News

CM Siddaramaiah urges FM Nirmala Sitharaman to rectify reduced loan amount by NABARD to Karnataka  Karnataka Chief Minister Siddaramaiah met Union Minister for Finance, Nirmala Sitharaman on Thursday at her office in New Delhi and submitted a memorandum seeking to correct the lower allocation of short-term loans to the state by NABARD.  Chief Minister Siddaramaiah stated that Karnataka is making a lower allocation of ‘Short Term Agricultural Credit Limit (ST-SAO)’ at concessional rate of interest by the National Bank For Agriculture and Rural Development (NABARD) ...
CM Siddaramaiah urges FM Nirmala Sitharaman to rectify reduced loan amount by NABARD to Karnataka
CM Siddaramaiah urges FM Nirmala Sitharaman to rectify reduced loan amount by NABARD to Karnataka
Source: IANS
2024-11-21 04:19:47 pm
India`s export outlook brighter as manufactured goods gain share: RBI The outlook for India’s exports is brightening as underneath the subdued growth profile of the past few months, the country has been gaining a share in global trade of key manufacturing items, according to the RBI bulletin for November.  “In fact, India currently holds 13 per cent or a sixth of the global market share in petroleum products, attesting to rising refining capabilities and ability to meet international standards,” the report states. It is the largest ...
India`s export outlook brighter as manufactured goods gain share: RBI
India`s export outlook brighter as manufactured goods gain share: RBI
Source: IANS
2024-11-21 02:31:08 pm
Private consumption driving growth in Q3 with rural India taking lead: RBI  The slack in speed observed in the Indian economy during the second quarter of 2024-25 is behind us as private consumption is back to being the driver of domestic demand with festival spending lighting up real activity in Q3, according to the RBI’s monthly bulletin for November.   The report points out that rural India is emerging as a gold mine for e-commerce companies in this festival season; this is expected to gather further momentum with the sharp increase in kharif o...
Private consumption driving growth in Q3 with rural India taking lead: RBI
Private consumption driving growth in Q3 with rural India taking lead: RBI
Source: IANS
2024-11-21 02:23:43 pm
Private consumption back driven by festive spending: RBI article The Reserve Bank of India’s (RBI) article on 'State of the Economy' published in the November Bulletin has said that private consumption is back driven by festive spending, and the medium-term economic outlook remains bullish as the innate strength of the macro-fundamentals reasserts itself. It said global economic activity remained resilient during Q4:2024 amidst fragile confidence and rising protectionism. It said ‘in India, the slack in speed observed in the second quar...
Private consumption back driven by festive spending: RBI article
Private consumption back driven by festive spending: RBI article
Source: Accord Fintech
2024-11-21 12:19:43 pm
Rupee weakens against US dollar on Thursday Indian rupee weakened against the US dollar on Thursday amid volatile crude oil prices, sluggish domestic equity markets and persistent foreign fund outflows as investors trimmed hopes of aggressive rate cuts by the US Federal Reserve. Foreign Institutional Investors were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 3,411.73 crore, exchange data showed. However, some falls were limited by a weaker American currency and likely intervention by the Reserve Ban...
Rupee weakens against US dollar on Thursday
Rupee weakens against US dollar on Thursday
Source: Accord Fintech
2024-11-21 11:39:22 am
India`s real GDP growth for September quarter likely to decline to 6.5%: ICRA Domestic rating agency Icra has said India's real GDP growth for the September quarter is likely to decline to 6.5 per cent due to heavy rains and weaker corporate performance. However, the agency maintained its FY25 growth estimate at 7 per cent on expectations of a pick up in economic activity in the second half of the fiscal. The estimates and commentary on the outlook come at a time when there are concerns around the growth slowdown on a slew of factors like slowing down urban demand....
India`s real GDP growth for September quarter likely to decline to 6.5%: ICRA
India`s real GDP growth for September quarter likely to decline to 6.5%: ICRA
Source: Accord Fintech
2024-11-21 10:25:02 am
Credit, deposit growth now in line with each other in India After deposit growth outpaced credit offtake for the first time in the last 30 months some days back, the credit and deposits are now growing in line with each other, according to a report on Tuesday.  Credit offtake increased by 9.3 per cent to reach Rs 174.4 lakh crore (as of November 1) compared to December. The growth slowdown compared to last year can be attributed to a higher base effect due to the merger and RBI measures such as higher risk weights and the proposed LCR norms...
Credit, deposit growth now in line with each other in India
Credit, deposit growth now in line with each other in India
Source: IANS
2024-11-19 04:08:47 pm
Proactively monitor portfolios to address potential risks, challenges: RBI Governor to bank boards RBI Governor Shaktikanta Das has asked banks to proactively monitor their portfolios, identify areas of over-concentration, and take pre-emptive measures to address potential risks and challenges. He also asked bank boards to strengthen the internal governance framework to curb unethical practices, such as mis-selling of products or opening of accounts without proper KYC verification. He also said bank boards need to continuously assess external factors like regulatory changes, shifting marke...
Proactively monitor portfolios to address potential risks, challenges: RBI Governor to bank boards
Proactively monitor portfolios to address potential risks, challenges: RBI Governor to bank boards
Source: Accord Fintech
2024-11-19 12:57:24 pm
India central bank chief`s term likely to be extended further, sources say The Indian government is likely to extend the term of central bank governor Shaktikanta Das for a second time, three sources with direct knowledge of the matter told Reuters, an unprecedented move that would make him the longest serving chief since the 1960s. Das was one of the most trusted bureaucrats in Prime Minister Narendra Modi's administration before he was appointed to lead the Reserve Bank of India in December 2018, at a time when the relationship between the government and th...
India central bank chief`s term likely to be extended further, sources say
India central bank chief`s term likely to be extended further, sources say
Source: Reuters
2024-11-19 09:22:54 am
Rupee eyes breathing room as dollar rally stalls, importers may cap gains The Indian rupee is likely to open steady on Tuesday and may look to make mild gains through the session as the dollar's post-U.S. election surge shows signs of cooling after touching a one-year high last week. The 1-month non-deliverable forward indicated that the rupee will open at 84.38-84.39 to the U.S. dollar, little changed from its close of 84.3850 in the previous session. The local currency had declined to its record low of 84.4125 last week. The dollar index was at 106.2...
Rupee eyes breathing room as dollar rally stalls, importers may cap gains
Rupee eyes breathing room as dollar rally stalls, importers may cap gains
Source: Reuters
2024-11-19 09:06:17 am
India`s economic growth needs more affordable interest rates, minister says  India's economic growth requires "far more affordable" bank interest rates, the finance minister said on Monday, adding New Delhi was committed to measures to ensure the economy remained on course. "At a time when we want industries to ramp up and build capacities, bank interest rates will have to be far more affordable," the minister, Nirmala Sitharaman, said at an event in Mumbai. Last week, the nation's trade minister said the Reserve Bank of India (...
India`s economic growth needs more affordable interest rates, minister says
India`s economic growth needs more affordable interest rates, minister says
Source: Reuters
2024-11-18 06:14:53 pm
Exclusive-India cenbank plans 2025 launch of cloud services, countering dominance of global firms  India's central bank will launch a pilot programme in 2025 offering local cloud data storage to financial firms at affordable prices, according to two sources aware of the matter, who declined to be identified as conversations are confidential. The Reserve Bank of India's planned cloud platform will use local IT firms, pitting it against the likes of Amazon Web Services, Microsoft Azure, Google Cloud and IBM Cloud, in a first-of-its-kind initiative from a major global central...
Exclusive-India cenbank plans 2025 launch of cloud services, countering dominance of global firms
Exclusive-India cenbank plans 2025 launch of cloud services, countering dominance of global firms
Source: Reuters
2024-11-18 12:14:16 pm
Rupee strengthens against US dollar on Monday Indian rupee strengthened against the US dollar on Monday due to a steady American currency overseas ahead of upcoming comments from US Federal Reserve officials this week for more cues on the interest rate path. Moreover, lower level of crude oil prices in the international market also supported rupee sentiments. Besides, India's inflation surge and sustained foreign fund outflows have limited further gains in rupee. Foreign Institutional Investors were net sellers in the capital markets...
Rupee strengthens against US dollar on Monday
Rupee strengthens against US dollar on Monday
Source: Accord Fintech
2024-11-18 11:39:36 am
Government needs to increase healthcare expenditure in India: Former RBI governor Former Reserve Bank of India (RBI) governor C Rangarajan has said that India's healthcare expenditure is currently less than 2 per cent of its Gross Domestic Product (GDP) and the governments must urgently increase it. He stressed on the importance of ensuring efficient fund utilisation before increasing healthcare spending. Rangarajan said ‘in India, there is a consistent discussion on raising healthcare expenditure to at least 2.8 per cent of the GDP. However, current data indi...
Government needs to increase healthcare expenditure in India: Former RBI governor
Government needs to increase healthcare expenditure in India: Former RBI governor
Source: Accord Fintech
2024-11-18 11:28:43 am
Rupee nearly flat; cenbank intervention supports as equities stay tepid The Indian rupee was nearly unchanged on Monday as likely intervention by the Reserve Bank of India (RBI) helped offset pressure driven by weakness in local equities, which have borne the brunt of sustained foreign portfolio outflows this quarter. The rupee was at 84.3875 against the U.S. dollar as of 10:00 a.m. IST, barely changed from its close at 84.3950 on Thursday. Indian financial markets were shut on Friday for a local holiday. State-run banks were spotted offering dollars near 8...
Rupee nearly flat; cenbank intervention supports as equities stay tepid
Rupee nearly flat; cenbank intervention supports as equities stay tepid
Source: Reuters
2024-11-18 09:02:13 am
Indian economy capable of handling global shocks: RBI Governor Reserve Bank of India (RBI) Governor Shaktikanta Das has said that the Indian economy is strong enough to handle any adverse fallout from global events.  "Today, the growth of the Indian economy presents a picture of stability and strength," Das said while addressing an event at the launch of the Kochi International Foundation here. The country's external sector is also strong and the current account deficit (CAD) has remained within manageable limits as it presently ...
Indian economy capable of handling global shocks: RBI Governor
Indian economy capable of handling global shocks: RBI Governor
Source: IANS
2024-11-17 04:44:36 pm
FIIs to reduce selling in India towards year-end, fresh allocations to occur After their heavy selling so far, it is expected that the foreign institutional investors (FIIs), will reduce their selling near the end of the calendar year and fresh allocations or significant investments are likely to occur once there is greater clarity regarding the US' incoming Donald Trump administration's policies, market experts said on Saturday.   Several factors have led to the selling activity by FIIs in the Indian stock market -- weak earnings, high valuations comp...
FIIs to reduce selling in India towards year-end, fresh allocations to occur
FIIs to reduce selling in India towards year-end, fresh allocations to occur
Source: IANS
2024-11-16 05:21:38 pm
India`s forex reserves decline for sixth week to its lowest in nearly 3 months India's foreign exchange reserves dropped for a sixth consecutive week to a near 3-month low of $675.65 billion as of Nov. 8, data from the Reserve Bank of India (RBI) showed on Friday. The reserves fell by $6.5 billion in the reporting week and are down $29.2 billion from the record-high of $704.89 billion hit in late September. Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciation of for...
India`s forex reserves decline for sixth week to its lowest in nearly 3 months
India`s forex reserves decline for sixth week to its lowest in nearly 3 months
Source: Reuters
2024-11-16 09:10:48 am
India`s economy in sweet spot with strong growth, inflation likely to ease: Moody`s India’s economy is in a "sweet spot" with strong growth and inflation expected to ease in the coming months, according to Moody’s Global Macro Outlook report released on Friday.  The global ratings agency has forecast 7.2 per cent growth for calendar year 2024, followed by 6.6 per cent in 2025, and 6.5 per cent in 2026.  It also expects the Indian economy to maintain its steady momentum in the July-September quarter after clocking a 6.7 per cent growth ra...
India`s economy in sweet spot with strong growth, inflation likely to ease: Moody`s
India`s economy in sweet spot with strong growth, inflation likely to ease: Moody`s
Source: IANS
2024-11-15 03:09:15 pm
India`s GDP to grow 6.5-7 pc through FY27 over infra, consumption push  India’s GDP will expand 6.5-7 per cent annually in the next three fiscal years (2025-2027), and the country’s good economic growth prospects will continue to support banks' asset quality, according to a new report.  India's infrastructure spending and private consumption will support robust economic growth, said S&P Global Ratings in its latest global bank outlook report. “Structural improvements and good economic prospects will support the r...
India`s GDP to grow 6.5-7 pc through FY27 over infra, consumption push
India`s GDP to grow 6.5-7 pc through FY27 over infra, consumption push
Source: IANS
2024-11-15 10:37:30 am
Australia-based Findi hits over 2-decade high on buying Tata Communications unit Shares of Australia-based Findi jumped to a more than two-decade high on Friday, after the fintech services provider said it would acquire Tata Communications' payment solutions unit for A$75.7 million ($48.81 million). The stock gained as much as 12.2% to A$7.65, its highest level since Sept. 13, 2002, while the benchmark ASX 200 index was up 0.53%, as of 0050 GMT. It has risen 14% in value so far this week and is poised for its best week since mid-October. The acquisition of Ta...
Australia-based Findi hits over 2-decade high on buying Tata Communications unit
Australia-based Findi hits over 2-decade high on buying Tata Communications unit
Source: Reuters
2024-11-15 09:18:22 am
India`s WPI inflation edges up to 2.36 pc in Oct India’s inflation rate, based on the Wholesale Price Index (WPI), rose to 2.36% in October this year, compared to the same month of the previous year on the back of higher food prices, figures released by the Commerce and Industry Ministry on Thursday showed.  Inflation in October has risen from 1.84 per cent in September, primarily due to an increase in prices of food articles which jumped by 13.57 per cent during the month as vegetables such as potatoes and onions turned costl...
India`s WPI inflation edges up to 2.36 pc in Oct
India`s WPI inflation edges up to 2.36 pc in Oct
Source: IANS
2024-11-14 04:37:51 pm
KFin Technologies soars on incorporating subsidiary company in Thailand KFin Technologies is currently trading at Rs. 980.00, up by 14.60 points or 1.51% from its previous closing of Rs. 965.40 on the BSE. The scrip opened at Rs. 965.00 and has touched a high and low of Rs. 982.95 and Rs. 963.55 respectively. So far 26703 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1188.45 on 27-Aug-2024 and a 52 week low of Rs. 456.10 on 21-Dec-2023. Last one week high and low of the scrip sto...
KFin Technologies soars on incorporating subsidiary company in Thailand
KFin Technologies soars on incorporating subsidiary company in Thailand
Source: Accord Fintech
2024-11-14 03:49:21 pm
India trade minister says central bank should cut rates, look through food prices India's central bank should cut interest rates to boost economic growth and look through food price while deciding on monetary policy, the trade minister said, the first time a government minister has backed calls to re-examine the nation's inflation targeting framework. "I certainly believe they (central bank) should cut interest rates. Growth needs a further impetus," Piyush Goyal told news channel CNBC TV18 at an event in Mumbai on Thursday, adding it's an "ab...
India trade minister says central bank should cut rates, look through food prices
India trade minister says central bank should cut rates, look through food prices
Source: Reuters
2024-11-14 01:50:04 pm
India at forefront of digital revolution: RBI Deputy Governor Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra has said that India is at the forefront of the digital revolution and financial technology is speeding up digital payments. Vibrant e-markets are springing up and expanding their reach. He said it is estimated that the digital economy currently accounts for a tenth of India's GDP and added that going by growth rates observed over the past decade, it is poised to constitute a fifth of GDP by 2026.  RBI Deputy Gover...
India at forefront of digital revolution: RBI Deputy Governor
India at forefront of digital revolution: RBI Deputy Governor
Source: IANS
2024-11-14 11:11:10 am
Rupee dips; cenbank heightens scrutiny on FX trades, bankers say  The Indian rupee was slightly weaker on Thursday, tracking a decline in Asian peers, as the dollar index climbed to its highest level in a year amid ongoing momentum following Donald Trump's victory in the U.S. elections. The rupee was at 84.4025 per U.S. dollar as of 11:00 a.m. IST, down from its close at 84.3775 in the previous session. Asian currencies were weaker by 0.1% to 0.9% while the dollar index was up 0.2% at 106.7, hovering close to its highest level in a year. ...
Rupee dips; cenbank heightens scrutiny on FX trades, bankers say
Rupee dips; cenbank heightens scrutiny on FX trades, bankers say
Source: Reuters
2024-11-14 09:07:52 am
Digital transfers of funds for public services up 56 pc in 2024: RBI Deputy Governor The average number of daily e-transactions to access public services in India has increased by 56 per cent in 2024 compared to the previous year while there has been a transfer pf Rs 6.9 lakh crore through the digitally-powered Direct Benefit Transfers (DBT) under 314 schemes, benefiting 176 crore beneficiaries in the financial year 2023-24, RBI deputy Governor Michael Patra said on Wednesday.  Addressing the conference on ‘Digital Technology, Productivity and Economic Growth in...
Digital transfers of funds for public services up 56 pc in 2024: RBI Deputy Governor
Digital transfers of funds for public services up 56 pc in 2024: RBI Deputy Governor
Source: IANS
2024-11-13 05:24:04 pm
Retail inflation breaches RBI’s tolerance level, soars to 14-month high of 6.21% in October Breaching the Reserve Bank of India’s (RBI) upper tolerance level, India’s retail inflation based on Consumer Price Index (CPI) rose to a 14-month high of 6.21 percent in October 2024, as food inflation galloped on the back of rising vegetable prices. Inflation was 5.49 per cent in September and 4.87 percent in the year-ago month. Retail inflation trended below the RBI’s upper tolerance band of 6 percent since September last year. It was at 6.83 percent in August 2023. The R...
Retail inflation breaches RBI’s tolerance level, soars to 14-month high of 6.21% in October
Retail inflation breaches RBI’s tolerance level, soars to 14-month high of 6.21% in October
Source: Accord Fintech
2024-11-13 11:59:40 am
Rupee weakens against US dollar on Wednesday Indian rupee weakened against the US dollar on Wednesday, tracking weak domestic equities after the latest inflation report that showed prices climbing to a 14-month high of 6.21% in October and breached the Reserve Bank of India's upper tolerance limit. Moreover, persistent foreign fund outflows and strengthening dollar Index have also adding pressure on rupee. Foreign Institutional Investors were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 3,024.31 c...
Rupee weakens against US dollar on Wednesday
Rupee weakens against US dollar on Wednesday
Source: Accord Fintech
2024-11-13 11:53:28 am
India`s retail inflation surges to 14-month high in October as vegetable prices soar India's retail inflation surged to a 14-month high in October, driven by a jump in vegetable prices and dashing hopes of an interest rate cut by the central bank next month. The annual retail inflation of 6.21% in October breached the central bank's tolerance band for the first time in more than a year, and was higher than the estimate of 5.81% in a Reuters poll, government data released on Tuesday showed. The Reserve Bank of India (RBI) is mandated to keep inflation in a range ...
India`s retail inflation surges to 14-month high in October as vegetable prices soar
India`s retail inflation surges to 14-month high in October as vegetable prices soar
Source: Reuters
2024-11-13 10:12:38 am
Mild relief for rupee on slight recovery in Asia before US inflation data The Indian rupee is likely to inch up at the open on Wednesday on the back of a mild uptick in its Asian peers before U.S. inflation data that will hold cues on what the Federal Reserve will do at its next meeting. The 1-month non-deliverable forward indicated that the rupee will open at 84.38-84.3850 to the U.S. dollar, compared with 84.3925 in the previous session. The currency dipped to an all-time low of 84.4125 on Tuesday. Donald Trump's victory in the U.S. election has spur...
Mild relief for rupee on slight recovery in Asia before US inflation data
Mild relief for rupee on slight recovery in Asia before US inflation data
Source: Reuters
2024-11-13 08:53:33 am
India at take-off stage of development with young population, robust infra growth: Mark Mobius India is now at the take-off stage of development where the young demographic with higher productivity, digitisation of the economy, and a robust infrastructure growth will help the country become a major global economy in the years to come, Mark Mobius, of Mobius EM Opportunities Fund, said on Tuesday.  India remains the world’s fastest-growing economy with investment and private consumption driving growth. The IMF retained India’s gross domestic product (GDP) growth fore...
India at take-off stage of development with young population, robust infra growth: Mark Mobius
India at take-off stage of development with young population, robust infra growth: Mark Mobius
Source: IANS
2024-11-12 04:10:13 pm
RBI eases rules for FPIs to reclassify investments as FDI With an aim to further enhance the ease of doing business in India, the Reserve Bank of India (RBI) has relaxed norms by finalizing an operational framework for reclassification of Foreign Portfolio Investment made by foreign portfolio investors (FPIs) to Foreign Direct Investment (FDI) under Foreign Exchange Management (Non-debt Instruments) Rules, 2019, when they exceed the 10% ownership limit in an Indian company.  Previously, foreign portfolio investors had to either divest their ...
RBI eases rules for FPIs to reclassify investments as FDI
RBI eases rules for FPIs to reclassify investments as FDI
Source: Accord Fintech
2024-11-12 02:35:21 pm
Indian cenbank likely selling dollars to support rupee amid Asian currencies' slide The Indian central bank was likely selling dollars to support the rupee after the local currency hit its all-time low on Tuesday, pressured by a Chinese yuan-led decline in Asian currencies, four traders told Reuters. The rupee weakened to a low of 84.40 per dollar in early trading, eclipsing its previous record low of 84.3925 hit in the previous session. The currency was last flat at 84.3925. State-run banks were spotted offering dollars near 84.40 levels, most likely on behalf of the ...
Indian cenbank likely selling dollars to support rupee amid Asian currencies' slide
Indian cenbank likely selling dollars to support rupee amid Asian currencies' slide
Source: Reuters
2024-11-12 02:09:42 pm
DBS Bank nominates Rajat Verma to be next India CEO, sources say -DBS's India unit has nominated its head of institutional banking, Rajat Verma, to be the bank's new chief executive officer, two people familiar with the matter said. He is slated to replace Surojit Shome, who plans to retire after leading DBS Bank India since 2015, the sources said, adding that his nomination has been submitted to the Reserve Bank of India. India's central bank must approve all appointments of bank CEOs. The sources declined to be identified as the disc...
DBS Bank nominates Rajat Verma to be next India CEO, sources say
DBS Bank nominates Rajat Verma to be next India CEO, sources say
Source: Reuters
2024-11-12 02:01:35 pm
Rupee weakens against US dollar on Tuesday Indian rupee weakened against the US dollar on Tuesday amid strength of the American currency at overseas market after markets bet that inflationary policies under Donald Trump will keep interest rates high in the long term, while investors are awaiting key US inflation reading later in the week for directional cues. Moreover, persistent foreign fund outflows also weighed on domestic currency. Foreign Institutional Investors were net sellers in the capital markets on Monday, as they offloaded...
Rupee weakens against US dollar on Tuesday
Rupee weakens against US dollar on Tuesday
Source: Accord Fintech
2024-11-12 12:04:48 pm
Comment on framework for reclassification of FPI to FDI by Kumudini Bhalerao, Partner, MMJC and Associates - a corporate compliance firm Below the Quote on Comment on framework for reclassification of FPI to FDI by Kumudini Bhalerao, Partner, MMJC and Associates - a corporate compliance firm   The framework issued by the RBI and SEBI for reclassification of Foreign Portfolio Investors (FPIs) to Foreign Direct Investment(FDI) underscores the importance of adhering to prescribed limits. This framework not only ensures that FPIs remain compliant with the FDI framework but also reinforces the necessity for ...
Comment on framework for reclassification of FPI to FDI by Kumudini Bhalerao, Partner, MMJC and Associates - a corporate compliance firm
Comment on framework for reclassification of FPI to FDI by Kumudini Bhalerao, Partner, MMJC and Associates - a corporate compliance firm
Source: PR Agency
2024-11-12 11:49:00 am
All-time low beckons for rupee on slide in yuan, rally in dollar index  The Indian rupee is likely to open at a lifetime low on Tuesday, weighed by the rally in the dollar index and the slump in the Chinese yuan in the wake of Donald Trump's victory in the U.S. Presidential election. The 1-month non-deliverable forward indicated that the rupee will open at 84.40-84.42 to the U.S. dollar, inching past the all-time low of 84.3925 hit on Monday. The rupee has been making all-time lows after Trump's U.S. election victory. The rupee would likely...
All-time low beckons for rupee on slide in yuan, rally in dollar index
All-time low beckons for rupee on slide in yuan, rally in dollar index
Source: IANS
2024-11-12 09:31:02 am
India inflation to rise further to 5.81% on rising food costs Consumer price inflation in India climbed to a 14-month high of 5.81% in October primarily due to a spike in vegetable and edible oil prices, a Reuters poll of economists predicted, a shade below the central bank's tolerance threshold of 6.0%. Food prices, which make up nearly half of the inflation basket, likely increased at a faster pace last month. Tomatoes, a key ingredient in every Indian kitchen, are expected to have surged by double digits in price as uneven rains disrupted prod...
India inflation to rise further to 5.81% on rising food costs
India inflation to rise further to 5.81% on rising food costs
Source: Reuters
2024-11-11 05:28:44 pm
In-Solutions Global fully authorised to issue Prepaid Payment Instrument under RBI Act  In-Solutions Global Ltd (ISG), a leading force in the payments industry, has been granted authorisation by the RBI to establish a payment system for the issuance and operation of Prepaid Payment Instruments (PPI).   This approval, under the Payment and Settlement Systems Act, represents a major milestone in ISG’s mission to drive innovation and deliver cutting-edge digital payment solutions. With this authorisation, ISG is poised to offer PPIs that cater to a wide array...
In-Solutions Global fully authorised to issue Prepaid Payment Instrument under RBI Act
In-Solutions Global fully authorised to issue Prepaid Payment Instrument under RBI Act
Source: IANS
2024-11-11 12:45:40 pm
India inflation to rise further to 5.81% on rising food costs Consumer price inflation in India climbed to a 14-month high of 5.81% in October primarily due to a spike in vegetable and edible oil prices, a Reuters poll of economists predicted, a shade below the central bank's tolerance threshold of 6.0%. Food prices, which make up nearly half of the inflation basket, likely increased at a faster pace last month. Tomatoes, a key ingredient in every Indian kitchen, are expected to have surged by double digits in price as uneven rains disrupted prod...
India inflation to rise further to 5.81% on rising food costs
India inflation to rise further to 5.81% on rising food costs
Source: Reuters
2024-11-11 09:08:02 am
Rupee slips to record low as Asia FX declines; cenbank likely steps in The Indian rupee weakened to its lowest level on record on Monday, as worries about Donald Trump's victory in the U.S. election kept Asian currencies under pressure while sustained outflows from Indian stocks weighed on the local currency. Likely intervention by the Reserve Bank of India (RBI), though, helped the currency stave off a sharper decline, traders said. The rupee dipped to a low of 84.3875 in early trading, eclipsing its previous all-time low of 84.38 hit on Friday. The c...
Rupee slips to record low as Asia FX declines; cenbank likely steps in
Rupee slips to record low as Asia FX declines; cenbank likely steps in
Source: Reuters
2024-11-11 08:48:16 am
India`s financial conditions in comfort zone despite FPI outflows: Crisil Domestic financial conditions in India are in the comfort zone despite foreign portfolio investor (FPI) outflows, according to a Crisil report on Friday.  After record-high FPI inflows in September, October logged the highest post-pandemic outflows. “Yet, this did not significantly drag India’s financial conditions,” showed Crisil’s Financial Conditions Index (FCI). The FCI -- which is a combination of parameters from India’s major market segments a...
India`s financial conditions in comfort zone despite FPI outflows: Crisil
India`s financial conditions in comfort zone despite FPI outflows: Crisil
Source: IANS
2024-11-09 09:09:55 am
India`s forex kitty at $684.8 billion, gold reserves rise by $1.2 bn India's foreign exchange reserves fell by $2.6 billion to $682.13 billion as of November 1, data released by the Reserve Bank of India (RBI) showed on Friday.  However, gold reserves, which form part of the foreign exchange kitty, increased by $1.2 billion to $69.8 billion during the week, according to the central bank. There has been a surge in gold buying amid geo-political tensions. According to industry experts, gold is now acting as a hedge against US economic sanctions to...
India`s forex kitty at $684.8 billion, gold reserves rise by $1.2 bn
India`s forex kitty at $684.8 billion, gold reserves rise by $1.2 bn
Source: IANS
2024-11-09 08:40:57 am
India inflation to rise further to 5.81% on rising food costs  Consumer price inflation in India climbed to a 14-month high of 5.81% in October primarily due to a spike in vegetable and edible oil prices, a Reuters poll of economists predicted, a shade below the central bank's tolerance threshold of 6.0%. Food prices, which make up nearly half of the inflation basket, likely increased at a faster pace last month. Tomatoes, a key ingredient in every Indian kitchen, are expected to have surged by double digits in price as uneven rains disrupte...
India inflation to rise further to 5.81% on rising food costs
India inflation to rise further to 5.81% on rising food costs
Source: Reuters
2024-11-08 06:06:09 pm
Quote on US Fed Rate cut by Vinit Bolinjkar - Head of Research at Ventura Securities Below the Quote on US Fed Rate cut by Vinit Bolinjkar- Head of Research at Ventura Securities   “The 25 bps Fed rate cut was along expected lines, however cautioning that the future rate cuts would be more data driven. While traders are anticipating a 25 bps further cuts, Fed Chief Jerome Powell had said earlier said that the neutral rate would be relatively higher. After having rallied substantially over the past few days the Asian markets are offering negative cues as we ar...
Quote on US Fed Rate cut by Vinit Bolinjkar - Head of Research at Ventura Securities
Quote on US Fed Rate cut by Vinit Bolinjkar - Head of Research at Ventura Securities
Source: Ventura Securities
2024-11-08 11:20:25 am
Quote on US Fed Rate cut by Rakesh Pujara, smallcase Manager and Founder at Compounding Wealth Advisors LLP Below the Quote on US Fed Rate cut by Rakesh Pujara, smallcase Manager and Founder at Compounding Wealth Advisors LLP   “The US Fed has cut rates for two straight meetings as the inflation print has been comfortable. The Fed has acted as per the incoming data, and guided the market that the future actions and December meeting outcome will depend on incoming data, labor market. Back home, the RBI will be meeting next month to unveil their monetary policy meeting. While the ...
Quote on US Fed Rate cut by Rakesh Pujara, smallcase Manager and Founder at Compounding Wealth Advisors LLP
Quote on US Fed Rate cut by Rakesh Pujara, smallcase Manager and Founder at Compounding Wealth Advisors LLP
Source: PR Agency
2024-11-08 11:00:29 am
What the RBI Might Do Following the U.S. Federal Reserve`s Rate Cut The U.S. Federal Reserve’s decision to reduce interest rates has set the stage for other central banks worldwide to reassess their monetary policies. For India, the Reserve Bank of India (RBI) faces a unique set of challenges and opportunities in light of this development. While a Fed rate cut often opens the door for other central banks to make similar moves, the RBI’s decision will ultimately hinge on domestic economic conditions, inflation, growth objectives, and concerns over ...
What the RBI Might Do Following the U.S. Federal Reserve`s Rate Cut
What the RBI Might Do Following the U.S. Federal Reserve`s Rate Cut
Source: IGI Editorial
2024-11-08 10:11:26 am