India’s forex reserves dropped by $1.24 billion to $691.49 billion for the week ended May 30, the RBI said on Friday. Photograph: Dado Ruvic/Reuters The overall reserves had jumped by $6.99 billion to $692.72 billion in the previous reporting week.
The Reserve Bank of India (RBI) cut interest rates by more than expected 50 basis points on Friday, a third consecutive reduction, and unexpectedly reduced the cash reserve ratio for banks to provide a major liquidity fillip to support the
Reserve Bank on Friday decided to cut Cash Reserve Ratio (CRR) by a huge 1 per cent, which will unlock Rs 2.5 lakh crore liquidity to the banking system for lending to productive sectors of the economy. Illustration: Uttam Ghosh/Rediff
Flipkart has received a lending licence from the Reserve Bank of India (RBI), the Walmart-backed ecommerce company confirmed on Thursday. Photograph: Abhishek N Chinnappa/Reuters The nod came in March this year, according to sources. When contacted about the grant of
India has always led in developer talent and now has a strong opportunity to lead in AI talent, OpenAI Global Chief Strategy Officer (CSO) Jason Kwon said on Thursday as the ChatGPT-maker launched OpenAI Academy in partnership with IndiaAI Mission.
Benchmark equity indices Sensex and Nifty ended higher on Thursday, driven by buying in blue-chip stocks ICICI Bank and Reliance Industries amid fresh foreign fund inflows and firm global market trends. Illustration: Dominic Xavier/Rediff Rising for the second straight day,
New investor additions by mutual funds (MFs) have slowed dramatically in recent months, indicating that market correction and a rise in volatility are somewhat dimming the appeal of equity schemes. Illustration: Dominic Xavier/Rediff MFs have onboarded 300,000 new investors in
Benchmark stock indices Sensex and Nifty ended higher on Wednesday after three days of decline, tracking a rally in global markets. Photograph: ANI Photo Buying in blue-chips Reliance Industries and HDFC Bank also added optimism to markets recovery. The 30-share
Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), which sells dairy products, has launched Amul Milk in Spain. Photograph: Amit Dave/Reuters In a statement on Wednesday, the GCMMF announced “its partnership with Cooperativa Ganadera del Valle de los Pedroches (COVAP), Spain’s
The government has not made any amendments to the foreign direct investment (FDI) policy for countries sharing land border with India, sources said on Wednesday. Illustration: Uttam Ghosh/Rediff In 2020, the government issued Press Note 3 under which investors from
