India’s state-run oil companies are absorbing nearly Rs 30,000 crore in monthly losses to maintain stable petrol, diesel, and LPG prices amidst soaring global energy costs. This financial burden arises from crude oil price surges and supply disruptions in West Asia, with the government prioritizing consumer protection.
India’s foreign exchange reserves experienced a significant drop of $7.794 billion, reaching $690.693 billion in the week ending May 1. This decline, primarily driven by a fall in foreign currency assets and gold reserves, follows a previous decrease. The central bank’s intervention in the forex market to support the rupee is a key factor behind
India’s forex reserves fall by $7.79 billion to $690.69 billion Read More »
Wall Street stocks surged on Friday, with the S&P 500 and Nasdaq nearing record highs, buoyed by stronger-than-expected US jobs data. Despite ongoing Middle East tensions and oil price concerns, positive corporate earnings from companies like Monster Beverage and Akamai Technologies also fueled the rally, indicating economic resilience.
US stocks rise toward record highs as strong jobs data boosts investor confidence Read More »
Markets regulator Sebi has immediately discontinued the Investor Risk Reduction Access (IRRA) platform for stock brokers. Introduced last October, the system is now redundant due to enhanced cyber security, disaster recovery, and business continuity measures. Brokers have adopted advanced technologies, and exchanges offer a backup trading facility, making IRRA unnecessary.
RBI is not alone in repatriating its gold reserves. Several central banks like France’s Banque de France, Germany’s Deutsche Bundesbank, Serbia’s National Bank have done the same – buy why?
From UK, BIS vaults to Indian shores: Why RBI wants to keep more & more gold at home Read More »
