Trade tensions and geopolitical uncertainties are weighing on economic perspectives, the Organisation for Economic Co-operation and Development said on Monday as it lowered its projections for global growth in 2025. That was due to “higher trade barriers in several G20…
Read More
Moody’s has placed IndusInd Bank’s baseline credit assessment under review for downgrade due to concerns over internal control discrepancies in derivative accounts and ongoing retail loan stress. The bank discovered a $175 million accounting discrepancy related to currency derivatives. Shares…
Read More
The Reserve Bank of India has assured depositors of IndusInd Bank of its strong financial health and stability despite concerns about financial discrepancies. The bank is well-capitalized and maintains a high liquidity coverage ratio. An external audit is underway to…
Read More
India’s Reserve Bank announced that bilateral trade transactions with Maldives can now be settled in Indian Rupees (INR) and Maldivian Rufiyaa (MVR) in addition to the Asian Clearing Union (ACU) mechanism. This decision follows a Memorandum of Understanding signed between…
Read More
RBI has injected over Rs 5 lakh crore into the banking system since mid-Jan to ensure surplus liquidity and support its rate cut’s transmission to borrowers. Despite this, corporate borrowing costs remain unchanged due to firm MCLR rates and year-end…
Read More
Delhi government’s revenue collections are likely to fall short of the budget projections for 2024-25, particularly in motor vehicle taxes and excise revenue. GST and VAT collections were reported at Rs 40,009 crore, nearing the Rs 41,000 crore target. However,…
Read More