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When India opened its economy to international investment in 1991, Manmohan Singh, then the country’s finance minister, promptly allayed concerns that this may harm Local industries. In his infamous budget that year, Singh stated, “We must not stay enslaved to a dread of the East India Company as if nothing has changed in the past…
On Monday, the Multi Commodity Exchange (MCX) saw gold prices leap to an intraday record as investors flocked to safe-haven assets in the wake of the US and European banking crises. The price of the precious metal increased to 60,455 per 10 gm (excluding 3% GST) on the MCX, while it reached a 31-month high…
In New Delhi: Notwithstanding global challenges, the Indian economy is predicted to expand by 7% in FY23, and retail inflation would reduce in line with wholesale inflation, which dropped to a 25-month low in January, the Finance Ministry stated on Monday. India’s current account deficit is expected to decrease in FY23 and FY24, protecting the…
Fixed deposit (FD) interest rate: In FY23, bank FD interest rates increased from roughly 5.5% to an average of 7%. Owing to the high interest rate regime that Governor Shaktikanta Das of the Reserve Bank of India (RBI) had to enact in order to control inflation. Nonetheless, in this environment of high interest rates, some…
SVB collapse: With the start of the Silicon Valley Bank (SVB) crisis, the equities market experienced a sharp sell-off. Yet, the SVB problem is evolving into a US banking crisis as a few additional institutions, including Signature Bank, First Republic Bank, and others, have had financial difficulties. In fact, Credit Suisse, the second-largest Swiss bank…
In NEW DELHI: On Friday, the government declared that the disinvestment of IDBI Bank is proceeding according to the established strategic sale mechanism.The Department of Investment and Public Asset Management (DIPAM) refuted media reports that suggested there might be a potential of delaying the disinvestment of IDBI Bank and stated that the stake sale is…
Between May 2022 and February, the Reserve Bank of India (RBI) increased the repo rate, which is used to communicate interest rates in the economy, by 2.5%. If we merely consider this data point of 2.5%, it could not mean much. It is significant, though. This is substantially faster than the preceding rate cycles, according…
The rupee is anticipated to experience more pressure due to the risk-off attitude on global markets brought on by the Credit Suisse disaster. The domestic currency decreased slightly towards 82. 79 in postmarket transactions after closing at 82. 61 on Wednesday’s interbank foreign exchange market.According to bankers, since issues have been percolating within the banking…
