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…
Latest RBI News & Updates
Mumbai, April 16 (IANS) The Reserve Bank of India (RBI) on Thursday announced it will conduct a Rs 2 lakh crore seven-day variable rate reverse repo (VRRR) auction on April 17 to manage surplus liquidity in the banking system.In a notification, the central bank said the decision comes in view of the prevailing transient surplus liquidity conditions.The auction will be held between 9:30 am and 10:00 am on Friday, with funds scheduled to be reversed on April 24.The move is aimed at absorbing exces…
New Delhi, April 16 (IANS) The Supreme Court on Thursday refused to interfere with the Bombay High Court’s order vacating the interim protection granted to industrialist Anil Ambani against the classification of his loan accounts as “fraudulent” by lender banks under the Reserve Bank of India’s 2024 Master Directions. A Bench of Chief Justice of India (CJI) Surya Kant and Justices Joymalya Bagchi and Vipul Pancholi dismissed Ambani’s petitions challenging the Bombay High Court’s division ben…
New Delhi, April 16 (IANS) Indian households have between 11–16 per cent of all the gold ever mined above ground, more than the combined national reserves of the United States, Germany, Italy and Russia, a report said on Thursday, ahead of Akshaya Tritiya on April 19.Recent price swings after nomination of Kevin Warsh as US Federal Reserve only show a short‑term correction and structural demand persist, digital investment platform InCred Money said in a note.The note said that one in every t…
Mumbai, April 15 (IANS) Shares of Ujjivan Small Finance Bank fell sharply on Wednesday after the Reserve Bank of India returned its application for a universal banking licence, even as the broader market traded higher.The stock dropped as much as 5.94 per cent to hit an intra-day low of Rs 56.75 on the Bombay Stock Exchange (BSE), compared to its previous close of Rs 60.34.The decline came in contrast to the positive trend in the wider market, with the Sensex rising over 1.6 per cent amid improv…
New Delhi, April 13 (IANS) India’s economy is in a structurally resilient expansionary phase, and markets could deliver returns above long‑term averages as valuations are favourable, a report said on Monday.The report from investment management firm OmniScience Capital said the economy is in a goldilocks phase with high real gross value added (GVA) growth of 7–8 per cent with inflation anchored within the Reserve Bank of India’s target band.The recent market correction of around 13 per c…
Mumbai, April 12 (IANS) The Indian stock markets witnessed a strong rebound last week after six consecutive weeks of decline, supported by favourable global cues, according to analysts.Sentiment remained buoyant amid optimism surrounding a temporary US–Iran ceasefire, although lingering geopolitical uncertainties capped the pace of gains as the week progressed. “The rally was further aided by a stable domestic macro backdrop, with broader markets outperforming the benchmarks. Despite elevate…
Mumbai, April 10 (IANS) India’s foreign exchange reserves rebounded sharply in the first week of April, reversing the previous week’s decline, as the country’s forex reserves rose by $9.063 billion, according to data released by the Reserve Bank of India (RBI) on Friday.The country’s forex jumped to $697.121 billion for the week ended April 3. This comes after a significant drop of $10.288 billion in the preceding week ended March 27, when reserves had slipped to $688.058 billion.The lat…
New Delhi, April 8 (IANS) Remittances to India are likely to reach an all‑time high of $137–140 billion in FY26 before moderating to $135–137 billion in FY27, amid escalation in West Asia, a report said on Wednesday.Further, enabling true dematerialisation of Retail Direct holdings could boost interoperability and attract strong interest to debt markets from retail investors, the report from SBI Research said.Analysing the language of the central bank governor in the monetary policy meetin…
Visakhapatnam, April 8 (IANS) Leader of the Opposition (LoP) in the Andhra Pradesh Legislative Council, Botcha Satyanarayana has written to Governor S. Abdul Nazeer that the State Finance Department presented incorrect and incomplete information on government borrowings for 2024-25 and 2025-26 in the Council.In his letter, Botcha Satyanarayana said the reply given by the Principal Finance Secretary to a starred question in the February 2026 session understated the actual borrowings and omitted k…