If you were planning to visit your bank on Sunday, September 27, there is an important update. Public sector banks and Regional Rural Banks (RRBs) will function normally on Sunday, despite it being a scheduled weekend holiday. The decision comes ahead of a proposed three-day nationwide bank strike from September 28 to 30. The Ministry ...

Indian manufacturing industry has been hit severely after the corona virus lockdown hit. According to data compiled by IHS Markit recently, the India Manufacturing Purchasing Managers’ Index (PMI) recorded a fall to 27.4 in April from 51.8 in March 2020, keeping in mind seasonally adjustments. It is worth noting that a reading of less than ...

Banks across the Indian peninsula are expected to observe a shutdown of up to a total of 8 days in March 2025 in addition to regular second Saturdays and Sundays. The Reserve Bank of India (RBI) has put down a list of the days holidays including the ones for various great Festivals such as Holi, ...

The Reserve Bank of India has cut the repo rate – the rate at which the RBI lends to other banks – by 25 basis points to 6.25 percent, after keeping it unchanged for two years. This is the first time in five years that the RBI has cut the repo rate, the last being ...

The Indian rupee hit an all-time low of 84.13 against the US dollar on Tuesday as foreign portfolio investors selling pressure on domestic stocks continued unabated. Although it briefly bounced back to 84.10 by the closing bell due to apparent intervention by the Reserve Bank of India the tremendous sell-off by foreign investors rages on. ...

The Reserve Bank of India has expand the scope of remittance options to International Financial Services Centres under the Liberalised Remittance Scheme enabling Indian residents to establish foreign currency accounts in GIFT City. In a recent decision of RBI has empowered authorized entities to facilitate remittances for accessing financial services or products under the International ...

Kotak Mahindra Bank was hoping to get a green light from the Reserve Bank of India (RBI) for buying Sonata Finance by the end of this financial year, FY24. Good news, they got it sooner!  On October 19, the RBI said yes, and they made it public on October 20. Kotak bought Sonata Finance for ...

The Reserve Bank of India (RBI) has announced its third bi-monthly monetary policy for FY24, keeping the repo rate unchanged at 6.5%. The central bank has raised the repo rate by 250 basis points since May 2022. The RBI is maintaining a pause on policy rates, with a focus on external resilience and core inflation. ...

The Indian economy was already in awful shape, however, the flare-up of the pandemic has dived it further. The Reserve Bank of India’s committee report expressed that the pandemic “has impacted the best of businesses” and organizations that were generally better before the virus outbreak. Experts believe that banks might be more cautious about loan ...

Banking stocks took a beating on Friday following developments around YES Bank. The private lender’s board was superseded by the Reserve Bank of India (RBI). Mirroring global peers, the Indian stock market, too, crashed on Friday as a double whammy of Coronavirus jitters and a sharp sell-off in banking space owing to developments around State ...