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MUMBAI: The rupee continued to plumb new depths, hitting an intraday low of 88.80 on Tuesday and ending the day at a fresh closing low for the second consecutive session at 88.79 to the greenback. The latest weakness is primarily driven by the worries over how the monetary policy committee would act on the key interest rates on Wednesday. The currency opened four paise lower at 88.79 and went down further to hit an all-time low of 88.80. With this, the unit has fallen 3.71% so far this year and ...Read More >
Mumbai: Traditionally, banks were barred from lending for buying gold or silver or offering loans secured by primary gold or silver. But under new guidelines, a carve‑out allows scheduled commercial banks (SCBs) to extend working capital loans to jewellers and businesses that use gold as raw material. This change means that manufacturers who rely on gold inputs -- beyond jewelry makers -- can now access credit backed by gold. More Flexibility in Interest Spreads and Rate Resets Previously, ban ...Read More >
MUMBAI, Sept 30 (Reuters) - The Indian rupee posted its fifth consecutive monthly fall against the U.S. dollar, and hit a record low on Tuesday, as trade tensions between India and the United States escalated, pushing up dollar demand. The rupee settled at 88.7875 against the U.S. dollar, its weakest ever closing level, and down slightly from its close of 88.7600 on Monday. Earlier in the day, the currency declined to an all-time low of 88.8000. The currency fell 0.7% in September, posting it ...Read More >
Mumbai: The Indian rupee slipped to a fresh historic low of 88.79 (provisional) against the US dollar on Tuesday, pressured by continued foreign capital outflows and growing concerns over global trade tensions. At the interbank foreign exchange market, the rupee opened at 88.73 and traded in a tight range between 88.69 and 88.80 before settling at 88.79. This marked a 4 paise drop from the previous closing rate. On Monday, the rupee had already ended lower by 3 paise at 88.75 per dollar. Accor ...Read More >
MUMBAI, Sept 30 (Reuters) - India's imports of gold and silver nearly doubled in September from August, defying record high prices, as banks and jewellers rushed to build inventories ahead of festivals and escape higher taxes on imports, trade and government sources said. Higher imports by India, the world's second-biggest consumer of the precious metal, are set to support gold prices that hit records this week, even as demand languishes in top buyer China. The surge in imports could widen Ind ...Read More >
Mumbai, Sep 30 (PTI) The rupee fell 4 paise to an all-time low of 88.79 (provisional) against the US dollar on Tuesday, pressured by sustained foreign capital outflows amid global trade uncertainties. However, a steep fall in global crude oil prices, along with a weaker greenback, prevented a sharp decline in the local unit, according to forex traders. The markets are also awaiting the Reserve Bank of India's (RBI's) Monetary Policy Committee decision, which will be announced on Wednesday. At ...Read More >
MUMBAI (Reuters) -India's imports of gold and silver nearly doubled in September from August, defying record high prices, as banks and jewellers rushed to build inventories ahead of festivals and escape higher taxes on imports, trade and government sources said. Higher imports by India, the world's second-biggest consumer of the precious metal, are set to support gold prices that hit records this week, even as demand languishes in top buyer China. The surge in imports could widen India's trade ...Read More >
Mumbai: Purchases of Indian bonds by overseas investors slowed in September after rising over the past two months as a fall in the rupee made investors cautious. The rupee, which is the worst performing currency among in Asia this year, has been under pressure mostly through September on mounting worries of higher US tariffs. On September 23, it fell to a fresh record low of 88.7975 per dollar. A weak rupee erodes returns for foreign portfolio investors. Net inflows in the fully accessible rou ...Read More >
MUMBAI: Gold and silver prices continued to record new all-time highs in the domestic market on Monday. It was backed by rallies in international prices on the likelihood of a US govt shutdown, trade-related jitters, and the continuing weakness of the rupee against major currencies.In the local spot market silver hovered around the Rs 1.5 lakh/kg mark, while gold was nearing the Rs 1.2 lakh/10gm mark. In international markets, the price of the yellow metal neared the $3,900/ounce (Oz) mark, a ne ...Read More >
India's rice exports for marketing year 2025-26 (October-September) are set to rise to 22-23 million metric tons, up 10%-15% year over year with the ambitious expectations to close exports at 30 million mt, up 50% year over year, against the backdrop of a bumper crop with estimated production at 145 mil mt, up 7% up year over year, Prem Garg, National president of Indian Rice Exporters Federation and chairman of the Shri Lal Mahal Group, told Platts. Meanwhile, as per IREF estimates, surplus st ...Read More >
PATNA: Days after a Bharatiya Janata Party (BJP) leader sought details about the funding of the Jan Suraaj Party, its founder and political strategist, Prashant Kishor, on Monday disclosed his income sources, stating that he earned Rs 241 crore as consultancy fees over the past three years. "Jan Suraaj Party's funding is transparent and clean. I worked as a consultant and charged fees for my work. I earned Rs 241 crore in three years, paid Rs 31 crore as GST and Rs 20 crore as Income Tax, and d ...Read More >
Mumbai, Sep 29 (PTI) Rupee consolidated in a narrow range and settled for the day lower by 3 paise at 88.75 against the US dollar on Monday, on persistent foreign capital outflows and rise in risk-off sentiments. Forex traders said rupee is hovering near its all-time low level as investors remained concerned over global trade uncertainties and impact of US visa fee hike on India's IT services exports. Moreover, the Reserve Bank of India (RBI) policy meeting outcome on October 1, is expected to ...Read More >
Khargone (Madhya Pradesh): Heavy rainfall in Madhya Pradesh's Khargone district has turned into a disaster for farmers and cotton factory owners. The unexpected downpour damaged crops in fields and destroyed stored cotton worth crores of rupees. Torrential rain hit Kasrawad Road on Saturday, flooding cotton ginning units. A viral video shows hundreds of quintals of cotton being washed away by strong water currents. The floodwater swept through the ginning factories, carrying cotton heaps like ...Read More >
Mumbai, Sep 29 (PTI) Rupee consolidated in a narrow range and settled for the day lower by 7 paise at its all-time closing low of 88.79 (provisional) against US dollar on Monday, on persistent foreign capital outflows and rise in risk-off sentiments. Forex traders said rupee is hovering near its all-time low level as investors remained concerned over global trade uncertainties and impact of US visa fee hike on India's IT services exports. Moreover, the Reserve Bank of India (RBI) policy meetin ...Read More >
Mumbai, Sep 29 (PTI) Rupee rises 3 paise to 88.69 against the US dollar in early trade on Monday, tracking positive Asian currencies and weakness of the American currency in the overseas market. Forex traders said the rupee is trading in a tight range as it remains under pressure influenced by continued capital outflows and geo-political developments. Moreover, the RBI policy meeting outcome on October 1, is expected to influence the rupee and government bond movements. At the interbank forei ...Read More >
MUMBAI: Mint Road observers are divided over the outcome from the three-day monetary policy committee (MPC) meeting beginning Monday, with some expecting the rate-setting panel to deliver yet another surprise rate cut on Wednesday, while others expect the status quo to continue. More economists are expecting the status quo wherein the Reserve Bank led MPC leaving the rates unchanged at 5.50, while two led by SBI's chief economist Soumya Kanti Ghosh and an economist at the Japanese brokerage Nom ...Read More >
Srinagar: The Special Crime Wing, Srinagar of Crime Branch Kashmir is carrying out house searches at five different locations in Srinagar and Budgam. The searches are underway in connection with the investigation of a case registered at Police Station Special Crime Wing, Srinagar (Crime Branch Kashmir) pertaining to commission of cheating, a spokesman said in a statement issued to the news agency -- Kashmir News Observer (KNO). "The case had been registered in pursuance of a complaint in which ...Read More >
PNNBengaluru (Karnataka) [India], September 27: In today's business landscape, where financial intelligence drives corporate decisions, the CMA course has emerged as one of the most powerful credentials for ambitious professionals. Miles Education, with its 70,000+ alumni and global reputation, has been at the forefront of preparing students to conquer the world of management accounting. The program doesn't just teach you theories-it transforms you into a leader who can navigate complex financia ...Read More >
Mumbai, Sep 26 (SocialNews.XYZ) The Indian equity benchmarks ended this week with the steepest weekly decline in six months, as well as registering a sixth consecutive session of decline -- amid concerns over H-1B visa fee hike and US pharma tariffs. Nifty and Sensex ended with a decline of around 2.50 per cent and 2.54 per cent, respectively, even as IT and pharma sectors came under selling pressure. Midcap and small-cap indices witnessed even higher selling pressure due to stretched valuatio ...Read More >
MUMBAI (Reuters) -The Indian rupee is likely to stay under pressure on Friday and could slip to an all-time low after U.S. President Donald Trump unveiled a new round of tariffs, including a 100% duty on any branded or patented pharmaceutical products. The 1-month non-deliverable forward indicated the rupee will open around the all-time low of 88.7975 hit earlier this week, compared with Thursday's close of 88.6650. Meanwhile, on Thursday, Trump said duties on branded drugs, heavy-duty trucks ...Read More >
(RTTNews) - Indian shares look set to extend recent losses on Friday after U.S. President Donald Trump announced a new round of tariffs, saying the United States will impose a 100 percent tariff on imported branded drugs, 25 percent tariff on imports of all heavy-duty trucks and 50 percent tariff on kitchen cabinets. Trump also said he would start charging a 30 percent tariff on upholstered furniture next week. Benchmark indexes Sensex and Nifty both fell around 0.7 percent on Thursday to exte ...Read More >
Bengaluru: The cabinet approved the Karnataka State Skill Development Policy-2025-32 aiming to position the state as a premier hub for skilled talent and drive its vision of becoming a $1 trillion economy within seven years. The policy, estimated to cost of Rs 4,432 crore, will draw Rs 1,386 crore from external aid, including the Asian Development Bank, and Rs 410 crore through public-private partnerships. Law and parliamentary affairs HK Patil, who briefed reporters on discussions at the cabine ...Read More >
Standard Chartered Bank, along with Clearing Corporation of India Ltd (CCIL) and International Financial Services Centre Authority (IFSCA) is set to open the dollar clearing facility in GIFT city on October 7, according P.D. Singh, chief executive officer (CEO) "The entire dollar clearing that is happening in Gift City right now will move to this platform and every bank that is there, foreign and Indian bank, will become a member of this dollar clearing. I think we have a large number of the ba ...Read More >
MUMBAI: Standard Chartered India CEO P D Singh sees the India-Middle East trade corridor as a promising one for adoption of rupee invoicing, even though it's a gradual shift. "It is picking up in Middle Eastern corridors and could expand in future, much like how Chinese yuan invoicing became common in solar equipment trade," he said, adding that the move was steady but not yet large-scale.Govt and RBI have been working on internationalisation of the rupee to protect forex reserves and ensure ene ...Read More >
NEW DELHI: EC on Thursday revised the rules relating to counting of postal ballots, making it mandatory for all postal ballot papers to be counted before the penultimate round of EVM/VVPATs counting is taken up.The new practice will be first implemented in Bihar where assembly polls are due in Nov.This restores the arrangement prior to May 2019, when EC had changed the guidelines to allow EVM counting to proceed regardless of postal ballot counting stage. The 2019 change did not rule out chances ...Read More >
Banswara: Prime Minister Narendra Modi on Thursday raised the pitch on "swadeshi" pride and energy future, while calling higher taxes prior to 2014 a Congress-era loot.After laying foundation stone for Rs 42,000-crore Mahi Banswara Atomic Power Project, comprising four indigenously designed 700MW reactors, PM Modi pushed for "swadeshi shopping", calling it a national duty."What we buy should be swadeshi, what we sell should be swadeshi. Every rupee spent on Indian goods stays in the country, str ...Read More >
Mumbai, Sep 24 (PTI) The rupee recovered 2 paise from its all-time closing low to settle at 88.71 (provisional) against the US dollar on Wednesday, as steep tariffs and H-1B visa related issues kept the domestic unit under pressure. Forex traders said rupee is hovering near its all-time low level on sustained foreign fund outflows amid investors' risk-aversion and trade policy uncertainty. Moreover, enhanced US tariffs on Indian goods as well as trade policy uncertainty exacerbated the rupee's ...Read More >
MUMBAI, Sept 24 (Reuters) - The Indian rupee ended nearly flat on Wednesday as likely intervention by the Reserve Bank of India helped stave off pressure on the local unit amid worries over steep U.S. tariffs and a visa fee hike. The rupee closed at 88.69 against the U.S. dollar, a whisker away from its all-time low of 88.7975 hit on Tuesday. Traders said that the central bank likely intervened across segments such as non-deliverable forwards (NDF), currency futures and the OTC spot market to ...Read More >
New Delhi, Sep 23 (PTI) Gold prices surged Rs 2,700 to scale a new peak of Rs 1,18,900 per 10 grams in the national capital amid sustained global demand for the safe-haven asset while rupee touching a new low facing the brunt of US H-1B visa fee hike. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity had closed at Rs 1,16,200 per 10 grams in the previous market session. In the local bullion market, gold of 99.5 per cent purity rallied Rs 2,650 to hit a rec ...Read More >
Mumbai: The rupee depreciated 47 paise to hit an all-time low of 88.75 (provisional) against the US dollar on Tuesday, amid sustained outflow of foreign funds on the back of a steep hike in US H-1B visa fee that is expected to give a big blow to Indian IT services exports. Forex traders said the rupee dwindled towards record low levels as market participants analysed the likely repercussions of the new USD 100,000 H-1B visa levy, which could precipitate a slowdown in remittance growth and curta ...Read More >
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