India’s foreign exchange reserves dropped significantly last week. Gold prices fell, impacting the overall reserves. The Indian Rupee also weakened against the US Dollar. Oil prices rose due to geopolitical concerns. The Reserve Bank of India’s intervention in the currency market was limited. Traders anticipate further Rupee depreciation, with some forecasting levels around 100 against...Read More

The yield on India’s 10-year government bond rose sharply Friday. This increase follows a cut in fuel excise duty which impacted the fiscal outlook. High state bond sales and rising oil prices also contributed to the jump. The benchmark yield has seen its biggest weekly rise since May 2022.Read More

The Reserve Bank of India’s Payments Vision 2028 introduces a shared liability model for unauthorized digital transactions, placing responsibility on both customer and beneficiary banks. This aims to boost fraud detection and inter-bank coordination. The RBI also plans to expand the ‘switch on/off’ feature, currently for cards, to all digital payment modes, empowering users and...Read More

The Reserve Bank of India has mandated all market participants, both resident and nonresident, to obtain a valid Legal Entity Identifier (LEI) code. Entities without an LEI will be ineligible for transactions in RBI-regulated financial markets. Participants in the over-the-counter derivative market must also secure a unique transaction identifier.Read More

The Indian rupee hit a record low against the dollar, breaching 94 and nearing 95, as rising crude oil prices fueled fears of a prolonged Gulf war. Indian equities also suffered significant declines, marking a fifth consecutive week of losses. Analysts warn of further depreciation for the rupee if the conflict persists and central bank...Read More

The Reserve Bank of India has set a new limit for banks on their foreign currency dealings in the rupee. This move aims to control speculative trading and stabilize the Indian currency. Banks must now keep their open positions within 100 million US dollars each day. This regulation comes as the rupee faces pressure and...Read More

Doha Bank is exiting its branch operations in India. The Qatari bank will close its Mumbai and Kochi branches after more than a decade. It will now operate solely through a representative office in the country. This strategic shift was approved by the bank’s board of directors. Doha Bank had launched its India operations in...Read More

U.S. stocks plunged Friday, with major indexes hitting over six-month lows as the Middle East war suppressed risk appetite. Megacap and software stocks led the decline, while rising oil prices fueled inflation fears and dampened rate cut expectations. Markets now anticipate potential Fed rate hikes.Read More

Online ​furniture ​rental platform ​Rentomojo has filed for an initial ‌public ⁠offering ⁠in ​Mumbai, according to a ​draft prospectus dated Friday.Read More

Reliance Industries Ltd. is planning a massive IPO for its telecom arm, Jio Platforms Ltd. The company is setting investment banking fees at a competitive 0.65% of the issue size. This move is in line with the National Stock Exchange of India Ltd.’s proposed fees. The Jio IPO could be India’s largest ever.Read More