'Monsoon is the pran (life) of our water system.' 'A weak monsoon will have a very negative impact on crops and people's lives.'
Gold prices experienced a significant drop in futures trading due to global selloff, inflation concerns, and a strong US dollar. Analysts predict a continued downward trend amid geopolitical tensions and potential rate hikes.
Raghuram Rajan rejected the argument that inflation has come down largely because of "good luck" stemming from low oil prices.
'Whether you will bring this down and cause hurt to senior citizens, who are probably living on that little interest rate that they earn out of it... But equally, if I just look at the kitty of the National Small Savings Fund, it is from that same kitty that I'm borrowing.'
State-run Central Bank of India on Thursday said Reserve Bank of India's credit policy initiative has increased pressure on interest rates.
Head of central banks from various countries get into a 'Basel huddle' every second month at Basel at the headquarters of the Bank for International Settlement.
Union Home Minister Amit Shah criticised the Congress party for its alleged inaction in addressing Maoist violence during its long rule, while highlighting the Modi government's success in nearly eradicating Maoists from Bastar, Chhattisgarh.
The high-pitched campaign for the first phase of West Bengal assembly elections concluded with the BJP and TMC focusing on electoral rolls and dietary habits, while making promises to voters. Voting is scheduled in 152 constituencies across north Bengal and southern districts, with over 3.60 crore electors eligible to vote. A record number of Central paramilitary forces have been deployed, and several districts have been identified as highly sensitive.
Airpay Payment Services has partnered with Maharashtra State Co-operative Bank (MSCB) to enable UPI-based digital payments across the lender's network in Maharashtra, aiming to accelerate financial inclusion in rural areas.
The Indian government has launched the Urban Challenge Fund (UCF) with a total outlay of Rs 1 lakh crore, aiming to leverage private and market finance for urban infrastructure projects by providing state support in capacity building and credit guarantees.
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.
India's forex reserves dropped by $9.8 billion to $686.81 billion in the week to January 2, the Reserve Bank of India (RBI) said on Friday.
India's forex reserves jumped by $8 billion to an all-time high of $709 billion during the week ended January 23, the RBI said on Friday.
The total reserves increased to $701.3 billion on the back of a rise in foreign currency assets which increased by $9.6 billion to $560 billion during the reported week.
India's foreign exchange reserves jumped by $14 billion to $701 billion during the week ended January 16, the Reserve Bank said on Friday. The overall reserves had increased by $392 million to $687 billion in the preceding week.
RBI's oversight cadre move creates HR trouble, officers threaten agitation.
Indian economy grew at 7.9 per cent in fourth quarter of 2015-16.
The Central Board of Indirect Taxes and Customs (CBIC) has enabled UPI, debit, and credit card payments for Customs duty on the ICEGATE portal, enhancing ease of doing business for importers and exporters.
Voices from the Treasury are clamouring for lowering rates as this would boost demand.
The campaign for the current election cycle ended on Monday as canvassing for the final phase in West Bengal concluded with a bitter war of words between rival parties over cross-border infiltration, corruption, unemployment and the Special Intensive Revision (SIR) of electoral rolls.
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.
Central Bank of India said on Tuesday it has an exposure of Rs 49 crore (Rs 490 million) to Raju-family owned Maytas and is 'willing' to lend to Satyam Computer Services if the company approaches it with a viable proposal. Central Bank of India has a total loan book of Rs 81,000-crore (Rs 810 billion), out of which nearly 27 per cent was contributed by its corporate portfolio.
Prime Minister Narendra Modi criticised the ruling TMC in West Bengal, alleging corruption and appeasement politics, while promoting the BJP's development agenda ahead of the assembly elections.
The state-owned bank's loss largely offsets the Rs 1,800-crore (Rs 18-billion) capital injection the government will make in FY14.
The Reserve Bank of India (RBI) has allowed banks to grant need-based working capital loans to manufacturers using gold as raw material, extending the provision currently available only to jewellers. Banks are generally prohibited from lending for the purchase of gold/silver in any form, or lending against the security of primary gold/silver.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
The Reserve Bank of India (RBI) on Tuesday announced a fresh round of liquidity measures through open-market operations (OMOs) and a foreign exchange buy-sell swap, under which it will inject close to Rs 3 trillion into the banking system. The central bank said it would purchase Government of India securities worth Rs 2 trillion through OMOs, spread across four tranches of Rs 50,000 crore each to be conducted on December 29, January 5, January 12 and January 22.
The Hazaribag Superintendent of Police (SP) Office treasury scam has seen further developments with more arrests and a significant increase in the embezzlement amount to 28 crore. The investigation continues, with authorities pursuing leads in Bihar and freezing suspicious accounts.
Gold ETFs attracted around Rs 11,700 crore, the highest in a calendar month.
The previous largest weekly decline was recorded in the week ended November 15, 2024.
As deposit growth lags credit expansion, Indian banks face shrinking low-cost Casa inflows, rising funding costs, and structural shifts driven by UPI, e-Kuber, and digital savings trends, points out Tamal Bandyopadhyay.
Industrialist Anil Ambani has approached the Supreme Court seeking a court-facilitated debt resolution similar to the one provided to Sterling group's Nitin and Chetan Sandesara, and five other members of their families.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
Uttar Pradesh Chief Minister Yogi Adityanath criticised the TMC government in West Bengal, accusing it of appeasement policies and urging voters to elect a BJP government for inclusive governance and development.
Reserve Bank Governor Sanjay Malhotra on Friday said the key policy rates will remain at low levels for a long period and may go down even further.
The London High Court has rejected Nirav Modi's petition to reopen his extradition case, citing the Indian government's assurances regarding his treatment in India as a key factor in their decision.
India's household debt climbed to 41.3 per cent of gross domestic product (GDP) at the end of March 2025, marking a sustained rise from its five-year average of 38.3 per cent, with consumption-related loans accounting for bulk of the borrowings, the Reserve Bank of India (RBI) said in its Financial Stability Report.
Gold prices are expected to remain volatile next week as investors track geopolitical developments in the Middle East and key macroeconomic data releases that could shape the sentiment in the domestic market, analysts said.
'In practical terms, a Master Circular is not merely desirable; it is a necessary transition tool to ensure that the promise of simplification under the Income-Tax Act, 2025, is fully realised.'
The UK High Court has rejected Nirav Modi's attempt to reopen his extradition case, citing the Indian government's comprehensive assurances against torture as sufficient to allow his transfer to India.
