NEW DELHI: Govt has extended the tenure of chief economic adviser V Anantha Nageswaran up to March 2027, ruling him out of the race for Reserve Bank of India deputy governor and opening the doors for outside economists to take up the assignment after Michael Patra’s departure from Mint Road.Nageswaran, who joined the finance ministry three years ago, will be …
Read More »
NEW DELHI: Direct overseas investment into India dipped marginally to $18.5 billion during April-Dec 2024, compared with $18.8 billion during the first nine months of the previous fiscal year, as overseas companies significantly stepped up repatriation from the country.Latest data released by the Reserve Bank of India (RBI) showed that during April-Dec, repatriations or disinvestment from India shot up by …
Read More »
NEW DELHI: India’s foreign exchange reserve recorded a major boost, rising $7.654 billion to reach $638.261 billion in the week ending February 7, Reserve Bank of India (RBI) reported on Friday. This rise marks the third consecutive weekly increase, following a $1.05 billion rise in the previous week, when reserves stood at $630.607 billion on January 31.The surge comes after …
Read More »
Are banks open on March 31, 2025? March 2025 bank holidays: RBI has directed all agency banks handling government transactions to remain operational on March 31, 2025 (Monday), despite it being a holiday in several states. This measure ensures accurate financial reporting for FY 2024-25 by recording all transactions within the same period.According to an ET report, previously, March 31, …
Read More »
NEW DELHI: Retail inflation eased to a five-month low in January as vegetable prices moderated, bringing much-needed relief to authorities battling stubborn price pressures, while industrial output growth slowed, led by a sluggish manufacturing sector. Data released by the National Statistical Office (NSO) on Wednesday showed retail inflation, as measured by the consumer price index (CPI), rose an annual 4.3% …
Read More »
RBI governor Sanjay Malhotra The Reserve Bank of India (RBI) has announced a cut in its key repo rate by 25 basis points to 6.25%, marking the first rate cut in nearly five years. The decision, which was made at the conclusion of the Monetary Policy Committee (MPC) meeting held from February 5-7, is expected to bring down loan EMIs …
Read More »
NEW DELHI: India’s foreign exchange reserves have dropped for the sixth straight week, reaching a ten-month low of $625.87 billion as of 10 January, according to data from the Reserve Bank of India (RBI). This marks a decline of $8.72 billion against the previous week, continuing the slump from the all-time high of $704.89 billion recorded in September.The drop in …
Read More »
NEW DELHI: The International Monetary Fund (IMF) on Friday retained India’s growth forecast for 2024-25 at 6.5% but said that growth in the country has slowed more than predicted, led by a sharper-than-expected deceleration in industrial activity.“In India, growth is projected to be solid at 6.5% in 2025 and 2026, as projected in Oct and in line with potential,” the …
Read More »
NEW DELHI: In November 2024, central banks globally added a combined total of 53 tonnes of gold to their reserves, with the Reserve Bank of India (RBI) contributing 8 tonnes, according to the World Gold Council (WGC). In 2024, central banks, particularly those from emerging markets, continued to be avid buyers of gold, to achieve a stable and secure asset …
Read More »
NEW DELHI: India’s foreign exchange reserves declined by $4.112 billion to $640.279 billion for the week ending December 27,according to the Reserve Bank of India (RBI) on Friday.This follows a previous decline of $8.478 billion, bringing the total to $644.391 billion, in last week ending on December 20.Recent weeks have shown a consistent decrease in reserves, primarily due to revaluation …
Read More »
Unews World