It underperformed peers amid volatile capital flows and uneven forex support.
Importers are rushing to hedge their dollar positions amid the sharp depreciation of the rupee against the American currency and expectations of further volatility even as exporters are holding off after suffering mark-to-market (MTM) losses on earlier hedges.
The United Nations Security Council has adopted a draft resolution endorsing United States President Donald Trump's Gaza peace plan and authorising the establishment of an international stabilisation force in the enclave, with the American leader describing it as a 'moment of true historic proportion'.
Floods have damaged over 110 km of the India-Pakistan border fence and inundated approximately 90 Border Security Force (BSF) posts in Jammu and Punjab. Restoration efforts are underway.
The Border Security Force (BSF) is raising a maiden 'drone squadron' for deployment along the India-Pakistan border. The squadron will comprise reconnaissance, surveillance and attack drones and specially-trained personnel.
India posted a current account surplus of $13.5 billion or 1.3 per cent of GDP in March quarter 2024-25 as compared with $4.6 billion in the year-ago period mainly on account of surge in services exports and higher remittances, according to RBI data released on Friday.
The two policy decisions to bolster BSF capabilities at this front have been taken in the wake of the stepped up security arrangements along the border following the fall of the Sheikh Hasina government in Bangladesh on August 5, 2024.
Tahawwur Rana, accused in the 2008 Mumbai terror attacks, has been extradited to India after the US Supreme Court denied his last-ditch effort to avoid being sent back. Rana, a close associate of David Coleman Headley, another key conspirator in the attacks, was expected to be extradited "shortly" after his legal appeals failed. This decision comes after a multi-agency team from India traveled to the US to complete all necessary paperwork and legalities with the US authorities. Rana's extradition marks a significant development in the pursuit of justice for the victims of the Mumbai attacks.
The Olympic and World champion cleared 6.27m on his first attempt to break his previous global mark of 6.26 set in Silesia in August.
Amateur Ham Radio operators have picked up suspicious late-night radio signals in coded Bengali, Urdu and Arabic along the Indo-Bangladesh border in South Bengal over the last two months, raising concerns about possible extremist activities. The signals, which have been detected between 1 AM and 3 AM, are unusual in their pattern and language usage, according to Ham radio operators, who have reported the matter to authorities. The development comes amidst ongoing unrest in Bangladesh and growing anti-India rhetoric in the neighbouring country. Security agencies are investigating the matter, and the Border Security Force (BSF) has acknowledged the seriousness of the situation.
The recently released RBI First Quarter Review of Monetary Policy 2009-10 and the accompanying 'Macroeconomic and Monetary Developments First quarter review 2009-10 have indicated that on the basis of Balance of Payments (BoP) the export growth for 08-09 has declined by over 22% to 5.4% and also the import growth has declined by over 21% during the same period.
Cheering on RCB was Australian Open Doubles Champion Rohan Bopanna.
While liquidity in the banking system has turned surplus in the last few weeks, it could go back to deficit again, mainly due to corporate advance tax outflows. The net liquidity surplus of the banking system rose to touch Rs 1 trillion on Tuesday on the back of government spending, according to the data released by the Reserve Bank of India.
While Satya's pleasures are palpable -- among them the poetry of the coarse language, the mercifully rough-hewn texture, the oh-so-familiar underdog story -- these pleasures hit you at a completely different speed. The movie is charged with a sense of discovery, and every shot is a cornucopia of details existing independent of the main story. It's touching, notes Sreehari Nair.
The country's current account deficit widened marginally to $9.7 billion or 1.1 per cent of GDP in April-June 2024, as against $8.9 billion or 1 per cent in the year-ago period, Reserve Bank of India said on Monday. The crucial number representing the country's external sector strength has come on the heels of a surplus of $4.6 billion or 0.5 per cent of GDP recorded in the preceding January-March quarter. The Reserve Bank attributed the year-on-year widening in current account deficit to a rise in merchandise trade gap which was recorded at $65.1 billion in Q1 FY25 as compared to $56.7 billion in the year-ago period.
In yet another ceasefire violation, Pakistan on Thursday again resorted to firing on Border Out Posts along the International Border in the Samba and Jammu districts of Jammu and Kashmir.
Pakistan Rangers violated ceasefire again by targeting Border Outs Posts with small arms and automatic weapons along International Border in Jammu district, prompting Border Security Force troops to retaliate.
The Reserve Bank of India has approved the merger of Centurion Bank and Bank of Punjab to be effective from October 2005.
After a week-long lull in firing from across the International Border, Pakistani Rangers on Thursday violated the ceasefire and targeted a Border-out-Post in the R S Pura sector of Jammu.
The cricketing extravaganza became a business opportunity for everyone, from five-star hotels to cafes to street vendors across the country on Sunday.
India's current account deficit narrowed to $1.3 billion or 0.2 per cent of GDP in the January-March quarter of FY23, mainly due to moderation in the trade deficit and a robust increase in services exports, RBI data showed on Tuesday. However, for the 2022-23 fiscal, the current account balance recorded a deficit of 2 per cent of GDP compared to 1.2 per cent in 2021-22. "India's current account deficit (CAD) decreased to $1.3 billion (0.2 per cent of GDP) in Q4:2022-23 from $16.8 billion (2.0 per cent of GDP) in Q3:2022-231, and $13.4 billion (1.6 per cent of GDP) a year ago [Q4:2021-22]," as per the RBI's 'Developments in India's Balance of Payments during the Fourth Quarter (January-March) of 2022-23'.
India's current account deficit declined sharply to 1 per cent of the GDP or $8.3 billion in the second quarter of this financial year, mainly due to lower merchandise trade deficit and growth in services exports, according to a RBI data released on Tuesday. The current account deficit (CAD), which represents the difference between the total amount of money sent abroad and money received from overseas across the economy, was 3.8 per cent of GDP or $30.9 billion in the July-September quarter in 2022-23. CAD was $9.2 billion or 1.1 per cent of GDP in the first quarter (April-June) of the current financial year 2023-24.
This is the second such incident along the India-Pakistan border in Jammu division in two days.
No.1 ranking will inspire 'Gen-Next' of Indian tennis, says Rohan Bopanna after achieving the feat
The move bears significance in view of the increased Chinese activities along the border and transgressions by China's People's Liberation Army (PLA).
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Joshna Chinappa is making a 'mind-boggling' sixth appearance at the Asian Games, having made her debut as a 15-year-old a couple of decades ago in 2002.
Terror outfit Jaish-e-Mohammed's chief Masood Azhar Alvi along with five other Pakistani terrorists, two slain terrorists are among 12 people charge-sheeted in a case related to a terror attack in April ahead of Prime Minister Narendra Modi's maiden visit to Jammu and Kashmir's after the abrogation of Article 370.
Hinting at further relaxation in the capital account convertibility norms, RBI Deputy Governor T Rabi Sankar on Thursday said the country is on the cusp of some fundamental shifts with regard to currency management. India has come a long way in achieving increasing levels of convertibility on the capital account and has broadly achieved the desired outcome for the policy choices in terms of achieving a stable composition of foreign capital inflow, Sankar said while addressing the Foreign Exchange Dealers' Association of India's (FEDAI) annual day meeting. Convertibility refers to the ability to convert domestic currency into foreign currencies and vice versa to make payments for balance of payments transactions.
Nothing adds more festivity to a Christmas spread than gingerbread men or shapes and Xmasy cupcakes.
Reserve Bank Governor Shaktikanta Das on Friday said 67 per cent of the decline in the foreign exchange reserves since April was due to valuation changes arising from strengthening US dollar and higher American bond yields. The forex reserves, which stood at $606.475 billion as on April 2, have declined to $537.5 billion as on September 23. It was also the eighth straight week when the reserves declined.
India's current account surplus moderated to $15.5 billion or 2.4 per cent of the GDP in the July-September quarter of the current fiscal, the RBI said on Wednesday. The same was at $19.2 billion or 3.8 per cent of the GDP in the preceding three-month period on account of a rise in the merchandise trade deficit, the RBI said in a statement on 'Developments in India's Balance of Payments during the Second Quarter (July-September) of 2020-21'. It is for the third consecutive quarter that India's current account remained in surplus. In the last quarter of 2019-20, the surplus was $0.6 billion. Current account deficit/surplus reflects the difference between the outflow and inflow of foreign exchange in a country's current account.
The chief minister's statement came in the backdrop of tension between the two Northeastern states following alleged encroachment of land in Cachar district by the people of Mizoram.
A key player in India's Davis Cup tie against Uzbekistan, Prakash Amritraj on Wednesday allayed fears of his under preparedness owing to a stomach ailment and said he was fit and confident to take the courts on Friday.
Surplus liquidity in the banking system as measured by absorption of excess funds by the Reserve Bank of India (RBI) fell sharply at the end of the last week due to outflows on account of advance tax payments. According to the RBI data, the net liquidity absorbed by the central bank on September 16 was at Rs 3,243.57 crore, much lower than the average of Rs 56,809.92 crore in the preceding four days of the week. The average absorption of funds by the RBI so far in September is at Rs 1.13 trillion, against the average of Rs 1.2 trillion in the previous month, the data showed.
Foreign portfolio investor (FPI) flows into India may remain tepid in 2022, said a recent note by Goldman Sachs, who now peg the foreign portfolio investment into India at $5 billion in 2022, down from their earlier forecast of $30 billion with risks skewed to the downside. "There has been $15 billion of equity outflows YTD in India already, and the IPO of the largest insurance company has been pushed out. "Additionally, with no mention of India's inclusion in global bond indices in the Union Budget, there are risks to our already conservative base case assumption of an announcement of India's likely inclusion into the GBI-EM Global Diversified Bond Index in Q4-2022," wrote Andrew Tilton, Goldman Sachs' chief Asia-Pacific economist in a co-authored report with Santanu Sengupta and Suraj Kumar.
Near-term movements of INR will continue to be shaped by the capital flows situation, which in turn will be influenced by developments in Europe.
Driven by a surge in remittances by expatriates and software exports, India's balance of payments saw a surplus of $1.90 billion on current account for the first quarter ending June 2004 as against a deficit of $637 million
Shah accused the ruling TMC in Bengal of "spreading canards" about the Citizenship (Amendment) Act
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