BUSINESS
India's Forex Reserves Increase by $223 Million, Reaching a New High of $689.45 Billion
It showed that for the week ended September 13, foreign currency assets, an important component of reserves, had however dipped by USD 515 million to USD 603.629 billion. In dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.
Family Member of Ashneer Grover Arrested in BharatPe Fraud Case
Deepak Gupta, the brother-in-law to Madhuri Grover, has been arrested on the night of September 19. During investigation, it was found that accused Deepak Gupta was the Procurement Head at relevant time in the complainant company and he used to acknowledge the bogus deliveries of standees etc., on the basis of which the payments were made to the non-existent firms," a statement by the EOW said. Earlier, another accused in this case, Amit Bansal, was also arrested by the EOW.
Sensex Surpasses 84,000 for the First Time, Nifty Reaches Record High
By 11:16 a.m., the benchmark BSE Sensex had surged by 1,028 points or 1.21 per cent to 84,190 and Nifty managed to inch up by 287 points or 1.13 per cent to 25,700.
Banks must use UPI to create more digital opportunities to empower millions, Says Sitharaman
Speaking at an event in Pune, the Finance Minister said that a robust banking system can help achieve economic growth, social progress, and environmental sustainability, and as UPI spreads its wings, the banks can thrive along with it too. Based on the encouraging response received from several countries, the RBI is now focusing on making "UPI and RuPay truly global.".
India on Track to Become World’s Third-Largest Economy by FY 2030-31: S&P Global
This report focuses on infrastructure development and, therefore, strategic geopolitical effort in which these will be determinant while trying to maximize on larger benefits of trades to the country.
Tax Refunds Exceed Rs 2 Lakh Crore in FY25
The government data said the direct tax collection in the current financial year, from April 1 till September 17, stood at Rs 9.95 lakh crore with a rise of 16.12% as compared to the same period last year.
India Rises from 10th to 5th Largest Economy Between 2014 and 2019: Puri
The hydrocarbon trade between the two countries has reached $13.6 billion in 2023-24 -- nearly double the figure from 2018-19, Puri said at a roundtable with energy companies.
US Fed Rate Hike Factored In, Limited Impact on India: Chief Economic Advisor
The cut follows expectations of a smaller reduction and marks a shift after the Fed held rates at a two-decade high for 14 months. Economic Affairs Secretary Ajay Seth also noted that the move is unlikely to significantly impact foreign inflows into India, emphasizing that market behaviors in other economies should be considered as well.
Sensex, Nifty Hit All-Time High After US Fed Announces Rate Cut
Banking stocks led the markets. Nifty Bank surged by 468 points or 0.89 per cent at 53,246.
NITI CEO: Indian Economy Has Potential to Double by 2030
Speaking at an event organised by the Public Affairs Forum of India (PAFI), Subrahmanyam said climate change could be turned into an opportunity for India to emerge as a leader in climate technology.
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