Mumbai: Reserve Bank Governor Sanjay Malhotra Friday said the forex reserve stood at a healthy USD 682.3 billion, adequate to provide import cover for about 11 months. Various policy initiatives are expected to strengthen the balance of payments, he said while announcing the second bi-monthly monetary policy for the current fiscal. The initiatives include the recent agreements...

Mumbai: Reserve Bank Friday projected the retail inflation for 2026-27 at 5.1 per cent, higher from its earlier estimate of 4.6 per cent, largely due to mounting input costs, triggered by the pass-through of higher global energy prices to retail rates of petrol and diesel. Since May, retail fuel prices have been raised cumulatively by 7.4 per...

Mumbai: The Reserve Bank of India (RBI) Governor Sanjay Malhotra Friday announced that the limits for investment by NRIs and OCIs in equity instruments traded on the stock market without SEBI registration are being increased. Further, the same facility is being extended to all individual Persons Resident Outside India (PROIs) at par with NRIs and OCIs, he...

Mumbai: The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) Friday unanimously decided to keep the policy repo rate unchanged at 5.25 per cent, in line with the expectations from economists. The Standing Deposit Facility (SDF) rate was set at 5 per cent, while the Marginal Standing Facility (MSF) rate and the bank rate stood at...

New Delhi: In a bid to attract dollar inflow, the government has scrapped long-term capital gains tax on investments made by foreign institutional investors (FIIs) in government securities through an Ordinance issued Friday. The Ordinance has brought changes in the Income Tax Act to provide the exemption. The government has decided to remove the capital gains tax...

Mumbai: The Reserve Bank Friday lowered its GDP forecast for FY2026-27 to 6.6 per cent from the 6.9 per cent estimated in April, citing elevated energy and other commodity prices as well as continued supply disruptions arising from the conflict in West Asia, which are likely to weigh on economic activity. The central bank also said that...

Mumbai: The rupee appreciated 50 paise to 95.24 against the US dollar Friday after the RBI liberalised norms for FPI investment in government securities. Forex traders said the announcements in the RBI policy boosted investor sentiments after the apex bank asserted that the country's forex reserves provide a sufficient buffer against external shocks. At the interbank foreign...

Bengaluru: Congress leader Ramalinga Reddy Friday announced that he will tender his resignation from the post of minister, expressing displeasure over allocation of portfolio. The minister said that he was promised the Bengaluru Development portfolio but was made minister for Major and Medium Irrigation projects. The resignation comes after Chief Minister D K Shivakumar allotted the portfolios...

New Delhi: BJP National President Nitin Nabin Friday accepted the resignation submitted by former Tamil Nadu BJP state president K. Annamalai from the primary membership of the party. This was confirmed by Arun Singh, National General Secretary and Headquarters In-charge of the party in a press release. "The National President of the Bharatiya Janata Party, Hon'ble Shri...

St Petersburg: Russian President Vladimir Putin Thursday said that Moscow will not interfere in the "delicate" bilateral relations between India and China, expressing confidence that both New Delhi and Beijing are committed to resolving their long-standing boundary disputes amicably. In a wide-ranging interaction with the heads of major global news agencies, Putin praised both Prime Minister Narendra...