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IBUs are not allowed to open savings accounts.The RBIon Monday said IFSC Banking Units can open foreign currency current accounts of entities operating in IFSC and of non-resident institutional investors to facilitate their investment…

U.S. gold futures were flat at ,489.20 per ounce. (Reuters photo)Gold prices on Tuesday held steady near a more than one-week high hit in the previous session, as disappointing U.S. data and concerns about an interim Sino-U.S. trade deal…

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The transaction is part of ArcelorMittal’s commitment to unlock up to USD 2 billion of value from its asset portfolio by mid-year 2021, the statement said.Global steel giant ArcelorMittal will sell a 50 per cent stake in its shipping arm…

During February and December 2019, the repo rate was brought down by 135 basis points from 6.5% to 5.15%.Inadequate credit flow from commercial banks and non-banking financial companies (NBFCs) to industry has frequently been cited as a…

Besides, single-commodity indices have been launched in four commodities — gold, silver, copper and crude oil.Leading commodity bourse MCX on Monday launched a new index series, MCX iCOMDEXTM, on commodity futures. A commodity index is…

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As per the guidelines, the transfer of funds under P2P lending happens through an escrow account mechanism, which is operated by a bank promoted trustee.To protect consumers interest, the Reserve Bank on Monday said that on a…

RBI governor Shaktikanta DasIt will take a few more quarters to see if signs of growth revival visible now are sustainable, Reserve Bank of India (RBI) governor Shaktikanta Das tells Shritama Bose and Malini Bhupta . The central bank is…

At the NSE, it gained 4.97 per cent to Rs 24.30, its highest trading permissible limit for the day.Shares of Reliance Infrastructureon Monday climbed 5 per cent after the company said it has won an arbitration award of Rs 1,250 crore…