Finance News

Rupee drops 37 paise against US dollar ahead of June monetary policy meet The rupee depreciated almost half a percentage point against the dollar on Monday, ahead of the June monetary policy review meeting and after the Opec-plus countries decided to cut supply. The Indian rupee closed at 82.68 a dollar as compared to the previous close of 82.31, ...

RBI Governor launches financial inclusion dashboard ‘Antardrishti’ RBI Governor Shaktikanta Das on Monday launched a financial inclusion dashboard named ‘Antardrishti’. The dashboard would, as its name suggests, provide the necessary knowledge to evaluate and track the development of financial inclusion by recording relevant data, according to a statement. First Published: Jun 05 2023 | 11:28 PM IST

Expected pause, surprise on stance? A positive growth surprise from the gross domestic product (GDP) data and a downside inflation surprise from the recent consumer price index (CPI) prints provide a touch of ‘Goldilocks’ in the backdrop of the June Monetary Policy Committee (MPC) meeting. The predictability quotient is high for the June MPC as there is near unanimity among ...

Liberty General Insurance sets up helpline to process claims Insurance provider Liberty General Insurance on Monday said it has set up a dedicated 24/7 helpline facility to serve the families of the victims who lost their lives in the Balasore train accident that left at least 275 people dead and 1,100 injured. Liberty General Insurance provides personal accident ...

RBI-appointed panel suggests host of customer-centric initiatives for banks An RBI-appointed panel on Monday recommended hosts of customer-centric initiatives for banks, including online settlement of claims by heirs of deceased account holders, flexibility for submission of life certificates by pensioners and a centralised KYC database. The report of the Committee for Review of Customer Service Standards in RBI ...

How to avoid TCS when your child goes abroad for higher education New Delhi: If you are planning to send your children overseas for higher education, you need not panic about the 20 per cent tax collected at source (TCS) rule, which will apply to other foreign remittances from July 1, 2023, as the finance ministry has clarified that the ...

Here are the money changes and PF deadlines for June 2023 Several regulatory changes are likely to impact your money management this month. Not only will your car insurance get more expensive this month, but you can also start investing for your child in mutual fund schemes from your own account rather than having to open a joint account for ...

Bank boards must hold mgmts accountable for their actions The boards of banks should hold the management accountable for its actions, and should replace it if it does not meet expectations, M Rajeshwar Rao, deputy governor of the Reserve Bank of India (RBI), said in an interaction with board members of banks. “Boards should appraise the performance of management ...

Are rising FD rates ending, and what should investors do? New Delhi: As banks have started accepting Rs 2,000 notes now that the currency has been withdrawn from circulation, the higher deposit base is likely to result in a temporary spurt in liquidity, which means the era of rising fixed deposit rates may be ending soon. Even the Reserve Bank ...

RBI deputy Guv urges banks to address gaps in governance framework M Rajeshwar Rao, Deputy Governor, RBI MUMBAI (Reuters) – The boards of Indian banks should address gaps in governance frameworks, including ensuring appropriate risk management practices and adhering to acceptable customer and market conduct, a deputy governor of the Reserve Bank of India (RBI) said in a speech ...