The country's foreign exchange reserves touched a life time high of USD 555.12 billion after it surged by USD 3.615 billion in the week ended October 16, according to RBI data.
The country's gold reserves remained unchanged at $19.377 billion.
In the previous reporting week, the reserves had surged by $954.6 million to $294.36 billion.
The NCB claimed that 'incriminating' evidence comprising of digital evidence, call record details, WhatsApp chats, location tags, video and voice recordings, and several other documents had been submitted.
Global rating agency Moody's Investor Services in its latest report said the strong fundamentals, combined with upturn in savings and investment as well as rising rate of potential growth, supports the Indian government's foreign currency sovereign medium investment grade (Baa3) bond rating and local currency speculative grade (Ba2) bond rating.
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
Continuing its downward trend for the fifth consecutive week, the foreign exchange reserves plunged $2.754 billion to $311.427 billion in the week to October 3, led by a major fall in non-US currency assets, according to data released by the RBI.
Global agency Fitch Ratings on Tuesday retained India's long-term foreign and local currency ratings at the speculative grade, saying that while the country's external account had improved, local public finances had deteriorated.
Fitch on Tuesday affirmed India's sovereign rating at 'BBB-' with a stable outlook, on robust growth and resilient external finances, but said weak public finances remain a challenge. India's rating has been unchanged at 'BBB-', which is the lowest investment grade, since August 2006. "Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook," it said in a statement, adding strong growth potential is a key supporting factor for the sovereign rating.
The singer was detained at New Delhi Indira Gandhi International airport on Sunday by the Directorate of Revenue Intelligence officials after he and two of his troupe members were caught allegedly carrying $1.24 lakh (about Rs 60 lakh) in undeclared foreign currency.
The foreign currency assets increased by $1.808 billion to stand at $224.870 billion as against $223.062 billion in the previous week, the Reserve Bank data stated.
The apex bank held 586.44 tonne of gold as on September 30, of which 294.14 tonne are held overseas in safe custody with the Bank of England and the Bank for International Settlements, while the remaining gold is held domestically
Thousands of irate anti-government protesters in Sri Lanka on Saturday stormed into embattled President Rajapaksa's official residence in central Colombo's high-security Fort area after breaking the barricades, as they demanded his resignation over the island nation's worst economic crisis in recent memory.
A group of protesters on Saturday entered the private residence of Sri Lankan Prime Minister Ranil Wickremesinghe and set it on fire, hours after he offered to resign to make way for an all-party government amid unprecedented protests in the country for the resignation of the government led by President Gotabaya Rajapaksa.
Pakistani singer Rahat Fatah Ali Khan, who was briefly detained in India for possessing foreign currency, today said he will visit the country again if "respectfully" invited, even as he admitted guilt and claimed he was 'unaware' of Indian custom laws.
Billionaire Mukesh Ambani's Reliance Industries on Saturday said it will raise as much as $5 billion in foreign currency-denominated bonds and use the proceeds to retire existing borrowings. In a stock exchange filing, the company said the Finance Committee of the company board at its meeting on Saturday approved a "proposal for issuance of senior unsecured US Dollar-denominated fixed-rate notes from time to time, for an aggregate amount up to $5 billion, in one or more tranches".
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The country's foreign exchange reserves surged to $576.98 billion as on March 31, 2021 from $544.69 billion at September-end last year, an RBI report said. Foreign currency assets (FCA), a major component of the overall reserves, increased to $536.693 billion as at March-end 2021 from $502.162 billion, the report noted. On balance of payments basis (excluding valuation changes), foreign exchange reserves increased by $83.9 billion during April-December 2020 as compared with $40.7 billion in the year-ago period, it said.
Trading in currency futures will soon become a reality for the retail investor. With the Reserve Bank of India and the Securities and Exchange Board of India issuing trading norms, exchanges are readying themselves to launch this product in the next few weeks.
The total reserves had gone up by $982 million in the previous reporting week.
The rupee on Thursday plunged by a whopping 130 paise to hit life-time low of 60 against the US dollar in early trade on the Interbank Foreign Exchange on strong demand for the American currency from banks and importers
The country's foreign exchange reserves dipped by $0.985 billion to $279.20 billion, the Reserve Bank said on Friday.
The country's foreign exchange reserves rose by $21.1 million to $280.19 billion, the Reserve Bank said.
The 73-year-old United National Party was appointed as the prime minister by President Gotabaya Rajapaksa after they held closed-door discussions on Wednesday.
Sri Lanka's ministry of defence on Tuesday ordered the army, air force and navy personnel to open fire on anyone looting public property or causing harm to others amidst violent protests in the island nation over the unprecedented economic crisis.
The rupee breached the 80-mark against the dollar on Tuesday. The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India. The listed companies' revenue expenses in foreign currency or imports exceed their export revenues or revenue earnings in forex. In their latest financial year, BSE500 companies, excluding banks and non-banking finance companies and insurance (BFSI), reported combined forex expenses of Rs 12.31 trillion against forex earnings of around Rs 10 trillion.
The police on Sunday questioned the Karmapa and also arrested two more persons in connection with the seizure of foreign currency worth over Rs 7.5 crore from the offices of a trust backed by him. The Karmapa denied any Chinese links and said the charges against him were 'grossly speculative and without foundation'. A team of state police officers put nearly 50 questions to Karmapa Ogyen Trinley Dorje at Gyuto Monastery at Sidhbari.
India's foreign exchange reserves fell for the next time in a row by $2.58 billion to $ 252.18 billion in the week ended January 16, 2009 mainly due to revaluation of foreign currency and heavy pullout by the foreign institutional investors.
In a dazzling resurgence, foreign investors have graced the Indian equity markets with an influx of nearly Rs 1.5 lakh crore in 2023, fuelled by optimism over the country's resilient economic fundamentals amid shadows of a gloomy global scenario. Experts believe that the positive trend may continue in 2024. This follows Indian equities witnessing the worst-ever net outflow of Rs 1.21 lakh crore by FPIs in 2022 on aggressive rate hikes by the central banks globally after net inflows for three consecutive years.
General Chauhan emphasised the need for astute handling of the PLA (People's Liberation Army) at all friction points concerning the disputed borders.
A pregnant Sri Lankan woman, who had been in a queue for two days to obtain a passport to leave the crisis-hit country for employment overseas, went into labour while waiting for her turn on Thursday and delivered a baby girl.
Lord Jo Johnson, younger brother of former British prime minister Boris Johnson, has resigned his non-executive directorship of a UK-based investment firm linked with the now-withdrawn Adani Enterprises Follow-on Public Offer (FPO). 'The Financial Times' newspaper referenced UK Companies House records to reveal that 51-year-old Lord Johnson had been appointed as a director of London-based Elara Capital Plc in June last year and resigned on Wednesday, the day when the Adani Group announced withdrawal of the FPO. Elara, which described itself as a capital markets business raising funds for Indian corporates, was among the bookrunners on the FPO.
After Bandhan MF's US Treasury Bond 0-1 year Fund of Fund (FoF), Aditya Birla Sun Life (ABSL) MF has come out with US Treasury 1-3 Year Bond ETFs FoF and 3-10 Year Bond ETFs FoF. US bonds, which generally offer low yields, have turned attractive post the 525-basis point hike in US interest rates. According to Bloomberg data, the 1-year and 2-year US treasury yields now stand at 5.4 per cent and 5.1 per cent, respectively. Although the yields remain lower than what Indian government bonds offer, the differential has come down steeply.
The country's foreign exchange reserves surged by $58.38 billion in April-September 2021 to $635.36 billion, says an RBI report released on Wednesday. The forex reserves were at $576.98 billion at end-March 2021. The Reserve Bank of India (RBI) publishes half-yearly reports on management of foreign exchange reserves.
The decision was taken during a crucial all-party leaders meeting held earlier in the day.
Commerce and Industry Minister Anand Sharma today assured exporters of government mediation to ensure that they get foreign currency loans at the new lower rate set by the RBI amid complaints against banks levying additional charges.
The budget has strong growth impulses and response of the economy is positive.
India's foreign exchange reserve went up by $3.59 billion to $254.05 billion during the week ended December 19, 2008 mainly on account of revaluation in foreign currency. The foreign currency assets rose by $3.58 billion to $ 245.30 billion, according to the latest data released by the Reserve Bank of India on Friday.
The rupee gained 11 paise to 82.68 against the US dollar in early trade on Tuesday as the American currency retreated from its elevated levels. Forex traders said sustained foreign fund outflows weighed on the local unit and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at 82.69 against the dollar and marginally rose to 82.68, registering a rise of 11 paise over its previous close amid a positive trend in domestic equities.
Reserve Bank of India on Thursday said a centralised portal would be ready in three to four months wherein depositors and beneficiaries can access details of unclaimed deposits across various banks. As of February this year, about Rs 35,000 crore of unclaimed deposits were transferred to RBI by public sector banks in respect of deposits which were not operated for 10 years or more. "In order to improve and widen the access of depositors/beneficiaries to such data, RBI has decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits based on user inputs," RBI Governor Shaktikanta Das said while announcing the first bi-monthly monetary policy for the current financial year.
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