Mumbai: The country’s foreign exchange reserves declined further by USD 2.335 billion to USD 590.702 billion for the week ended September 22, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves dropped by USD 867 million to USD 593.037 billion. It can be noted that in October 2021, the country’s…
New Delhi: The government on Friday raised the interest rate on five-year recurring deposit scheme to 6.7 per cent from 6.5 per cent for the December quarter and retained the rates for all other small savings schemes. According to a finance ministry circular, the interest rate on savings deposit has been retained at 4 per cent…
New Delhi: The Centre’s fiscal deficit in the first five months of 2023-24 touched 36 per cent of the full-year target, government data showed on Friday. In absolute terms, the fiscal deficit — the gap between expenditure and revenue — was Rs 6.42 lakh crore as of August-end, according to the data released by the Controller…
New Delhi: Congress president Mallikarjun Kharge on Wednesday attacked Prime Minister Narendra Modi over the situation in Manipur and demanded that he sack the BJP’s “incompetent” chief minister as a first step to control the turmoil. In a post on X, the Congress leader also said the northeastern state has turned into a “battlefield” because of…
New Delhi: The income tax department has notified rules for valuation of investments by resident and non-resident investors in startups, thus paving way for implementation of the changes brought in 2023-24 Budget. As per the changes in Rule 11UA of I-T rules, the Central Board of Direct Taxes (CBDT) provides that the valuation of compulsorily convertible…
Mumbai: Protecting depositors’ hard-earned money is a sacred duty for a banker, and more important than visiting a religious place, according to RBI Governor Shaktikanta Das. He said the task is more important because the entire banking system runs on deposits, which are accumulated from small savers, middle class and retirees. “Protection of depositors’ money is…
Mumbai: RBI Governor Shaktikanta Das on Monday said the central bank is “not comfortable” with the gross non-performing assets ratio of 8.7 per cent in urban cooperative banks (UCBs) and asked them to work towards improving the same. Addressing directors of UCBs in the financial capital at an RBI-organised conference, Das urged that such lenders should…
Udaipur: The nine Vande Bharat Express trains flagged off by Prime Minister Narendra Modi on Sunday have a host of new features incorporated after passengers’ feedback to make the journey more comfortable. From improvising the seat reclining angle to incorporating deep wash basins to avoid water from splashing out, the coach manufacturers have paid attention to…
Panaji (Goa): Dr. Mohan Krishna led Cheers Group India’s luxury spirits conglomerate that has a varied portfolio of world-class Indian Single-malt whiskies catering to all segments of luxury spirit imbibers in the country. Most famous among is the ‘Best Indian Single-malt whisky’ awarded, Three Monkeys Indian Single-malt whisky which has a presence pan India at…
New Delhi: Air India chief Campbell Wilson on Friday told staff that requirements and expectations with respect to safety are clear and stressed that consequences for “tardiness and transgression” are robust. Mentioning about DGCA’s action against two staff for lapses in the way safety audit was conducted earlier this year, Wilson said the airline acknowledges…
