India joins Wassenaar Arrangement

India has joined the Wassenaar Arrangement after completing the internal procedures. The membership will facilitate high-technology tie-ups for country's defence and space programmes. India has become the arrangement's 42nd participating State. In a tweet, External Affairs Minister...

India's foreign exchange reserves increases by $1.2 billion

India's foreign exchange reserves increased by 1.2 billion US Dollar to touch a record high of 401.942 billion US Dollar in the week ended 1st December 2017. A Reserve Bank of India release said that foreign currency assets rose by 1.151 billion to 377.456 billion US Dollar. In the previous...

Govt fixes issue price of Sovereign Gold Bond

The government has fixed the issue price of Sovereign Gold Bond (SGB) at 2,890 rupees per gram for the next subscription period under Sovereign Gold Bond Scheme 2017-18. The next subscription period is 11th to 13th of this month. Finance Ministry in a statement said, the government had floated Serie...

15th Finance Commission Chairman N K Singh meets Urjit Patel; discuss technical and other assistance in the matters relating to overall finances

Domestic private jets will not need DGCA nod for overseas flights now

Domestic private jet operators will no longer need clearance from the aviation regulator for overseas flights, as the government has decided to do away with the requirement. This move is being seen as a step to boost ease-of-doing business. Rohit Kapoor, President of the Business Aircraft Operators ...

Domestic stock markets stage impressive rally; Sensex spurts 352 points

The domestic stock markets staged an impressive rally, today, but the rupee ended slightly weaker against the dollar.The Sensex at the Bombay Stock Exchange spurted 352 points, or 1.1 percent, to close at 32,949, on all-round buying by investors. The Nifty at the National Stock Exchange surged 123 p...

Govt ropes in ICICI Bank to enable cashless payments on e-NAM

The government has engaged private lender ICICI Bank to enable online payments at 470 mandis integrated with the national portal of electronic National Agriculture Market (e-NAM). At present, e-NAM participants are doing payments through traditional ways via bank branches, debit cards and net bankin...

RBI rationalises charges on debit card transactions

In order to promote digital payments, RBI has come out with differentiated merchant discount rates (MDR) for debit card transactions, prescribing separate caps for small and large traders. MDR is the rate charged to a merchant by a bank for providing debit and credit card services.As per the latest ...

Rupee declines by 5 paise to 64.57 against US dollar

The rupee declined by 5 paise to 64.57 against the US dollar at the interbank foreign exchange today due to higher demand for the American currency from importers and banks amid sustained foreign fund outflows.The rupee had lost 14 paise to end at 64.52 against the US dollar yesterday after RBI deci...

Reserve Bank of India keeps repo rate unchanged at 6%