India’s forex reserves adequate to tackle Brexit impact: RBI
The country’s foreign exchange reserves and import cover of more than a year would be sufficient in managing the temporary effects of Brexit, a Reserve Bank official said today.
By PTI, Kozhikode
PUBLISHED ON JUN 25, 2016 08:32 PM IST
The country’s foreign exchange reserves and import cover of more than a year would be sufficient in managing the temporary effects of Brexit, a Reserve Bank official said on Saturday.
“India’s forex reserves of more than USD 360 billion and import cover of more than a year would be adequate in managing the temporary effects of the recent Brexit, if at all there is an impact,” RBI Regional Director, Thiruvananthapuram, S M N Swamy, said here.
He was speaking after inaugurating a day long seminar on ‘Role of private remittances in the socio-economic scenario of Kerala’ at the Indian Institute of Management, Kozhikode (IIM-K).
Swamy also spoke on the importance of remittances in reducing India’s reliance on foreign aid, building the country’s Forex reserves as well as meeting the current account deficit, an IIM-K release said.
Chairperson of Technology Business Incubator of IIM-K Prof Keyoor Purani stressed on the importance of channelising remittances into entrepreneurial ventures so that Kerala can transform itself from a consumption to a production economy.
Bitcoin on your balance sheet? Here's what you need to know
Reuters, London/new York
PUBLISHED ON MAR 08, 2021 12:20 PM IST
Here are some of the key questions over cryptocurrency bookkeeping and tax.
Sensex rebounds over 270 points in early trade; Nifty reclaims 15,000-level
PTI
UPDATED ON MAR 08, 2021 09:54 AM IST
On the Sensex chart, ONGC, NTPC, Axis Bank, M&M, HDFC Bank and SBI were major gainers – climbing as much as 4.3 per cent.
Gold price recovers from 9-month low: Here's why
By hindustantimes.com | Edited by Amit Chaturvedi
UPDATED ON MAR 08, 2021 07:59 AM IST
Last week, the price of the precious metal suffered a huge fall. However, a stronger-than-expected US non-farm payrolls data helped it recover somewhat.
How govt plans to push health spending to target of GDP’s 2%
By Zia Haq, Hindustan Times, New Delhi
UPDATED ON MAR 08, 2021 06:02 AM IST
- Despite decades of strong economic growth, the country’s spending on health care is barely 1% of GDP, way below Brics peer nations, resulting in serious supply-side deficits of facilities and professionals.
Birla Sun Life plans to raise ₹5,000 crore via share sale
By Anirudh Laskar, Hindustan Times, Mumbai
UPDATED ON MAR 07, 2021 11:54 PM IST
- Aditya Birla Sun Life Asset Management has started talks with potential merchant bankers for the IPO, which is likely to be launched in the June quarter, said the people cited above.
Ola aspires to pull off a Tesla, but affordably
By Madhurima Nandy, Hindustan Times, Bengaluru
UPDATED ON MAR 07, 2021 11:42 PM IST
- The Bengaluru-based firm plans to start production as early as in June. That’s audacious, given that the land—260 acres for the plant and 240 acres for two supplier parks—is still in excavation mode.
Zostel claims victory in legal row with OYO
By Tarush Bhalla, Hindustan Times, Bengaluru
PUBLISHED ON MAR 07, 2021 11:37 PM IST
- The term sheet executed between the two parties in 2015, promised ZO Rooms’ shareholders 7% of Oyo.
Suitors make a beeline for 26% stake in BEML
By Malyaban Ghosh, Utpal Bhaskar
PUBLISHED ON MAR 07, 2021 11:32 PM IST
- Bharat Forge Ltd and Megha Engineering and Infrastructure Ltd may also submit expressions of interest for the government’s stake in BEML, the people said on condition of anonymity.
Biz confidence at India Inc soars to 10-year high
By Rajeev Jayaswal, Hindustan Times, New Delhi
PUBLISHED ON MAR 07, 2021 11:24 PM IST
- The survey captures the mood of the industry for the two quarters ending June 30, 2021.
Junk your old car, get 5% rebate from automakers on new purchase: Gadkari
PTI, New Delhi
PUBLISHED ON MAR 07, 2021 10:29 PM IST
Nitin Gadkari said, automated fitness tests will be set up under public private partnership (PPP) mode while the government will assist private partners and state governments for scrapping centres.
Gold prices down over 20% from highs. Should you invest?
By hindustantimes.com | Written by Meenakshi Ray, New Delhi
PUBLISHED ON MAR 07, 2021 06:40 PM IST
Gold has been falling for the past few months and has lost more than 20% in value from the highs witnessed in August last year.
RBI: India Inc's overseas direct investment falls by 31% to USD 1.85 billion
PTI, Mumbai
PUBLISHED ON MAR 07, 2021 06:27 PM IST
Domestic companies made investments of USD 2.66 billion in their overseas subsidiaries and joint-ventures in the year-ago month, February 2020.
OPEC+ surprise sees oil soar past Gulf’s budget-balancing Levels
Posted by Harshit Sabarwal | Bloomberg
PUBLISHED ON MAR 07, 2021 06:27 PM IST
The shock move by OPEC+ triggered a rally in Brent prices, which rose to almost $70 a barrel. That’s higher than annual average levels needed for the cartel’s largest producers, including Saudi Arabia, to balance their budgets this year.
Elon Musk’s historic wealth gains unravel with $27 billion loss
Bloomberg
PUBLISHED ON MAR 07, 2021 05:04 PM IST
Musk’s fortune hasn’t been solely subject to the forces buffeting the tech industry. His net worth has risen and slumped recently in tandem with the price of Bitcoin.
How to check PF balance without Universal Account Number
By hindustantimes.com | Edited by Ayshee Bhaduri, Hindustan Times, New Delhi
PUBLISHED ON MAR 07, 2021 02:49 PM IST
- For checking EPF balance without UAN number, users will need to log into their account through the EPF homepage at epfindia.gov.in.