RBI

India’s Balance Of Payment Likely To Fall Short 

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  

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 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 

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…

India Becomes World’s 5th Largest Economy- Beats The UK 

India Becomes World’s 5th Largest Economy- Beats The UK 

India has left behind the United Kingdom to become the world’s 5th largest economy.  As per IMF projections, India is now following only the United States, China, Japan, and Germany in terms of economy.  A decade ago, India was ranked 11th position among the largest economies, while the United Kingdom ranked on fifth place. With…

Piyush Goyal Will Head The Board Of Trade Meeting Next Month

Piyush Goyal Will Head The Board Of Trade Meeting Next Month

Union Commerce and Industry Minister Piyush Goyal will chair a Board Of Trade meeting in the forthcoming month to find out how to raise India’s exports, an authorised person said. The respected board is an advisory body formed to look after the foreign trade policy of India.  The Board meeting will be headed by Piyush…

Unity Small Finance Bank Names Inderjit Camotra As New MD and CEO 

Unity Small Finance Bank Names Inderjit Camotra As New MD and CEO 

Unity Small Finance Bank Limited announced the appointment of a new managing director and chief executive officer on Friday. The bank names Inderjit Camotra for this significant role.  Inderjit Camotra is a senior banker with over 25 years of experience across India’s banking sector. He held various leadership positions at Standard Chartered Bank, ANZ, and…

RBI’s MPC Meeting Update – Repo Rate Hiked By 50 bps

RBI’s MPC Meeting Update – Repo Rate Hiked By 50 bps

The Reserve Bank Of India (RBI) has increased the repo rate by 50 basis points to 4.90%. The decision has been made after Monetary Policy Committee’s meeting on Wednesday. RBI’s decision is not a stunner as many polls and economists were expecting a 40 basis point hike. RBI has reduced the repo rate in March…

RBI Raised Repo Rate By 40 bps: How It Will Affect

RBI Raised Repo Rate By 40 bps: How It Will Affect

RBI (Reserve Bank of India) on Wednesday, raised its key lending rate by 40 basis points to 4.40% with immediate effect after the emergency meeting. Along with this, the Central Bank also announced a hike in the cash reserve ratio by 50 basis points. The decision was taken by the Monetary Policy Company (MPC) in…

RBI Discussing Digital Lending Guidelines With Industry Bodies

RBI Discussing Digital Lending Guidelines With Industry Bodies

The Reserve Bank of India is involved in discussions with digital lending and consumer associations as it is on the way to finalising the guidelines on digital lending. The RBI has held a meeting with the Digital Lenders Association on India (DLAI) and the Fintech Association for Consumers Empowerment (FACE) on this matter and there…

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