India’s Forex Reserves Fall to 10-Month Low Amid Rupee Pressure
India’s forex reserves fell to a 10 month low as RBI sold dollars to support Rupee
RBI imposes monetary penalty on Mukkuperi Co-operative Urban Bank
This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
RBI Bulletin: India’s Economic Growth Poised for Revival as Demand Strengthens
Authored by a team led by Michael Patra, who recently stepped down as RBI Deputy Governor, the article highlights that domestic demand is strengthening across the board. “Rural demand, in particular, is gaining momentum, underpinned by resilient consumption and brighter prospects for agriculture,” it noted.
Sensex ends at 76632, down 0.53%: 5 Factors Behind the Market Slump
The benchmark indices reflected investor caution amidst global and domestic uncertainties. Here are the five key factors contributing to this market downturn:
WazirX freezes first tranche of stolen funds, approximately worth $3M USDT
Abiding by their efforts of recovery of Stolen Assets while the platform goes through restructuring proceedings, Zettai has been working in partnership with law enforcement agencies, forensic experts, investigating authorities as well as legal experts to trace and retrieve stolen assets while charting the best course of action for all of the Platform’s affected users, the company said.
IIFL Finance raises USD 325 Million Senior Secured Bond from International Markets
The proceeds from this issuance will be used for onward lending, as per the External Commercial Borrowing (ECB) Guidelines by the Reserve Bank of India (RBI).
Oil Prices Rise Amid Supply Concerns and Fed Rate Cut Hopes
Federal Reserve Governor Christopher Waller suggested on Thursday that easing inflation could allow the U.S. central bank to cut interest rates sooner than anticipated, fueling optimism about economic growth and energy demand. This sentiment contrasts with earlier market bets on a slower pace of rate adjustments.
China’s Q4 GDP Surges by 5.4%, Surpassing Market Expectations
Market analysts polled by Reuters had predicted a 5.0% expansion for Q4, up from the 4.6% growth recorded in Q3. The stronger-than-expected performance is attributed to the impact of various support measures introduced by Chinese policymakers in recent months.
Banking Reforms: What Happened to the Privatisation of State-Run Banks?
The government currently holds a majority stake in 12 public sector banks, with ownership exceeding 90% in four of them:
RBI imposes monetary penalty on Parbhani District Central Co-operative Bank Ltd., Parbhani, Maharashtra
The statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2023