Reserve Bank of India governor Shaktikanta Das India’s new monetary policy committee may lay the ground for an interest rate cut on Wednesday as a wave of global easing kicks off and growth in the world’s fastest-expanding major economy moderates. While most of the 35 economists in a Bloomberg survey expect the Reserve Bank of…
NEW DELHI: National Financial Reporting Authority (NFRA), the regulator for auditors and audit firms for listed and large companies, has acted against Pathak HD & Associates – the joint auditor for Reliance Capital, then an Anil Ambani group company – and its two auditors for multiple failures flagged by the other auditor, Price Waterhouse (PW),…
UPI rule change for PPIs: Unified Payments Interface (UPI) and wallets like Paytm, PhonePe, and Amazon have become integral to our daily transactions. Whether it’s paying for groceries, bills, or other expenses, we rely on these platforms regularly. However, a common complaint among users is the limited flexibility in using wallet funds for UPI transactions.Typically,…
NEW DELHI: The Reserve Bank of India will likely keep interest rates unchanged Friday, with chances of an early cut fading after the government warned of a coming heatwave and the economy grew faster than expected.The central bank will likely keep its benchmark repurchase rate at 6.5% for a seventh straight policy meeting, according to…
Bank holidays April 2024: Banks across many states will remain closed on Monday, April 1, 2024. This closure is in accordance with the guidelines set by the Reserve Bank of India (RBI) for the annual closing of accounts.As per an ET report, banks will be closed for a total of 14 days across different states…
NEW DELHI: Prime Minister Narendra Modi will visit Mumbai on Monday, 1 April, 2024, where he will address the ceremony commemorating 90 years of Reserve Bank of India (RBI). PM Modi is expected to address the event at 11am.Finance minister Nirmala Sitharaman will also be present at the event in Mumbai, where she is also…
NEW DELHI: State-owned Bank of India (BoI) has announced a hike in lending rate by 10 basis points, a move which will make loans, including retail, expensive. The lending rate increase comes ahead of the monetary policy announcement by the Reserve Bank of India on April 5. The new rate would be effective from April…
Dearness Relief hike: The central government has recently announced a 4% hike in Dearness Relief (DR) for pensioners, effective from January 1, 2024. This adjustment will increase the DR to 50% for eligible pensioners. Eligibility and calculation details are provided in a March 13, 2024 Office Memorandum from the Department of Pension & Pensioners’ Welfare…
International credit card spending new rules soon? If you are planning a foreign holiday, then you may have to take note of the liberalised remittance scheme cap for international credit card spends from April 1, 2024. Banks in India are gearing up for a possible change in the rules regarding international credit card spending. The…
MUMBAI: India’s foreign exchange reserves rose for a fourth straight week to hit a record high of $642.49 billion as of March 15, central bank data showed on Friday. The reserves rose by $6.4 billion in the reporting week, after rising $20 billion in the previous three weeks. The Indian economy is seen growing at…
