February 12, 2025 7:16 PM February 12, 2025 7:16 PM

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RBI Lifts Business Restrictions on Kotak Mahindra Bank

The Reserve Bank of India (RBI) has lifted the business restrictions imposed on Kotak Mahindra Bank Limited after the bank addressed supervisory concerns and implemented necessary remedial measures.   On April 24, 2024, the RBI directed the bank to cease onboarding new customers through its online a...

February 12, 2025 7:11 PM February 12, 2025 7:11 PM

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Indian Scientists Uncover Key Genomic Factors Behind Breast Cancer Therapy Resistance

Tata Memorial Centre (TMC), Mumbai, and the National Institute of Biomedical Genomics (NIBMG), Kalyani, have uncovered key genomic factors contributing to resistance to hormone (endocrine) therapy in oestrogen receptor-positive (ER+) breast cancer, the most common subtype of breast cancer in India a...

February 12, 2025 7:06 PM February 12, 2025 7:06 PM

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RBI to Issue New ₹50 Notes With Governor Sanjay Malhotra’s Signature; Old Notes Remain Valid

The Reserve Bank of India (RBI) has announced that it will soon issue ₹50 denomination banknotes in the Mahatma Gandhi (New) Series bearing the signature of Governor Sanjay Malhotra. The design of these notes will remain unchanged and will be similar in all respects to the existing ₹50 banknotes in ...

February 12, 2025 6:43 PM February 12, 2025 6:43 PM

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US Market Ends Mixed as Fed Signals No Rush for Rate Cuts

US stocks ended mixed yesterday, as investors digested mixed corporate earnings reports. The Dow Jones Industrial Average increased by 0.28 percent, and the S&P 500 ended flat, while the Nasdaq Composite slipped over 0.3 percent.   Meanwhile, the US Federal Reserve Chair Jerome Powell, in his op...

February 12, 2025 6:41 PM February 12, 2025 6:41 PM

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Asian Markets Rally, European Indices Trade Mixed

Major Asian indices logged gains today. Hong Kong's Hang Seng surged over two and a half percent, China's Shanghai Composite index gained over 0.8 percent, Japan's Nikkei rose over 0.4 percent, and South Korea's Kospi as well as Singapore's Straits Times index both added over 0.3 percent each.   Amo...

February 12, 2025 6:40 PM February 12, 2025 6:40 PM

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Former President Pranab Mukherjee’s son Avijit Mukherjee Quits TMC, Joins Congress

Avijit Mukherjee, son of Pranab Mukherjee, former President of India, today joined Congress leaving Trinamool Congress. Senior leaders of the Congress were present on the occasion.   Avijit Mukherjee joined the Trinamool Congress in 2021 after Mamata Banerjee came back as the Chief Minister of West ...

February 12, 2025 6:34 PM February 12, 2025 6:34 PM

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Oil Prices Dip as US Crude Stocks Rise

Oil prices fell today, ending their gaining streak, after industry body data indicated a rise in US crude inventories. The traders also weighed the hawkish remarks from Fed Chair Jerome Powell that signalled slower rate cuts this year. Brent crude was trading over 0.8 percent down at 76 dollars and ...

February 12, 2025 6:35 PM February 12, 2025 6:35 PM

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West Bengal Budget 2025: ₹18 Lakh Crore GSDP, ₹1,500 Cr for Roads, New ‘Nadi Bandhan’ Scheme Announced

West Bengal Finance Minister Chandrima Bhattacharya today presented the budget in the State Assembly. According to the budget statement, West Bengal's Gross State Domestic Product (GSDP) crossed 18 lakh crore rupees. The budget has a revenue deficit of 35314 crore rupees.   1500 crore rupees have be...

February 12, 2025 7:16 PM February 12, 2025 7:16 PM

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India’s CPI Inflation Drops to 4.31% in January, Lowest in 5 Months

India's retail inflation eased to a five-month low of 4.31 percent in January from 5.22 percent in December, as the rate of increase in food prices slowed. According to data released by the Ministry of Statistics and Programme Implementation (MoSPI), inflation in rural areas stood at 4.64 percent co...

February 12, 2025 5:29 PM February 12, 2025 5:29 PM

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Rupee Falls by 6 Paise to 86.89 Against US Dollar

In the Forex market, the rupee today depreciated by six paise to settle at 86 rupees and 89 paise against the US dollar. The dollar index, which indicates the US dollar's strength against a basket of six other leading currencies, is trading at 107.88 in intraday trade.