Photo: India Today

ED Issues Notice To Xiaomi For Violations In Foreign Exchange Law

The Enforcement Directorate (ED) issued show-cause notices to the Indian arm of Chinese mobile phone manufacturer Xiaomi, Notably, Xiaomi's chief financial officer and director Sameer B Rao, former managing director Manu Kumar Jain and three foreign banks were alleged for violations of the foreign exchange law to the tune of more than Rs 5,551 crores. The Adjudicating Authority (of the Foreign Exchange Management Act) has issued the notices… read-more

Sat, 10 Jun 2023 - 10:27 AM / by Varsha Joshi

Tags: Xiaomi, business, INDIAN MARKET, ED, Violation Notice

US dollar rupee

Photo: India Today

Rupee Falls By 5 Paise To Rs 82.57 Against US Dollar

The rupee fell 5 paise to close at 82.57 (provisional) against the US dollar. The fall came after the Reserve Bank kept the key interest rate unchanged. At the interbank foreign exchange, the domestic unit opened at 82.59 against the dollar, and finally settled at 82.57 (provisional), down 5 paise from its previous close amid a negative trend in domestic equities.

Thu, 08 Jun 2023 - 05:07 PM / by Varsha Joshi

Tags: Rupee, Indian Economy, US Dollar, business, Indian Stock Market


Photo: India Today

RBI MPC Meeting, Governor keeps Repo Rate Unchanged At 6.5%

The Reserve Bank of India (RBI) concluded its bimonthly monterary policy meeting, and announced a major relaxation for people. Considering inflation above the 4% target, the RBI Governor Shaktikanta Das led MPC decided to keep repo rate unchanged at 6.5%, Standing Deposit Facility Rate remains at 6.25%. Marginal Standing Facility Rate and Bank Rate unchanged at 6.75%. More announcement into the meeting is awaited.

Thu, 08 Jun 2023 - 10:30 AM / by Varsha Joshi

Tags: RBI GOVERNOR, Indian Banks, repo rate, RBI, business

Courtesy: Live Mint

Supreme Court

Photo: India Today

Relief For Adani As Ex SC Panel Ruled Out Any Irregularity

In a major relief for Adani Groups, the former Supreme Court judge panel said there is no regulation in market. In the recent development after the Hindenburg report, the SC asked the Security Exchange Board of India (SEBI) to complete the investigation and submit a report. The ex-SC panel also said there was evidence of a build-up in short positions on Adani Group stocks ahead of the US report.

Fri, 19 May 2023 - 04:50 PM / by Varsha Joshi

Tags: Adani Group, US Report, Ex SC Panel, Indian Judiciary, business, SEBI

Courtesy: Rediff.com

Gautam Adani

Photo: India Today

Adani Group Investigation Since 2016, SEBI Submits Affidavit

The Securities and Exchange Board of India (SEBI) filed a response to the Adani Groups' investigation. Market regulator SEBI told the Supreme Court today that allegations that it has been investigating the Adani Group since 2016 are "factually baseless". It also cautioned against "premature and wrong conclusions" in the case. SEBI also cautioned against a "premature conclusion" of the case, justifying its request for a six-month extension.… read-more

Mon, 15 May 2023 - 06:02 PM / by Varsha Joshi

Tags: Legal Process, SEBI, business, Adani Groups, Indian government

Courtesy: NDTV

Bank of Baroda

Photo: The Economic Times

Bank Of Baroda Increased Fixed Deposit Interest Rates

The interest rates on Bank of Baroda's fixed deposits (FDs) up to Rs 2 crore have increased. After the adjustment, the general public's FD interest rate may increase to 7.25 percent. Seniors who deposit money with the Bank of Baroda might earn up to 7.75 percent on their fixed deposits. The new rates are coming into effect today, May 12, 2023, confirmed sources.

Sat, 13 May 2023 - 10:08 AM / by Varsha Joshi

Tags: BANK OF BARODA, interest rate, Fixed Deposits, Indian Banks, business

Courtesy: Zee News India

London Stock-Telangana

Photo: India Today

London Stock Exchange Groups Signs MoU With Telangana

The London Stock Groups announced to establish an excellence technology center in Hyderabad, Telangana. The BRS Minister of Information Technology KT Rama Rao and London Stock Groups official signed a memorandum of understanding in this regard. Furthermore, the new centre will help in employment and will generate 1,000 employment for Telangana. London Stock Exchange Group (LSEG) is a leading global financial market infrastructure and data… read-more

Fri, 12 May 2023 - 06:29 PM / by Varsha Joshi

Tags: London Stock, business, KT Rama Rao, telangana government, MoU

Courtesy: The Hans India

Muthoot Finance

Photo: India Today

Muthoot Finance Completes Pre-Payment Of Commercial Borrowings

Muthoot Finance announced to have completed pre-payment of external commercial borrowings, announced in a release. The official exchange issued by the finance company read, "The board on March 28 had approved the pre-payment of external commercial borrowings of $550 million."  In addition, the company also initiated steps for cancellation on Senior Secured Notes issued by the company under the Global Medium Term Note Programme.

Sat, 15 Apr 2023 - 09:30 AM / by Varsha Joshi

Tags: Shares, Muthoot Finance(15041), Commercial Borrowings, INDIAN MARKET, business


Photo: English Daily News

UK Firms Looks To Expand In India Business Council

In order to intensify the border supply chain and expand businesses, international companies are making efforts and planning to invest in India. In recent, Britain is strengthening their defense, security, and economic ties with India. We have got a group of 22 British defense companies, with collective revenues of about $60 billion, really focused on doing business with and in India, said UK Indian Business Council.

Sun, 09 Apr 2023 - 04:24 PM / by Varsha Joshi

Tags: US Business Council, business, Defence Sector, expansion, International Ties

Courtesy: Economic Times


Photo: The Indian Express

RBI Likely To Pause Its Interest Rate Hike In April

The Reserve Bank of India (RBI) is expected to pause its interest rate hike and the current 6.5 percent repo rate could be the terminal rate for now, said SBI Research in its latest Ecowrap report. The repo rate is the interest rate at which the RBI lends money to all commercial banks. The next monetary policy meeting is scheduled for the first week of April 2023.

Mon, 27 Mar 2023 - 08:19 PM / by Varsha Joshi

Tags: business, RBI, Interest Hike, banking sector, MPC Committee

Courtesy: Zee News India