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National Housing Bank data revealed a widespread increase in property prices across India, with 48 out of 50 cities experiencing hike in Q4 FY25. The Housing Price Index surged by 7.5% year-on-year, driven by appreciation in major residential markets like Bengaluru and Kolkata. A reduction in home loan interest rates further bolstered the property market during this period.from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zgfR2mh
Banks nationwide are closed today, May 24th, for the fourth Saturday of the month, as per RBI guidelines. While physical branch services are unavailable, digital banking options like mobile apps, ATMs, and online payment systems remain operational for uninterrupted transactions.
The Reserve Bank of India's record dividend payout to the government, nearly Rs 2.7 trillion, was primarily driven by substantial dollar sales and foreign exchange gains. The RBI actively intervened in the forex market, becoming a major seller of reserves. Increased earnings from rupee securities also contributed, although tempered by falling G-sec yields.
The Indian rupee rebounded strongly, appreciating by 50 paise to Rs 85.45 against the US dollar, driven by a weaker dollar index and robust domestic equity market performance. Positive global risk sentiment and central bank initiatives further supported the rupee, offsetting concerns from crude oil prices and foreign fund outflows. The currency saw its largest single-day gain since November 2022.
