Tag: rbi

After selling financials worth over Rs 30,000 crore in January and nearly Rs 10,000 crore in February, Foreign Institutional Investors (FIIs) turned into net buyers in the sector in March. However, they resumed selling in April, with last month\’s selling amounting to around Rs 9,300 crore.

Varma also expressed \”great concern\” over a projected slowdown in India\’s growth this year, adding that the latest flare-up in the Middle East had not changed his argument for a rate cut.

The full impact of the Reserve Bank of India\’s (RBI) increase in risk weights on consumer credit for banks and NBFCs, which was announced in November last year, is also likely to be felt this quarter impacting profitability and growth for small-ticket loans for personal consumption.

India’s oil purchases from Russia jumped after the war as New Delhi purchased discounted crude. The share of Russian oil in India’s total imports rose to 35% in 2023-24 from 23% in the previous year, according to energy cargo tracker Vortexa.

Finance ministry stresses rigorous KYC and due diligence to prevent financial frauds, focusing on data security, safeguarding the financial ecosystem, and blocking fraudulent micro ATMs. Recommendations were discussed at an inter-ministerial meeting.

How about leaving a tip in rupees at a beach bar in Pattaya or a spa in Bangkok? Well, that could be a reality if India can pull off a currency deal with Thailand, which has emerged as one of the preferred destinations for holidays, conferences and corporate offsites, especially since the visa relaxation last year.