Business

January 4, 2020 8:11 AM

India's Forex reserves touch all time high of 457.468 billion

India's foreign exchange reserves swelled by 2.520 billion USD to touch a record high of 457.468 billion USD in the week that ended on 27th December 2019.  An RBI press release has informed that foreign currency assets, a major part of the overall reserves rose by 2.203 billion USD to 424.9...

January 3, 2020 2:24 PM

Oil prices surge after reports of US killing top Iranian General

Oil prices today soared more than two per cent following news that the US had killed a top Iranian General, fanning fresh fears of a conflict in the crude-rich region. The head of Iran's Quds Force, Qasem Soleimani, was hit in an attack on Baghdad's international airport early toda...

January 2, 2020 2:33 PM

Bajaj Auto slips after weak December sales

Bajaj Auto, today, reported a 3 percent, year-on-year, decline in total sales at 3.36 lakh units in December 2019. Total domestic sales slipped 15 percent, at 1.53 lakh units in the same month last year. Domestic Motorcycle sales plummeted 21 percent, to 1.24 lakh units last month. But exports rose ...

January 2, 2020 2:24 PM

Gold imports dip 7% in April-November to 20.6 billion

India's gold imports fell about 7 percent, to 20.6 billion dollars during April to November period of the ongoing financial year, according to the commerce ministry data. Imports of the yellow metal stood at 22.2 billion dollars in the same period of the previous fiscal. The decline in gold...

December 31, 2019 8:18 AM

RBI buys Rs 10,000 cr worth long-term govt securities in 2nd special OMO

In the second special open market operation (OMO), the Reserve Bank of India on Monday day bought 10,000 crore rupees of long-term government securities and sold 8,501 crore rupees of three short-term bonds. The RBI had announced to purchase and sell simultaneously government securities under Open M...

December 30, 2019 4:28 PM

SBI cuts external benchmark-based rate by 25 bps

The country's largest lender, State Bank of India, today announced a reduction in its external benchmark-based rate by 25 basis points to 7.80 per cent from 8.05 per cent. The Reserve Bank of India has adopted the Repo rate to be the External Benchmark rate. And the Repo rate is the interes...

December 28, 2019 2:38 PM

RBI directs large co-op banks to report exposures above Rs 5 cr

The Reserve Bank of India (RBI) has directed large cooperative banks to report all exposures of 5 crore rupees and more to the Central Repository of Information on Large Credits (CRILC). The move is aimed at early detection of financial distress. The Reserve Bank has created a CRILC of commercial ba...

December 24, 2019 6:31 PM

Rupee depreciates by nine paise against dollar

The rupee today depreciated by nine paise to close at 71 rupees and 27 paise against the US dollar. The domestic unit weakened amid heavy selling in domestic equities and steady rise in crude oil prices.

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