Finance News

Forex reserves dip $1.5 bn to $575.27 bn on depletion in currency assets The Reserve Bank of India’s foreign exchange reserves declined by $1.5 billion to $575.27 billion in the week ended February 3, latest central bank data showed. The drop in the RBI’s reserves was largely on account of a decline in the central ...

How have the home loan EMIs changed since RBI’s repo rate hike in May 2022? On Wednesday, the Reserve Bank of India (RBI) increased the repo rate by 25 basis points, taking it to 6.5 per cent. Since May 2022, the repo rate has been hiked by 250 basis points. One basis point stands for 0.01 per ...

Rupee falls 12 paise to 82.63 against US dollar on strong greenback The rupee depreciated 12 paise to 82.63 against the US dollar in early trade on Friday as a lacklustre trend in domestic equities and a strong greenback in the overseas markets dented investor sentiments. Besides, sustained foreign fund outflows and elevated crude oil ...

2023 is for complete rollout of Digital Credit System: Ashwini Vaishnaw Union Minister for Electronic and Information Technology Ashwini Vaishnaw on Thursday said that the government’s major focus would be on the complete rollout of the Digital Credit System this year. “In 2023, a major focus would be on the complete rollout of the Digital ...

As China battles crises, HSBC bets big on India’s $400 bn pile of wealth “Roaring with national pride. Soaring with global dreams,” blared the HSBC Holdings Plc ad outside an upscale Mumbai suburb in December. The 122-foot billboard displayed a tiger stalking over the British bank’s hexagonal red logo — a not-too-subtle signal of its ambitions to ...

PNB, BoB raise lending rates by up to 25 bps following RBI rate hike Leading public sector lenders Punjab National Bank (PNB) and Bank of Baroda (BoB) have raised their lending rates by up to 25 basis points following the interest rate hike by Reserve Bank earlier this week. PNB in a regulatory filing said ...

Kotak Mahindra Bank, Central Bank of India revise interest rates Kotak Mahindra Bank increased select deposit rates by up to 25 basis points

No updated tax return after facing searches by I-T department Persons and entities who have faced search or survey proceedings by the income tax department “in any previous year” will no longer be allowed to file updated tax returns. Earlier, it was proposed that an updated tax return cannot be filed, in case of search ...

Debt talks in focus at G20 finance meet: FM Sitharaman tells IMF chief Indian Finance Minister Nirmala Sitharaman and IMF’s Kristalina Georgieva also discussed regulating crypto assets

RBI resumes repo ops after 5 months as LTRO maturities lined up The Reserve Bank of India (RBI) on Thursday said it would conduct a 14-day variable rate repo auction worth Rs 50,000 crore on February 10. This will be the first repo auction by the central bank since September 22, 2022. The reversal of ...