Mumbai, June 4 (IANS) The Shiv Sena Uddhav Balasaheb Thackeray (UBT) on Thursday said the geopolitical landscape appeared increasingly challenging for India, and after incidents like the Pahalgam attack, the country has found itself isolated, lacking firm, unconditional backing from major global powers, reflecting a profound internal crisis regarding its current national and economic security.The Thackeray camp, in an editorial in the party’s mouthpiece, ‘Saamana’, argued that India’s position o…
Latest Reserve Bank of India News & Updates
Thiruvananthapuram, June 4 (IANS) Kerala’s new government has inherited a severe financial challenge, with the state facing outstanding liabilities of Rs 5.07 lakh crore, committed expenditure eating up 77 per cent of total revenue receipts, and interest payments alone consuming nearly 21 per cent of revenue, according to the White Paper on the state’s finances tabled in the Assembly on Thursday.The Status Report on Kerala’s fiscal health, presented by Chief Minister V.D. Satheesan, said t…
New Delhi, June 3 (IANS) NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India, has officially partnered with ACLEDA Bank Plc. to launch Unified Payments Interface (UPI) acceptance in Cambodia, according to an official statement issued on Wednesday. The breakthrough collaboration went live following a formal ceremony in Phnom Penh, attended by Chea Serey, Governor of the National Bank of Cambodia, alongside high-level representatives from…
New Delhi, June 3 (IANS) The Reserve Bank of India (RBI) has issued a compounding order under Section 15 of the Foreign Exchange Management Act, 1999 (FEMA), in the case of Jusda India Supply Chain Management Private Limited with a one-time payment of Rs 12,52,984. This has resulted in the termination of proceedings against the company for compounded contraventions of provisions of FEMA, 1999, according to a statement issued by the Enforcement Directorate (ED) on Wednesday.The order has been pas…
New Delhi, June 3 (IANS) A pause in interest rates by the Reserve Bank of India’s Monetary Policy Committee (MPC) would help stabilise economic conditions and support growth, State Bank of India (SBI) Chairman CS Setty said on Wednesday.Speaking at the Citi India Conference in Mumbai, Setty said a rate pause at this juncture would help stabilise conditions, while noting that inflation dynamics remain an important factor for policymakers.“Broadly, the market expects that there could be a rate…
New Delhi, June 3 (IANS) Shares of private lender IndusInd Bank fell 3 per cent on Wednesday after reports emerged of a fresh whistleblower complaint seeking an investigation into alleged insider trading, governance lapses and audit shortcomings at the bank.The stock declined as much as 3.01 per cent to hit an intraday low of Rs 884.75 apiece on the BSE as of 2:30 pm. At the last count, the banking stock was trading at Rs 895.80, down about 2 per cent.The selling pressure followed reports sugges…
New Delhi, June 3 (IANS) As global economic growth slows down amid the West Asia crisis, India is projected to register 6.3 per cent growth in 2026–27 (FY27) and 6.4 per cent in 2027–28 (FY28), the Organisation for Economic Cooperation and Development (OECD) said on Wednesday.In the emerging-market economies, China’s growth is projected to ease from 5.0 per cent in 2025 to 4.5 per cent in 2026 and 4.3 per cent in 2027, as energy-related vulnerabilities and real estate sector adjustments we…
Mumbai, June 3 (IANS) The Reserve Bank of India (RBI) on Wednesday clarified that its physical stock of gold remains unchanged at 880.52 tonnes, dismissing media reports that suggested the central bank had sold part of its gold reserves.In a statement, the RBI said it had come across reports in certain sections of the media regarding the sale of gold by the central bank, and emphasised that such reports were incorrect.“The Reserve Bank of India (RBI) has come across reports in certain sections…
New Delhi, June 3 (IANS) The Central government on Wednesday firmly rejected claims that the Reserve Bank of India (RBI) had sold a significant portion of its gold reserves to safeguard foreign currency assets amid tensions in West Asia, describing the assertion as “fake” and unsupported by official data. The clarification came in response to an analysis by Bloomberg Economics, which suggested that the RBI may have offloaded gold worth approximately $12 billion during a period of heightened geop…
New Delhi, June 3 (IANS) The government on Wednesday dismissed claims that the Reserve Bank of India (RBI) sold gold worth around $12 billion, calling a media report fake.In a post on X, the Press Information Bureau (PIB) Fact Check unit rejected claims that the RBI had offloaded a significant portion of its gold reserves, citing official data released by the central bank.“According to RBI, the share of gold in India’s foreign exchange reserves rose from 13.92 per cent at the end of Septembe…