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The Indian rupee experienced its most significant drop in over four months, closing at 84.28 against the US dollar due to Trump's victory. Despite this decline, the Reserve Bank of India (RBI) intervened to curb further depreciation. Global currencies also faced significant losses against a strengthening dollar, fueled by anxieties surrounding potential trade barriers. The Mexican peso, euro, Chinese yuan, and South African rand were among the most affected.from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/AVCqDuv
Chhath puja 2024 bank holidays: Multiple states in India will observe bank holidays for Chhath Puja celebrations from November 7-10, 2024. November will see numerous bank holidays due to various festivals including Diwali Amavasya, Guru Nanak Jayanti, and Kannada Rajyothsava, as per the RBI.
Retail-loan defaults are increasing in India. This is impacting the stock market. Analysts are concerned about the impact on the economy. Lenders are reporting stress in unsecured loans. Personal loan growth is slowing down. The Reserve Bank of India had tightened lending norms. Demand for big-ticket items is also slowing down.
Bank Fixed Deposits (FDs) are offering attractive interest rates, making it a favorable time for investors to lock in high returns before potential rate cuts by the Reserve Bank of India (RBI). The ET Intelligence Group has identified the top-performing bank FDs across various tenures, providing investors with insights to maximize their returns in a potentially declining interest rate environment.
Bank Holidays November 2024: Indian banks will observe 13 holidays in November 2024, impacting various states due to Diwali, Chhath Puja, Guru Nanak Jayanti, and regional festivals. Despite the closures, customers can utilize online and mobile banking services for uninterrupted access to their accounts.
