The Indian rupee weakened sharply in early trading on Wednesday, touching a historic low of 96.90 against the U.S. dollar, reflecting mounting pressure from global economic uncertainties, rising crude oil prices, and sustained foreign capital outflows. The decline in the domestic currency has intensified concerns among investors, traders, and policymakers about the broader implications for...
India’s financial services landscape is witnessing a significant strategic investment move as the promoter group of TVS Motor Company prepares to acquire up to a 9.9% stake in Jana Small Finance Bank. The transaction marks a notable diversification and expansion effort by the TVS-linked entities into the banking and financial services ecosystem. The proposed investment...
The Indian rupee plunged to a historic low against the US dollar, breaching the psychologically significant 96 mark amid surging crude oil prices, mounting geopolitical tensions, and persistent pressure on emerging market currencies. The sharp depreciation has intensified concerns over inflation, import costs, and broader economic stability in India as global financial markets react nervously...
The Indian rupee witnessed one of its steepest declines in recent times, falling sharply against the US dollar as rising global crude oil prices and escalating geopolitical tensions rattled financial markets. The domestic currency weakened by 139 paise during intra-day trading, nearing the critical ₹95-per-dollar mark and triggering fresh concerns over inflation, import costs, and...
The Indian rupee came under significant pressure in early trading on Wednesday, declining by 28 paise to reach 94.77 against the US dollar in the interbank foreign exchange market. The sharp fall reflected mounting global uncertainties, persistent demand for the American currency from importers, and cautious investor sentiment in international financial markets. Currency traders indicated...
In a significant regulatory action, the Reserve Bank of India has cancelled the banking licence of Paytm Payments Bank, marking a major development in India’s financial and fintech landscape. The decision, which came into effect on April 24, effectively bars the payments bank from carrying out banking operations under the provisions of the Banking Regulation...
New Delhi: A recent study by the State Bank of India (SBI) has recommended that the Reserve Bank of India (RBI) consider a 25 basis points (bps) reduction in the key benchmark lending rate in its forthcoming monetary policy. The recommendation comes amid expectations of continued benign retail inflation into the next financial year. Since...
Prime Minister Narendra Modi announced on Saturday that India’s foreign exchange reserves have surged to a record high, while S&P Global Ratings has upgraded the country’s long-term sovereign credit rating for the first time in nearly two decades. Addressing The Economic Times World Leader Forum in New Delhi, PM Modi said, “We have missed several...
Reserve Bank of India (RBI) Governor Sanjay Malhotra has clarified that he never stated that Unified Payments Interface (UPI) cannot remain free forever. Speaking at the post-RBI policy conference, Malhotra said, “I want to clarify that I never said UPI can’t remain free forever. There are costs, and these costs have to be paid by...
The government on Sunday dismissed as “untrue” a viral WhatsApp message claiming that the Reserve Bank of India (RBI) had directed banks to stop issuing Rs 500 notes through ATMs by September 30, 2025. It clarified that no such instruction has been issued and Rs 500 notes remain legal tender. The misleading message further alleged...