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The Indian rupee opened at 84.83 against the US dollar on Monday, a depreciation of 4 paise compared to the previous close of 84.79. The decline in the rupee is largely attributed to the uncertainty following the announcement of a leadership transition at the Reserve Bank of India (RBI). Shaktikanta Das will be succeeded by Sanjay Malhotra, sparking initial concerns in the market. However, markets quickly adjusted to the news, with experts noting that the RBI is closely monitoring banking sys
The Indian rupee opened at 84.83 against the US dollar on Monday, a depreciation of 4 paise compared to the previous close of 84.79. The decline in the rupee is largely attributed to the uncertainty following the announcement of a leadership transition at the Reserve Bank of India (RBI). Shaktikanta Das will be succeeded by Sanjay Malhotra, sparking initial concerns in the market. However, markets quickly adjusted to the news, with experts noting that the RBI is closely monitoring banking sys
On Thursday, the Reserve Bank of India (RBI) received a bomb threat via email, which was written in Russian. The threat, sent to the RBI's official website, claimed that the bank would be blown up. Following the threat, a case was registered at the Mata Rambai Marg (MRA Marg) police station in Mumbai, and an investigation has been launched.
This incident comes after a similar threat was made to the RBI through its customer care number on November 16, with the caller claiming to
On Thursday, the Reserve Bank of India (RBI) received a bomb threat via email, which was written in Russian. The threat, sent to the RBI's official website, claimed that the bank would be blown up. Following the threat, a case was registered at the Mata Rambai Marg (MRA Marg) police station in Mumbai, and an investigation has been launched.
This incident comes after a similar threat was made to the RBI through its customer care number on November 16, with the caller claiming to
Australia is introducing new rules to compel large tech companies, including Google, Meta, and TikTok, to pay local publishers for news content. These companies, whose annual Australian revenue exceeds $250 million, will need to negotiate commercial deals with media organizations or face increased taxes. This move builds on the world-first law passed in 2021, which forced tech giants like Meta and Google to pay for news content shared on their platforms.
The new rules aim to pressur
Australia is introducing new rules to compel large tech companies, including Google, Meta, and TikTok, to pay local publishers for news content. These companies, whose annual Australian revenue exceeds $250 million, will need to negotiate commercial deals with media organizations or face increased taxes. This move builds on the world-first law passed in 2021, which forced tech giants like Meta and Google to pay for news content shared on their platforms.
The new rules aim to pressur
India's inflation rate, based on the Consumer Price Index (CPI), moderated to 5.48% in November, down from 6.21% in October, according to the Ministry of Statistics and Programme Implementation. This easing, however, is still above the Reserve Bank of India's (RBI) target of 4%, with food prices continuing to drive inflationary pressure. The food inflation rate surged by 9.04%, continuing its trend of high costs.
Economists had forecast a median inflation estimate of 5.5% fo
India's inflation rate, based on the Consumer Price Index (CPI), moderated to 5.48% in November, down from 6.21% in October, according to the Ministry of Statistics and Programme Implementation. This easing, however, is still above the Reserve Bank of India's (RBI) target of 4%, with food prices continuing to drive inflationary pressure. The food inflation rate surged by 9.04%, continuing its trend of high costs.
Economists had forecast a median inflation estimate of 5.5% fo
Sanjay Malhotra, a 1990-batch IAS officer from Rajasthan, has been appointed as the 26th Governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das. The government announced that Malhotra will take charge from Wednesday for a term of three years. With a background in computer science from IIT Kanpur and a Master's in Public Policy from Princeton University, Malhotra has had a distinguished career spanning over three decades in various sectors, including finance, taxation, pow
Sanjay Malhotra, a 1990-batch IAS officer from Rajasthan, has been appointed as the 26th Governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das. The government announced that Malhotra will take charge from Wednesday for a term of three years. With a background in computer science from IIT Kanpur and a Master's in Public Policy from Princeton University, Malhotra has had a distinguished career spanning over three decades in various sectors, including finance, taxation, pow
India's foreign exchange reserves saw an increase to $658.1 billion for the week ending November 29, according to the Reserve Bank of India (RBI). This rise followed an eight-week decline, with a $1.5 billion increase from the previous week. In comparison, the reserves had dropped by $1.31 billion in the prior week, reaching $656.58 billion.
Foreign investors have invested Rs 1.75 lakh crore into India's debt and equity markets in 2024. However, the month of November witness
India's foreign exchange reserves saw an increase to $658.1 billion for the week ending November 29, according to the Reserve Bank of India (RBI). This rise followed an eight-week decline, with a $1.5 billion increase from the previous week. In comparison, the reserves had dropped by $1.31 billion in the prior week, reaching $656.58 billion.
Foreign investors have invested Rs 1.75 lakh crore into India's debt and equity markets in 2024. However, the month of November witness
In November, the median perception of current inflation among households increased to 8.4%, up by 30 basis points from the previous survey round in September, according to the Reserve Bank of India (RBI) Households’ Inflation Expectations Survey. Meanwhile, expectations for inflation over the next three months moderated slightly by 10 basis points, reaching 9.1%. However, households' expectations for inflation a year ahead inched up by 10 basis points to 10.1%.
The survey
In November, the median perception of current inflation among households increased to 8.4%, up by 30 basis points from the previous survey round in September, according to the Reserve Bank of India (RBI) Households’ Inflation Expectations Survey. Meanwhile, expectations for inflation over the next three months moderated slightly by 10 basis points, reaching 9.1%. However, households' expectations for inflation a year ahead inched up by 10 basis points to 10.1%.
The survey
The Indian rupee ended the trading session stronger after the Reserve Bank of India (RBI) decided to keep the benchmark interest rates unchanged, while unveiling measures aimed at improving liquidity in the banking system. The domestic currency gained 3 paise, closing at 84.70 against the US dollar, compared to 84.73 in the previous session. As part of the monetary policy changes, the RBI raised the interest rate ceiling on one-year Foreign Currency Non-Resident (FCNR) deposits by 200 basis p
The Indian rupee ended the trading session stronger after the Reserve Bank of India (RBI) decided to keep the benchmark interest rates unchanged, while unveiling measures aimed at improving liquidity in the banking system. The domestic currency gained 3 paise, closing at 84.70 against the US dollar, compared to 84.73 in the previous session. As part of the monetary policy changes, the RBI raised the interest rate ceiling on one-year Foreign Currency Non-Resident (FCNR) deposits by 200 basis p
President-elect Donald Trump has appointed David Sacks, former PayPal COO and prominent podcaster, as the White House czar for artificial intelligence (AI) and cryptocurrency. This newly created role will see Sacks guide the administration's policy on these crucial sectors, which are seen as vital for America's future competitiveness. However, the specifics of how this new role will function within the government remain unclear. Trump praised Sacks for his business acumen, intelligenc
President-elect Donald Trump has appointed David Sacks, former PayPal COO and prominent podcaster, as the White House czar for artificial intelligence (AI) and cryptocurrency. This newly created role will see Sacks guide the administration's policy on these crucial sectors, which are seen as vital for America's future competitiveness. However, the specifics of how this new role will function within the government remain unclear. Trump praised Sacks for his business acumen, intelligenc
On Friday, the Reserve Bank of India (RBI) announced it would keep the repo rate unchanged at 6.5% for the 11th consecutive time. This decision comes despite the GDP growth rate for the July-September quarter falling to a 7-quarter low of 5.4%, which was below the RBI's earlier projection of 7%. The RBI paused its rate hike cycle in April last year after raising rates by 250 basis points since May 2022.
In the fifth bi-monthly monetary policy review for the current fiscal year,
On Friday, the Reserve Bank of India (RBI) announced it would keep the repo rate unchanged at 6.5% for the 11th consecutive time. This decision comes despite the GDP growth rate for the July-September quarter falling to a 7-quarter low of 5.4%, which was below the RBI's earlier projection of 7%. The RBI paused its rate hike cycle in April last year after raising rates by 250 basis points since May 2022.
In the fifth bi-monthly monetary policy review for the current fiscal year,
In October 2024, the Reserve Bank of India (RBI) made a significant move by adding 27 tonnes of gold to its reserves, bringing its total gold purchases for the year to 78 tonnes. This marks the highest level of purchases since 2009, when India acquired 200 tonnes from the International Monetary Fund (IMF). The RBI's total gold reserves now stand at 882 tonnes. In comparison, India had bought only 16 tonnes of gold in 2023.
The RBI's gold purchase comes amid global economic i
In October 2024, the Reserve Bank of India (RBI) made a significant move by adding 27 tonnes of gold to its reserves, bringing its total gold purchases for the year to 78 tonnes. This marks the highest level of purchases since 2009, when India acquired 200 tonnes from the International Monetary Fund (IMF). The RBI's total gold reserves now stand at 882 tonnes. In comparison, India had bought only 16 tonnes of gold in 2023.
The RBI's gold purchase comes amid global economic i
The Reserve Bank of India’s Monetary Policy Committee (MPC) is expected to maintain the status quo on the benchmark repo rate at 6.5% in its upcoming meeting from December 4 to 6. Despite India's GDP growth slowing to 5.4% in the July-September quarter, economists suggest that inflation concerns will likely take precedence, making a rate cut unlikely in December. Retail inflation rose to 6.2% in October, exceeding the RBI’s target range of 2-6%.
Though a repo rate cu
The Reserve Bank of India’s Monetary Policy Committee (MPC) is expected to maintain the status quo on the benchmark repo rate at 6.5% in its upcoming meeting from December 4 to 6. Despite India's GDP growth slowing to 5.4% in the July-September quarter, economists suggest that inflation concerns will likely take precedence, making a rate cut unlikely in December. Retail inflation rose to 6.2% in October, exceeding the RBI’s target range of 2-6%.
Though a repo rate cu
RBL Bank and Bajaj Finance Ltd. have mutually decided to stop issuing new co-branded credit cards following discussions that have taken place over the past month. While the change will not affect RBL Bank’s overall credit card business, it marks the end of a significant partnership that previously accounted for a large portion of RBL Bank’s card issuances. As of September 2023, Bajaj Finserv co-branded cards represented 41% of RBL Bank’s total credit card issuances.
RBL Bank and Bajaj Finance Ltd. have mutually decided to stop issuing new co-branded credit cards following discussions that have taken place over the past month. While the change will not affect RBL Bank’s overall credit card business, it marks the end of a significant partnership that previously accounted for a large portion of RBL Bank’s card issuances. As of September 2023, Bajaj Finserv co-branded cards represented 41% of RBL Bank’s total credit card issuances.
The Indian rupee opened flat at 84.24 against the US dollar on Thursday, following a slight dip of 11 paise to close at 84.45 on Wednesday. On Tuesday, it had closed at 84.34. The minor decline reflects the ongoing volatility in the foreign exchange market. The rupee had also opened weaker by 5 paise at 84.39 on Wednesday morning.
Analysts predict that the rupee's range for the day will likely stay between 84.30 and 84.50. Anil Kumar Bhansali, head of treasury and executive dire
The Indian rupee opened flat at 84.24 against the US dollar on Thursday, following a slight dip of 11 paise to close at 84.45 on Wednesday. On Tuesday, it had closed at 84.34. The minor decline reflects the ongoing volatility in the foreign exchange market. The rupee had also opened weaker by 5 paise at 84.39 on Wednesday morning.
Analysts predict that the rupee's range for the day will likely stay between 84.30 and 84.50. Anil Kumar Bhansali, head of treasury and executive dire
The Reserve Bank of India (RBI) has cancelled the registration certificates of two non-banking financial companies (NBFCs)—Ulhas Securities Pvt. and Sikar Investment Co.. The registration of Ulhas Securities, based in Gandhinagar, Gujarat, was granted in December 2003, while Sikar Investment, based in Bharatpur, Rajasthan, had been registered in March 1998.
The cancellation was carried out under Section 45-IA (6) of the Reserve Bank of India Act, 1934, which allows the RBI to
The Reserve Bank of India (RBI) has cancelled the registration certificates of two non-banking financial companies (NBFCs)—Ulhas Securities Pvt. and Sikar Investment Co.. The registration of Ulhas Securities, based in Gandhinagar, Gujarat, was granted in December 2003, while Sikar Investment, based in Bharatpur, Rajasthan, had been registered in March 1998.
The cancellation was carried out under Section 45-IA (6) of the Reserve Bank of India Act, 1934, which allows the RBI to
In just two days, equity investors faced a staggering loss of ₹13 lakh crore in market valuation as the BSE benchmark Sensex saw a sharp 2.27% drop. The benchmark index shed 1,805.2 points, with a 984.23-point decline on Wednesday, November 13, 2024, ending at 77,690.95.
Experts cited soaring retail inflation, which hit a 14-month high of 6.21% in October, persistent foreign fund outflows, and muted corporate earnings as the primary reasons behind the significant market correction
In just two days, equity investors faced a staggering loss of ₹13 lakh crore in market valuation as the BSE benchmark Sensex saw a sharp 2.27% drop. The benchmark index shed 1,805.2 points, with a 984.23-point decline on Wednesday, November 13, 2024, ending at 77,690.95.
Experts cited soaring retail inflation, which hit a 14-month high of 6.21% in October, persistent foreign fund outflows, and muted corporate earnings as the primary reasons behind the significant market correction
The Indian rupee opened at 84.39 against the US dollar on Wednesday, remaining near its all-time low of 84.4162. The Reserve Bank of India (RBI) is continuing its efforts to stabilize the currency, with analysts Amit Pabari and Anil Kumar Bhansali suggesting that the ce
The Indian rupee opened at 84.39 against the US dollar on Wednesday, remaining near its all-time low of 84.4162. The Reserve Bank of India (RBI) is continuing its efforts to stabilize the currency, with analysts Amit Pabari and Anil Kumar Bhansali suggesting that the ce
The Reserve Bank of India (RBI) has reported an increase in its gold reserves, which now stand at 854.73 metric tonnes as of September 2024, up from 822.10 metric tonnes in March 2024. According to the half-yearly report on the management of foreign exchange reserves released on Tuesday, this increase indicates a strategic shift by the central bank amid rising geopolitical tensions, persistent inflation, and a stable interest rate environment.
Out of the total gold reserves, 510.46
The Reserve Bank of India (RBI) has reported an increase in its gold reserves, which now stand at 854.73 metric tonnes as of September 2024, up from 822.10 metric tonnes in March 2024. According to the half-yearly report on the management of foreign exchange reserves released on Tuesday, this increase indicates a strategic shift by the central bank amid rising geopolitical tensions, persistent inflation, and a stable interest rate environment.
Out of the total gold reserves, 510.46
The Reserve Bank of India (RBI) has reduced its GDP growth forecast for India to 6.8% for the second quarter of fiscal 2024-25, a decrease of 20 basis points. In its October bulletin titled "State of the Economy," the RBI attributed this revision to a slackening momentum observed in some high-frequency indicators, which were partially impacted by unusual heavy rainfall in August and September.
This latest forecast is lower than the previous projection of 7% made by RBI Gov
The Reserve Bank of India (RBI) has reduced its GDP growth forecast for India to 6.8% for the second quarter of fiscal 2024-25, a decrease of 20 basis points. In its October bulletin titled "State of the Economy," the RBI attributed this revision to a slackening momentum observed in some high-frequency indicators, which were partially impacted by unusual heavy rainfall in August and September.
This latest forecast is lower than the previous projection of 7% made by RBI Gov
The Reserve Bank of India (RBI) has taken a significant step by barring four non-banking financial companies (NBFCs) from sanctioning and disbursing loans starting October 21. The companies affected include Asirvad Micro Finance, Navi Finserv, Arohan Financial Services, and DMI Finance. This action comes in light of serious supervisory concerns related to high lending rates and non-compliance with regulatory standards.
In a press release, the RBI emphasized its ongoing commitment to
The Reserve Bank of India (RBI) has taken a significant step by barring four non-banking financial companies (NBFCs) from sanctioning and disbursing loans starting October 21. The companies affected include Asirvad Micro Finance, Navi Finserv, Arohan Financial Services, and DMI Finance. This action comes in light of serious supervisory concerns related to high lending rates and non-compliance with regulatory standards.
In a press release, the RBI emphasized its ongoing commitment to
