India’s foreign exchange reserves rose by $938 million to $682.321 billion in the week ended May 28, snapping the previous week’s decline, according to data released by the Reserve Bank of India (RBI) on Friday.In the preceding reporting week, the country’s forex reserves had fallen by $7.511 billion to $681.384 billion, reported PTI.India’s reserve stock…
Reserve Bank of India Governor Sanjay Malhotra on Friday cautioned that a projected deficiency in the south-west monsoon could impact rural demand and private consumption, even as various government initiatives are expected to cushion the effect.Speaking at the post-monetary policy press conference, Malhotra said consumption trends have remained healthy so far but acknowledged that a…
Indian entrepreneurs have emerged as the largest immigrant group behind America’s billion-dollar startup ecosystem, founding or co-founding 96 US unicorns, according to a new study that underscores the growing influence of Indian talent on the world’s biggest innovation economy.The report by the National Foundation for American Policy (NFAP) found that immigrants have founded or co-founded…
NEW DELHI: Reserve Bank of India Governor Sanjay Malhotra on Friday said the central bank is considering a proposal to introduce polymer currency notes in India, though the idea remains at a preliminary stage and no final decision has been taken yet.Addressing the media after the Monetary Policy Committee (MPC) meeting, Malhotra said, “Polymer note…
India is projected to surpass China in terms of its share of global GDP measured in purchasing power parity (PPP) by around 2060, as China’s contribution to the world economy is expected to stabilise and decline in the second half of the century, PTI reported citing a report by researchers associated with the World Inequality…
Old gold exchange transactions at jewellery stores have surged by as much as 60% year-on-year as soaring gold prices encourage consumers to use existing jewellery to fund fresh purchases, according to an ET report citing industry executives.The report said exchange-led purchases now account for almost half of sales at leading jewellery chains. The trend has…
Russian President Vladimir Putin on Thursday expressed confidence that bilateral trade between India and Russia will reach USD 100 billion in the coming years, highlighting growing cooperation in energy, investments and other strategic sectors.Speaking at the St Petersburg International Economic Forum, Putin praised India’s economic growth and described New Delhi as a reliable partner, while…
As widely anticipated, the Reserve Bank left interest rates unchanged for a second consecutive policy meeting. Giving a major boost to the rupee, Reserve Bank of India (RBI) governor Sanjay Malhotra on Friday announced several steps to attract foreign capital at a time when the US-Iran conflict is putting pressure on India’s external sector resilience.The…
Foreign capital (AI image) US-Iran war: Moving in to bolster forex reserves and attract foreign investments, the Reserve Bank of India (RBI) governor Sanjay Malhotra on Friday announced five measures. The steps come at a time when foreign investors have been exiting Indian equities at a record pace, putting pressure on the rupee and India’s…
Gold’s intraday technical structure remains weak following a decisive breakdown below key support levels. (AI image) Gold price prediction today: Gold prices seem to be exhibiting weak intraday bias, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. He recommends a sell on rise strategy.Gold August futures on MCX are trading near…