Prime Minister Narendra Modi on Saturday met members of the Economic Advisory Council (EAC) to the Prime Minister, with discussions focused on ideas and measures to further strengthen the country’s economic growth amid ongoing global uncertainty. The meeting covered reforms aimed towards improving ease of living and ease of doing business. The PM and EAC-PM…
MUMBAI: RBI has proposed tighter disclosure norms for deposit interest rates while allowing banks to price large deposits based on withdrawal risk, which will be a fourth factor for differential rates. Until now banks were allowed to offer differential rates based on tenor, size, and premature withdrawal conditions. These determine whether deposits qualify as bulk…
MUMBAI: Bonds rallied after govt and RBI announced measures to encourage foreign investment in govt securities on Friday. The yields on benchmark 10-year govt securities (G-Secs) softened to 6.94% in early trades, from 6.99% on Thursday, after the govt said foreign portfolio investors (FPIs) would be exempted from long-term capital gains and withholding taxes on…
MUMBAI: Caught between a slowing economy and the risk of a fresh price spiral triggered by the conflict in West Asia, the RBI on Friday left the repo rate unchanged at 5.25%, cut its growth forecast for FY27 and raised its inflation projections, while signalling that the inflation threat could broaden economy-wide beyond fuel and…
MUMBAI: Mutual fund (MF) houses are restricting large inflows into gold exchange traded funds (ETFs) and fund of funds (FoFs) feeding into such schemes in order to align with govt’s recent policy of discouraging people from buying gold.Three large fund houses–HDFC MF, ICICI Prudential MF and Nippon India MF–have restricted large inflows into gold funds….
The US Treasury Department‘s financial crimes unit has asked banks to watch for signs of identity theft, payroll tax fraud and money laundering linked to the employment of people living in the country illegally, marking the latest step in President Donald Trump’s immigration crackdown, AP reported.The Financial Crimes Enforcement Network (FinCEN) on Friday issued an…
Foreign portfolio investment (FPI) debt inflows have accounted for 62 per cent of cumulative equity inflows into India since FY 1998-99, marking the growing importance of the country’s debt market in attracting foreign capital, according to a report by DSP Mutual Fund. India has received $95.5 billion in FPI debt inflows in about 28 years,…
New Delhi: Govt will have to look at not only reducing price of high-ethanol blended petrol and pure ethanol, but also the cost of flex fuel vehicles (FFVs), which would be using the fuel, to create a high demand among consumers, experts said, acknowledging that current 20% blending has helped save India approximately 4.5 crore…
The rupee surged 56 paise to 95.18 against the US dollar following RBI’s measures to attract foreign capital and boost forex liquidity. These policy announcements, including expanding the Fully Accessible Route and removing taxes on foreign investment in G-Secs, improved investor sentiment. Analysts expect further appreciation if oil prices remain below $100 a barrel. The…
Union minister Pralhad Joshi (File photo) NEW DELHI: More than 75 lakh households will be powered by rooftop solar systems installed under PM Surya Ghar Muft Bijli Yojana by Dec, minister for new and renewable energy Pralhad Joshi said on Thursday.“PM Surya Ghar Muft Bijli Yojana is transforming India’s energy landscape at an unprecedented pace….