Starting January 16, 2025, the Reserve Bank of India will conduct daily Overnight Variable Rate Repo auctions to ease the liquidity deficit in the banking system. The first auction today was for ₹50,000 crore to address ongoing liquidity concerns. Overview of RBI’s Daily VRR Auctions The Reserve Bank of India (RBI) has announced a significant …
The outgoing U.S. administration recently announced sweeping sanctions against Russia’s oil trade, targeting 183 tankers, the majority of the so-called “shadow fleet” that has kept Russian oil flowing to global consumers, including India and China. The sanctions also affected Russian oil giants Gazprom Neft and Surgutneftegas, as well as insurance companies and other entities involved …
On January 16, 2025, the Indian rupee traded at 86.395 to the U.S. dollar, reaching an intra-day high of 86.462. The local currency had its best performance in over 7 months on Wednesday, bolstered by a narrower-than-expected merchandise trade deficit for December. However, the rupee continued to face pressure as it remained above the 86.50 …
India is witnessing an unprecedented economic boom, offering fertile ground for savvy investors to reap substantial returns. With the right approach, you can position yourself at the forefront of this growth story. Curious which sectors are leading the charge? Here’s the breakdown: 1. Information Technology (IT): The Digital Dynamo India’s IT sector continues to thrive, …
Over the last four years, Finance Minister Nirmala Sitharaman has brought transformative changes to India’s income tax framework. With a focus on simplifying processes and enhancing benefits, her policies have shaped a more taxpayer-friendly system. Here are five major reforms from her recent budgets that highlight this evolution. Streamlined Tax Regime and Simplified Capital Gains …
The Income Tax (I-T) department has been given the authority to seize properties under the Prohibition of Benami Property Transactions (PBPT) Act, 1988, even if the actual owner or financier of the property cannot be identified. This was confirmed by a recent ruling from the Adjudicating Authority, highlighting the law’s strength in combating benami transactions. …
The Indian rupee traded at 86.65 to the US dollar on January 15, 2025, showing signs of marginal recovery in the interbank spot market after hitting an all-time low of 86.6475 during the previous session. The rupee saw an intra-day high of 86.665, signalling cautious optimism ahead of critical US inflation data. Indian Rupee Performance …
The Pradhan Mantri Awaas Yojana – Gramin (PMAY-G) has been a cornerstone of rural development since its inception in April 2016. With a mission to achieve “Housing for All,” the scheme is set to construct 4.95 crore houses by March 2029. Madhya Pradesh has emerged as a significant beneficiary under this programme, with the state …
Odisha has partnered with the central government to implement the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY). The state government signed a MoU (Memorandum of Understanding) with the National Health Authority (NHA) to integrate this scheme with Odisha’s existing Gopabandhu Jan Arogya Yojana (GJAY). Comprehensive Health Benefits Under this initiative, families in Odisha will receive …
The Maha Kumbh Mela in Prayagraj, Uttar Pradesh, is not only a grand religious gathering but also an economic powerhouse. With an estimated 40 crore visitors expected during the event starting January 13, this 45-day festival is set to generate significant business opportunities across sectors like hospitality, tourism, and retail. Massive Budget and Infrastructure Investment …
