New Delhi, July 27 (IANS) India may receive FCNR (B) deposits in the range of $65-70 billion by the end of the RBI scheme on September 30, and overall $80-$85 billion, an SBI Research report said on Monday.The RBI figure of $20 billion inflows (till July 17) came as a positive reprieve, chiefly with a smart FCNR (B) corpus of $17.4 billion.“We now estimate that FCNR (B) since then has already crossed 2013 level of $26 billion in just 45 days,” said Dr. Soumya Kanti Ghosh, Group Chief Economi…
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Mumbai, July 23 (IANS) The Shiv Sena (UBT) on Thursday launched a scathing attack on the Centre, accusing it of patronising big corporate loan defaulters while enforcing harsh recovery mechanisms on poor and middle-class citizens.In an editorial in its mouthpiece, ‘Saamana’, the party said as per the official data provided by the Union Minister of State for Finance, Pankaj Chaudhary, in a written reply in the Lok Sabha, public sector banks have written off bad loans totaling Rs 7.75 lakh crore a…
New Delhi, July 21 (IANS) India’s installed renewable energy capacity has increased nearly fourfold, from 76.38 GW in 2014 to 288.58 GW as of June 30, 2026, according to information tabled in Parliament by the government on Tuesday. Solar power leads the country’s renewable energy segment with an installed capacity of 162.15 GW, followed by wind power at 57.44 GW and hydropower at 57.24 GW. The remaining 11.75 GW is accounted for by bio power, Minister of State for New & Renewable Energy…
Mumbai, July 15 (IANS) India’s benchmark equity indices ended in the green on Wednesday after a volatile trading session, with gains in banking and financial services stocks helping the markets overcome weakness in metal, information technology and realty shares.The Sensex rose 130.49 points, or 0.17 per cent, to settle at 77,185.43, while the Nifty advanced 26.45 points, or 0.11 per cent, to close at 24,074.85.Commenting on Nifty technical outlook, experts said that strong buying interest aroun…
Mumbai, July 14 (IANS) The Reserve Bank of India (RBI) on Tuesday held its half-yearly meetings with the Managing Directors and Chief Executive Officers of Public Sector Banks and select Private Sector Banks in Mumbai, with Governor Sanjay Malhotra calling on lenders to harness artificial intelligence (AI), strengthen cybersecurity and maintain a strong customer-centric approach.The meetings were chaired by the RBI Governor and attended by Deputy Governors Swaminathan J., Dr. Poonam Gupta, S. C….
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…
New Delhi, July 14 (IANS) Union Minister for Finance & Corporate Affairs Nirmala Sitharaman on Tuesday urged officer trainees of the Indian Corporate Law Service to “uphold the highest standards of integrity and professionalism, promote transparent, responsive governance, facilitate Ease of Doing Business and Ease of Living through simplified compliance.”FM Sitharaman interacted with Officer Trainees of the 2024 and 2025 batches of the Indian Corporate Law Service hereThe minister also “enco…
New Delhi, July 13 (IANS) The chiefs of public sector banks (PSBs) and financial institutions informed Finance Minister Nirmala Sitharaman on Monday that there was a strong response from NRIs to the higher interests rates and incentives that have been announced across foreign currency non-resident bank deposits FCNR (B) deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs) swap initiatives.The banks expect funds flowing in from NRIs to pick up further m…
New Delhi, July 10 (IANS) Petroleum Ministry on Friday said that with E20 blending, there may be a 3-5 per cent reduction in fuel economy in some vehicles, but mileage is only one parameter as E20 offers a significantly higher-octane rating, superior anti-knock characteristics, faster combustion, better pickup, smoother acceleration and cleaner engine operation.The ministry said that for E10 compatibility, manufacturers were consulted well in advance as early as 2020-21. India achieved its E10 t…
Mumbai, July 7 (IANS) The Central Bureau of Investigation (CBI) on Tuesday filed the first charge sheet in the Reliance Commercial Finance Ltd (RCFL) case against seven accused, including two Reliance Group companies, for causing a loss of Rs 4,097 crore to public sector banks, according to a statement issued by the investigative agency.The accused in the charge sheet, filed before the Special Judge for CBI cases, include Reliance Infrastructure Ltd and Reliance Home Finance Ltd (RHFL), and five…