After a small recovery last week, the Indian equity market is brimming with anticipation as it looks to sustain its upward momentum. The Nifty 50 broke a three-week losing streak, closing nearly 2% higher despite global uncertainties, including the looming threat of trade wars. The rebound was fuelled by positive macroeconomic indicators, a drop in…
India’s foreign exchange reserves fell by $1.781 billion in the week ending February 28, bringing the total to $638.698 billion, latest data from the Reserve Bank of India (RBI) revealed.The country’s forex reserves have been on a volatile trajectory, touching an 11-month low after nearly four continuous months of declines. While some weeks have seen…
MUMBAI: India’s forex reserves dropped by $1.8 billion to $638.7 billion in the week ended Feb 28, Reserve Bank of India said on Friday. The overall forex kitty had jumped by $4.8 billion to $640.5 billion in the previous reporting week. At the end of Sept 2024, the forex reserves touched an all-time high of…
The Indian stock market closed higher on Thursday, driven by strong domestic investor activity and positive global cues. Financial stocks gained after the RBI’s $21 billion liquidity infusion, while energy stocks benefited from lower crude prices. The BSE Sensex rose by 609.86 points (0.83%) to 74,340.09, and the Nifty 50 added 207.40 points (0.93%) to…
RBI’s 2003 regulation granted ‘non-resident Indian’ (NRI) status to overseas students. (AI image) The Reserve Bank of India (RBI) is reportedly examining the utilisation of a two-decade-old foreign exchange regulation that was initially established to assist Indian students studying abroad. Students have been quietly facilitating international money transfers for years, a practice that is now…
NEW DELHI: Bank credit and deposit growth slowed in the October-December quarter of 2024, according to data released by the Reserve Bank of India. In December 2024, the annual bank credit growth fell to 11.8 per cent, against the 12.6 per cent recorded in September 2024. Similarly, aggregate deposit growth eased to 11 per cent…
NEW DELHI: Govt has extended the tenure of chief economic adviser V Anantha Nageswaran up to March 2027, ruling him out of the race for Reserve Bank of India deputy governor and opening the doors for outside economists to take up the assignment after Michael Patra’s departure from Mint Road.Nageswaran, who joined the finance ministry…
NEW DELHI: Direct overseas investment into India dipped marginally to $18.5 billion during April-Dec 2024, compared with $18.8 billion during the first nine months of the previous fiscal year, as overseas companies significantly stepped up repatriation from the country.Latest data released by the Reserve Bank of India (RBI) showed that during April-Dec, repatriations or disinvestment…
NEW DELHI: India’s foreign exchange reserve recorded a major boost, rising $7.654 billion to reach $638.261 billion in the week ending February 7, Reserve Bank of India (RBI) reported on Friday. This rise marks the third consecutive weekly increase, following a $1.05 billion rise in the previous week, when reserves stood at $630.607 billion on…
Are banks open on March 31, 2025? March 2025 bank holidays: RBI has directed all agency banks handling government transactions to remain operational on March 31, 2025 (Monday), despite it being a holiday in several states. This measure ensures accurate financial reporting for FY 2024-25 by recording all transactions within the same period.According to an…
