New Delhi, July 27 (IANS) The Finance Ministry informed Parliament on Monday that the government has approved the Reserve Bank of India’s (RBI) proposal to conduct field trials of polymer currency notes in the Rs 10 and Rs 20 denominations.The approval was confirmed by Minister of State for Finance Pankaj Chaudhary in a written reply to a question in the Lok Sabha.The government, however, clarified that the move does not signal the end of paper currency. Polymer banknotes are proposed to circula…
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Mumbai, July 27 (IANS) HDFC Bank on Monday said its board has issued warning letters and imposed a monetary penalty of Rs 1 lakh each on Managing Director and Chief Executive Officer Sashidhar Jagdishan, Chief Financial Officer Srinivasan Vaidyanathan and Group Head – Retail Assets Arvind Vohra following the conclusion of an internal review into the bank’s deposit arrangements with the Maharashtra State Road Development Corporation (MSRDC).The action follows the findings of a Special Disciplin…
New Delhi, July 27 (IANS) Indian equities warrant a ‘constructive’ view over the long run due to demographics, rising domestic investment, a deepening financial system, diversifying supply chains and improving energy security, a report said on Monday.The report from PL Wealth recommended investors consider a phased entry into quality large‑cap and large & mid‑cap names in the short term and kept an overweight call for the 24–60-month horizon.The firm kept its overweight call on India i…
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…
Mumbai, July 24 (IANS) India’s foreign exchange reserves rose by $1.08 billion to $676.237 billion for the week ended July 17, extending their upward trend, according to data released by the Reserve Bank of India (RBI) on Friday.The latest increase follows a gain of $964 million in the previous reporting week, when the country’s forex reserves climbed to $675.157 billion.The RBI’s weekly statistical supplement showed that the country’s foreign exchange reserves continued to strengthen after reco…
New Delhi, July 23 (IANS) Amid global uncertainties, India remains among the fastest growing major economies across the globe and has been able to sustain the momentum in economic activities through June, and both industrial and services sector indicators remained firm in India, according to the Reserve Bank of India (RBI).The farm sector is witnessing uneven southwest monsoon, but the impact on food inflation may be mitigated by comfortable foodgrain stocks. “The momentum of external trade su…
New Delhi, July 20 (IANS) Nearly 55.49 crore users had been onboarded on the Unified Payments Interface (UPI) platform as of June 2026, while UPI processed a record 24,161.69 crore transactions worth Rs 314.23 lakh crore during FY2025-26, the Centre informed Parliament on Monday.The transaction volume has risen steadily over the past five financial years. UPI processed 4,595.61 crore transactions worth Rs 84.16 lakh crore in FY2021-22, followed by 8,371.44 crore transactions valued at Rs 139.15 …
New Delhi, July 20 (IANS) Foreign portfolio investment (FPI) flows into India are expected for a rebound in FY27 marking an improvement from the $16 billion outflow recorded in FY26, a report said on Monday.The net FDI is expected to rise from $7 billion in FY26 to $15 billion in FY27, supported by healthy growth in gross inflows and an expected moderation in growth of repatriation outflows, the report from CareEdge Ratings said.Gross foreign direct investment (FDI) rose 18 per cent year‑on‑…
Hyderabad, July 20 (IANS) Former Andhra Pradesh Finance Minister and senior YSRCP leader Buggana Rajendranath has launched a scathing attack on the N. Chandrababu Naidu-led coalition government, describing its fiscal management as “poor” and claiming the state is currently facing the highest revenue deficit in the country at Rs 60,285 crore for the 2024–25 financial year. In an exclusive interview with IANS, the YSRCP leader dismantled the government’s narrative regarding the state’s financial…
New Delhi, July 17 (IANS) The view on Indian equities remains constructive as resilient domestic growth, improving private capex prospects, and potential trade deals with the EU and US act as medium-term tailwinds, a report said on Friday.India’s growth and investment cycle should support equities as oil and fertiliser prices ease, policy cuts bolster demand and private capex prospects improve, the report from HSBC Mutual Fund said.The thaw in the Middle East conflict and a correction in crude…