Stronger-than-expected US employment data released last Friday rattled global markets, diminishing hopes for an early rate cut by the Federal Reserve. With the US unemployment rate dipping to 4.1% in December and robust job growth, analysts now predict fewer rate cuts in 2025.
Author: BNW News
Masses Gather for Holy Dip as Maha Kumbh Festival Commences in India
This iconic religious event sees elaborate security measures in place, with 40,000 police officers deployed and AI-powered surveillance cameras ensuring uninterrupted monitoring of the massive crowds.
RBI on a spelling spree to support Rupee, say traders
The US dollar surged on expectations that the Federal Reserve will not cut rates by much this year, Reuters reported quoting traders.
Finmin to meet bank chiefs on Jan 15 to review financial inclusion schemes
The Finance Ministry is set to meet the chiefs of Public Sector Banks (PSBs) on Wednesday to review thier performance including the progress of various financial inclusion schemes, the PTI reported on…
Global markets under pressure post US jobs data
The better-than-expected US payroll data affirmed the case for Federal Reserve officials to keep interest rates on hold for the foreseeable future, in the face of lingering inflation and political uncertainty. That gave the dollar a boost Friday, while pushing up US Treasury yields.
Bank Holiday: Are Banks Open or Closed Today? Full January Holiday List
In January 2025, banks will remain closed for a total of 13 days, including national and regional holidays. Planning financial tasks around these dates is essential to avoid disruptions. Weekend holidays, which include the second and fourth Saturdays along with all Sundays, are also part of this schedule.
IBBI mandates eBKray auction platform to sell assets under liquidation
NEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) has mandated the exclusive use of the eBKray auction platform to sell assets under the liquidation process from April 1. The eBKray…
Rupee hits 86 against US dollar, settles 14 paise lower
Rupee hits fresh record low
November IIP jumps to 6-month high of 5.2%
India’s industrial growth surged to a six-month high of 5.2% in November, up from 3.7% in October, according to data released on January 10. This marks the third consecutive month of rising…
Equitas Small Finance Bank hikes interest rates for savings account customers
The revised savings account interest rates offer customers attractive opportunities to grow their savings. Balances up to ₹1 lakh will continue to earn an interest rate of 3.00%, while the extended slab for balances between ₹1 lakh and ₹10 lakhs will provide an interest rate of 5.00%.