Reserve Bank of India releases fresh set of draft regulations for Rupee Interest Rate Derivatives
The Reserve Bank of India (RBI) yesterday released a fresh set of draft regulations aimed at updating the rules for Rupee Interest Rate Derivatives (IRD), in a move designed to bring the regulatory framework in line with evolving market practices and increased participation from non-resident entities. A comprehensive review of the IRD Directions was undertaken, and the draft directions have been prepared to align it with the market and other related developments, the RBI said while releasing the Draft Master Direction, Reserve Bank of India (Rupee Interest Rate Derivatives) Directions, 2025. The RBI has invited feedback from banks, market participants, and other interested parties on the draft by 7 July 2025.
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India Gazette
an hour ago
- India Gazette
India's forex reserves dip by USD 1.02 billion to USD 697.93 billion
Mumbai (Maharashtra) [India], June 29 (ANI): India's foreign exchange reserves (forex) declined by USD 1.02 billion this week after extending gains in the previous week stabilising at USD 697.93 billion, official data released by the Reserve Bank of India showed. The Forex extended their gains, jumping USD 2.294 billion to USD 698.950 billion in the week ending June 13. As on June 20, the data shows that the foreign currency assets declined USD 0.36 billion to USD 589.07 billion. Gold reserves were down by USD 5.73 million to stand at USD 85.74 billion during the week, the apex bank's data shows while the The special drawing rights were down USD 85 million to USD 18.67 billion. Central banks worldwide increasingly accumulating safe-haven gold in their foreign exchange reserves kitty, and India is no exception. The share of gold maintained by the Reserve Bank of India (RBI) in its foreign exchange reserves has almost doubled since 2021, till recently. In 2023, India added around USD 58 billion to its foreign exchange reserves, contrasting with a cumulative decline of USD 71 billion in 2022. In 2024, the reserves rose by a little over USD 20 billion. India's foreign exchange reserves (Forex) are sufficient to meet 11 months of the country's imports and about 96 per cent of external debt, said Governor Sanjay Malhotra while announcing the outcome of the Monetary Policy Committee (MPC) decisions. The RBI governor expressed confidence, stating that India's external sector is resilient and key external sector vulnerability indicators are improving. Foreign exchange reserves, or FX reserves, are assets held by a nation's central bank or monetary authority, primarily in reserve currencies such as the US Dollar, with smaller portions in the Euro, Japanese Yen, and Pound Sterling. The RBI often intervenes by managing liquidity, including selling dollars, to prevent steep Rupee depreciation. The RBI strategically buys dollars when the Rupee is strong and sells when it weakens. (ANI)
Time of India
3 hours ago
- Time of India
Bank holidays in India in July 2025: Banks will be closed for 13 days - Check full state-wise list here
Bank holidays in July 2025: According to the official list of bank holidays by the Reserve Bank of India (RBI), banks to remain shut for 13 days in July due to Beh Deinkhlam, Guru Hargobind Ji's Birthday and many other local and religious festivals. If you're planning to visit the bank in July 2025, you should know in advance about the bank holidays in different states of India. These July bank holidays vary from state to state, depending on regional festivals, religious celebrations, and local events. While online banking makes many things easier, like transferring money, checking balances, and paying bills, there are still some services that require a visit to the bank. Knowing the bank holidays in July 2025 can help you plan better. Full List of Bank Holidays in July 2025 (State-wise) Here is a complete list of July bank holidays in India for the year 2025, based on local festivals and observances: July 3, 2025 – Kharchi Puja Where: Tripura Banks in Tripura will remain closed on this day to observe Kharchi Puja, a traditional and important local festival. July 5, 2025 – Guru Hargobind Ji's Birthday Where: Jammu and Srinagar (Jammu & Kashmir) Banks in these regions will be shut to mark the birth anniversary of Guru Hargobind Ji, the sixth Sikh Guru. July 14, 2025 – Beh Deinkhlam Where: Meghalaya This is a significant tribal festival in Meghalaya. All banks will remain closed in the state. July 16, 2025 – Harela Where: Uttarakhand Harela is an important agricultural festival, especially in the Kumaon region. Banks will be closed for the celebration. July 17, 2025 – Death Anniversary of U Tirot Singh Where: Meghalaya Banks in Meghalaya will remain closed in memory of freedom fighter U Tirot Singh. July 19, 2025 – Ker Puja Where: Tripura Ker Puja is another important ritual in Tripura. Banks will remain closed in the state on this date. July 28, 2025 – Drukpa Tshe-zi Where: Sikkim Banks in Sikkim will remain shut for Drukpa Tshe-zi, a festival celebrated by the Buddhist community. Total Bank Holidays in July 2025 Including Sundays and second and fourth Saturdays, there will be a total of 13 bank holidays in July 2025. Here's a quick breakdown: Sundays: 6th, 13th, 20th, 27th Second Saturday: 12th Fourth Saturday: 26th State-specific holidays: 3rd, 5th, 14th, 16th, 17th, 19th, 28th Why Bank Holidays Are Different in Each State In India, bank holidays are not the same everywhere. Each state has its own traditions and festivals, which means banks close on different days in different regions. Apart from these local holidays, all banks across India remain shut on national holidays like Republic Day, Independence Day, and Gandhi Jayanti. Also, banks are closed on all Sundays and the second and fourth Saturdays of every month. What You Can and Cannot Do During Bank Holidays Even though banks are closed on holidays, you can still use internet banking and mobile apps to: Transfer money Check your account balance Pay utility bills Apply for loans However, for some important services, you must visit the bank in person. These include: Cash deposits and withdrawals KYC updates Accessing your locker Solving issues with failed transactions Closing or modifying joint accounts So, it's good to know when banks are closed in your area to avoid any inconvenience. If you need to visit the bank for any important work in July 2025, make sure to check the July bank holidays list in your state. While digital banking is useful, some tasks still need a physical visit. So, plan your banking activities in advance to avoid delays. Stay updated with more holiday updates, regional observances, and financial news to stay ahead! (Note: Dates/timings may be subject to change; details mentioned here are as per the information available.) For more informative articles on historical and upcoming events from around the world, please visit Indiatimes Events.
Mint
4 hours ago
- Mint
Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying PFC, Nalco shares tomorrow- 30 June 2025
Stock market news: Indian stock indices remained positive for the fourth consecutive session on Friday, bolstered by encouraging global signals, relative calm in the Israel-Iran conflict, and a potential extension of the tariff deadline originally set for July 9 by the US government. A spokesperson from the White House suggested on Thursday that the deadline for reciprocal tariffs might be postponed, although he noted that it would ultimately be up to President Donald Trump to make that decision. President Trump, for his part, indicated that a "great deal" was forthcoming with India, which has heightened investor optimism. Currently, India's negotiation team is in the US working on a trade agreement. Strong domestic fundamentals in India, a proactive Reserve Bank of India (RBI), and favorable monsoon conditions are all contributing to the support of the financial markets. With US markets reaching record highs and the US dollar declining, emerging markets, including India, are poised to gain. On Friday, the Sensex closed at 84,058 points, rising by 303 points, while the Nifty 50 finished at 25,637 points, climbing up by 89 points. Dharmesh Shah, Vice President at ICICI Securities, said Nifty 50 looks poised for a breakout from six weeks consolidation (25,200-24,500) supported by across sector participation. Shah has recommended two stock to buy for short-term. Here's what he expects from Indian stock market next week, along with his stock recommendation. Nifty 50 reclaimed 25,500 mark after eight months, as easing of geopolitical worries bolstered market sentiment globally. Consequently, S&P 500 has approached near its All-Time High levels. Nifty 50 performed in tandem with global peers gaining 2% for the week, at 25,638. Small cap zoomed 4% wherein traction seen in Metal and Capital market, BFSI sectors. The weekly price action formed a sizable bull candle carrying higher high-low, indicating acceleration of upward momentum. Breakout from six weeks consolidation (25,200-24,500) supported by across sector participation makes us confident to believe that index is poised to challenge it's All time high in coming quarter. Meanwhile, from short term perspective immediate hurdle is placed at 25,800. Volatility along the way if any should be used as a buying opportunity as we expect Nifty 50 to hold key support of 24,900. From seasonality perspective, July has been the favourable month for Nifty 50 since 1991, 71% of the time returns have been positive with an average of 2.5%. Structurally, despite geopolitical worries index maintained its higher high-low formation wherein Nifty 50 has merely corrected 3% and now witnessing acceleration of upward momentum. Past four decades history suggest that knee-jerk reactions during geopolitical escalation offers good investment opportunity for medium term perspective rewarding with double digit returns in subsequent three months. We expect, index to maintain the same rhythm. On the broader market front, the Nifty midcap and small cap indices have resumed uptrend after two weeks breather and now just 3-4% away from their life time highs. Meanwhile, northward inching ratio of Nifty 500 / Nifty 100 makes us believe that broader market would continue with its outperformance. Further, current rally is backed by the sturdy market breadth as currently 80% stocks of Nifty 500 universe are trading above their 50 days SMA while 62% of stocks are sustaining above their 200 days SMA, highlighting inherent strength. Our positive bias is further validated by following observations: 1. Outperformance of Bank Nifty continued as it inched upward and clocked fresh All Time High 2. Easing of geopolitical tension has resulted into decline in crude oil prices 3. US Dollar index is sustaining below past two months low of $98 which augurs well for FII's inflow in emerging markets 4. Bilateral Trade Agreement between India and US Dharmesh Shah of ICICI Securities recommends buying Power Finance Corporation Ltd (PFC), and National Aluminium Company Ltd (Nalco) shares this week. Buy PFC shares in the range of ₹ 415-425. He has PFC share price target of ₹ 478 with a stop loss of ₹ 388. Buy Nalco shares in the range of ₹ 186-192. He has Nalco share price target of ₹ 216 with a stop loss of ₹ 174. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 27/06/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
