Indian banks have stopped importing gold and silver. Large quantities of these precious metals are held up at customs. A formal government order authorizing bullion imports is awaited. This situation could lead to supply shortages in India. The delay might…
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The Indian rupee strengthened to a one-week high on Friday. This rise followed reports that the central bank implemented measures to control dollar purchases by state-run oil refiners. These actions aim to support the rupee amid concerns over energy prices…
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The IMF is urging governments to let fuel prices rise, warning that broad subsidies and price caps worsen global energy shocks. Allowing price signals to function encourages demand reduction, which is crucial for market stabilization. Targeted cash transfers are recommended…
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In a bid to navigate the turbulent waters of global shipping issues, India’s textiles ministry is advocating for lower duties on rayon pulp and certain cotton varieties. Furthermore, there’s potential for a postponement of anti-dumping duties on specific yarns, which…
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Indian banks are now requiring corporates to provide documentation for dollar forward transactions. This move follows recent currency volatility and new regulations. Banks are scrutinizing clients and setting limits based on past performance. The Reserve Bank of India has not…
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Gautam Adani is now Asia’s richest person, surpassing Mukesh Ambani. Adani’s wealth has surged this year, placing him 19th globally. Ambani’s fortune has seen a decline. Adani Group shares gained significantly, boosting Adani’s net worth. Several global billionaires have experienced…
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