Das on why India brought back 100 mt gold from UK
The Reserve Bank of India has brought 100 metric tonnes of gold reserve from the UK to India as there is enough domestic storage capacity, and nothing more should be read into it, Governor Shaktikanta Das said on Friday. Photograph: Heinz-Peter Bader/Reuters The RBI moved 100 metric tonnes of its gold stored in the UK to domestic vaults in FY24. This is one of the biggest movements of gold undertaken by the country since 1991, when pledging a substantial part of the gold holding to tide over ...
Rediff.com, 8 min(s) ago
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RBI raises GDP growth projection to 7.2% for FY25
The Reserve Bank of India on Friday revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Photograph: Anushree Fadnavis/Reuters Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24. During 2024-25 so far, domestic ...
Rediff.com, 2 hour(s) ago
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What India Inc Expects From Modi 3.0
'In the new coalition government, India's reform agenda may prioritise job creation and factor market reforms.' Kindly note the image has been published only for representational purposes.. Photograph: ANI Photo As the Narendra Modi-led National Democratic Alliance government readies to take charge in the next few days, India Inc leaders said the focus should be on creating jobs and controlling inflation. According to a dipstick poll of 15 CEOs, infrastructure and health care sectors ...
Rediff.com, 2 hour(s) ago
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MF Platforms Faulted for Selloff Delay
Several investors wanting to invest in mutual fund schemes, amid the selloff in the market on Tuesday, were left in the lurch as online MF investment platforms failed to execute the transactions on time. Illustration: Dominic Xavier/Refiff.com Several investors wanting to invest in mutual fund (MF) schemes, amid the selloff in the market on Tuesday, were left in the lurch as online MF investment platforms failed to execute the transactions on time. According to officials at discount ...
Rediff.com, 5 hour(s) ago
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Sensex regains 75K-mark; Nifty gains 201 points
Benchmark equity indices Sensex and Nifty ended nearly 1 per cent higher on Thursday, continuing their rally for the second straight day as Prime Minister Narendra Modi is poised to form the government for the third consecutive term. Photograph: PTI Photo from the Rediff Archives Regaining the 75,000 level, the 30-share BSE Sensex jumped 692.27 points or 0.93 per cent to settle at 75,074.51. During the day, it soared 915.49 points or 1.23 per cent to 75,297.73. The NSE Nifty climbed ...
Rediff.com, 22 hour(s) ago
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ITC Hotels demerger gets shareholders nod
Diversified entity ITC on Thursday said it has received shareholders' approval to demerge ITC Hotels into a separate entity. Image: ITC Maratha, Mumbai. Photograph: Kind courtesy, ITC Hotels Shareholders of ITC, in a virtual meeting held on Thursday through video conferencing/other audio-visual means, approved the resolution for the scheme of arrangement between ITC Ltd and ITC Hotels Ltd, the Kolkata-headquartered firm said in a regulatory filing. The proposal has been approved and passed ...
Rediff.com, 19 hour(s) ago
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Vedanta demerger gets nod from majority of creditors, including SBI: Official
Mining conglomerate Vedanta Limited has received approvals from the majority of its creditors for a proposed demerger of businesses, marking an important step in the company's plan to split into six independent listed companies. Photograph: Danish Siddiqui/Reuters I am happy to let all of you know that we have received the 52 per cent plus the additional percentage, which is required for us to reach 75 per cent. We have crossed that threshold as well. Most of the lenders have approved it, ...
Rediff.com, 17 hour(s) ago
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'Second-gen promoters more open to selling out'
'There is not any negative connotation associated with it.' Kindly note the image has been published only for representational purposes. Photograph: Adnan Abidi/Reuters Health care and pharma M&As in India have been on the rise in recent years driven by interests from private equity players and Indian firms opening up to inorganic growth among other factors. Subhakanta Bal, managing director, Rothschild & Co, one of the world's largest independent financial advisory groups, in a video ...
Rediff.com, 20 hour(s) ago
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India's air passenger traffic grows 5.1% to about 138.9 mn in May: Icra
Domestic air passenger traffic grew 5.1 per cent year-on-year to an estimated 138.9 million in May and was significantly higher by around 14 per cent than pre-Covid levels, credit ratings agency Icra said on Thursday. Photograph: Anushree Fadnavis/Reuters Icra also said the outlook on the Indian aviation industry is stable amid the continued recovery in domestic and international air passenger traffic with a relatively stable cost environment and expectations of the trend continuing in ...
Rediff.com, 22 hour(s) ago
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Govt borrowing cut expectations fade as coalition govt takes shape
The expectations of a borrowing cut by the government faded among bond-market participants after the general election results because they feel the compulsions of running a coalition may put pressure on the exchequer, according to dealers. Illustration: Dominic Xavier/Rediff.com The recent trend of moderate depreciation in the rupee’s nominal effective exchange rate (NEER) might not persist if there are significant changes to the structural reform agenda. While the Bharatiya Janata ...
Rediff.com, 23 hour(s) ago
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