For the first time since April 2010, India’s banking system has recorded a cash deficit of ₹3.3 lakh crore. This deficit, as measured by banks’ borrowings from the Reserve Bank of India (RBI), highlights a sharp contraction in systemic liquidity, raising concerns about borrowing costs and overall financial stability. Key Reasons Behind the Liquidity Crunch …
On January 27, 2025, the Indian rupee traded at 86.31 to the U.S. dollar, briefly touching an intra-day high of 86.30. The 1-month non-deliverable forward market indicated that the rupee would open near 86.30 compared to Friday’s close of 86.2050, reflecting subdued investor sentiment. Weekly Performance and Relief Rally Last week, the rupee posted a …
Union Minister for New and Renewable Energy, Shri Pralhad Joshi, highlighted India’s ambitious renewable energy target of 500 GW by 2030 at the Regional Review Meeting in Jaipur. Emphasising the rising power demand, expected to double by 2032, he underlined the critical role of renewable energy in the nation’s energy mix. The event brought together …
India’s foreign exchange reserves declined by $1.8 billion to settle at $623.98 billion for the week ending January 17, 2025, according to data released by the Reserve Bank of India (RBI) on Friday. Breakdown of Reserves The decline was primarily driven by a significant drop in foreign currency assets (FCA), which fell by $2.87 billion …
The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with the professional networking platform Apna to enhance talent acquisition for government-registered startups. The partnership is designed to empower startups by offering access to Apna’s hiring tools and tailored talent pools. Initiative to Offer Hiring Credits for Startups …
The Reserve Bank of India (RBI) has asked commercial banks to evaluate how new changes to the Liquidity Coverage Ratio (LCR) norms could affect their operations. This comes after concerns from banks about the stricter regulations, according to reports. Draft Norms Under Review The RBI is reviewing draft norms that are expected to come into …
On January 24, 2025, the Indian rupee opened at 86.32 and fluctuated between a high of 86.30 and a low of 86.52 during the session, pressured by the strengthening American currency and a continued outflow of foreign funds Dollar Index Trades Lower The dollar index, which measures the greenback’s strength against a basket of six …
Reliance Industries Limited (RIL), India’s largest conglomerate, has signed a Memorandum of Understanding (MoU) with the Maharashtra government to invest ₹3.05 lakh crore across multiple sectors. The investment, which spans new energy, retail, hospitality, and high-tech manufacturing, is expected to generate 3 lakh employment opportunities in the state. The agreement was formalised during the World …
India’s Ministry of Statistics and Programme Implementation (MoSPI) has announced a remarkable achievement for eSankhyiki, the country’s premier platform for statistical data dissemination. Within just 7-month of its launch in June 2024, the platform has surpassed 134 million records, highlighting India’s dedication to leveraging data for governance and policymaking. A Revolutionary Platform for Data Accessibility …
National Girl Child Day is celebrated annually on January 24 to promote awareness of girls’ rights, equality, and empowerment. Initiated by the Ministry of Women and Child Development in 2008, the day coincides with the anniversary of the launch of Prime Minister Narendra Modi’s Beti Bachao, Beti Padhao (BBBP) scheme, which began on January 22, …
