MUMBAI: The rupee dropped 5 paise to 85.69 against the US dollar in early trade on Wednesday, the first session of 2025, as the strength of the American currency in the overseas market and persistent foreign fund outflows weighed on the local unit. Forex traders said the dollar index (DXY) and US 10-year bond yields…
NEW DELHI: Employee attrition in private sector banks has witnessed an increase to about 25 per cent and this high turnover rate poses significant operational risk, according to the latest Report on Trend and Progress of Banking in India 2023-24. Employee attrition rates are high across select private sector banks and small finance banks (SFBs),…
NEW DELHI: India’s foreign exchange reserves declined by $8.478 billion to settle at $644.391 billion for the week ending on December 20, according to the Reserve Bank of India (RBI) on Friday.This marks a continued slide after a $1.988 billion drop in the previous week, bringing reserves to a six-month low of $652.869 billion, news…
India’s foreign exchange reserves fell by nearly $2 billion to an almost six-month low of $652.87 billion as of December 13, data from the Reserve Bank of India (RBI) showed on Friday. The reserves had declined by $3.2 billion in the week of December 6, and have declined by $52 billion from the record high…
The Reserve Bank of India has decided to launch podcasts to improve communication and effectively share information of public interest. This podcast continues the many initiatives the apex bank took over the past years to expand its communication toolkit to enhance transparency and facilitate better connections with people. Shaktikanta Das, the RBI governor on Friday…
NEW DELHI: India’s forex has started to rally once again after a consecutive plunge for eight months, hitting a multi month low.Data from the Reserve Bank of India (RBI) earlier this week revealed that India’s foreign exchange reserves rose by $1.510 billion to $658.091 billion for the week ending November 29. However, since hitting an…
RBI governor Shaktikanta Das MUMBAI: Reserve Bank of India (RBI) on Friday kept the policy rate unchanged for the 11th consecutive time at 6.5%, cut the economic growth forecast to 6.6% for 2024-25 from the earlier 7.2%, and reduced the cash reserve ratio (CRR) by 50 basis to 4%, which is expected to release nearly…
India’s forex reserves rise to $658.09 billion NEW DELHI: India’s foreign exchange reserves increased by $1.51 billion to $658.09 billion in the week ending November 29, the Reserve Bank of India (RBI) reported on Friday. This marks the first rise in nine weeks, recovering from a five-month low.The reserves had previously declined by a cumulative…
Last Updated:December 06, 2024, 13:15 IST Bank of Baroda, Canara Bank, Axis Bank, SBI were the top gainers gaining by up to 1.92 per cent. The CRR cut is expected to free up an additional Rs 1.16 lakh crore in the banking system, providing much-needed relief to lenders. As the RBI cut the cash reserve…
ATMs are equipped with a mechanism that automatically retrieves unattended currency notes. (AI image) ATM cash retraction new rules: The Reserve Bank of India has now partly reversed its January 2012 directive that had mandated disabling of cash retraction in ATMs. The original decision was taken to prevent fraudulent activities at ATMs.ATMs are equipped with…
