections for the current fiscal and the consensus appears to be gravitating towards RBI's forecast of 10.5 per cent, the report added.
In the previous reporting week, the reserves had surged by $954.6 million to $294.36 billion.
India's foreign exchange reserves surged by $1.26 billion to $292.33 billion in the week ended February 7 on the back of a healthy increase in the currency assets, the Reserve Bank said.
India's foreign exchange reserves declined for the second consecutive week to $295.50 billion, down $12.6 million, in the week ended December 20, the Reserve Bank said.
An advisory body of EPFO has rejected a proposal to engage private banks -- ICICI, Axis and HDFC Bank -- for collection of PF contribution from employers.
The Reserve Bank on Thursday said the macroeconomic risks to the Indian economy have increased over the last six months due to the fall in growth, external sector developments and subdued performance of the corporate sector.
Justice Nazeer, along with then Chief Justice of India J S Khehar, was in minority in the 'triple talaq' judgement which was delivered in August 2017.
The move by the central bank follows concerns over tight liquidity conditions and banks' unwillingness to lend to NBFCs.
The Attorney General said that Mallya has not disclosed full details of his assets.
India's exchange reserves rose by a robust $2.03 billion to $277.38 billion in the week ended September 20 on a healthy increase in the core currency assets, Reserve Bank said.
Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding.
Observing that if people file an RTI query, they must know who the defaulters are, the bench asked the Reserve Bank of India (RBI) why the information on defaulters should be withheld
India's foreign exchange reserves shot up by $960.2 million to $280.17 billion on the back of a healthy rise in currency assets in the week ended July 26, Reserve Bank said.
The country's foreign exchange reserves dipped by $0.985 billion to $279.20 billion, the Reserve Bank said on Friday.
The BCCI top brass deliberated on the two subjects for more than an hour in the emergent meeting of the Apex Council on Monday.
Goldman said India's economy is likely to expand by 6.7 per cent in the current fiscal and 5.8 per cent in 2009-10. The gross domestic product growth rate was 9 per cent in the previous fiscal.
The Supreme Court has agreed to hear on Friday a plea seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to inquire and investigate into the Hindenburg Research report which has made a slew of allegations against the business conglomerate led by industrialist Gautam Adani.
The attorney general told the apex court that the invasion of privacy was very minimal in Aadhaar and it may not even be considered as an invasion.
She also said there was no independent application of mind by the Reserve Bank of India and only its opinion was sought, which cannot be said to be a recommendation.
RBI Governor Bimal Jalan on Thursday ruled out the possibility of a change in Repo rate, but hoped that inflation would turn soft from the second quarter of the current fiscal.
Sources said the two Acts will be amended to provide for voluntary sharing of the 12-digit identification number for obtaining new mobile phone connections and for the opening of bank accounts.
The 557th meeting of the Central Board was chaired by RBI Governor Raghuram Rajan, and attended by the four deputy governors among others
Foreign exchange reserves dipped marginally by $237.5 million to $355.221 billion in the week to June 26.
Close on the heels of one per cent cut in interest rate on small savings scheme and PPF in the Union Budget, the Reserve Bank of India announced on Friday a 0.5 per cent reduction in interest rate on savings account to 3.5 per cent effective Saturday
Gold reserves rose by $588.8 million to $21.566 billion, as per the RBI data.
The Supreme Court will decide whether banks can initiate insolvency proceedings while recovering dues from individual defaulters as private sector lender HDFC Bank has sought the apex court's intervention in this regard.
The Supreme Court on Tuesday said it will hear on December 6 the plea of a Congress leader challenging a recent notification by which the sale of electoral bonds has been extended by 15 more days in the year of general elections to legislative assemblies of states and Union territories (UTs) with a legislature.
India's forex reserves surged by a whopping $5.04 billion to $291.3 billion in the week ended November 29 on account of a robust jump in foreign currency assets (FCAs), the Reserve Bank said.
The Reserve Bank of India on Saturday decided to reduce the one-day and 14-day repo rate under the liquidity adjustment facility by 0.5 per cent to 4.5 per cent with effect from Monday.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
After rising for four consecutive weeks, India's foreign exchange reserves declined by $1.657 billion to $281.294 billion in the week to November 1 on account of drop in a key component, Reserve Bank said.
The Hinduja group is learnt to have backtracked from making a minimum Rs 8,950-crore offer for Reliance Capital (RCap) - a deal that it had belatedly put forth in December, after Torrent Investments emerged as the highest bidder for the bankrupt firm in the challenge process. The Hindujas' latest move has put Indian lenders, with an exposure of Rs 24,000 crore, in a spot as it was the former's revised offer that led to a call for a second auction and litigation by Torrent, which had placed a bid of Rs 8,649 crore in the first auction. Torrent has moved the Supreme Court and plans to wait for the apex court verdict before participating in any fresh auction. A banking source said there was an informal meeting of a few lenders of Reliance Capital with the bidders - the Torrent group and the Hinduja group on Friday when the latter changed its stand. The meeting of RCap's committee of creditors (CoC) is scheduled for Monday.
The gold reserves remained unchanged at $18.691 billion.
India's leading agri commodities bourse - the National Commodity and Derivative Exchange - has asked the government to permit banks to hedge at domestic commodity exchanges like international bourses.
Reserves had touched an all-time high of $355.46 billion in the week to June 19.
The gold reserves remained unchanged at $18.691 billion in the week.
