Finance News

RBI may need to buy $18 bn of bonds to replenish banking liquidity: ICICI By Subhadip Sircar and Saikat Das India’s central bank may buy as much as 1.5 trillion rupees ($18 billion) of government bonds to replenish banking liquidity that’s expected to tighten later in the year, according to a top banker.  The Reserve Bank of India may ...

Day 2 of Rs 2,000 note exchange has banks running out of cash for exchange Following the Reserve Bank of India’s (RBI) announcement on May 19, the Rs 2,000 currency notes are being withdrawn from circulation. As per the announcement, citizens have been asked to either deposit their notes into their bank accounts or exchange, up to Rs 20,000 at ...

India’s forex reserves at comfortable position to meet requirements: Goyal India has a strong foreign exchange reserve and the country is in a comfortable position to meet all the requirements even in any worst-case scenario in the next five-six years, Commerce and industry Minister Piyush Goyal said on Wednesday. India’s forex kitty jumped USD 3.553 billion to USD ...

War on inflation not over, we have to remain alert: RBI Guv Shaktikanta Das Although inflation has moderated of late, India’s fight against it is not over yet, and there is no room for complacency, Shaktikanta Das, governor of the Reserve Bank of India (RBI), said at an event on Wednesday. “The war on inflation is not over. We ...

India was close to printing Rs 10,000 notes in 2016: All you need to know India has already had Rs 10,000 notes as its highest denomination in the past

Single moms struggle with finances, experts advise brushing up on planning For Seema Kwatra, a 42-year-old schoolteacher in Delhi, planning her finances as a single mother has been anything but easy. She feels often stumped by unexpected expenses and overspending and, as a result, a lack of savings. Sheela (name changed on request), who has been a single mother ...

Withdrawal of Rs 2,000 to have favourable impact on deposits, says SBI An SBI study on Tuesday said the withdrawal of Rs 2000 currency note is likely to be a non-event but it will have a favourable bearing on liquidity, bank deposits and interest rates. The 131-day window to exchange junked 2000 rupee currency notes opened on Tuesday ...

Long queues in banks across Delhi as Rs 2,000 notes exchange begins As the process for exchange of Rs 2,000 currency notes began on Tuesday, long queues were observed at various bank branches in Delhi as customers eagerly exchanged the currency notes for smaller denominations. However, at some places, people alleged that the banks were asking them to ...

SBI General unveils ‘Surety Bond Bima’ for infrastructure projects SBI General Insurance, the non-life insurance arm of State Bank of India (SBI), on Tuesday announced the launch of the General Surety Bond Bima (Conditional & Unconditional)’ insurance product. Surety Bond Insurance will act as a security arrangement for infrastructure projects and will insulate the contractor as well as ...

HNIs embracing passive funds on under-performance of active funds High networth individuals (HNIs) are increasingly lapping up passive funds, with their exchange-traded fund asset base registering a 66 per cent growth to Rs 34,000 crore in 2022-23, according to a report on Tuesday. HNIs are informed investors, and hence, use platforms that allow direct investing in passive funds. ...