Global Slowdown Signals India’s Growth Dip – Says Jahangir Aziz
According to Jahangir Aziz, head of emerging market economics at JP Morgan, the Indian economy may experience a slowdown in the second half of the year due to a global economic slowdown. However, he believes that this particular slowdown is essential to maintain financial stability and macroeconomics. He mentioned in an interview with the Economic…
Monika Gola
RIL Receives RBI Approval to Retain Extra $2 Billion from Lenders
Reliance Industries Limited, India’s largest conglomerate, has been granted approval by the RBI to retain an additional $2 billion from its lenders. This move by the RBI comes as a significant boost to RIL’s financial flexibility and underscores the company’s strong position in the Indian market. The approval allows RIL to retain the surplus funds…
India’s Digital Revolution: RBI Aims For 1M CBDC Users
In a bold move towards advancing India’s digital transformation, the Reserve Bank of India (RBI) is setting its sights on reaching one million Central Bank Digital Currency (CBDC) users by the end of this month. The Deputy Governor of RBI, alongside other key officials, announced this ambitious target as part of their commitment to fostering…
Shipra Prajapati
Withdrawal Of Highest Currency Note: Know The Impacts
The Reserve Bank of India (RBI) on Friday, May 19, declared that the ₹2000 note will be withdrawn from circulation but will continue to be legal tender. However, this is not a demonetisation exercise; instead, it will remain legal tender, and the people can deposit or exchange their ₹2000 notes until September 30, 2023. It…
RBI May Cut Dividend To Govt. Due To High-Interest Cost
Rbi Records The Lowest Surplus Transfer To The Government Of Rs.30,307 Crore In FY2022 As Compared To FY2021- The Indian Express The Reserve Bank Of India (RBI) is planning to cut the dividend to government due to the high-interest cost. During FY2022, RBI transferred the lowest surplus funds of Rs 30,307 crore to the government…
Roopa
YES Bank Re-enters The Top 100 Most Valued Firms List
YES Bank re-entered the top 100 most valued companies list in terms of market capitalisation (market-cap). It is because the stock of private sector lenders zoomed 30% in the past three days after the Reserve Bank of India (RBI) agreed to raise capital from funds affiliated with global private equity investors Carlyle and Advent International. …
India’s Balance Of Payment Likely To Fall Short
An internal assessment by the Ministry of Finance indicates that India’s balance of payment is likely to fall short, up to $50 billion in the financial year of 2022-23. The rupee might continue to decline against the US dollar because of foreign exchange outflow, but the Center is confident that it will manage the deficit…
Pakistani Rupee Emerges As The Best Performing Currency
Last week, the unstable Pakistani currency, Rupee (PKR), became the best-performing currency in the world. The PKR made the biggest gain of 3.9 % to reach 219.92 rupees against the US dollar in anticipation of substantial foreign currency inflows. The Express Tribune states, “The rupee remained the best performing currency on a week-on-week basis.” The…
Global Forex Reserves See A Record Decline Of $1 Trillion
Global foreign-currency reserves are declining rapidly as the central banks of India and the Czech Republic step in to support their currencies. This year reserves have fallen by around 7.8% ($1 trillion). It is the biggest decline since Bloomberg began gathering data. Valuation changes have contributed significantly to this downturn. The dollar’s rise to two-decade…
Rupee Hits The Record Low, Approaches Towards 82 Per Dollar
The Rupee hit a record low when the Indian currency edges closer to 82 levels against the US dollar. The rupee fell to 81.90 versus the US dollar as US bond rates rose and the US currency strengthened. The rupee finished 14 paise higher at 81.53 against the US dollar on Tuesday after hitting a…
abhinav singh