December 13, 2024December 13, 2024 According to RBI data, India’s foreign exchange reserves fell by $3.23 billion to $654.86 billion for the week ending 6th December 2024. India’s forex reserves dropped by $3.23 billion to $654.86 billion, down from $658.09 billion the previous week. The…
November 29, 2024November 29, 2024 Shares of Newgen Software Technologies Ltd jumped 4% in early trading after the Reserve Bank of India (RBI) ordered the company to install and maintain the Regulatory Application Management System (RAMS). After accounting for 18% GST, the order’s total value…
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,…
October 18, 2024October 18, 2024 Shares of Manappuram Finance crashed 17% on 18 October after the Reserve Bank of India (RBI) prohibited the company’s subsidiary Asirvad Microfinance and other NBFCs from disbursing loans. According to RBI, there were concerns regarding the pricing policy of these non-financial banking companies (NBFCs)…
August 31, 2024August 31, 2024 The UCO Bank said that they have been imposed a Rs 2.68 crore penalty from the Reserve Bank of India for contravention of certain provisions, which includes an opening of current accounts, frauds classifications, and interest rate on deposits. Moreover,…
Mumbai: India’s equity indices jumped over 3% on Wednesday, in a relief rally whiplash after the previous day’s 6% plunge that was triggered by the better-than-expected showing of the opposition alliance and the drop in the tally of the Bharatiya Janata Party (BJP) in the just-concluded generalelections.Stocks rebounded from oversold levels on growing expectations that…