The Reserve Bank of India (RBI) has reached a historic milestone in its foreign exchange management, with net short positions in the dollar forward book touching $77.5 billion as of January 31, 2024. According to a recent news report, these short positions, which are primarily in the 3-month to 1-year tenure, amount to $30.6 billion. …
India has emerged as the 4th-largest hub for High Net-Worth Individuals (HNWIs) globally, with 85,698 individuals holding investable assets exceeding ₹8.69 crore (US$ 1 million), according to a Global Wealth Report. The country follows the United States, China, and Japan in terms of wealth concentration. At the ultra-high-net-worth level, individuals with over ₹869 crore (US$ …
India’s capital markets regulator, the Securities and Exchange Board of India (SEBI), has been actively working to curb high-risk derivatives trading among retail investors. Over the past year, a series of regulatory measures have been introduced to reduce excessive speculation in the futures and options (F&O) segment. The impact of these regulations is now becoming …
The Employees’ Provident Fund Organisation (EPFO) has introduced significant changes to the profile update process for its members. Under the revised rules, EPF members can now update their Aadhaar-linked Universal Account Number (UAN) details without uploading supporting documents. This update is expected to reduce delays and simplify the correction process for millions of EPF account …
The Reserve Bank of India (RBI) has announced liquidity-enhancing measures, including open market operations (OMOs) worth ₹1 lakh crore and a USD/INR buy/sell swap auction of $10 billion. These initiatives aim to stabilise liquidity in the banking system amid fiscal year-end pressures and increasing credit demand. Breakdown of the OMO and Forex Swap Measures To …
Tesla, the US-based electric vehicle (EV) giant, has taken a major step towards entering the Indian market by securing a lease for its first showroom in Mumbai. According to a report, Tesla has signed a 5-year lease agreement, marking a renewed effort to establish a presence in India after previous plans were put on hold. …
The Gujarat International Finance Tec-City (GIFT City) has emerged as a key investment hub for the Indian diaspora, with funds flowing in from Non-Resident Indians (NRIs) and People of Indian Origin (PIOs). According to the International Financial Services Centres Authority (IFSCA) chairman, Mr. K Rajaraman, investments in GIFT City-based funds have now surpassed ₹60,998 crore …
The Union Budget 2025 has introduced several important amendments to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) regulations, effective from April 1, 2025. These changes are designed to reduce unnecessary complexities in tax deduction and collection, offering relief to common taxpayers, traders, and businesses. The modifications primarily focus on raising deduction …
The Reserve Bank of India (RBI) has appointed Dr. Ajit Ratnakar Joshi as its Executive Director (ED), effective March 3, 2025. The central bank announced the appointment on March 5, 2025. Role and Responsibilities In his new role, Dr. Joshi will oversee the Department of Statistics and Information Management (DSIM) and the Financial Stability Department. …
India’s credit card industry is witnessing a slowdown, with disbursement growth hitting a 4-year low. January 2025 saw a decline in total spending and a reduction in the number of credit cards in circulation. While major banks still dominate the market, cautious consumer sentiment and market saturation are becoming evident. Credit Card Sector Faces Slowdown …
