India’s foreign exchange reserves dropped by $8.71 billion to $625.87 billion as of week ending January 10, 2025, the Reserve Bank of India said on Friday. The reserves have been on a declining trend for the last few weeks. Weekly Decline in Forex Reserves The country’s forex reserves had dropped by $5.69 billion for the …
The Prime Minister of India has approved the establishment of the 8th Central Pay Commission, a pivotal step towards revising the salary structures, allowances, and pensions of central government employees and pensioners. This decision is anticipated to impact nearly 50 lakh central government employees, including defence personnel, and 65 lakh pensioners. Role and Scope of …
After the completion of Michael Debabrata Patra’s term, RBI reshuffled the portfolios of its deputy governors. M Rajeshwar Rao now heads the monetary policy department, with other departments reassigned among the governors. M Rajeshwar Rao Assumes Control of Monetary Policy The Reserve Bank of India has reorganised the responsibilities of its deputy governors following the …
India’s manufacturing sector, particularly industries reliant on Chinese imports such as electronics, solar panels and electric vehicles (EVs), is facing considerable challenges. Chinese authorities have significantly reduced exports of critical equipment necessary for production, a move believed to be aimed at hindering the growth of global companies in India such as Foxconn, BYD, and Lenovo. …
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. …
