Country Financial News

foreign exchange reserves are up by $708 million to $602.161 billion for the week ending August 11, latest data by the Reserve Bank of India (RBI) showed on Friday. According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) increased by $999 million to $534.40 billion.

«An NRI can invest in the Indian stock market, but there are certain restrictions on which. So, under the RBI's PIS scheme, an NRI can invest in the Indian stocks but there is a restricted list of stocks in which they can invest into, but that is pretty much a broad list and it covers good quality stocks that they can invest into,» says Shweta Rajani, Anand Rathi Wealth.Let us start with the basics. In financial terms who is an NRI and where NRI can make investments? What sort of investments are allowed for NRIs in India? So, starting with who is an NRI.

NRIs have a plethora of investment options in India, ranging from equities and mutual funds to fixed deposits and debt funds. Understanding tax implications and staying updated on DTAA agreements are crucial for effective investment planning. While challenges like restricted stock lists and operational hurdles exist, the growth potential of India's markets remains attractive. With the right strategies, NRIs can harness these opportunities to build a diversified and promising investment portfolio. Shweta Rajani of Anand Rathi Wealth dives into the essential aspects of NRI investments in the Indian financial landscape.Understanding NRIs and Their Investment Avenues

Chandrayaan-3's Vikram lander on Friday successfully underwent its first deboosting manoeuvre, said Indian Space Research Organisation (ISRO). The authorities asserted that the lander module's health was normal. «LM successfully underwent a deboosting operation that reduced its orbit to 113 km x 157 km,» said ISRO in a X (formerly Twitter) post.

Narendra Modi said on Friday India is making remarkable progress towards achieving equitable and collective prosperity as he cited some reports to assert the country stands at the cusp of a new era of economic progress and is on course to become developed by 2047. In a post on Linkedin, Modi said he recently came across two insightful research pieces which would interest all those passionate about India's economy: one from SBI Research and another by journalist Anil Padmanabhan.

foldable smartphones, the Galaxy Z Fold 5 and Galaxy Z Flip 5, which have now become available for purchase in India. Interested customers can acquire these innovative devices through various platforms, including Samsung.com, Amazon.in, Flipkart, and other major e-commerce outlets across the country.

climate change. It is efficient, allowing society to identify the cheapest unit of carbon-dioxide equivalent to forgo. It is fair: polluters pay; the proceeds can be redistributed.

Mint explains how the monsoon has fared so far. July ended with 6% above normal rainfall, compared with a 10% deficit in June. With this, the country recorded a satisfactory 5% above normal rainfall in the first half (June-July) of the monsoon season.

Despite the Taliban takeover of Afghanistan in 2021, India has continued to supply humanitarian relief to the country. Mint explains why.

New Delhi: Water level in India's key reservoirs slipped below the 10-average, a first this monsoon season, as rainfall activity turned sluggish across many parts of the country. According to data from the Central Water Commission (CWC), water level at 146 reservoirs as on Thursday was at 111.285 billion cubic metres (bcm), 62% of their combined storage capacity. The level was unchanged week-on-week, but was lower than 135.88 bcm a year ago, and less than the 10-year average of 112.92 bcm.

Economic Advisory Council to the Prime Minister (EAC-PM) made it clear that its Chairman Bibek Debroy's recent Op-ed piece on 'new constitution' that appeared in newspaper Live Mint reflects his personal view and not the government's. EAC-PM took to social media platform X to clarify the same. Debroy's opinion piece titled «There's a case for 'we the people' to embrace a new constitution» gathered attention as the EAC Chairman expressed that the Indian constitution is dated and carries colonial legacy while hinting at a 'new constitution'.

real estate market has always attracted the investments from its diaspora spread across the globe. NRIs have readily contributed to the Indian real estate market by purchasing residential and commercial properties in the country. In the past few years, numerous investment opportunities are coming forth in the market that is centered to cater to the burgeoning investment needs of NRIs. Out of all, real estate investment in India is viewed as one of the most lucrative opportunities that increases the returns multi-fold and diversifies the portfolio. While purchasing property in India is an attractive proposition and a common investment option among the Indian diaspora, selling these assets isn't always straightforward. It calls for heightened understanding and thorough planning on the part of the NRIs, particularly concerning tax implications. Therefore, NRI sellers need to understand these intricacies to ensure full compliance and maximize profit.

Reserve Bank of India is expected to again hold the policy rate in the next meeting, as the central bank awaits a clearer picture on the inflation trajectory, said Crisil in a report.RBI's next monetary policy meeting is scheduled for early October. «Uncertainty on the inflation trajectory has increased with the recent flare-up in food prices. Monsoon and weather disruptions, along with government interventions and global food supply will influence inflation outcome,» said the report titled 'RateView — CRISIL's outlook on near-term rates'.

BRICS group of major emerging economies — Brazil, Russia, India, China and South Africa — will hold its 15th heads of state and government summit in Johannesburg this month. Here are some key facts about the summit.

rupee rebounded from its record closing low and opened 13 paise higher at 83.02 against the US dollar amid a pullback in the American currency. “The depreciation in rupee comes on the back of the recent spike in US dollar and treasury yields amid worries that the US Federal Reserve will keep interest rates elevated for a longer duration. The fall in Chinese yuan led to a slide in domestic currency on concerns over export competitiveness," said Amit Sajeja, Vice President Research - Commodities & Currencies at Motilal Oswal.

Advanced Strategic Management Programme. The 12-month programme is designed for senior to mid-level professionals as well as senior executives who want to sharpen their strategic skills to identify, unlock, and capture disruptive growth for their organisations.The IIM Kozhikode Advanced Strategic Management Programme is one-of-its-kind in the way that it combines leadership thinking, growth strategies, strategy and innovation along with contemporary agendas. According to the 23rd Global CEO Survey - The India Outlook by PwC in 2020, only 40% of Indian CEOs were ‘very confident’ about their revenue prospects and felt the need to re-evaluate their corporate strategy.

Bata India on Friday gave a clarification regarding the company's 'strategic alliances and partnerships' after reports emerged that the footwear maker is in talks with Adidas for a partnership for the Indian market. Yesterday, CNBC-TV18 reported citing sources that Bata India is in partnership talks with Adidas. The talks are likely to an advanced stage and the final countours of the deals are in the works.

3,000 buildings in Lahaina were damaged by fire, smoke or both. Insured property losses alone already total some $3.2 billion, according to Karen Clark & Company, a prominent disaster and risk modeling firm.

Amidst a volatile landscape, the cryptocurrency market has witnessed Bitcoin, currently trading at $26,423, experiencing a significant decrease of nearly 11% in the last seven days. 

Narendra Modi on Friday urged BJP's 'Zila Panchayat' members to work to make various development initiatives a mass movement, asserting that «lamp of development has to be lit up in every village, tehsil and district to make India a developed country» by 2047. Addressing virtually a «Kshetriya Panchayati Raj Parishad» of local body members drawn from several states, including Gujarat, Maharashtra and Madhya Pradesh, he said 'sabka saath, sabka vikas' is not merely a slogan for the BJP and they should live it every moment.

retail sales, industrial output and investment growing at a slower-than-expected pace. China also has to contend with a deepening property crisis and concerns about potential spillover from payment woes of shadow banking-linked trust products. Zhongzhi – one of the country’s largest private wealth managers – recently fanned fears about financial contagion after facing a liquidity crisis.