Mumbai: In a significant move to boost economic growth, the Reserve Bank of India (RBI) has cut the repo rate by 25 basis points, bringing it down to 6.25%. This marks the first rate reduction since May 2020, when the central bank slashed the rate by 40 basis points to 4% amid the COVID-19 crisi Read More…
The Union Cabinet is expected to approve the much-anticipated Income Tax Bill tomorrow, setting the stage for its introduction in Parliament next week. Announced by Finance Minister Nirmala Sitharaman during the Union Budget 2025-26, the bill aims to modernize and simplify India’s direct tax system. Often referred to as the Direct Tax Code, the proposed Read More…
The Indian rupee plunged to a record low, closing at 87.4650 against the US dollar on Wednesday, marking a 0.4% decline in a single day. The sharp depreciation is driven by growing expectations of an imminent interest rate cut by the Reserve Bank of India (RBI) and the triggering of stop-loss orders in the forex Read More…
Sanjay Malhotra, who took office as the Reserve Bank of India (RBI) Governor in December 2024, is expected to shift the RBI’s monetary policy towards a more growth-friendly stance. This marks a departure from his predecessor, Shaktikanta Das, who focused on controlling inflation with higher interest rates for the past two years. Under Malhotra’s leadership, Read More…
Kochi: Gold prices continue their meteoric rise, shattering previous records and edging closer to the ₹63,500 mark. After breaching ₹63,000 per sovereign yesterday, prices climbed further by ₹200 today, reaching ₹63,440 per sovereign. The per-gram price also saw a ₹25 jump, now standing at ₹7,930. The surge is driven by investors flocking to gold as Read More…
Mumbai: The Indian Rupee, which showed signs of recovery yesterday, slipped again today, losing 9 paise in early trading. The rupee is currently trading at 87.16 against the US dollar. The ongoing trade war between the US and China, where both nations have imposed tariffs on each other, continues to influence the rupee’s movement. Yesterday, Read More…
The Indian rupee hit a new record low of 87.29 against the US dollar on February 3, 2025, as concerns over a global trade war fueled a surge in the greenback. The sharp depreciation follows US President Donald Trump’s decision to impose new tariffs on imports from Mexico, Canada, and China, further escalating trade tensions Read More…
From February 1, 2025, UPI transactions will be blocked for apps that use special characters in transaction IDs, following new guidelines issued by the National Payments Corporation of India (NPCI). The move is aimed at boosting security, streamlining payments, and reducing fraud risks by enforcing a standardized format for transaction identification. Banks and payment providers Read More…
Kochi: Gold prices in Kerala have soared to an all-time high, with one sovereign (8 grams) now priced at ₹60,760, reflecting a ₹680 increase. The price of one gram of gold has risen to ₹7,595, marking a ₹85 jump. Despite a slight dip in the past two days, gold rates continue to remain above the Read More…
NITI Aayog’s latest Fiscal Health Index (FHI) has flagged Kerala as one of the most fiscally strained states in India. The index, which evaluates the financial performance of 18 major states across five parameters—Quality of Expenditure, Revenue Mobilization, Fiscal Prudence, Debt Index, and Debt Sustainability—ranked Kerala poorly due to concerns over debt sustainability and inefficient Read More…