Commerce and Industry Minister Piyush Goyal on Saturday said he is hopeful of India finalising certain free trade agreements (FTAs) in the next few months, which would help promote exports. India is in the final stages of concluding FTA negotiations with the UK. The country is also negotiating similar pacts with Canada and European Union […]
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Net direct tax collections have risen by a huge 160 per cent to Rs 16,61,428 crore in 2022-23 from Rs 6,38,596 crore in 2013-14, according to time series data released by the Finance Ministry on Thursday. As per the data, gross direct tax collections also witnessed a massive 173 per cent rise to Rs 19,68,780 […]
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The Reserve Bank of India (RBI) has begun evaluating at least five potential bidders interested in picking up a majority stake in state-owned IDBI Bank Ltd, three people familiar with the matter told Reuters. Kotak Mahindra Bank, Prem Watsa-backed CSB Bank and Emirates NBD are among those that have submitted expressions of interest, two of the […]
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The non-availability of Rs 2,000 denomination currency notes in the banking system has prompted commercial banks to reconfigure the cassettes of cash dispensers in automated teller machines (ATMs) so that they can hold lower denominations.
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Reserve Bank governor Shaktikanta Das on Friday cautioned banks against any build-up of asset-liability mismatches, saying both are detrimental to financial stability and hinted that the ongoing crisis in the US banking system seems to have emanated from such mismatches. Delivering the annual KP Hormis (Federal Bank founder) commemorative lecture in Kochi this evening, the governor was […]
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Retail inflation in February remained above the central bank’s upper tolerance limit of six per cent for the second straight month, despite declining marginally from the previous month’s level, prompting analysts to predict another rate hike by 25 basis points by the Monetary Policy Committee (MPC) in its April meeting. Data released by the National Statistical […]
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Twitter boss Elon Musk on Saturday said that he is open to the idea of buying the collapsed Silicon Valley Bank (SVB) and turning it into a digital bank. Min-Liang Tan, co-founder and CEO of Razer (a consumer electronic company), tweeted: “I think Twitter should buy SVB and become a digital bank”. To which Musk replied: “I’m open to the […]
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Prime Minister Narendra Modi will release the 13th instalment of financial benefits worth Rs 16,800 crore to over eight crore eligible farmers under the flagship PM-KISAN scheme on Monday ahead of Holi and rabi harvesting. Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), eligible farmers are provided with a financial benefit of Rs 6,000 per year in three equal […]
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The Reserve Bank of India’s (RBI’s) recently released draft guidelines on minimum capital requirements provide more flexibility to banks for treatment of certain instruments, but lenders may need 15-20 per cent more in capital for market risk, bank officials said.
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India’s economic growth may show a lower than 5 per cent print in the December quarter of FY23 on a normalising base, even though many high frequency indicators point to a sequential improvement in performance.
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