Welcome to a brand-new episode of ET Market Watch! Your daily dose of market updates, stock movements, trends & more. This is your host Neha V Mahajan, Let’s hear the top 5 highlights of the day 1. Indices Snap 5-Day Rally:– Sensex closed 56.74 points lower at 81,709.12– Nifty dropped 30.60 points to end at…
November 21, 2024November 21, 2024 The RBI stated in its monthly bulletin that India aims to keep its currency stable to safeguard the economy from global risks. They addressed criticism regarding its interventions in the foreign exchange market, stating these measures aim to prevent excessive rupee volatility. To manage…
November 11, 2024November 11, 2024 On Monday, the Reserve Bank of India issued a framework for reclassifying foreign portfolio investor (FPI) investments to foreign direct investment (FDI) if the entity exceeds the prescribed limit of 10% ownership in paid-up equity capital. If an FPI breaches the prescribed 10% limit,…
The Reserve Bank of India (RBI) lifted the restrictions imposed on JM Financial Products, a subsidiary of JM Financial. Earlier, the central bank had barred JM Financial Products from undertaking any form of business in shares and bonds funding due to regulatory violations and governance lapses. The restrictions which lasted more than ten months were…
Mumbai: The weighted average call rate, which indicates banks’ overnight cost of borrowing, closed at 6.68% on Monday, 18 basis points higher than the Reserve Bank of India’s current repo rate of 6.50%, despite surplus liquidity conditions in the banking system, money market dealers said. The WACR, which is the operating target of the RBI‘s…
August 9, 2024August 9, 2024 The RBI’s tougher or hawkish tone discouraged currency traders from betting against the rupee. The Indian currency is currently at its lowest value ever due to global uncertainty, although its decline has been gradual and slight. The Reserve Bank of India (RBI) kept its…
Forget the fading dream of a cashless society – a chailess one seems equally unlikely. But for India, the way that chai, or any other good or service, is paid for is undergoing a digital revolution. The Unified Payments Interface (UPI), a mobile app-based system, has become the go-to method for everything from splitting a…