New Delhi, April 17 (IANS) The Union Government on Friday allowed 15 major banks, including State Bank of India, HDFC Bank, and ICICI Bank, to import gold and silver from April 1, 2026, to March 31, 2029. The Union Bank of India and Sberbank have been authorised to import only gold during this period.The notification has been issued by the Directorate General of Foreign Trade (DGFT).The move is part of the government’s ongoing effort to streamline bullion imports and ensure they are routed thr…
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New Delhi, March 30 (IANS) Finance hub GIFT City on Monday announced that banking assets at its International Financial Services Centre have crossed $106.7 billion as of February 2026, marking over seven‑fold surge from $14 billion in September 2020.The huge surge indicated a rapid scale‑up of India’s offshore banking ecosystem and reflected increasing global and domestic participation in India’s international financial services ecosystem, it said.The growth has been supported by an expa…
Mumbai, March 3 (IANS) Jio Platforms Limited on Tuesday announced the appointment of Dan Bailey as its new President, as the company prepares to expand its business beyond India.He will lead the company’s international business initiatives and will be based in London.Dan Bailey will report to Akash Ambani, Chairman of Reliance Jio Infocomm Limited. He will also join the Executive Committee of Jio Platforms and contribute to the company’s broader strategy.Bailey brings more than 35 years of e…
New Delhi, Jan 2 (IANS) An Inter-Departmental Committee, headed by the Union Secretary, Financial Services, M. Nagaraju, met here on Friday to consider the proposals of foreign banks wanting to set up branches in India.The meeting was attended by officials of the member ministries, including Home Affairs and External Affairs, as well as the Department of Commerce and the Reserve Bank of India (RBI).The meeting was convened to consider proposals received from the RBI in respect of foreign banks k…
Mumbai, Dec 25 (IANS) In a year marked by heightened global uncertainty, precious metals delivered exceptional returns for investors, with silver emerging as a surprise winner.Silver prices surged by more than 137 per cent — outperforming gold — which also posted a strong gain of around 68 per cent this year.With equity markets facing volatility, both metals strengthened their position as preferred safe investment options, but silver clearly outshone all traditional choices.Gold’s strong per…