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Saturday, September 13, 2025

China gold licences: Yellow metal’s largest buyer to ease rules; continues to diversify away from dollar reserves

China is easing gold import/export licensing, aiming to diversify reserves from the US dollar. The People's Bank of China (PBOC) plans to broaden the use of faster “multi-use permits” by increasing authorized ports and extending permit validity. This builds on a 2016 initiative to streamline gold trade.

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Delhi's Bhai Dooj gift: Pink Card registration to begin from mid October; free bus travel for women

The Delhi government is gearing up to launch its Pink Card initiative by mid-October, offering women lifetime free bus travel as a Bhai Dooj gift. Registration for the 'Saheli Smart Card' will be online, requiring KYC verification through selected banks.

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Global ambition: India aims to place two PSBs among top 20 banks by 2047

India aims to elevate at least two public sector banks into the world's top 20 by 2047, leveraging improved financial performance and reduced NPAs. The PSB Manthan 2025 focused on modernization, governance, and global competitiveness. Discussions included digital transformation, risk management, and priority sector lending to achieve this ambitious goal.

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Friday, September 12, 2025

Russia's central bank cuts interest rate to 17% to boost slowing economy; deficit widens, inflation rising

Russia's central bank lowered its key interest rate to 17% to stimulate the slowing economy, even as elevated inflation persists at 8.2%. This decision reflects the challenge of balancing economic support during wartime with the need to control rising prices. Increased government spending on the conflict in Ukraine has widened the budget deficit, adding further complexity.

from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/EOMB7iL
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Forex reserves rise to $698.27 bn; gold surge lifts overall reserves; RBI data shows steady recovery

India's foreign exchange reserves witnessed a substantial increase of $4.038 billion, reaching $698.268 billion in the week ending September 5, according to the Reserve Bank of India. This surge was primarily fueled by a significant rise in gold holdings, which jumped by $3.53 billion. Foreign currency assets also contributed, increasing by $540 million.

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