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New Delhi, Apr 3 (PTI) The Reserve Bank of India (RBI) has accorded approval to Dubai-based Emirates NBD Bank to acquire up to a 74 per cent stake in RBL Bank, paving the way for the bank to become a foreign lender. The approval from RBI came on April 1 with one year validity, RBL Bank said in a regulatory filing on Thursday. The approval follows Emirates NBD Bank, the second largest in UAE, expressing its interest in October 2025 to acquire a majority 60 per cent stake in RBL Bank for Rs 26,8 ...Read More >
The All India Bank Employees' Association (AIBEA) has written to Finance Minister Nirmala Sitharaman seeking a comprehensive inquiry into the issues raised by Atanu Chakraborty, former Part-Time Chairman of HDFC Bank, in his resignation letter. In his resignation letter dated March 17th, Chakraborty said that certain "happenings and practices" within the bank were not in congruence with his personal values and ethics. The Association has sought the government's intervention for assessing the g ...Read More >
Mumbai, April 3 (SocialNews.XYZ) Indian equity markets closed lower for the sixth consecutive week amid escalating geopolitical tensions in West Asia and sharp currency fluctuations, with both headline indices ending in the red during a shortened four-day trading week. Sensex ended at 73,319.55 on Thursday, down 263.67 points or 0.35 per cent, compared to the previous Friday's close. Nifty 50 settled at 22,713.10, a decline of 106.50 points or 0.46 per cent on a week-on-week basis. In the fina ...Read More >
MUMBAI: The rupee recorded its strongest recovery in 13 years, rising 173 paise to close at 93.1 from Tuesday's 94.83, after RBI tightened rules to curb speculative bets and forced a sharp unwinding of dollar positions.However, with a fresh round of US bombing in Iran post market hours, which resulted in global oil prices surging further, dealers are wary of a fresh wave of volatility when forex markets open next week.Thursday's rebound followed a series of regulatory steps aimed at squeezing sh ...Read More >
The RBI bank holiday calendar will be followed by all public and private sector banks, including SBI, PNB, BOI, HDFC, ICICI, Axis Bank and others. Check out the full list of bank holidays this week: I. March 30: The banks will observe a holiday due to Mahavir Jayanti in Karnataka. II. March 31: Banks in Ahmedabad, Maharashtra, Madhya Pradesh, Tamil Nadu, Rajasthan, Uttar Pradesh, West Bengal, New Delhi, Bihar, and Jharkhand will observe a holiday due to Mahavir Janmakalyanak/Mahavir Jayanti. ...Read More >
MUMBAI: Even as debt and fiscal deficit rose sharply in the last two years, Maharashtra's revenue in FY25-26 fell significantly across key heads -- Goods and Services Tax (GST), excise duty, motor vehicle tax, and stamp duty and registration of properties. This led to a revenue shortfall of around ₹41,000 crore against budget estimates, slowing capital expenditure and development projects. Provisional figures at the end of the financial year put total revenue receipts at ₹5.60 lakh crore, falli ...Read More >
Mumbai, April 2: The rupee logged one of its steepest single-day gains in many years and settled 152 paise higher at 93.18 against the US dollar on Thursday after the Reserve Bank stepped in with a slew of measures to restrict banks from onshore forward markets. The domestic unit, however, remained under pressure due to the unabated withdrawal of foreign capital, a strengthening dollar, and rising crude oil prices amid a volatile geopolitical situation, forex analysts said. At the interbank fo ...Read More >
Mumbai, April 2: Staging a spirited recovery, stock markets pared early losses to close higher on Thursday, with the benchmark Sensex rising by 185 points and the broader Nifty settling above 22,700 on strong value buying in IT and banking shares and a sharp rebound in the rupee. Rebounding more than 2,000 points from the day's low, the 30-share BSE Sensex finally settled higher by 185.23 points, or 0.25 per cent, at 73,319.55. The index opened lower and tanked further by 1,588 points to hit a ...Read More >
Mumbai: Heightened uncertainty transmitting from the West Asia crisis into India's growth and inflation outlook may compel the Monetary Policy Committee (MPC) of the Reserve Bank of India to hold the benchmark repo rate to 5.25 per cent next week and maintain a neutral stance. The central bank is also likely to announce measures to support liquidity and the rupee. The three-day policy meeting of the MPC (RBI's rate-setting panel) will begin on April 6. Globally, a lot has changed since the RBI ...Read More >
Mumbai: The Indian rupee appreciated 173 paise on Thursday, its best single-day gain in 13 years, after fresh steps by the Reserve Bank of India (RBI) aimed at curbing speculative activity boosted sentiment in the currency market. The rupee's appreciation came even as crude oil prices rose over 5 per cent during the day after US President Donald Trump vowed to strike Iran very hard over the coming two to three weeks, renewing prolonged oil supply disruption risks. At the interbank foreign excha ...Read More >
Mumbai, Apr 2 (PTI) The Reserve Bank on Thursday allowed residents as well as non-residents to exchange Indian rupee notes at foreign exchange counters at departure halls in international airports beyond the immigration or customs desk. Earlier, such foreign exchange counters were only allowed to buy Indian rupee from non-residents and sell foreign currency to them. "On a review, it has been decided to allow residents (along with non-residents) to exchange Indian rupee notes at foreign exchang ...Read More >
New Delhi [India], April 2 (ANI): The Reserve Bank of India (RBI) has allowed people to exchange Indian rupee notes at foreign exchange counters located in the departure halls of international airports, expanding an earlier provision that applied only to non-residents. In a circular issued on Thursday, the RBI said the decision was taken after reviewing the existing framework governing money-changing activities at airports. "On a review, it has been decided to allow residents (along with non-r ...Read More >
New Delhi, Apr 2 (PTI) Parliament on Thursday passed a Bill to amend 784 provisions in 79 central laws for decriminalising and rationalising minor offences to further improve business environment and check harassment of people. The Jan Vishwas (Amendment of Provisions) Bill, 2026, was passed in the Rajya Sabha with a voice vote after Commerce and Industry Minister Piyush Goyal replied to a discussion on the legislation. The Bill was passed by the Lok Sabha on Wednesday. The minister said the ...Read More >
New Delhi, April 2 (SocialNews.XYZ) The Reserve Bank of India (RBI) has issued a compounding order on February 20 this year under Section 15 of the Foreign Exchange Management Act (FEMA), 1999, in the Rs 4.1 crore case filed against Vikram Mundlur, which has resulted in the termination of adjudication proceedings against him for contraventions of provisions of FEMA, 1999. The order has been passed by the RBI after issuance of a "no objection" statement by the Enforcement Directorate (ED) which ...Read More >
India's Unified Payments Interface (UPI) has achieved a new milestone with record transaction volumes, solidifying its position as a leading digital payment system and expanding its global footprint. Key PointsUPI transactions in India hit a record 22.64 billion in March, showcasing the rapid adoption of digital payments.The volume of UPI transactions increased by 24% compared to the previous year, highlighting significant growth in usage.UPI now accounts for 85% of all digital transactions in ...Read More >
New Delhi [India], April 2: Digital lending apps have made borrowing quicker and more convenient than before. However, comparing options before choosing a Personal Loan app is important to avoid high charges or inflexible repayment terms. Selecting a loan app without reviewing key features can lead to unexpected costs or poor customer support. This guide outlines key features to help you assess your options effectively, enabling you to choose a more secure and cost-effective borrowing option. A ...Read More >
New Delhi, Apr 2 (PTI) Margin pressure for Indian banks could increase, as the Reserve Bank of India's (RBI) flexibility to inject local-currency liquidity into the banking system has narrowed amid efforts to contain rupee volatility, a report said on Thursday. However, banks' direct foreign-currency risks remain limited, Fitch Ratings said in a report. "Sector margins could decline by 20-30 bps below our current 3.1 per cent forecast for the financial year ending March 31, 2027 (FY27) if high ...Read More >
VMPL New Delhi [India], April 2: Digital lending apps have made borrowing quicker and more convenient than before. However, comparing options before choosing a Personal Loan app is important to avoid high charges or inflexible repayment terms. Selecting a loan app without reviewing key features can lead to unexpected costs or poor customer support. This guide outlines key features to help you assess your options effectively, enabling you to choose a more secure and cost-effective borrowing opti ...Read More >
New Delhi: The month of April holds significant importance in terms of weather transitions. In fact, this year -- spanning from March right up to today, April 2nd -- temperatures have already risen to levels high enough to cause people to break into a sweat. Across North India, this sudden surge in temperatures has begun to take a toll on the pace of daily life. In the upper reaches of Himachal Pradesh, Uttarakhand, and Kashmir, snowfall has led to a drop in temperatures, causing inconvenience ...Read More >
UPI hit a record 22.64 billion transactions in March 2026 worth 29.53 lakh crore rupees, driven by wider digital adoption, with security a key focus for regulators and firms India's real-time payments infrastructure recorded its highest-ever monthly activity in March 2026, underscoring the rapid expansion of digital transactions across the country. India's Unified Payments Interface (UPI), operated by the National Payments Corporation of India, processed 22.64 billion transactions during the m ...Read More >
New Delhi, Apr 2 (PTI) Transaction through the Unified Payments Interface (UPI) touched a record high of 22.64 billion in volume terms in March. "UPI achieves 22.64 Bn transaction count in March'26! Thank you, India, for embracing digital payments and driving this revolution forward. Let's continue the journey of transforming the way we transact!," Department of Financial Services said in a post on X. In volume terms, 22.64 billion transactions were carried during the month as compared to 18.3 ...Read More >
Mumbai (Maharashtra) [India], April 2 (ANI): The stock markets recovered from early losses on Thursday and ended the session in the green, reflecting resilience in investor sentiment despite global uncertainties. The Nifty 50 index closed at 22,713.10, gaining 33.70 points or 0.15 per cent, while the BSE Sensex settled at 73,319.55, up by 185.23 points or 0.25 per cent. Also Read | What Is 'Floccinaucinihilipilification'? Meaning Explained After Delhi Court Uses Rare Word in Nirmala Sitharaman ...Read More >
India's Unified Payments Interface (UPI) has achieved a new milestone with a record number of transactions in March, demonstrating its growing dominance in the digital payments landscape and expanding global reach. Key PointsUPI transactions in India hit a record 22.64 billion in March, showcasing the rapid adoption of digital payments.UPI combines ease of use with strong security measures, including two-factor authentication, making it a preferred payment method.UPI accounts for 85% of all dig ...Read More >
NEW DELHI: The Indian Rupee saw its biggest single-day gain in nearly 13 years on Thursday, closing at 93.10 against the US dollar, as authorities stepped up efforts to curb currency speculation. The sharp rally came after the Reserve Bank of India tightened rules in both domestic and offshore markets. "The move was largely driven by improved risk sentiment following US President Donald Trump's speech, which hinted at negotiations rather than escalation, triggering a relief rally. However, unc ...Read More >
Mumbai (Maharashtra) [India], April 2 (ANI): The stock markets recovered from early losses on Thursday and ended the session in the green, reflecting resilience in investor sentiment despite global uncertainties. The Nifty 50 index closed at 22,713.10, gaining 33.70 points or 0.15 per cent, while the BSE Sensex settled at 73,319.55, up by 185.23 points or 0.25 per cent. Markets had opened on a weak note amid rising geopolitical tensions. However, a recovery during the day helped indices close ...Read More >
New Delhi: The Indian Rupee saw its biggest single-day gain in nearly 13 years on Thursday, closing at 93.10 against the US dollar, as authorities stepped up efforts to curb currency speculation. The sharp rally came after the Reserve Bank of India tightened rules in both domestic and offshore markets. "The move was largely driven by improved risk sentiment following US President Donald Trump's speech, which hinted at negotiations rather than escalation, triggering a relief rally. However, unc ...Read More >
(RTTNews) - Indian shares reversed steep early losses to end modestly higher on Thursday. Domestic markets staged a gap-down opening, with benchmark indexes Sensex and Nifty declining around 2 percent in early trade, as U.S. President Donald Trump's address to the nation on the war in the Middle East damped hopes for a swift resolution to the conflict. The dollar and bond yields surged, and oil prices jumped more than 7 percent after Trump said the U.S. military goals were "nearing completion, ...Read More >
New Delhi, April 2 (SocialNews.XYZ) The Middle East conflict and elevated oil prices will likely lead to the Reserve Bank of India maintaining the policy repo rate unchanged at 5.25 per cent in its April 2026 MPC meeting, a report said on Thursday. The report from Bank of Baroda predicted that the economic landscape has reached the end of the rate cut cycle, and RBI will now remain on a prolonged pause. The central bank will likely maintain a neutral stance and remain vigilant about the evolvin ...Read More >
MUMBAI, April 2 (Reuters) - The Indian rupee extended gains against the U.S. dollar and rose above the 93 handle for the first time in nearly two weeks, as the central bank imposed curbs on speculative activity. The rupee climbed almost 2% to 92.94 per U.S. dollar after the latest central bank measures to curb a near one-way move witnessed in the currency over the last few days. Reporting by Dharamraj Dhutia; Editing by Sonia Cheema Our Standards: The Thomson Reuters Trust Principles., o ...Read More >
Rupee Crash Alert: The Indian Rupee breached the 95/USD mark on Monday, marking its steepest fiscal-year decline in a decade. The sharp weakness in the domestic currency could weigh on gold jewellery buyers, as a weaker rupee makes dollar-priced gold more expensive in India. The crude oil price rally due to supply constraints amid the Iran-US war is troubling the Indian Rupee. Additional factors like relentless selling by foreign investors in the Indian stock market and global uncertainty also ...Read More >
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