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The Reserve Bank of India (RBI) on Friday, May 19, declared that the ₹2000 note will be withdrawn from circulation but will continue to be legal tender.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…
Yash Sharma
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…
Aman Goyal
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. …
Shipra Prajapati
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…
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…
Abdullah Ansari
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
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 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
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…
