Rupee strong by 76 paise to close at Rs 84.49 against US dollar
In the Forex market, the rupee today strengthened by 76 paise to close at 84 rupees and 49 paise against the US dollar buoyed by fresh foreign inflows into equities…
Deposit Growth Trails Credit in FY25 as Banks Face Stiff Savings Market Competition
R. Suryamurthy The landscape of personal finance in India is undergoing a transformation, with banks, mutual funds, and small savings schemes fiercely vying for the nation’s savings. A recent report…
FM Sitharaman targets one billion UPI transactions per day to broaden its reach and impact
Union Finance Minister Nirmala Sitharaman has underscored the need to achieve the target of one billion UPI transactions per day within the next two to three years. She has stressed…
DBT initiative of PM Modi has saved Rs 3.48 lakh cr by reducing leakage: Ashwini Vaishnaw
Union Minister for Electronics and Information Technology Ashwini Vaishnaw has said that Direct Benefit Trasfer- DBT initiative of Prime Minister Narendra Modi has saved 3.48 lakh crore rupees by reducing…
India’s forex, money markets have doubled in last 4 years: RBI Governor
India’s financial markets have developed into a dynamic and resilient force to fuel economic growth with an almost doubling of the foreign exchange market from $32 billion in 2020 to…
Finance Ministry Labels Reports on GST on UPI Transactions as False and Baseless
The Government today stated that claims suggesting it is considering levying GST on UPI transactions over two thousand rupees are completely false, misleading, and without any basis. In a statement,…
RBI, FIU-IND Sign MoU to Bolster Anti-Money Laundering Efforts
The Reserve Bank of India (RBI) and Financial Intelligence Unit-India (FIU-IND) today signed a Memorandum of Understanding (MoU) as part of continued coordinated efforts in effective implementation of requirements of…
Kotak Mahindra, IDFC First, PNB Penalized by RBI for Violating Regulatory Guidelines
The Reserve Bank of India (RBI) today said it has imposed penalties on Kotak Mahindra Bank, IDFC First Bank, and Punjab National Bank for certain deficiencies in regulatory compliance. The…
RBI’s Gold Loan Reforms to Raise the Bar for NBFIs; Larger Firms Poised to Adapt: Fitch
R. Suryamurthy The Reserve Bank of India (RBI) has unveiled draft regulatory enhancements for gold-backed loans extended by Non-Banking Financial Institutions (NBFIs), a move that Fitch Ratings believes will provide…
Dollar will ‘always’ be ‘currency of choice’: Trump
WEB DESK President Donald Trump has said the US dollar is “always” going to be the “currency of choice,” as investors fled what is typically considered a key haven currency…