Rupee vs Dollar: Rupee records best one-day rise against US dollar in nearly 4 months The rupee strengthened sharply against the US dollar on Friday, registering its sharpest single-day rise since November 11, as overseas investors sold the greenback, largely for investment in Adani group shares, dealers said. An easing in the US dollar index ...

Foreign exchange reserves fall $325 million in a week to $560.94 billion The Reserve Bank of India’s (RBI’s) foreign exchange reserves declined by $325 million to $560.94 billion in the week ended February 24, latest central bank data showed. The slight fall in the reserves — for the fourth week in a row — was ...

PNB makes Positive Pay System must for cheques worth more than Rs 5 lakh In a move to safeguard customers from fraudulent payment of cheques, state-owned Punjab National Bank (PNB) has made the Positive Pay System (PPS) compulsory for cheque payments worth Rs 5 lakh and above. This will come into effect from April 5, ...

Rupee rises 36 paise to 82.24 against US dollar on foreign fund inflows The rupee gained 36 paise to 82.24 against the US dollar in early trade on Friday as fresh foreign fund inflows and a positive trend in domestic equities strengthened investor sentiments. At the interbank foreign exchange, the domestic unit opened at 82.28 ...

union budget 2023: Budget 2023: Indian shadow lenders call for rescue route from cumbersome compliance maze [ad_1] Non-Banking Financial Companies in India are finding it difficult to adhere to the compliance obligations set by the Reserve Bank of India (RBI). The forthcoming Budget, scheduled to be announced on February 1, 2023, may address the issues, including the lack of an ...

Finance Ministry exhorts banks to achieve targets of social security schemes for FY’23 [ad_1] The Finance Ministry on Thursday asked banks to achieve targets given under the flagship financial inclusion and social security schemes for the current financial year. The advisory was given to heads of public sector banks (PSBs) and financial institutions during the review meeting headed by Financial ...

10 new mutual fund offers or NFOs currently open. Should you invest? [ad_1] Mutual fund houses have been busy launching new schemes lately. The buzz has caught the attention of many investors, too. At least 10 new fund offers or NFOs are open for subscription in the market. Four fixed maturity plans (FMPs), three gilt funds, MNC fund, dividend yield ...

Exemption-less income tax regime under review, could see changes this Budget [ad_1] Less than half a million taxpayers have opted for the new exemption-less income tax regime since its rollout, prompting a review to see if measures are needed in the budget to promote its adoption, people familiar with the matter said. About 75.2 million income tax returns have been ...

Yes Bank AT-1 bonds case: ET explainer: Yes Bank and the AT-1 bonds saga, what next for investors? [ad_1] In what came as a positive development for retail investors, the Bombay High Court last week invalidated the write-off of additional Tier-1 (AT1) bonds issued by private lender Yes Bank. Its CEO Prashant Kumar on Saturday said that the company has ...

UPI Payments: In-bound travellers visiting India can now make local payments using UPI [ad_1] In-bound travellers visiting India can now make local payments using UPI while they are in the country, the Reserve Bank said. “Travellers visiting India can now experience the convenience of UPI payments at over five crore merchant outlets across India, that accept QR Code-based UPI payments,” ...