Finance News

India’s forex reserves rise for third straight week, hits 6-month high India’s foreign exchange reserves rose above a six-month high of $576.76 billion in the week through Jan. 27, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday. This is the third consecutive week that the country’s reserves have risen. In the week ...

Budget 2023 focuses on promoting growth with inclusion: NITI Aayog CEO NITI Aayog CEO Parameswaran Iyer on Friday described the Budget 2023-24 as ‘very comprehensive and balanced’ which will promote growth with inclusion. He also observed that the Budget continues all the reforms and other social welfare programmes undertaken by the government over the past ...

Rupee gains 12 paise to 82.08 against US dollar on easing crude oil prices The rupee gained 12 paise to 82.08 against the US dollar in early trade on Friday supported by easing crude oil prices and a positive trend in domestic equities. Forex traders said significant foreign fund outflows and dollar demand from importers ...

Rupee poised for muted opening on dollar recovery, equity outflows By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is likely to open little changed to the U.S. currency on Friday in the wake of the dollar’s recovery and worries over equity outflows. The non-deliverable forwards indicated an opening of around 82.12-82.20 for the ...

SBI gave loans worth $2.6 billion to Adani group companies, says report State Bank of India, the country’s largest financier, has given loans of as much as $2.6 billion to companies in the Adani conglomerate, or about half of what is allowed under rules, according to a person familiar with the matter. SBI’s exposure includes ...

Aditya Birla Capital’s Q3 net up 27% YoY as retail, SME lending grows Aditya Birla Capital (ABCL) on Thursday said its consolidated net profit increased 27 per cent on a year-on-year (YoY) basis to Rs 530 crore for the quarter ended December 2022 (Q3 FY23). The financial services company, which has lending, mutual fund, life ...

Rupee closes at 82.20 against US dollar amid foreign fund outflows The rupee fell 40 paise to close below the 82 per US dollar mark on Thursday, weighed down by foreign fund outflows and corporate dollar demand. At the interbank foreign exchange market, the rupee opened at 81.81 against the greenback, and touched an intra-day ...

Euro hits 10-month-high on dollar as central banks chart divergent courses By Rae Wee and Alun John SINGAPORE/LONDON (Reuters) – The euro sat at a 10-month high against the dollar on Thursday, ahead of a European Central Bank meeting at which markets expect a half-percentage point rate increase, a day after the U.S. Federal Reserve ...

Budget effect: About 15% premium impact on some private life insurers Finance Minister Nirmala Sitharaman’s Budget proposals have dealt double whammy for the life insurers and it would affect the topline growth of some private players, said Emkay Global Financial Services. In a research report, Emkay Global’s insurance sector analysts Avinash Singh and Mahek Shah ...

Rupee likely to open higher after Fed rate hike, local equities in focus By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee is expected to open stronger on Thursday, as markets perceived the U.S. Federal Reserve to be a bit dovish, with investors keeping an eye on domestic equities after late developments in the Adani ...