Mumbai, July 14 (IANS) The Reserve Bank of India (RBI) on Tuesday said that Indian firms’ proposals to raise money under the external commercial borrowings (ECB) route saw a surge of 25.8 per cent (month-on-month) in May at over $4.73 billion.The central bank released the data on External Commercial Borrowings (ECB), Foreign Currency Convertible Bonds (FCCB), and Rupee Denominated Bonds (RDB), both through the automatic and the approval routes, for the month of May, and it shows that the ECB f…
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New Delhi, July 4 (IANS) Prime Minister Narendra Modi on Saturday said the e-Jagriti platform addresses multiple challenges by digitising the entire lifecycle of a consumer complaint.In a post on X, PM Modi shared an article written by Union Minister Pralhad Joshi on the e-Jagriti platform of the Department of Consumer Affairs.“He notes that, following extensive consultations with stakeholders, e-Jagriti has been refined, placing consumer justice among the sectors undergoing structural digital…
Mumbai, July 3 (IANS) Banks have registered a gradual increase in the flow of overseas funds after the rollout of the Reserve Bank of India’s (RBI) revised Foreign Currency Non-Resident Bank (FCNR-B) deposit scheme, and expect collections to accelerate further this month as awareness among NRIs is growing.The banking industry has mobilised an estimated $3-4 billion through FCNR-B deposits so far, according to an NDTV Profit report.Bankers expect inflows to gather pace in the coming weeks, partic…
Mumbai, June 11 (IANS) India’s top financial banking services providers — State Bank of India (SBI), Bank of India (BoI), and Yes Bank — have sharply raised interest rates on Foreign Currency Non-Resident (Bank) or FCNR(B) deposits following the Reserve Bank of India’s recent measures to attract foreign currency inflows, with lenders now offering Non-Resident Indians (NRIs) returns of up to 6.6 per cent on US dollar deposits.The banks have revised their FCNR(B) deposit rates, a significant inc…
Mumbai, June 7 (IANS) Indian equity markets are likely to remain volatile in the coming week as investors track escalating geopolitical tensions in West Asia, the Reserve Bank of India’s latest policy stance, persistent foreign fund outflows and rising US bond yields. The benchmark indices ended the previous week in negative territory, and analysts believe these developments could continue to influence market direction when trading resumes on Monday.The Indian stock market closed lower on Friday…
Mumbai, June 5 (IANS) Indian equity markets ended lower on Friday as investors reacted to the Monetary Policy Committee (MPC) decision and continued to assess global economic uncertainties.The benchmark indices closed lower, with the Nifty declining 49.85 points, or 0.21 per cent, to settle at 23,366.70. The Sensex also slipped 116.67 points, or 0.16 per cent, to close at 74,243.34.Commenting on Nifty technical outlook, experts said that the 23,450–23,550 region continues to serve as a key imm…
New Delhi, June 5 (IANS) The Indian rupee appreciated sharply against the US dollar on Friday after the Reserve Bank of India eased investment norms for foreign portfolio investors (FPIs) and announced measures aimed at improving capital flows, boosting investor sentiment.The domestic currency strengthened by 50 paise to 95.24 against the US dollar in intraday trade after opening at 95.72 in the interbank foreign exchange market. The currency had settled at 95.74 against the dollar in the previo…
Bengaluru, June 4 (IANS) Karnataka Chief Minister D.K. Shivakumar on Thursday announced that the state government will establish two separate ministries, one for Public Grievances and another for Non-Resident Indians (NRIs), to improve governance and address citizen concerns more effectively. The Chief Minister was speaking after chairing a high-level meeting with senior bureaucrats, including additional chief secretaries, principal secretaries, district in-charge secretaries, senior police offi…
New Delhi, May 16 (IANS) Prime Minister Narendra Modi on Saturday shared some glimpses from the remarkable welcome by the Indian community in the Netherlands. PM Modi took to social media ‘X’ and said, “Yesterday’s welcome by the Indian diaspora in the Netherlands was remarkable. The welcome included a dance performance covering Kathak, Odissi, Bharatanatyam, Kuchipudi and Mohiniyattam. It also included a Garba performance.”In another post, PM Modi said, “Sharing some more glimpses from the we…
The Hague, May 16 (IANS) Prime Minister Narendra Modi will hold bilateral talks with the Prime Minister of the Netherlands, Rob Jetten and will also meet King Willem-Alexander and Queen Maxima on Saturday as part of his official visit to the country.The Prime Minister is also expected to address the Indian community and interact with leading business leaders from the Netherlands during his stay. PM Modi will remain in the Netherlands till May 17. This marks his second visit to the country, with …