The RBI stated in its Statement on Developmental and Regulatory Policies that it is putting up a pilot project on QR code-based coin vending machines (QCVM) in partnership with a few major banks to increase coin distribution to the general population. The QCVM is a cashless coin dispenser that eliminates the requirement for physical banknote…
On Monday, the rupee opened about 60 paise down at 82.41 per dollar as the dollar’s value increased versus a basket of six peers and against international crude oil benchmarks. At the interbank foreign exchange, the local unit started out weakly versus the dollar at 82.35 before dropping to 82.50 and losing 42 paise from…
The greatest outflow of foreign capital from Indian stocks in the recent seven months totaled 28,852 crore in January, mostly as a result of the appeal of the Chinese markets. Data with the depositories showed that there had been net investments of 11,119 crore in December and 36,238 crore in November prior to this. de…
The majority of financial industry professionals anticipate the Monetary Policy Committee (MPC) to opt for a moderate repo rate increase of 25 basis points during its policy review meeting this week. Monday marks the beginning of the MPC’s three-day deliberations, and February 8 marks the announcement of the result. In his most recent bimonthly monetary…
By introducing the concept of “blue” and “yellow” bonds as new forms of sustainable finance, markets regulator SEBI enhanced the environment for green bonds on Friday. Water is related to blue bonding. Yellow bonds are related to solar energy, whereas management and marine sector bonds are about. which are green debt securities’ subcategories. According to…
Early on Friday, the rupee strengthened 12 paise to 82.08 against the US dollar, helped by falling crude oil prices and an uptick in domestic equities. Significant dollar demand from importers and significant outflows of foreign funds, according to forex traders, could weigh on the local currency and limit its tendency to appreciate.The domestic currency…
In light of the Adani Group of Companies’ stocks and bonds taking a beating over the past few days and Adani Enterprises’ withdrawal of its fully subscribed 20,000 crore follow-on public offer, the Reserve Bank of India (RBI) has asked banks to share details of the loans they have sanctioned to the Adani Group of…
According to the chairman of the Food Corporation of India (FCI), the government body that buys grains from farmers at the minimum support price, 42% of the wheat the government sold in the open market through its first tender last week was purchased by flour mills that create atta and maida. Wheat processors anticipate that…
Extra-long staple cotton, a specialty crop with strong demand in the textile sector, was given a huge boost by the host of initiatives Finance Minister Nirmala Sitharaman announced for increased productivity and improved rewards to farmers. “We will use public-private partnerships (PPP) to adopt a cluster-based and value chain approach to increase the productivity of…
The government increased the import tax on silver bars, dore (the unprocessed form of silver), and other items to match and platinum from 9.21 percent to 14.35 percent. The government raised the import tax on gold bars and gold dore around the end of last year. In order to close the duty gap, it was…
