RBI data shows liquidity surge as weekend shuts market
Overnight money market volumes dropped to zero on Sunday August 23 as banks did not trade, RBI data shows. The previous trading day on August 21 saw volumes of Rs 6.56 lakh…
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Crude price surge risks widening India’s CAD and inflation
India imports over 85% of its crude oil, making it the country's single largest import item. In FY24, crude imports cost roughly USD 180 billion, nearly one-fourth of total imports. A USD…
Engineering leads India’s professional services export surge to $13.8 bn
Engineering services exports from India surged from Rs 12,226 crore ($1.8 billion) in 2014-15 to Rs 1,09,849 crore ($13.8 billion) in 2024-25, a 22.8% compound annual growth rate, according to a NITI…
Small finance bank FDs offer up to 8.50%, SBI at 6.45%
Suryoday and Utkarsh Small Finance Banks offer FD rates of 8.10%, while ESAF SFB offers senior citizens up to 8.50% on an 800-day deposit, according to Businesstoday.in. In comparison, SBI's 444-day special…
Jewellers push cash for gold as festive demand returns
Indian jewellery retailers are rolling out cash-for-gold schemes ahead of the festive and wedding season, as high gold prices and volatile demand put pressure on sales and margins. Under these programmes, customers…
Federal Bank to raise $500 million via GIFT City dollar bonds
Federal Bank has become the latest Indian lender to tap the dollar debt market through its branch in GIFT City, aiming to raise $500 million through a five-year bond sale, two merchant…
Centre appoints three new part-time directors to RBI board
The central government has appointed Janmejaya Kumar Sinha, Syed Akbaruddin, and Annie George Mathew as part-time, non-official directors on the Reserve Bank of India's central board for a four-year term. The appointments…
Leveraged dollar deposits surge as RBI ends swap window early
Citigroup and Axis Bank have teamed up to offer leveraged foreign-currency deposits to non-resident Indians, multiplying dollar inflows into India as the RBI ends its concessional swap window early after deposits surged…
India core sector growth slows to 5.4% in July, demand eases
India's core industrial sector growth slowed to 5.4% in July from 6% in June, data from the Index of Core Industries (ICI) showed. The Hindu reports that much of the growth is…
SBI total business may double to Rs 200 lakh crore by 2030
SBI Chairman C S Setty has said the bank's total business could double to around Rs 200 lakh crore by 2030, when the lender celebrates its 75th foundation year. The projection rests…
