India's political landscape is ablaze with activity! From the ongoing debates surrounding the new farm bills and their impact on rural India, to the upcoming state elections shaping the national narrative, the stakes couldn't be higher. Key political figures are maneuvering strategically, with alliances shifting and power dynamics constantly in flux. The opposition's challenge to the ruling party is intensifying, sparking vigorous debates on crucial policy matters including economic reforms and social justice initiatives. Parliamentary proceedings are filled with heated exchanges, reflecting the deep divisions within the nation. This evolving political climate directly impacts the lives of every Indian citizen, influencing everything from economic opportunities to social welfare programs. Stay informed about the latest developments in Indian politics, from crucial legislative decisions to grassroots movements, by exploring Abtak.com for in-depth analysis and breaking news updates. Understanding the intricacies of our political system is crucial; stay engaged, stay informed, and stay ahead.
Gandhinagar (Gujarat) [India], March 30 (ANI): Banking assets at GIFT City's International Financial Services Centre (IFSC) have crossed USD 106.7 billion as of February 2026, marking a more than seven-fold increase from USD 14 billion in September 2020, underscoring the rapid scale-up of India's offshore banking ecosystem, according to a statement released by GIFT city. The growth has been supported by a robust and expanding banking base, with 37 banks operating in GIFT IFSC, including 20 foreign banks and 17 domestic banks, establishing International Banking Units (IBUs) to service cross-border financial flows. Leading global banks such as DBS Bank, Credit Agricole, Deutsche Bank, Citi, HSBC, JP Morgan, MUFG, Mizuho Bank, Societe Generale and Standard Chartered have established a presence at GIFT IFSC, alongside key Indian banks. The participation of these institutions reflects growing global confidence in India's IFSC framework and its ability to support international banking operations. In 2025, several leading global and Indian banks, including Qatar National Bank, First Abu Dhabi Bank, Mashreq Bank, Credit Agricole, Natixis, CTBC Bank and Societe Generale, along with Bank of Maharashtra, set up their IFSC Banking Units (IBUs) at GIFT City, further strengthening the depth of its international banking ecosystem. GIFT City's banking ecosystem has also been strengthened by the launch of the Foreign Currency Settlement System (FCSS) in October 2025, enabling IFSC Banking Units to settle foreign currency transactions locally. This reduces reliance on traditional correspondent banking channels, improves efficiency, and enhances the ease of doing cross-border business from GIFT City. The growth in banking assets at GIFT IFSC reflects increasing global and domestic participation in India's international financial services ecosystem. The presence of leading global banks, along with continued expansion by Indian banking players, is strengthening GIFT City's role in facilitating cross-border financial flows. With a growing base of global and domestic institutions, improving market infrastructure, and policy support, GIFT IFSC is emerging as a key platform for international banking, treasury operations, and cross-border financial services from India. (ANI)
New Delhi [India], December 6 (ANI): After a steep correction in October 2024, where the Nifty 50 index fell around 6 per cent and closed 8 per cent lower than its all-time highs, FII outflows reduced in November, a sharp drop from October outflows says a report by JM Financials. The benchmark index remained largely flat in November, reflecting a calmer trading environment. Foreign Institutional Investor (FII) activity also exhibited a notable slowdown in selling pressure. FII outflows reduced to Rs182 billion (USD 2.2 billion) in November, a sharp drop from Rs919 billion (USD 10.9 billion) ...Read More >
The Reserve Bank of India raised the interest rate caps on Foreign Currency Non-Resident Bank (FCNR-B) deposits to attract more capital inflows, amid pressures on the rupee. Starting December 6, banks can offer higher rates -- up to 400 basis points for 1-3 year deposits and 500 basis points for 3-5 year deposits -- until March 31, 2025. This move comes as the rupee faces volatility.The Reserve Bank of India on Friday announced a raise in the interest rate caps on the Indian diaspora's foreign cu ...Read More >
Mumbai, Feb 10: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interban ...Read More >
Mumbai, Jun 5 (PTI) The rupee snapped its two-day losing streak and closed 8 paise higher at 85.79 against the US dollar on Thursday, supported by positive domestic equities and a rise in Asian currencies. Forex traders said overnight softening of crude oil prices favoured the rupee. However, a strong US dollar index capped sharp gains. Besides, market participants are now keenly awaiting the outcome of the Reserve Bank of India's (RBI's) monetary policy meeting for further cues, they said. At the interbank foreign exchange, the domestic unit witnessed a volatile trading session -- it opene ...Read More >
CCI has also approved a 25.18 per cent equity stake in Future Generali India Life Insurance Company Ltd (FGILICL) through a bid/resolution plan submitted by Central Bank of India | Image: Wikimedia Commons State-owned Central Bank of India on Thursday said it has acquired a 25.18 per cent stake in Future Generali India Life Insurance Company Limited (FGILICL) for a cash consideration of Rs 57 crore as part of the insolvency process. With the acquisition of 65,43,80,439 shares on Wednesday (June ...Read More >
New Delhi [India], June 6 (ANI): Economists across the board have welcomed the Reserve Bank of India's (RBI) latest policy decision, terming the 50 basis points (bps) repo rate cut as a pro-growth move that is expected to significantly boost liquidity and economic activity in the country. On Friday, RBI Governor Sanjay Malhotra announced the decision of the Monetary Policy Committee (MPC), stating that the policy repo rate has been reduced from 6 per cent to 5.5 per cent. Also Read | Citigroup Layoffs: Banking Giant To Cut 3,500 Tech Roles From China Citi Solution Centres in Shanghai and Dal ...Read More >
New Delhi [India], June 6 (ANI): Aadhaar number holders carried out over 211 crores authentication transactions, pushing the total number of such transactions since Aadhaar's inception to more than 15,223 crores (152.23 billion), according to a release by the Ministry of Electronics & IT. The ministry reported that the transaction in May 2025 saw more transactions, as compared to the same month last year, when 201.76 Cr such transactions were carried out. This growth in number is a reflection of how Aadhaar-based authentication has been playing a facilitating role in effective welfare delive ...Read More >
Berhampur (Odisha), Jun 6 (PTI) Environmental activist Medha Patkar on Saturday appealed to the people of Odisha for protection of Rushikulya river. The government planned to construct a dam in the river Pipalapnaka under Sorada block in the district. While participating in the Save Rushikulya river movement in Ganjam district, she said, "Rivers may be small or big, but they are our mother. We have to protect the rivers from attacks." She attended a meeting were organised by the Rushikulya Banchao Kriyaanusthan Committee (RBKC) and the Centre for Climate Justice, spearheading the agitation a ...Read More >
NEW DELHI: Axiom-4 crew members, including Shubhanshu Shukla, were welcomed with hugs and drinks as they stepped into the International Space Station on Thursday. The newly launched spacecraft -- the fifth in the Dragon series and named Grace -- successfully completed a soft docking with the International Space Station at 4.01pm while orbiting above the North Atlantic Ocean."At 6:31 am EDT (4:01 IST) on Thursday, the SpaceX Dragon spacecraft docked to the International Space Station for the fourth private astronaut mission to the orbiting laboratory, Axiom Mission 4," the National Aeronautics ...Read More >
New Delhi [India], June 5 (ANI): External Affairs Minister S Jaishankar, in the presence of leaders of Central Asian countries, touched upon various business opportunities and complementarities between these respective economies on Thursday. Jaishankar suggested a few areas where India and Central Asian countries should collaborate to improve their economies. Jaishankar noted that India's trade and economic ties with Central Asia have actually shown a very strong positive trend over the last decade. However, he has also said that the trade figures do not reflect the full potential. Given th ...Read More >
]New Delhi: Financial services secretary M Nagaraju has written a letter to the chief secretaries of the state governments, urging them to deal firmly and with deterrent legal measures to protect bank staff and ensure uninterrupted public access to banking. In the letter, sent on Wednesday, he said securing the availability of banking services to the public at all times is essential to enable households to meet their daily financial needs, access government welfare benefits through direct benefit transfer and for traders, micro-entrepreneurs, farmers and industries to carry on their economic ...Read More >
CHENNAI: Indian equity markets experienced a significant rally today, spurred by the Reserve Bank of India's (RBI) unexpected policy measures aimed at stimulating economic growth. The RBI slashed the key repo rate by 50 basis points and reduced the Cash Reserve Ratio (CRR) by 100 basis points, injecting approximately ₹2.5 lakh crore into the banking system. This aggressive easing, coupled with a shift in the RBI's policy stance from 'accommodative' to 'neutral', boosted investor sentiment across sectors. The apex bank's bold policy actions have injected liquidity and optimism into the markets ...Read More >
New Delhi, Jun 8 (PTI) Infosys has opened a new development centre at Gujarat International Finance Tec-City (GIFT City), Gandhinagar, to develop solutions for global Banking, Financial Services, and Insurance (BFSI) clients. The facility, designed to accommodate over 1,000 employees working in a hybrid model, was inaugurated by Gujarat Chief Minister Bhupendrabhai Patel. "It will function as a key TechFin hub, delivering advanced digital solutions for global BFSI clients. Its services will span critical domains including digital banking, regulatory affairs, trade finance, capital markets, c ...Read More >
New Delhi [India], June 8 (ANI): External Affairs Minister S. Jaishankar will undertake an official visit to France, the European Union (EU), and Belgium from June 8 to 14, 2025, the Ministry of External Affairs announced in a press release on Sunday. The visit marks a significant step in further strengthening India's strategic partnerships with Europe. The EAM will first travel to Paris and Marseille, France, where he will hold bilateral discussions with the Minister for Europe and Foreign Affairs of France, Jean Noel Barrot. Also Read | Indian Citizen Dies in UAE: Civil Engineer Issac Paul ...Read More >
At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close The rupee fell 2 paise to trade at 84.49 against the U.S. dollar in early trade on Friday (November 29, 2024) dragged down by significant foreign fund outflows and month-end dollar demand from importers. Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close. On ...Read More >
Mumbai, Jan 22 (PTI) The rupee appreciated 23 paise to close at 86.35 against the US dollar on Wednesday, supported by positive domestic equities and soft American currency index. Forex traders said the rupee is likely to witness high volatility with a negative bias ahead of key events in the global and domestic economic landscape. Moreover, the overall uncertainty about the global economy continued to weigh on both currencies and commodities, keeping investors on edge. At the interbank foreign exchange, the rupee opened at 86.56 against the greenback. During the day, the local unit touche ...Read More >
Mumbai: The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts. The Reserve Bank of India (RBI) has kept the repo rate (short-term lending rate) unchanged at 6.5 per cent since February 20 ...Read More >
New Delhi [India], June 6 (ANI): Indian stock markets opened on a cautious note on Friday, as investors remained in a wait-and-watch mode ahead of the Reserve Bank of India's key monetary policy announcement. The policy decision is scheduled to be announced at 10 AM. The benchmark indices reflected this cautious mood. The Nifty 50 opened at 24,748.70, down just 2.20 points or 0.01 per cent. Similarly, the BSE Sensex also opened flat at 81,434.24, down 7.80 points or 0.01 per cent. Experts believe that any decision on the policy rate could significantly influence the market sentiment, especia ...Read More >
Trump warns BRICS nations against replacing US dollar Dec 2 (Reuters) - A gauge of emerging market stocks rose on Monday, driven by positive manufacturing data from China and expectations of continued policy support from Beijing, while India's rupee hit a record low because of weaker-than-expected economic data. As of 0932 GMT, the MSCI's index for emerging market stocks had risen by 0.7%, on track for its biggest percentage gain in over three weeks. China's blue-chip CSI 300 climbed 0.8%, and the Shanghai Composite index jumped 1.1% after a private survey indicated that Chinese factory act ...Read More >
Mumbai: The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds. Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down the Indian currency, forex traders said. Also, dollar strengthened on increased demand amid the anticipation of restrictive trade measures by the new US administration after Donald Trump takes over as president January 20. At the interbank foreign exchange, the ...Read More >
New Delhi, June 5 (SocialNews.XYZ) Aadhaar number holders executed over 211 crore authentication transactions in May this year taking the cumulative number of such transactions to more than 15,223 crore since inception, according to a statement issued by the Ministry of Electronics & IT on Thursday. The May authentication transactions are more than the previous month, as well as of May 2024 when 201.76 Cr such transactions were carried out. The growing number shows, how Aadhaar-based authentication has been playing a facilitating role in effective welfare delivery, and voluntarily availing v ...Read More >
NEW DELHI, June 6 (Xinhua) -- India's foreign exchange reserves declined by 1.24 billion U.S. dollars to 691.49 billion dollars during the week ended May 30, showed the weekly data released by the country's central bank, the Reserve Bank of India (RBI), on Friday. In the preceding week, the country's forex reserves had increased by nearly 7 billion U.S. dollars. According to RBI Governor Sanjay Malhotra, the forex reserves were robust and sufficient to cover more than 11 months of goods imports and about 96 percent of the country's outstanding external debt. The central bank's weekly bullet ...Read More >
The U.S. dollar continued its strong run on Monday, bolstered by soaring Treasury yields and expectations of limited Federal Reserve rate cuts. Meanwhile, the yen steadied ahead of a key speech by Bank of Japan Governor Kazuo Ueda, where he may hint at a possible rate hike in December, with markets pricing a 55% chance of such a move. Japanese Finance Minister Katsunobu Kato's warning on yen intervention caused a temporary pullback, while the dollar index touched a one-year high of 107.07. Analysts forecast further dollar gains as U.S. economic policies and performance outshine global peers. K ...Read More >
Rupee has maintained its position as one of the best performing Asian currencies, despite the ongoing challenges and geopolitical crisis in the Middle East. Pankaj Chaudhary, Minister of State for Finance on Monday said that this stance indicates India's strong economic fundamentals. In a written reply in the Lok Sabha, he mentioned that Rupee's is market-determined, not limited to any target or specific level. He noted that, as of November 19, 2024, the domestic currency had dropped 1.4 percent against the US dollar in the current calendar year (CY) 2024 and decline was primarily driven by ...Read More >
(Bloomberg) -- Indian bonds are poised to gain while the rupee is set to weaken as analysts bet on a softer monetary policy after the government named career bureaucrat Sanjay Malhotra as the new Reserve Bank of India governor. Most Read from Bloomberg Malhotra, a surprise pick, will take charge from Shaktikanta Das under whom the RBI kept borrowing costs unchanged for almost two years. While Malhotra's views on monetary policy are largely unknown, he recently urged revenue officials to prioritize economic growth, and the markets may read his appointment as dovish. The central bank is expec ...Read More >
New Delhi, Dec 18 (PTI) Reliance Nippon Life Insurance, a subsidiary of debt-ridden Reliance Capital (RCAP), has initiated talks with IndusInd Bank for bancassurance partnership as the IIHL and RCAP deal has reached the final lap. Mauritius-based IndusInd International Holdings Ltd (IIHL), the parent entity of IndusInd Bank, won the bid to acquire RCAP and entities under it. Also Read | Cancer Vaccine Ready for Use, Announces Russia; What Is the Cost? How Effective Is It? When Will It Be Available?. "IIHL and Japan-based Nippon Life have struck a good understanding and they are absolutely c ...Read More >
Mumbai, Dec 18 (PTI) Private equity and venture capital (PE/VC) funds invested USD 4 billion in November, which was 156 per cent higher than the year-ago period but lower about 15 per cent compared with the preceding month, a report said on Wednesday. The month saw 87 deals -- 47 per cent higher than the 59 transactions in November 2023, as per the report by industry lobby grouping IVCA and consultancy firm EY. "While 2024 had started off on a strong note, geopolitical tensions, uncertainty over US elections outcome, and inflation weighed on the markets, as did the bid-ask spread between sel ...Read More >
New Delhi, Jun 26 (PTI) Union Minister Sarbananda Sonowal on Thursday launched the country's first non-banking financial company in the maritime sector -- Sagarmala Finance Corporation Ltd (SMFCL). As a sector-specific NBFC, SMFCL is set to bridge financing gaps in the maritime sector and catalyse economic growth, the minister of Ports, Shipping and Waterways said. Also Read | What Are the New Metro Compensation Rules in India? Ministry of Housing and Urban Affairs Enhances Payouts for Death and Severe Injuries; Check Details. The corporation will provide financial products -- including sho ...Read More >
Trump's pressure on countries to remain tied to a US-dollar-based financial system could backfire, with potential increased motivation for BRICS to create alternatives. While the dollar's dominance persists due to existing economic strengths, recent global currency agreements indicate a cautious shift away from reliance on the greenback.Donald Trump's pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers say. Dollar dominance looks set to continue for the foreseeable future and emerging nations' idea of ...Read More >
Asian and European stocks surged thanks to tech companies driving Wall Street to record highs. Japan's Nikkei and several European indices rose, while the US dollar stabilized after a previous surge. Political tensions in France and tariff threats from the US also affected market movements and currency valuations. Stock markets across Asia and Europe experienced a resurgence on Tuesday, driven in part by a strong performance in tech stocks in the US. Japan's Nikkei index surged by 1.91%, and the MSCI Asia index saw a 1.16% rise, bolstered by Wall Street's record highs overnight. European ind ...Read More >