Sikkim govt to create fixed deposits of Rs 10,800 in name of newborns Sikkim Chief Minister Prem Singh Tamang on Monday announced a new scheme under which the government will make a fixed deposit of Rs 10,800 in the name of a newborn. Addressing the ‘Jan Bharosa Sammelan’ in Soreng district, Tamang announced the ‘Sikkim Sishu Samriddhi Yojana’ ahead of ...

RBI lifting curbs on forex non-deliverable forward arbitrage by banks Arbitrage trades allow investors to benefit from the price differences of securities in different markets but can exaggerate price trends

Rupee appreciates 2 paise to 82.89 against US dollar in early trade The rupee appreciated 2 paise to 82.89 against the US dollar in early trade on Monday on the back of foreign funds inflow and retreating crude oil prices in the overseas market. Forex traders said subdued equity market sentiment and strengthening American currency weighed on the domestic unit. ...

25% urban Indians have no life insurance, GenZ least secure financially: Survey [ad_1] Despite high awareness, term plan ownership is low among urban Indians, shows a Max Life Insurance survey. The Max Life Insurance India Protection Quotient 6 survey was done in partnership with Kantar. The survey was conducted among 4,700 urban Indians across 25 cities. IPQ is the degree ...

Modi-govt focussed on innovation, tech development: Nirmala Sitharaman She inaugurated the fifth campus of BITS Pilani in Mumbai, spread over 63 acres and with an investment of Rs 1,500 crore

When to alter asset allocation [ad_1] We were going through our portfolio, as it happens before filing income tax and deciding what we shall do for next year. I proposed that we modify the asset allocation towards debt. After 33 long years. “Did it not change with asset class performance,” asked the husband. “Yes, it did, but we did not ...

Use of AI can prevent stressed assets: IMF ED Krishnamurthy Subramanian Subramanian said India should follow the global practice where the bourses and the regulator need to be informed when there is a violation of a technical covenant

RBI allows banks, non-banks to issue PPIs for public transport systems The regulator amended guidelines for prepaid payment instruments for mass transit systems (PPI-MTS). It said such PPIs can be issued without Know Your Customer (KYC) verification of the holders

RBI receives bids worth Rs 2.08 trillion at the 13-day VRR auction Despite the slew of VRR auctions being conducted by the RBI since February 8, the persistent liquidity deficit in the banking system has been largely around Rs 2 trillion during the period

RBI allows prepaid wallets, cards without KYC, to pay for rail, metro, bus, toll, parking; how it works [ad_1] The Reserve Bank of India (RBI) announced that it will now allow licenced bank and non-bank Prepaid Payment Instrument (PPI) issuers to issue PPIs for payments across different public transport networks without KYC. Metro, bus, train, waterways, tolls, and parking services ...