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Mumbai (Maharashtra) [India], December 16 (ANI): HDFC Bank has received approval from the Reserve Bank of India (RBI) to allow its group entities to collectively hold up to 9.50 per cent stake in IndusInd Bank, the bank informed the stock exchange in a filing. The bank stated that RBI granted permission to HDFC Bank, which is the promoter and sponsor of several group entities, to acquire an "aggregate holding" of up to 9.50 per cent of the paid-up share capital or voting rights in IndusInd Bank ...Read More >
(RTTNews) - Indian shares are seen opening lower on Tuesday, tracking weak cues from global markets in the run-up to the release of key U.S. economic data that could offer clarity on the economic and rate outlook. Meanwhile, media reports suggest that India and Mexico are negotiating a limited preferential trade agreement to address the impact of Mexico's proposed 50 percent tariffs on Indian exports. Mexico is India's third-largest car export destination after South Africa and Saudi Arabia. ...Read More >
New Delhi, Dec 15 (SocialNews.XYZ) The Reserve Bank of India, as on March 31 this year, held 879.58 metric tonnes of gold as compared to 822.10 metric tonnes as on March 31, 2024, reflecting an increase of 57.48 metric tonnes, the Parliament was informed on Monday. These gold holdings contribute to strengthening confidence in the Indian rupee and the overall external stability of the economy, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha in a reply to a question. To questio ...Read More >
Mumbai: The Reserve Bank of India (RBI) on Thursday removed all restrictions on banks opening and maintaining cash credit accounts under new transaction account rules. "A cash credit account is operationally different from a current or overdraft account," the central bank said, adding banks may now offer these facilities based on customer needs without restriction. Cash credit acts as a short-term, flexible business loan for working capital. The regulator adopted the changes following industry ...Read More >
Gold is consolidating high again, prolonging its remarkable monster bull. Since rocketing into extreme overboughtness in mid-October, gold has largely been drifting sideways on balance. This is really defying precedent for big-and-fast drawdowns after such massive runs, for an unbelievable fourth time in this bull. How its three earlier high consolidations played out offers insights into this current one's likely behavior. In a single month into October 20th, gold soared 18.2% achieving 15 new ...Read More >
Mumbai, Dec 15 (SocialNews.XYZ) Gold and silver prices rose sharply in early trade on Monday, supported by positive global cues and weakness in the US dollar. On the Multi Commodity Exchange (MCX), gold February futures were trading 0.72 per cent higher at Rs 1,34,580 per 10 grams during early trade. Silver March contracts also saw strong buying interest and climbed 1.36 per cent to Rs 1,95,466 per kg. The precious metals had seen sharp movements in the previous session as well. On Friday, De ...Read More >
Mumbai (Maharashtra) [India], December 5 (ANI): The Indian stock market on Friday ended higher after the Reserve Bank of India (RBI) cut the policy repo rate by 25 basis points to 5.25 per cent, as the MPC's outcome served as the key catalyst for the market's rebound. At the close of trading today, the BSE Sensex ended at 85,712.37, up 447.05 points or 0.52 per cent, while the NSE Nifty50 stood at 26,186.45, up 152.7 points or 0.59 per cent. Also Read | Dharmendra 90th Birth Anniversary: Sunny ...Read More >
Mumbai, Dec 5 (PTI) Home, auto and other loans are likely to cost less as the Reserve Bank of India (RBI) on Friday cut key benchmark interest rate for the first time in six months and vowed to provide Rs 1 lakh crore liquidity boost to banking sector to support a "goldilocks" economy in the face of high US tariffs. The six-member monetary policy committee, led by RBI Governor Sanjay Malhotra, voted unanimously to lower the repurchase or repo rate by 25 basis points to 5.25 per cent and retaine ...Read More >
Mumbai: Indian equity markets ended the week on a positive note after the Reserve Bank of India (RBI) announced a 25 basis point cut in the repo rate, bringing it down to 5.25 percent. The Monetary Policy Committee, led by Governor Sanjay Malhotra, also maintained a neutral policy stance. The central bank delivered a double surprise-cutting rates and sharply lowering the FY26 inflation forecast to 2 percent from 2.6 percent, while raising the growth projection to 7.3 percent from 6.8 percent. A ...Read More >
Mumbai (Maharashtra) [India], December 5 (ANI): The Indian stock market on Friday ended higher after the Reserve Bank of India (RBI) cut the policy repo rate by 25 basis points to 5.25 per cent, as the MPC's outcome served as the key catalyst for the market's rebound. At the close of trading today, the BSE Sensex ended at 85,712.37, up 447.05 points or 0.52 per cent, while the NSE Nifty50 stood at 26,186.45, up 152.7 points or 0.59 per cent. Broader markets were mixed, with the Nifty Midcap100 ...Read More >
New Delhi, Dec 5 (SocialNews.XYZ) The Reserve Bank of India's decision to cut the repo rate is a move that uses the monetary space created by low inflation to stimulate consumption and strengthen the growth cycle, bankers said on Friday. Sakshi Gupta, principal economist at HDFC Bank, said the cut was in line with expectations as GDP growth had inched up above 8 per cent in Q2 FY26, the risk from external headwinds on exports continuing to linger on. She said that the sustainability of festive‑ ...Read More >
New Delhi, Dec 1 (PTI) Gold prices surged by Rs 3,040 to Rs 1,33,200 per 10 grams in the national capital on Monday, tracking strong global trends and a weak US dollar, according to the All India Sarafa Association. Analysts said sustained jewellery demand amid the ongoing wedding season supported the precious metal. The precious metal of 99.5 per cent purity zoomed by Rs 3,040 to Rs 1,32,600 per 10 grams (inclusive of all taxes). Gold is now inching closer to its all-time high of Rs 1,34,800 ...Read More >
New Delhi, Nov 20 (PTI) Reserve Bank Governor Sanjay Malhotra on Thursday said the central bank does not target any level of rupee, and the recent depreciation of the domestic currency against the US dollar is due to demand for the greenback. The governor also said that the Reserve Bank has "very good" buffers of foreign exchange reserves, and there is no need for concern on the external sector. Delivering the VKRV Rao Memorial Lecture at the Delhi School of Economics, Malhotra also said the f ...Read More >
New Delhi [India], November 16 (ANI): India's foreign exchange reserves declined by USD 2.699 billion in the week that ended November 7 to USD 687.034 billion, driven by a slump in both foreign currency assets and gold reserves, the Reserve Bank of India's latest 'Weekly Statistical Supplement' data showed. Over the past month, the forex kitty has been in a downtrend, except for one week. Still, the country's foreign exchange (forex) kitty is hovering close to its all-time high of USD 704.89 b ...Read More >
Mumbai Gold Rate Today: Gold prices in Mumbai and other major Indian cities rebounded on Monday, November 3, after recently hitting multi-week lows. The recovery comes amid waning expectations of another US rate cut and stabilising geopolitical conditions. Many investors see the recent dip in prices as a favourable entry point for long-term gold investments. The domestic gold prices reflected the movement in international gold prices over the past few days. Back in Mumbai, gold often remains in ...Read More >
New Delhi, Oct 30 (PTI) Gold prices fell by Rs 1,000 to Rs 1,23,400 per 10 grams in the national capital on Thursday amid a firm dollar after the Federal Reserve hinted at a slower pace of rate cuts and progress in US-China trade talks. The precious metal of 99.5 per cent purity depreciated by Rs 1,000 to Rs 1,22,800 per 10 grams (inclusive of all taxes) from Wednesday's close of Rs 1,23,800 per 10 grams, according to the All India Sarafa Association. In the local bullion market, gold of 99.9 ...Read More >
Jana Small Finance Bank's application to become a universal bank has been returned by the Reserve Bank of India due to non-fulfilment of criteria. While the exact reasons are yet to be clarified, the bank plans to rectify issues and reapply. This setback postpones plans to reduce funding costs, though daily operations remain largely unaffected. Mumbai, Jana Small Finance Bank on Tuesday said the Reserve Bank of India (RBI) has returned its application to become a universal bank due to non-fulfi ...Read More >
Mumbai: Jana Small Finance Bank (SFB) on Tuesday said that the Reserve Bank of India (RBI) has returned its application to transition into a universal bank, citing non-fulfilment of the required eligibility criteria. The bank had submitted its application earlier this fiscal year (FY26) after meeting one of the key conditions under RBI's framework -- maintaining gross non-performing assets (NPAs) below 3 per cent and net NPAs under 1 per cent for two consecutive years. However, the central ban ...Read More >
[BENGALURU] Gold prices hovered n Tuesday (Oct 28) near their lowest in more than two weeks, as optimism over a possible US-China trade deal dented demand for the safe-haven metal, while investors looked forward to major central bank policy announcements this week. Spot gold was flat at US$3,981.67 per ounce, as at 8.24 am, after dropping more than 3 per cent in the previous session to its lowest level since Oct 10. US gold futures for December delivery lost 0.6 per cent to US$3,996.50 per oun ...Read More >
By Pranav Kashyap and Twesha Dikshit (Reuters) -U.S. stock index futures were trading at record highs on Monday as expectations of a trade deal between China and the United States aided risk appetite in a busy week of Big Tech earnings and a widely expected rate reduction from the Federal Reserve. At 06:22 a.m. ET, Dow E-minis rose 258 points, or 0.54%, Nasdaq 100 E-minis were up 332.5 points, or 1.3%, and S&P 500 E-minis gained 59.75 points, or 0.88%. Negotiators from the world's top two eco ...Read More >
New Delhi: Gold and silver fell sharply in the futures market on Monday, tracking weakness in global bullion markets as growing optimism over a potential US-China trade deal and a strong dollar weighed on the safe-haven asset. On the Multi Commodity Exchange (MCX), gold futures for December delivery dropped by Rs 1,546, or 1.25 per cent to Rs 1,21,905 per 10 grams in a business turnover of 12,428 lots. The yellow metal lost Rs 3,557, or 2.80 per cent, during the holiday-shortened week. "Gold ...Read More >
Sensex Today: Q2 results, ongoing US-India trade talks, renewed hopes around the US-China trade deal, and strong global cues are expected to guide Indian benchmark indices -- Sensex and Nifty -- on Monday, the first trading session of the week. At around 7:10 AM, GIFT Nifty futures were trading 109 points lower at 25,923, suggesting a positive start for domestic markets. Global cues Asian markets opened strong on Monday, tracking Wall Street's record rally and optimism over progress in US-Chi ...Read More >
NEW DELHI, Oct 26: Gold prices are likely to consolidate in the coming week as investors brace for major global events, including the US Federal Reserve's policy meeting, the Trump-Xi summit in South Korea, and the European Central Bank's policy review, analysts said. After a 10-week rally, gold turned negative, falling 2.8 per cent on the MCX due to profit-booking, weaker physical demand in India and China, and a stronger US dollar. On Comex, gold futures slipped 1.8 per cent, with a sharp 6 ...Read More >
New Delhi, Oct 26: India's economy is expected to maintain steady growth in the second half of FY26, driven by robust domestic consumption despite global headwinds, according to an SBI Capital Markets (SBICAPS) report. While escalating trade tensions and high tariffs -- particularly the US imposing 50 per cent duties on Indian exports -- pose external challenges, India's internal demand continues to anchor growth. Government-led capital expenditure at both central and state levels has increase ...Read More >
New Delhi [India], October 26 (ANI): India's foreign exchange reserves rose by USD 4.5 billion in the week that ended October 17 to USD 702.280 billion, primarily driven by a rise in gold reserves, the Reserve Bank of India (RBI) said in its latest 'Weekly Statistical Supplement'. The country's forex kitty is hovering close to its all-time high of USD 704.89 billion touched in September 2024. For the reported week, India's foreign currency assets (FCA), the largest component of foreign exchang ...Read More >
NEW DELHI, Oct. 25 (Xinhua) -- India's foreign exchange (forex) reserves rose by 4.496 billion U.S. dollars to 702.28 billion dollars during the week ending Oct. 17, mainly driven by a significant increase in the value of gold reserves, according to the latest data released by the country's central bank, the Reserve Bank of India (RBI). This was the first occasion when India's forex reserves rose after declining for four consecutive weeks. According to the data, the foreign currency assets (FC ...Read More >
The latest World Economic Outlook (WEO) report suggests that India's domestic strength continues to offset the impact of rising US tariffs and global trade tensions. India's Growth Outlook According to the IMF, the 6.6% forecast reflects strong performance in the first quarter of 2025, which helped neutralise much of the tariff-related impact on exports. However, the figure is 0.2 percentage points lower than the pre-tariff projection made in October 2024. India's economic expansion is expect ...Read More >
India is set to outpace China, which is expected to grow at 4.8%. New Delhi: The International Monetary Fund (IMF) has predicted that India will continue to be one of the fastest-growing 'emerging market and developing economies' in 2025-26, growing at a rate of 6.6%, according to the World Economic Outlook (WEO) report. This upward revision is attributed to strong economic performance in the first quarter, which has more than offset the effects of increased US tariffs on Indian goods. India ...Read More >
New Delhi [India], October 25 (ANI): The International Monetary Fund (IMF) has predicted that India will continue to be one of the fastest-growing 'emerging market and developing economies' in 2025-26, growing at a rate of 6.6%, according to the World Economic Outlook (WEO) report. This upward revision is attributed to strong economic performance in the first quarter, which has more than offset the effects of increased US tariffs on Indian goods. India is set to outpace China, which is expecte ...Read More >
Mumbai, Oct 24 (SocialNews.XYZ) India's foreign exchange reserves rose by $4.5 billion to $702.3 billion for the week ended October 17, mainly driven by an increase in the value of gold reserves, according to data released by the Reserve Bank of India (RBI) on Friday. India's gold reserves held by the RBI as part of the country's foreign exchange reserves surged by $6.2 billion to surpass the $108.5 mark for the first time on the back of a sharp rise in the price of the precious metal and incre ...Read More >
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