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India’s foreign exchange reserves fell by $6.93 billion to $695.35 billion during the week ended October 24, according to data released by the Reserve Bank of India (RBI) on Friday.In the previous reporting week, overall reserves had risen by $4.50 billion to reach $702.28 billion, PTI reported.The RBI data showed that foreign currency assets (FCA),…
Russian petroleum giant Lukoil announced on Monday evening that it will divest its international operations following US sanctions imposed in connection with Moscow’s actions in Ukraine.“Owing to the introduction of restrictive measures against the company and its subsidiaries by some states, the company announces its intention to sell its international assets,” Lukoil said in a…
India’s foreign exchange reserves rose by $4.496 billion, reaching $702.28 billion for the week ending October 17, majorly driven by an increase in the value of gold reserves, the Reserve Bank of India said Friday.Last week, the overall reserves had increased by $2.176 billion to $697.784 billion, reported PTI.Foreign currency assets (FCA), the largest part…
The central bank has added 600 kilograms to its gold reserves this fiscal year. (Representative image) In a strategic shift, India is betting on gold rather than dollar-based assets for its foreign exchange reserves. The Reserve Bank of India (RBI) is showing a preference for gold over dollar-based investments, data suggests. As of October 10,…
Rare earth elements or REEs have made their way as the new strategic assets, emerging as the ‘new oil’ of the 21st century, as countries race towards cleaner energy. REEs are a set of 17 metals vital for their use in a range of devices like electric vehicles, wind turbines, smartphones and defense systems.“Invisible to…
As Sunny Deol marks his 68th birthday, his financial prowess shines bright with a whopping net worth in 2025, a testament to his enduring popularity and his smashing hit, ‘Gadar 2’. Besides his impressive earnings, he owns a stunning array of properties, including luxury bungalows in Mumbai and cherished land from his roots in Punjab….
State-run Oil and Natural Gas Corporation (ONGC), valued at around Rs 3.10 lakh crore, now lags behind food delivery platform Zomato in market capitalisation despite owning stakes and assets worth more than a third of its own valuation — a gap analysts say reflects deep undervaluation of India’s largest oil and gas producer.As of Friday’s…
Are you a NRI who has moved back to India? As thousands of Non-Resident Indians (NRIs) return to India permanently, financial experts are advising them to take immediate steps to manage their money and investments effectively.These include converting NRE and NRO accounts to resident status and updating KYC details with banks to ensure compliance with…
File photo: Finance minister Nirmala Sitharaman (PTI) AHMEDABAD: Finance minister Nirmala Sitharaman Saturday launched a nationwide campaign to return Rs 1.84 lakh crore of unclaimed financial assets lying with banks, RBI, insurance firms, mutual funds, provident fund accounts and other institutions to their rightful owners.The three-month programme also seeks to raise awareness. “These unclaimed amounts…
India’s foreign exchange reserves declined by $2.334 billion to $700.236 billion in the week ended September 26, according to data released by the Reserve Bank of India (RBI) on Friday. In the previous week, the reserves had dipped by $396 million to $702.57 billion.The fall was primarily due to a drop in foreign currency assets…
