The Indian rupee, having witnessed slight relief late last week, is likely to come under renewed strain on Monday on the back of a further rise in U.S. Treasury yields. The 1-month non-deliverable forward indicate that the rupee will open at 84.82-84.83 to the U.S. dollar compared with its previous close of 84.7875. The local … Read more
Gold prices inched higher on Monday as investors anticipated a potential interest rate cut by the Federal Reserve this week, with focus on the central bank's language on rate cuts next year. Spot gold was up 0.1% to $2,652.07 per ounce as of 0155 GMT. Meanwhile, U.S. gold futures slipped 0.2% to $2,670.90. "A 25 … Read more
Indian shares are likely to open little changed on Monday, in line with Asian peers, starting the week with a focus on the U.S. Federal Reserve's policy meeting later this week and the imminent 25-basis-points interest rate cut. The Gift Nifty futures were trading at 24,776, as of 8:10 a.m. IST, indicating that the benchmark … Read more
While Surat has long been known for its textile, diamond and solar panel industry, the city will now be also known for the semiconductor industry, Union Jal Shakti Minister C.R. Patil said on Sunday. He said this while inaugurating the Suchi Semicon, a Gujarat-based semiconductor company’s first Outsourced Semiconductor Assembly and Testing (OSAT) plant in … Read more
A leader is one who doesn't think of the moment, he thinks of the future, said Vice President Jagdeep Dhankhar on Sunday, urging corporates to invest in education. Speaking at the Jiwaji University, Gwalior, Dhankhar hailed Maharaja Shrimant Jiwajirao Scindia’s vision for education and said, “The Late Maharaja, with extraordinary energy and unwavering commitment, embodied … Read more
Public Sector Banks (PSBs) in India registered their highest-ever aggregate net profit of Rs 1.41 lakh crore in the financial year 2023-24, the Ministry of Finance said on Sunday. The gross non-performing assets (GNPA) ratio steeply declined, dropping to 3.12 per cent in September 2024. Demonstrating continued momentum, they registered a net profit of Rs … Read more
The US accounted for 18 per cent of India's total exports in the financial year (FY) 24, as the country's exports to the world's largest economy continuously increased, a report said. Bank of Baroda's report said that India's exports to the US are growing steadily. Its value was $77.5 billion in FY24. India's exports to … Read more
A blend of global and domestic factors will influence the stock market outlook for next week. On the global front, particularly the performance of US markets and the Fed's monetary policy decisions will play a significant role; and domestic economic indicators like GDP growth, FIIs and inflation will shape market sentiment. Last week, Indian stock … Read more
More than 21 crore people have benefited under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) scheme that provides life insurance coverage, said the Ministry of Finance. The PMJJBY, launched in May 2015 is a term life insurance plan. Under this scheme, in case of death due to any reason, the family of the insured … Read more
The gross non-performing asset (NPA) ratio for scheduled commercial banks (SCBs) have improved significantly with a reduction to 2.67 per cent in June 2024 from 11.18 per cent in March 2018, according to the government. Moreover, SCBs recorded highest-ever aggregate net profit of Rs 23.50 lakh crore in FY2023-24, against net profit of Rs 22.63 … Read more
