Towards the end of February, the Reserve Bank of India (RBI) restored the risk weighting on banks loans to non-banking financial companies (NBFCs; including to microfinance institutions, or MFIs) to 100 - back to its November 2023 position - from 125. It is only a partial relief though. "Higher risk weighting on unsecured lending continues to be in place while the same on bank funding to NBFCs has been done away with. "This is a positive step by RBI," says Rajiv Sabharwal, managing director (MD) and chief executive officer (CEO), Tata Capital.
Abuse of power, financial misconduct, and the never-ending turf wars are now coming to light as Boxing Federation of India's officials jostle to escape blame for the shocking turn of events.
The Real Effective Exchange Rate (REER) of the rupee moderated in December to 107.20 after hitting a peak of 108.14 in November, latest data released by the Reserve Bank of India (RBI) showed. The REER was 103.66 in January 2024. The rupee depreciated around 3 per cent against the dollar in 2024.
India's forex reserves jumped by $4.55 billion to $674.66 billion during the week ended August 16, the RBI said on Friday. In the previous week, the forex kitty had dropped by $4.8 billion to $670.12 billion.
The Reserve Bank on Friday raised the interest rate ceiling on NRI deposits in foreign currencies by up to 3 per cent, To attract inflows in view of falling rupee.
India's forex reserves jumped by $7.02 billion to touch a new high of $681.69 billion in the week ended August 23, the RBI said on Friday. The overall reserves had jumped by $4.55 billion to $674.66 billion in the previous reporting week. The previous all-time high for the overall reserves was recorded at $674.92 billion as on August 2.
The Reserve Bank of India (RBI) was a net seller of the US dollar in August, reversing its net buying position from July. During the current financial year up to August, the central bank had sold a net $1.11 billion. The RBI sold a net total of $6.49 billion worth of the foreign currency in August, according to the central bank's monthly bulletin.
India's forex reserves dropped by $4.8 billion to $670.12 billion for the week ended August 9, the Reserve Bank of India said on Friday. In the previous reporting week, the kitty jumped by $7.53 billion to an all-time high of $674.92 billion.
India's forex reserves dropped by $3.47 billion to $667.39 billion for the week ended July 26, according to the RBI data released on Friday. In the previous reporting week, the kitty had jumped by $4 billion to an all-time high of $670.86 billion.
Overseas Indians deposited around $4 billion in non-resident Indian (NRI) deposit schemes in April - June FY25, up 79 per cent over the amount deposited in these schemes in the same period last year, data released by the Reserve Bank of India (RBI) on Monday showed. In April - June FY25, inflows into the NRI schemes stood at $3.95 billion, compared to $2.21 billion during the same period a year ago. With this, the total outstanding NRI deposits as of June stood at $155.71 billion.
India's forex reserves jumped by $7.53 billion to a new record high of $674.92 billion for the week ended August 2, the Reserve Bank said on Friday. The overall kitty had dropped by $3.471 billion to $667.386 billion in the previous reporting week ended July 26.
Surpassing the all-time high level achieved the previous week, India's forex reserves jumped by another $4 billion to $670.86 billion for the seven days ended July 19, the Reserve Bank said on Friday. The overall reserves had jumped by $9.7 billion to an all-time high of $666.85 billion in the week ended July 12.
India's forex reserves jumped by $9.7 billion to an all-time high of $666.85 billion for the week ended July 12, the RBI said on Friday. In the previous reporting week, the kitty had increased by $5.16 billion to $657.16 billion, surpassing the previous high of $655.82 billion for the week ended June 7.
A huge amount of foreign currency was seized during raids at a transit home of 17th Karmappa Ugyen Trinley Dorje at Sidhbari near Dharamsala.
India's forex reserves dropped $1.71 billion to $651.99 billion for the week ended June 28, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall kitty had dropped $2.92 billion to $652.89 billion. The reserves had touched an all-time high of $655.82 billion as on June 7 this year.
India's forex reserves jumped $5.16 billion to $657.16 billion during the week ended July 5, the Reserve Bank of India (RBI) said on Friday. The forex kitty had declined for the previous two consecutive weeks, dropping $1.71 billion to $652 billion for the week ended June 28. The reserves had touched an all-time high of $655.82 billion as on June 7 this year.
The Reserve Bank of India has observed that several banks were not complying with the guidelines issued by it on reporting revaluation of foreign currency assets and liabilities, which sometimes led to errors.\n\n
The Standard Chartered Bank has struck an on-shore foreign currency option transaction with Reliance Industries Ltd for $30 million, allowing RIL to hedge its dollar exposure.
The country's largest airline IndiGo on Friday saw its profit after tax slide 18.3 per cent to Rs 2,448.8 crore in the three months ended December 2024 due to foreign exchange loss even as revenue jumped on higher capacity and passenger traffic. The carrier, which had a fleet of 437 planes at the end of December, is planning to induct wet leased planes for long range flights and expects the number of grounded aircraft to come down to 40s by the start of next financial year from the current level of 60s.
India's forex reserves jumped by $816 million to $653.71 billion for the week ended June 21, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped by $2.92 billion to $652.89 billion.
'Investors with foreign currency-denominated goals, such as foreign education or foreign travel, should go for US equity funds.'
The quantum of fake Swiss francs remained much higher.
India's forex reserves dropped by $2.922 billion to $652.9 billion for the week ended June 14, the Reserve Bank said on Friday. In the previous reporting week, the kitty had jumped by $4.307 billion to $655.817 billion, a new all-time high after consecutive weeks of increase in the reserves.
India's foreign exchange reserves fell for the fourth consecutive week after reaching an all-time high last month. In the week ending October 25, the forex reserves declined by $3.46 billion to $684.80 billion, according to data released by the Reserve Bank of India (RBI) on Friday. In the three preceding weeks, reserves dropped by $3.7 billion, $10.7 billion, and $2.16 billion, respectively, the data showed.
'If it doesn't, it will continue with measures to infuse liquidity, signalling a new cycle,' predicts Tamal Bandyopadhyay.
India's forex reserves dropped by $2.03 billion to $646.67 billion for the week ended May 24, the Reserve Bank said on Friday. In the previous reporting week, the kitty had reached an all-time high of $648.7 billion after a jump of $4.55 billion.
India's forex reserves jumped $4.307 billion to a new all-time high of $655.82 billion for the week ended June 7, the Reserve Bank of India (RBI) on Friday. The kitty had jumped $4.84 billion to $651.51 billion in the previous reporting week.
As part of developing the derivative market in India, Reserve Bank of India has permitted the foreign currency-rupee options with effect from July seven, 2003.
India's forex reserves jumped $2.56 billion to $644.15 billion for the week ended May 10, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the kitty had increased $3.67 billion to $641.59 billion after three consecutive weeks of decline.
India's forex reserves jumped $4.54 billion to a new all-time high of $648.7 billion for the week ended May 17, the Reserve Bank said on Friday. This is the third consecutive week of increase in the overall kitty, which had increased by $2.56 billion to $644.15 billion in the previous reporting week ended May 17.
The rupee tumbled 3 per cent against the US dollar in 2024 as concerns over slower economic growth and a stronger greenback in global markets weighed, but it was among the least volatile currencies in the world and the headwinds may be less intense in the coming year.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
After three consecutive weeks of drop, India's forex reserves increased by $3.67 billion to $641.59 billion for the week ended May 3, the RBI said on Friday. The overall kitty dropped $2.412 billion to $637.922 billion for the previous week ended April 26.
India's forex reserves dropped $2.412 billion to $637.922 billion as on April 26, in the third consecutive weekly decline in the reserves, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall reserves had declined $2.28 billion to $640.33 billion. For the week ended April 5, the reserves had hit an all-time high of $648.562 billion following multiple weeks of increases.
The RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth. Das, a career bureaucrat who in 2016 oversaw Prime Minister Narendra Modi's highly disruptive demonetisation move, left a lasting legacy as he demitted office towards the end of 2024 after expertly navigating monetary policy for six years, the highlight of which was steering India's recovery through the pandemic.
After mutual funds and banks, the Reserve Bank of India on Friday stepped in to help cash-strapped non-banking financing companies by allowing a majority of them to raise up to $10 million through short-term foreign currency loans.
India's forex reserves declined $5.24 billion to $617.23 billion for the week ending February 9, according to weekly data released by the Reserve Bank of India (RBI) on Friday. The forex kitty stood at $622.5 billion for the week ended February 2. However, in the current fiscal, the forex reserves have increased $50.28 billion, the RBI data showed.
The Reserve Bank of India (RBI) has permitted housing finance companies (HFCs) to raise up to $10 million through short-term foreign currency loans, like non-bank finance companies (NBFCs).
Just 40 per cent of India Inc's forex loans are hedged.
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