India’s forex reserves drop US$5.6 billion to US$689.73 billion as of Oct 31, 2025

By BPN News Desk November 8, 2025

Finance

India’s foreign exchange reserves fell by US $5.6 billion in the week ended October 31 2025, dropping to US $689.73 billion, the Reserve Bank of India (RBI) said on Friday. This decline occurs after a previous week in which reserves had already slipped by about US $6.9 billion. The fall was

Business Finance

RBI Supports Lifting of Acquisition Financing Curbs

By BPN News Desk November 7, 2025

Reserve Bank of India (RBI) Governor Sanjay Malhotra has stated that the recent removal of restrictions on bank financing for corporate acquisitions will boost the real economy. The move follows regulatory changes permitting banks to provide funding for acquisitions, subject to safeguards such as limiting financing to 70% of deal value and placing debt-to-equity caps. […]

Business Finance

India Eyes Creation of Large World-Class Banks – Nirmala Sitharaman

By BPN News Desk November 7, 2025

India’s Finance Minister Nirmala Sitharaman has affirmed that the country needs significantly larger, globally competitive banks to support its economic ambitions. She stated that discussions are already underway with the Reserve Bank of India (RBI) and existing lenders to explore how this goal might be achieved. Possible Paths to Bigger Banks At the 12th SBI […]

Business Finance

Bank of Baroda’s Q2 Net Profit Slides to ₹4,809 Crore

By BPN News Desk November 2, 2025

Bank of Baroda reported a net profit of ₹4,809 crore for the quarter ended September 30 2025. This marks an 8.2 per cent year-on-year decline from ₹5,238 crore in Q2 FY25. Income & Asset Quality Highlights The lender’s net interest income grew to ₹11,954 crore, up 2.7 per cent compared to the same quarter last […]

Business Finance

GST Collections Reach ₹1.96 Lakh Crore in October

By BPN News Desk November 2, 2025

India’s gross Goods and Services Tax (GST) collections for October 2025 reached approximately ₹1.96 lakh crore, marking a 4.6 percent year-on-year increase. The growth was notably subdued, reflecting the combined effect of recent tax-rate cuts and robust festive-season demand. Factors Influencing the Collections According to government disclosures, the improved collection

Business Finance

GST Reset Likely to Boost Demand Outlook

By BPN News Desk October 28, 2025

The Ministry of Finance has said that recent rationalisation of the Goods and Services Tax (GST) rates is expected to support domestic demand by reducing tax burdens for consumers and businesses. However, it cautioned that global uncertainties remain a downside risk to the growth outlook. Impact of GST Changes The ministry’s monthly economic review highlighted […]

Business Finance

RBI, SBI Economists Clash Over Plagiarism Allegations

By BPN News Desk October 26, 2025

A senior economist from the Reserve Bank of India (RBI) publicly accused researchers at the State Bank of India (SBI) of copying large portions of the Central Bank’s reports in a LinkedIn post. The RBI economist claimed that several paragraphs, graphs and data tables in SBI’s Ecowrap economic publication mirrored chapters from the RBI’s Monetary […]

Business Finance

Allegations Raised Over LIC Funds, Rejected By Insurer

By BPN News Desk October 25, 2025

Life Insurance Corporation of India (LIC) has firmly denied allegations that it misused the savings of its policyholders to benefit the Adani Group. The claims were made by senior Congress leader Jairam Ramesh, who alleged that “the savings of LIC’s 30 crore policyholders were systematically misused to benefit Adani Group companies.” LIC’s Response LIC dismissed […]

Business Finance

HDFC Bank Says AI Will Not Lead to Layoffs

By BPN News Desk October 19, 2025

HDFC Bank has clarified that the adoption of artificial intelligence will not result in job cuts. CEO Sashidhar Jagdishan said the bank sees AI as a tool to enhance efficiency and redeploy staff into customer-facing and technology roles rather than reduce its workforce. AI Experiments in Progress The bank, with a workforce of around 2.20 […]

Business Finance

GST Cuts Set to Sustain India’s Consumption Boost

By BPN News Desk October 19, 2025

Union Finance Minister Nirmala Sitharaman on Saturday said the recent Goods and Services Tax (GST) rate cuts have boosted consumer demand and are likely to sustain momentum in the coming months. She noted that businesses have started passing on tax benefits, reflected in stronger sales of automobiles and consumer goods. Monitoring Prices Closely Sitharaman also […]