The rupee had slipped to a record low of 96.96 against the US dollar on May 20. According to market participants, repeated RBI intervention prevented the currency from breaching the psychologically important 97-per-dollar mark. After sustained intervention by the Reserve Bank of India’s (RBI) to support the rupee during a period of heightened volatility triggered…
Both commercial LPG and ATF are deregulated fuels and their prices are revised on the first of every month in line with international benchmark rates. NEW DELHI: State-run oil marketing companies on Wednesday cut the price of commercial LPG cylinders by Rs 183.5 and aviation turbine fuel (ATF) by Rs 5 per litre, as global…
Brent crude futures rose 33 cents, or 0.45%, to $73.28 a barrel, while US West Texas Intermediate (WTI) crude gained 34 cents, or 0.49%, to $69.84 a barrel. Crude oil prices rose on Wednesday as stalled talks between Iran and the US over a final agreement to end their conflict renewed concerns over crude supplies…
Jet fuel prices cut down by Rs 5 per litre to Rs 110 NEW DELHI: The central government cut down the jet fuel, or aviation turbine fuel (ATF), prices for domestic airlines by Rs 5 per litre on Wednesday following a decline in international crude oil prices, offering some relief to after weeks of elevated…
Donald Trump gains $1.4 billion from crypto (AP) US President Donald Trump’s latest financial disclosure has revealed a dramatic shift in the source of his wealth, with cryptocurrency emerging as the biggest contributor to his income.The annual disclosure filed with the US office of government ethics showed Trump reported more than $1.4 billion in income…
MUMBAI: :Gold loans continued to expand at a triple-digit pace in the 12 months up to May 2026, even as housing loan growth slowed to 10.9%, pulling overall personal loan growth down to 15.4% and leaving it trailing a 20% rise in services credit. The services sector increased its share of bank loans driven by…
MUMBAI: Bank of Baroda and Mizuho Bank have entered a strategic partnership to jointly pursue M&A financing, structured lending, and cross-border corporate banking, as deal activity and capital needs rise. The tie-up combines Mizuho’s global network and structured finance expertise with Bank of Baroda’s domestic franchise and corporate relationships. It comes after Mizuho acquired a…
MUMBAI: Commodity inflation driven by the West Asia war has been ‘significant’ in the June quarter and it will take a while for things to come to normalcy, said Nitin Paranjpe, chairman at Hindustan Unilever (HUL), projecting short-term growth to be hit by volatility and challenges. The conflict that dragged on for months disrupted energy…
MUMBAI: Banks’ bad loans, which are at a multi-decadal low, are expected to rise marginally to 1.9% by March 2028 under a baseline scenario from 1.8% in March 2026, even as capital ratios are projected to moderate over the same period according to RBI’s bi-annual Financial Stability Report. According to the macro stress test results…
MUMBAI: Kotak Mahindra Bank has agreed to acquire Deutsche Bank’s India retail, private banking and wealth business for Rs 282 crore, as a going concern on a slump sale basis . The deal will strengthen the bank’s affluent and SME franchise through an inorganic push, the bank said. The acquired portfolio comprises Rs 29,000 crore…