On January 02, 2025, the Indian rupee traded at 85.73 to the U.S. dollar, up nearly 0.09% on the second trading day of the year against 85.65 at the previous close yesterday. The currency depreciated by 2.8% in 2024, marking its seventh consecutive year of decline. Performance of Regional Currencies Asian currencies recovered in today’s …
As India steps into 2025, the nation emerges as a global leader in sustainable development, driven by the Ministry of New & Renewable Energy’s (MNRE) extraordinary accomplishments. Union Minister Pralhad Joshi, reflecting on the past year, said, “2024 marked a transformative moment in India’s renewable energy journey. Our achievement of 214 GW from non-fossil sources …
India’s GST collections climbed to ₹1.77 trillion in December 2024, marking the 10th straight month of revenues exceeding ₹1.7 trillion, according to government data released on Wednesday. This represents a 7.3% increase compared to ₹1.65 trillion collected in December 2023 but remains lower than the peak of ₹2.1 trillion achieved in April 2024. December’s collection …
The Indian government reported a fiscal deficit of ₹8.47 trillion ($98.9 billion) for the period from April to November 2024, reaching 52.5% of its annual target. Here’s a breakdown of the key details: Tax Collections Show Modest Growth Net tax receipts for the first 8 months stood at ₹14.43 trillion, meeting 56% of the annual …
The Indian rupee traded flat against the dollar on Wednesday. The dollar index remained firm amid a hawkish Federal Reserve and expectations around Donald Trump’s potential second term as U.S. President. On January 01, 2025, the Indian rupee traded at 85.55 to the U.S. dollar, up nearly 0.3% on the first trading day of the …
Finance Minister Nirmala Sitharaman chaired the 6th pre-budget consultation meeting with experts and representatives from the health and education sectors on Monday in New Delhi. The discussion was part of the formal exercise to prepare the Union Budget 2025-26, set to be presented on February 1, 2025. The meeting was attended by senior officials, including …
Non-Banking Financial Companies (NBFCs) witnessed a ~13% decrease in their loan disbursals during the September 2024 quarter, primarily driven by a 23% dip in urban loan sanctions, according to recent industry data. Long-Term Loans Lead the Decline The drop in loan disbursals was significantly influenced by a sharp 50% fall in long-term loans, those with …
The Reserve Bank of India (RBI) has instructed the National Payments Corporation of India (NPCI) to develop a system allowing users of NEFT (National Electronic Funds Transfer) and RTGS (Real-Time Gross Settlement) to verify the name of the recipient’s bank account before transferring funds. This measure aims to reduce errors and prevent fraud during online …
In 2024, the Securities and Exchange Board of India (SEBI) introduced several key reforms aimed at enhancing transparency, curbing speculative trading, and strengthening the financial ecosystem. However, the year was overshadowed by controversies involving Chairperson Madhabi Puri Buch, which slowed the pace of reforms, experts observed. Tackling Derivatives Frenzy SEBI implemented 6 measures to address …
With the surge in digital payments, cyber fraud incidents have significantly increased, according to the Reserve Bank of India (RBI)’s December Financial Stability Report (FSR). These frauds often involve innovative methods, causing substantial financial and emotional damage to victims. Need for Awareness and Mule Account Identification The RBI report highlights the importance of preventive awareness …
