Bears dominated the stock market again on August 8, as India’s key indices, Nifty and Sensex, closed lower. A significant drop in IT and Metal stocks contributed to the negative sentiment. At the close, the Sensex fell by 581.79 points or 0.73%, ending at 78,886.22. Meanwhile, the Nifty dropped by 180.50 points or 0.74%, finishing…
Advanced Stage of RBI’s Vetting Process for IDBI Bank Sale The Reserve Bank of India’s (RBI) review of potential bidders for IDBI Bank’s stake sale is progressing well, as reported by Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management (DIPAM). This development marks a significant step in the strategic disinvestment…
The Reserve Bank of India (RBI) is expected to transfer a dividend of between Rs 85,000 crore and Rs 1 lakh crore to the government for FY25, driven by anticipated higher interest income from foreign securities, according to economists. The RBI’s board is meeting today to finalize the dividend payout. Budgeted and Revised Estimates The…
RBI Holds Key Interest Rate Steady at 6.5% in February Monetary Policy In its February monetary policy meeting, the Reserve Bank of India (RBI) opted to maintain the key interest rate at 6.5 percent. This decision came amidst ongoing concerns surrounding inflationary pressures and economic uncertainties. Cautious Outlook on Inflation by RBI MPC Members The…
The RBI’s recent decision to maintain the repo rate at 6.5% has significant implications for home loan borrowers. Let’s delve into how this decision affects EMIs and explore strategic options for managing your home loan effectively. Unchanged EMIs Amidst Repo Rate Stability The Reserve Bank of India (RBI) has chosen to maintain the repo rate…
The Reserve Bank of India (RBI) has taken a significant stride in shaping the landscape of dividend declarations by banks. In a recent development on January 2, the RBI released draft norms, offering a comprehensive framework outlining the eligibility criteria and guidelines for board oversight in the process. Evolution of Guidelines Previously, banks declared dividends…
In the ever-evolving financial landscape of India, the nation’s central bank is determined to empower account holders with the fruits of higher interest rates. The Reserve Bank of India (RBI) is advocating for an upward revision of savings deposit rates, but it appears that banks, with an eye on fortifying their profit margins, are not…
