NEW DELHI: The Reserve Bank of India (RBI) on Friday fined State Bank of India and Jana Small Finance Bank for failing to follow certain regulatory non-compliances.According to the RBI, it has levied a fine of Rs 1,72,80,000 on SBI for failing to adhere to guidelines concerning “Loans and Advances-Statutory and Other Restrictions”, “Customer Protection…
Representative image (Picture credit: ANI) Consumer prices in China fell for the third month in April as the country grapples with sluggish spending amid a fierce trade war with the United States.The latest data, released on Saturday by the National Bureau of Statistics (NBS), showed that the consumer price index (CPI), a crucial inflation measure,…
India’s market demonstrates superior structural strength. (AI image) India-Pakistan tensions: The reaction of stock markets in India and Pakistan to the rising tensions post Pahalgam terror attack and the ongoing Operation Sindoor so far is an indication of India’s underlying economic strength. The stock markets of India and Pakistan have shown contrasting responses to the…
Sunil Mittal (File photo) Sunil Mittal is in advanced talks to acquire 49% stake in the Indian unit of China’s Haier Smart Home Co, according to people familiar with the matter, as the billionaire looks to tap growing demand for goods such as home appliances.The Bharti Airtel founder has teamed up with private equity firm…
MUMBAI: The rupee recovered sharply on Friday to close at 85.37 against the dollar after touching an intraday low of 85.85, helped by dollar sales from public sector banks acting on behalf of the RBI.The domestic currency closed at 85.71 in the previous session.Despite the late recovery, the rupee posted its steepest weekly decline in…
Globally, central banks’ collective gold holdings grew from 26,000 tonnes to 32,000 tonnes during the 15-year period ending 2024. (AI image) RBI has been on a gold buying spree, but it’s not alone! Several countries besides India are increasing their gold holdings significantly. Among countries that witnessed the most substantial increase in gold’s proportion of…
India’s foreign exchange reserves broke their 8 week long rising streak, falling $2.06 billion in the week ending 2 May, as per the latest data from the Reserve Bank of India (RBI).The fall brings India’s total forex reserves down to $686.06 billion, after they had surged $1.98 billion to $688.13 billion in the week ending…
MUMBAI: Dalal Street witnessed heightened volatility on Friday, with the sensex closing 880 points, or 1.1% down at 79,454 points as armed conflict between India and Pakistan escalated on Thursday night.Market players also pointed out that foreign funds turned net sellers in Indian stocks for the first time in more than three weeks. On the…
Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) NEW DELHI: Finance minister Nirmala Sitharaman on Friday asked all banks to remain fully alert and prepared to deal with any eventuality or crisis. She emphasised the need to ensure uninterrupted access to banking and…
Image used for representative purposes MUMBAI: The suspension of IPL – India’s most heavily insured sporting event – has brought renewed scrutiny to the utility and limits of event insurance amid geopolitical tensions. Howden, the insurance broker to the BCCI, acknowledged the suspension and said it would wait for an official decision on cancellation or…
