MUMBAI: The Reserve Bank of India (RBI) will boost ongoing efforts toward the internationalisation of the rupee by bringing regulatory changes for non-residents while taking steps to bolster the GIFT City’s appeal vis-à-vis other international financial centres. “Efforts are underway toward internationalisation of the Indian Rupee (INR) through settlement...
MUMBAI: From adoption of the expected credit loss (ECL) model for asset classification to a comprehensive review of loan rates, the Reserve Bank of India (RBI) will be announcing far-reaching regulatory measures in 2024-25 (FY25) for the financial sector with a view to making regulations “more principle-based, actively-oriented and...
NEW DELHI: The R&D spends of Indian firms are growing faster than global firms albeit on a low base, said a latest report by Foundation for Advancing Science and Technology (FAST India). The study pointed out that the Indian firms have reported higher growth in R&D spends than global...
SINGAPORE: The United Arab Emirates is looking to expand the scope of trade and services covered under the Comprehensive Economic Partnership Agreement (CEPA) with India to further accelerate bilateral trading volume, a senior UAE official said here on Thursday. India and the UAE signed the historic CEPA on February...
NEW DELHI: India’s peak electricity demand touched a new high of 250 GW on Thursday as the temperatures rose across states, according to data provided by the power ministry. At this level, the peak power demand had already crossed last year’s peak of 243.3 GW recorded in September. Meanwhile,...
MUMBAI: Hiring of women for leadership roles has increased to 23.2 per cent across sectors in early 2024 even though employers are yet to achieve gender parity in top management, a report said on Thursday. Women leadership hires have shown significant growth over the years to 23.2 per cent...
MUMBAI: The number of frauds in the banking sector went up to 36,075 in 2023-24 year-on-year, but the amount involved reduced by 46.7 per cent to Rs 13,930 crore, according to the Reserve Bank’s annual report released on Thursday. The RBI report also said that with an aim to...
NEW DELHI: Markets regulator Sebi on Thursday significantly reduced the time taken by stock exchanges for granting approval to stock brokers for internet-based trading to seven days from the current 30 days. The move is aimed at facilitating ease of doing business. Under the rule, the broker is required...
MUMBAI: The size of Reserve Bank’s balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank’s annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs...
MUMBAI: The Insurance Regulatory and Development Authority of India (Irdai) on Wednesday released a master circular on health insurance specifying that an insurer will have to decide on cashless authorisation within an hour of its request, a move aimed at boosting cashless initiatives. Insurance companies have been given time...
MUMBAI: Continuing its scrutiny of banks and other financial entities, and the imposition of restrictions, the Reserve Bank of India (RBI) on Wednesday barred Edelweiss Asset Reconstruction Company (EARCL) from acquiring financial assets. It also directed ECL Finance not to undertake any structured transactions for its wholesale exposures. The...
NEW DELHI: The current state of the labour market in India depicts the presence of low to moderate “underemployment”, a paper by the statistics ministry said on Wednesday, in an official acknowledgement of the dismal jobs scenario in the country. The paper measures underemployment using a multidimensional approach, and...
NEW DELHI: Nearly every one in five workers employed in the organised non—farm establishments in the first half of FY23 was a contractual hire, according to the latest Quarterly Employment Survey (QES) results released by the Labour Bureau. According to the report released on Tuesday, the share of contractual...
MUMBAI: Unclaimed deposits with banks have witnessed a 26 per cent jump year on year to Rs 78,213 crore at the end of March 2024, as per the RBI Annual Report released on Thursday. The amount with the Depositor Education and Awareness Fund stood at Rs 62,225 crore at...
MUMBAI: Cost of living in a particular city does not influence the compensation packages for talent, a survey of recruitment leaders undertaken by a consultancy firm revealed. Around 95 per cent of human resources leaders and talent acquisition heads from 40 companies across 10 sectors said “cost-of-living differences across...
NEW DELHI: For fresh graduates looking to enter the job market, skills like design, analytics and programming can open up a wealth of career opportunities, according to the leading professional network LinkedIn. Software Engineer, System Engineer and Programming Analyst are the top jobs for bachelor’s degree holders, as per...
NEW DELHI: S&P Global Ratings on Wednesday upgraded India’s sovereign rating outlook to positive from stable while retaining the rating at ‘BBB-’ on robust growth and improved quality of government expenditure. S&P said it could upgrade India’s sovereign rating in the next 2 years if the country adopts a...
MUMBAI: Reserve Bank Deputy Governor Swaminathan J has expressed concern over the increasing regulatory violations and warned Asset Reconstruction Companies (ARCs) to ensure compliance without needing the regulator to point out the issues to them. Addressing a conference attended by top management of ARCs in the country on May...