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India's GIFT City may soon facilitate transactions in offshore Chinese renminbi. Authorities are reviewing a proposal to enable International Banking Units to deal in CNH. This move follows improved India-China relations and aims to expand banking services. Indian banks anticipate benefits from increased yuan-based transactions, driven by global trade. The decision awaits high-level approval.from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/SUGxC1w
Banks across numerous states will be closed on Wednesday, November 5th, for Guru Nanak Jayanti and Kartik Purnima. Customers needing in-person services should verify local schedules. While branches are shut, digital banking and ATMs remain operational for essential transactions. Plan ahead for any branch-specific needs.
State Bank of India's net profit surged 10% to Rs 20,160 crore in Q2 FY26, boosted by a one-time gain from its Yes Bank stake sale. Total business crossed Rs 100 lakh crore. Despite margin pressures, loan growth remained steady, driven by retail, agriculture, and MSME sectors. Asset quality saw significant improvement.
Global central banks significantly boosted gold reserves in Q3 2025, adding 220 tonnes, a 28% quarterly jump. India's RBI acquired 600 kilos, reaching 880 tonnes. Despite higher prices, this strategic move signals confidence in gold as a safe haven, with Kazakhstan and Brazil leading recent purchases.
