Finance News

India’s GDP to grow at 6.2% in FY24, RBI to cut rate in Q1: Morgan Stanley The full reopening of the economy last year, cyclical recovery in consumption, increased private sector capex, and acceleration on government spending will contribute for 6.2 per cent growth in India’s gross domestic product (GDP) in FY24, said Morgan Stanley in a report. ...

Flows into NRI deposits jump 2.5x in April-February to $6.4 billion Flows into NRI deposits surge in April-Sept, but outstanding amount falling RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% RBI MPC: Here is what experts have to say about the policy announcement State Bank of India, IDBI Bank hike retail fixed deposit ...

India’s forex reserves up $1.65 bn to $586.4 bn, shows RBI data India’s foreign currency reserves rose by $ 1.65 billion to $586.41 billion in the week ended April 14, 2023. The rise in reserves in the reporting week was on account of a $ 2.2 billion accretion to currency reserves that took them to $516.6 billion, shows Reserve Bank ...

Remittances decline 23% sequentially to $2.1 billion in February Outward remittances in February under the Reserve Bank of India’s (RBI’s) liberalised remittance scheme (LRS) fell 23 per cent over January, latest data released by the central bank, in its monthly bulletin, revealed. In February, Indians remitted $2.1 billion under the RBI’s liberalised scheme. On a year-on-year (YoY) basis — ...

RBI paper sees enough signs of firming up disinflationary trends Defending the surprise unanimous pause in the April policy after a steep 250 bps hikes in six consecutive steps since May 2022, an RBI paper sees “enough early signs of disinflation firming up into a central tendency” — meaning going forward, more monetary policy actions may not be warranted. ...

Flows into NRI bank deposits in India top $6 bn mark in April 2022-Feb 2023 A further analysis indicated FCNR (B) deposits were $18.4 billion this February, marginally up from $18.2 billion in January The bank accounts of non-resident Indians (NRIs) held in the country received $6.4 billion during April 2022-February 2023, more than twice the $2.35 billion during the ...

RBI allows HDFC Bank to meet priority sector goal in 3 years post merger RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% RBI MPC: Here is what experts have to say about the policy announcement MPC lowers projection for inflation, raises growth outlook a bit in FY24 HDFC Bank shares fall post Q3 ...

A snapshot of personal loan rates offered by various banks with details SBI personal banking loan book up Rs-5 trn mark, helped by digital push How have the home loan EMIs changed since RBI’s repo rate hike in May 2022? CBI arrests Videocon Group founder Venugopal Dhoot in ICICI loan fraud case Pakistan, IMF fail to reach common ground on ...

Fund pick: DSP Equity Opportunities Fund Fund Pick: SBI Conservative Hybrid Fund is a consistent outperformer Fund Pick: Aditya Birla Sun Life Short Term Fund a consistent outperformer Fund pick: SBI Focused Equity Fund Fund pick: Nippon India Tax Saver Fund Fund pick: DSP Midcap Fund Ultra-rich Indians are now parking more money in gold: Knight Frank survey Jog, dance, ...

Fintech companies in talks to decide on rules for self-regulation Deeply influenced by the country’s ever-changing regulatory landscape, digital payment players are negotiating the formation of a self-regulatory organisation (SRO) to develop uniform rules and standards of operation for their industry, an Economic Times report said.   The Reserve Bank of India Governor Shaktikanta Das proposed the creation of ...