Finance News

Rupee opens higher at 79.25 vs dollar as US inflation concerns ease The Indian rupee opened higher against the dollar on Thursday as a decline in the U.S. inflation rate boosted Asian currencies, lifting risk appetite. The rupee was trading at 79.25 per U.S. dollar by 0333 GMT, up from 79.52 in the previous session. **Asian ...

Monetary policy: Negative interest rates are a matter of concern, says RBI After the MPC’s decision to hike repo rate by 50 basis point (bps) to 5.4 per cent, Governor Shaktikanta Das, Deputy Governors Michael Patra, MK Jain, T Rabi Sankar, and M Rajeshwar Rao spoke to the media. Edited excerpts: The rate hikes have been sharp ...

Banks can’t rely on RBI money ‘perennially’ for credit demand: Governor Das Banks cannot always rely on the central bank’s money and they must mobilise deposits to fund credit offtake in the economy, said RBI governor Shaktikanta Das on Friday. His statement comes as the gap between credit and deposit growth is widening. There are concerns that ...

NRIs can now pay utility bills through Bharat Bill Payment System Non-resident Indians (NRIs) will now be able to make utility bill payments for their family in India as the Reserve Bank of India (RBI) on Friday proposed to enable Bharat Bill Payment System (BBPS) to accept cross-border inward payments. BBPS, owned and operated by the National ...

RBI stays hawkish in fight against inflation; MPC reverses Covid-era cuts The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday hiked the policy repo rate by 50 basis points to 5.4 per cent — a three-year high —owing to inflation concern and to shield the exchange rate, which has come under pressure since ...

Time for measured RBI monetary policy moves: What prompted the rate hike The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday hiked the policy repo rate by 50 basis points to 5.4 per cent — a three-year high —owing to inflation concern and to shield the exchange rate, which has come under pressure ...

Monetary policy review: Economists see repo rate climbing to around 6% The Reserve Bank of India (RBI) is likely to increase the repo rate by almost 60 basis points more, taking it close to 6 per cent, before holding off on further policy tightening in the current cycle, economists told Business Standard. According to the median of ...

Bank of Baroda to raise Rs 1,000 cr via infrastructure & affordable housing bonds Bank of Baroda, the second largest state-owned bank, is planning to raise Rs 1,000 crore through issuance of infrastructure and affordable housing bonds on August 12, a source close to the development told IANS. “The likely tenure for the bonds is seven years ...

CoinSwitch launches $10 mn fund to support start-ups, blockchain tech Indian crypto company CoinSwitch has launched a $10 million venture capital fund for investments in early-stage start-ups and building blockchain solutions. The Web3 Discovery Fund will curate portfolio start-ups and provide single-window access to investor partners Tiger Global, Ribbit Capital, Coinbase Ventures, Sequoia Capital India, Woodstock Fund, ...

Bank credit grows 14.5% YoY as on July 29, deposits grow 9.1%: RBI data   Bank credit grew 14.5 per cent year-on-year as on July 29, outstripping 14 per cent year-on-year growth as on July 15, latest data released by the Reserve Bank of India showed.   As on July 29, banks’ outstanding loans were at Rs 123.69 trillion, 0.7 ...