New Delhi, June 6 (IANS) The Reserve Bank of India (RBI) is examining a proposal to introduce polymer or plastic currency notes, although no final decision has been taken yet, Governor Sanjay Malhotra has said.Malhotra has said that the proposal remains under consideration and is still at a preliminary stage.He stated that as far as polymer notes are concerned, the proposal is under consideration, adding that as soon as any decision is taken on it, we will inform you.Malhotra acknowledged that r…
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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…
Mumbai, June 5 (IANS) The Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday announced that the limits for investment by NRIs and OCIs in equity instruments traded on the stock market without SEBI registration are being increased.Further, the same facility is being extended to all individual Persons Resident Outside India (PROIs) at par with NRIs and OCIs, he remarked during his speech after the Monetary Policy Committee (MPC) meeting.“Third, a facility of concessional forex swap w…
Mumbai, June 5 (IANS) The Reserve Bank of India (RBI) on Friday projected real GDP growth for 2026-27 at 6.6 per cent — with Q1 at 6.6 per cent; Q2 at 6.3 per cent; Q3 at 6.5 per cent; and Q4 at 6.8 per cent — saying that prolonged global supply chain disruptions, volatility in global financial markets, and weather-related shocks continue to pose downside risks to the domestic growth outlook.India’s manufacturing and services PMI suggest that both sectors continue to be resilient, and busine…
New Delhi, June 5 (IANS) The Reserve Bank of India is set to announce its monetary policy decision on Friday after the three-day Monetary Policy Committee meeting — chaired by Governor Sanjay Malhotra — with experts widely expecting the repo rate to remain unchanged amid geopolitical tensions and rising crude oil prices.The policy decision comes against the backdrop of escalating geopolitical tensions in West Asia, which have pushed up crude oil prices.Experts largely anticipate a status quo o…
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) The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) begins its three-day policy meeting on Wednesday, with experts widely expecting the central bank to maintain status quo on interest rates amid volatile global conditions, driven by ongoing tensions in West Asia. The policy decision will be announced on Friday by Governor Sanjay Malhotra.The June review comes amid sustained geopolitical tensions and volatile global crude and gas prices, which have complic…
New Delhi, May 31 (IANS) The Reserve Bank of India (RBI) is widely expected to keep its benchmark policy rate unchanged at 5.25 per cent when the Monetary Policy Committee (MPC) concludes its three-day meeting on June 5, as policymakers weigh mounting global uncertainties and their potential impact on inflation and economic growth.Market participants and economists anticipate that the central bank will maintain its cautious stance, choosing to closely monitor evolving developments in West Asia a…
Mumbai, May 31 (IANS) India’s benchmark equity indices ended sharply lower on Friday after a steep selloff in the final hour of trade, with investors turning cautious ahead of key domestic and global developments that are expected to drive market sentiment next week. Investors are now expected to closely track the Reserve Bank of India’s monetary policy decision, developments surrounding the US-Iran conflict, crude oil price movements and foreign investor activity for cues in the coming week…
New Delhi, May 13 (IANS) No proposal is currently being considered to mandate work-from-home arrangements for the IT sector, after Prime Minister Narendra Modi’s appeal for reduced fuel usage to tackle the fuel price surge, government sources clarified, as per reports. The IT industry has largely adopted hybrid work models since the pandemic, and hence, no formal directive is being considered, an NDTV Profit report cited the sources as saying.Further, policy decisions related to mandatory remote…