New Delhi, May 6 (IANS) The total number of establishments in the unincorporated non-agricultural sector increased substantially from 7.34 crore to 7.92 crore, representing a healthy 7.97 per cent growth and driving economic expansion, the government said on Wednesday.Among the broad sectors, the number of establishments in the ‘Other Services’ sector recorded a robust growth of 10.29 per cent, followed by a 6.48 per cent increase witnessed by the manufacturing sector and 6.18 per cent by tr…
Latest Commercial Banks News & Updates
New Delhi, May 4 (IANS) Indian banks are well positioned to implement the Reserve Bank of India’s new Expected Credit Loss (ECL) framework and absorb the initial impact on its capital, a report said on Monday.The report from CareEdge Ratings said that the sector’s strong Capital Adequacy Ratio of over 17 per cent and a Common Equity Tier I ratio exceeding 14.5 per cent, provide adequate room for the change.The ratings agency estimated that the impact of shifting to ECL models would be roughl…
New Delhi, March 31 (IANS) The Reserve Bank of India on Tuesday extended the enhanced export credit period of up to 450 days till June 30, 2026, to support exporters facing disruptions due to the ongoing West Asia crisis.The central bank said the decision was taken in view of continuing logistical challenges arising from geopolitical tensions in West Asia.Exporters have been facing delays in shipments and payments due to disruptions in global supply chains and uncertain market conditions.“Due …
New Delhi, March 30 (IANS) The Indian rupee opened higher by 1.3 per cent to reach 93.59 per US dollar on Monday over the Reserve Bank of India’s (RBI) restrictions on onshore position limits.The RBI has instructed banks to limit their net open positions in rupees in the foreign exchange market to $100 million, in a bid to curb speculative trading to cap decline in the Indian rupee.It ordered banks acting as authorised dealers to limit their end‑of‑day open positions in the onshore rupee t…
Seoul, Jan 18 (IANS) South Korea’s major commercial banks are stepping up efforts, alongside government foreign exchange authorities, to curb the local currency’s recent weakness, offering incentives for customers to sell U.S. dollars and lowering interest rates on foreign-currency deposits, officials said on Sunday.The won has hovered near the closely watched 1,450 won level against the U.S. dollar recently despite authorities’ verbal intervention and policy measures, pressured by broad dollar …