24/7 News Daily
The government discontinued the scheme due to rising liabilities related to payouts. According to RBI data, the government raised ₹72,274 crore through SGBs, but total redemptions—at current gold prices—amount to approximately ₹1,48,011 crore. Source link
With just over a week left before US President Donald Trump’s proposed reciprocal tariffs come into force, a senior US trade official is set to visit India to discuss bilateral relations. Assistant US Trade Representative (USTR) for South and Central Asia, Brendan Lynch will lead a delegation to India from March 25-29, according to a…
Nearly 70 days after Dr Michael Debabrata Patra retired as the Reserve Bank of India’s (RBI) Deputy Governor on January 14, 2025, the position remains vacant. Dr Patra, a career central banker since 1985, served as Deputy Governor from January 2020, with two subsequent one-year extensions, overseeing critical departments including Monetary Policy, Financial Markets Operations,…
Chief Minister Yogi Adityanath on Monday highlighted Uttar Pradesh’s economic progress and welfare initiatives as he marked eight years of the National Democratic Alliance (NDA) government in the state. He noted that the unemployment rate had significantly dropped, per capita income had risen, and UP was on its way to becoming a $1 trillion economy….
AU Small Finance Bank has firmly refuted persistent market rumours suggesting a special audit by the Reserve Bank of India (RBI). Founder, MD & CEO Sanjay Agarwal while addressing these speculations directly, stated that the bank maintains strong regulatory compliance and internal stability. He emphasised that neither the RBI nor any statutory auditors have raised…
The government has proposed amendments to the Finance Bill 2025, including the removal of the 6% equalisation levy on online advertising. This tax, introduced in 2016, applies to digital ad payments made to global platforms like Google and Meta. Removing the levy is expected to lower the cost of digital advertising in India. The equalisation…
India has reaffirmed its engagement with BRICS while making it clear that it is not part of any initiative to undermine the US dollar. This comes in response to US President Donald Trump’s latest warning of a 100% tariff on imports from BRICS nations if they pursue a common currency. External Affairs Minister S. Jaishankar,…
A Parliamentary Committee on Commerce has recommended the implementation of matching tariff reductions that adjust tariffs on raw materials in response to lower import duties on finished goods, ensuring a level playing field for domestic manufacturers. The recommendation comes amid continued pressure from US President Donald Trump to lower tariffs and provide greater market access…
Eight out of twelve companies under the Production Linked Incentive (PLI) scheme for high-efficiency solar PV modules are unlikely to meet their targets due to the unavailability of requisite technology for polysilicon-based ingots and wafer, sources indicate. According to sources speaking to CNBC-TV18, over ₹16,000 crore of the scheme’s outlay is expected to remain underutilised….
India’s foreign exchange reserves rose by $305 million to $654.27 billion in the week ended March 14, marking a more than three-month high, according to data released by the Reserve Bank of India (RBI) on Friday. In the previous week, reserves had surged by $15.27 billion—the largest weekly jump since August 2021—partly due to the…