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SHOCKING: 5 - What They Never Told You

Rupee cushioned by central bank hand even as dollar strength dents Asia FX

The Indian rupee defied regional weakness on Wednesday, supported by likely Reserve Bank of India intervention against a strengthening dollar. While Asian peers faltered, the rupee held steady as traders braced for potential US Federal Reserve rate hikes. Concerns over inflation and oil prices are being closely monitored by the…

The Economic Times

RBI in wait-and-watch mode despite easing West Asia risks: Sanjay Malhotra

Despite easing West Asian tensions, the RBI remains cautious, with Governor Sanjay Malhotra emphasizing data dependency over pre-set interest rate paths. While the truce offers relief on inflation and growth, uncertainties surrounding crude oil prices and the monsoon necessitate continued vigilance. The central bank is closely monitoring potential inflation spillover…

The Economic Times

RBI intervention steadies rupee, governor's rate comment pulls down hedging costs

The Indian rupee showed resilience on Wednesday, recovering from earlier dips, a relief attributed to possible central bank measures. Concurrently, the Reserve Bank of India governor's remarks on interest rate hikes being 'premature' led to a notable decline in forward premiums. This shift, alongside a robust dollar, put pressure on…

The Economic Times

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Sanjay Malhotra calms rate hike fears as RBI watches oil, monsoon

RBI Governor Sanjay Malhotra stated that discussions on interest rate hikes are premature, emphasizing that the central bank will monitor incoming economic data amidst global uncertainties. He highlighted the 'neutral' policy stance reflects this caution. While acknowledging reduced upside risks from easing oil prices, Malhotra stressed the need for continued…

The Economic Times

Why did market rise today? Sensex rallied 791 pts, Nifty closed above 24,000; 6 key factors drove D-St rebound

Indian stock markets witnessed a significant surge today, with Sensex and Nifty climbing up to 1%. This positive momentum was fueled by the RBI Governor's indication that further rate hikes are premature, coupled with a rebound in global equities. Key sectors like IT and private banking saw substantial gains, while…

The Economic Times

Rs 20 lakh investment for senior citizens: SBI FD vs SCSS vs RBI floating rate bond- which pays the highest?

Investment options for senior citizens: Senior citizens seeking steady retirement income can choose between Senior Citizens Savings Scheme (SCSS), Fixed Deposits (FDs), and RBI Floating Rate Bonds.

The Economic Times

RBI's FCNR push may boost banks' deposit growth: Crisil

Foreign currency deposits are poised for a boost as the RBI removes interest rate caps on certain non-resident accounts until September. This move aims to attract overseas funds, potentially increasing their contribution to bank deposits. While household savings remain key, this diversification offers supplementary support to overall deposit growth, especially…

The Economic Times

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RBI clarifies FCNR(B) loan, SBLC eligibility under swap scheme

Indian banks can now offer loans to non-residents and issue standby letters of credit against FCNR(B) deposits under a new RBI swap facility. The central bank clarified that this swap covers only the principal amount of eligible deposits, not interest. This move aims to boost foreign currency inflows by allowing…

The Economic Times

RBI clears loans, SBLCs against FCNR(B) deposits under swap scheme

Banks can now offer loans to non-residents and issue standby letters of credit against FCNR(B) deposits under the RBI's swap facility. This regulatory clarity from the central bank allows Indian banks, including overseas branches, to lend to non-residents who then place these funds as FCNR(B) deposits, serving as collateral. This…

The Economic Times

Explained | What is the 'Boss Scam' and how hackers are using CEOs' WhatsApp accounts to steal money

A sophisticated 'Boss Scam' is targeting Indian companies, with cybercriminals hijacking executives' WhatsApp accounts to authorise fraudulent payments. These attackers impersonate regulators, tricking leaders into downloading malware that grants access to their communication. Employees are then instructed to make urgent transfers, exploiting trust and fear.

The Economic Times

CBI arrests senior IAS officer Pankaj Aggarwal in ongoing alleged IDFC First Bank fund misappropriation case

The Central Bureau of Investigation (CBI) has arrested Pankaj Aggarwal, IAS on Monday who was the then Principal Secretary in Department of School Education and Agriculture, in connection with the misappropriation of government funds from the account of Haryana School Shiksha Pariyojna Parishad (HSSPP) and Haryana State Agriculture Marketing Board…

The Economic Times

Best gilt mutual funds to invest in June 2026

Gilt funds are being recommended by advisors for 'aggressive' debt investors anticipating interest rate cuts by the RBI, with potential for double-digit returns. These funds, investing in government securities, carry no credit risk but are highly sensitive to interest rate fluctuations. Investors should have a long-term horizon and understand rate…

The Economic Times

RBI sold net $8.9 billion in April, gold holdings unchanged

The Reserve Bank of India engaged vigorously in the forex market in April, offloading a net amount of $8.94 billion to protect the rupee from plunging to record lows caused by the U.S.-Iran crisis and increasing oil costs. While gold stocks stayed stable, improving geopolitical conditions have bolstered the rupee's…

The Economic Times

RBI flags rising fuel-price pressures amid West Asia war, says crude is easing as Hormuz fears recede

The Reserve Bank of India has highlighted rising fuel prices and a dip in consumer confidence due to West Asian conflict, despite a recent drop in crude oil costs. While inflation edged up in May, driven by broad-based price increases, the Indian economy remains resilient with sustained activity. However, manufacturing…

The Economic Times

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The Economic Times

MSMEs nursery of entrepreneurship, key to Viksit Bharat vision: RBI Guv Sanjay Malhotra

RBI Governor Sanjay Malhotra lauded MSMEs as crucial for India's growth, highlighting their role in entrepreneurship and employment. He noted strong credit growth in Kerala's MSME sector and detailed RBI's initiatives to bridge credit gaps, including enhanced collateral-free loans and the Trade Receivables Discounting System. Banks were urged to partner…

The Economic Times

Entire political science of data doctoring: Congress slams govt on rural wage figures

The Congress party has accused the Modi government of artificially inflating rural wage growth figures. According to Congress general secretary Jairam Ramesh, a methodological change in data collection, including new regions with higher wages, has created a fabricated "rural wages boom." He claims this masks the reality of stagnant real…

The Economic Times

MSMEs are India's entrepreneurship nursery, RBI to continue strong support: Governor Malhotra

Emphasising the Reserve Bank of India (RBI) continued committment to the MSME sector, RBI Governor Sanjay Malhotra on Sunday described Micro, Small and Medium Enterprises (MSMEs) as India's "entrepreneurship nursery" and said the central bank will continue to extend strong support to the segment.

The Economic Times

RBI overhauls Lead Bank Scheme after review, issues new guidelines

The Reserve Bank of India has revamped the Lead Bank Scheme to boost district-level credit planning and financial inclusion. New guidelines, released on June 19, aim to enhance credit flow to priority sectors and improve access to financial services. A three-tier committee structure has been introduced to strengthen coordination between…

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The Economic Times

RBI expected to hold repo at 5.25% as uncertainty eases, will watch food and fuel pass-through: BofA Securities

The Reserve Bank of India is expected to maintain its wait-and-watch stance and keep the repo rate at 5.25 per cent in coming meetings as the US-Iran peace agreement reduces geopolitical uncertainty, while it monitors food and fuel price pass-through before acting, BofA Securities said in a note on the…

The Economic Times

Parliament panel to review India's economy amid global turmoil and growth concerns

A key parliamentary committee will scrutinise India's evolving economic landscape in 2025-26, amid global conflicts and trade uncertainties. The Standing Committee on Finance will examine growth, inflation, employment, and investment, seeking insights from the Finance Ministry, RBI, and experts. This crucial study comes as India navigates geopolitical tensions and aims…

The Economic Times

RBI looks to revive NRI deposit growth through FCNR(B) route, NRO accounts grow fastest: Bank of Baroda report

The Reserve Bank of India's latest measures to attract foreign currency deposits could help revive NRI inflows after growth stalled in FY26, while a parallel shift is underway within the deposit base as NRO accounts emerge as the fastest-growing segment, according to a Bank of Baroda research report.

The Economic Times

RBI revises Kisan Credit Card norms, standardises crop season definition

The Reserve Bank has revamped the Kisan Credit Card (KCC) Scheme, standardizing crop season definitions for uniform loan sanctions and repayments. Effective January, new directions aim to streamline credit support for agriculture and allied activities. Banks must waive collateral for loans up to Rs 2 lakh, with exceptions for voluntary…

The Economic Times

ED case against five Bengaluru-based entities for 'unauthorised' cross-border crypto transactions

The Enforcement Directorate has initiated a FEMA probe into five companies located in Bengaluru for their alleged involvement in unauthorized cross-border transactions amounting to Rs 2,500 crore through cryptocurrency. Investigations uncovered significant regulatory evasion via online ads promoting immediate fiat-to-crypto swaps and the establishment of shell companies. Consequently, the ED…

The Economic Times

South Indian Bank raises FCNR deposit rate to 6.5 pc after RBI swap window

South Indian Bank has boosted interest rates on US dollar deposits for Non-Resident Indians to 6.5% per annum for 3-5 year tenures. This move follows the RBI's new USD/INR forex swap facility, enabling banks to secure stable foreign currency while managing exchange risks. The attractive returns offer NRIs a chance…

The Economic Times

RBI MPC member Nagesh Kumar flags import dependence, Gulf remittances, El Nino risks in minutes

India faces significant economic risks from the West Asia conflict, including potential disruptions to oil and fertilizer imports via the Strait of Hormuz and reduced remittances from the Gulf. El Niño-induced monsoon failures also pose a threat to agriculture. Despite these vulnerabilities, the nation's strong foreign exchange reserves and fiscal…

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