In order to attract more capital inflows, it has been decided to increase the interest rate ceilings on FCNR(B) deposits. (AI image) Cheer for NRIs! The RBI has enhanced the interest rate ceiling for FCNR(B) deposits to overnight Alternative Reference Rate (ARR) plus 400 basis points for deposits with maturities between 1 year and less…
India’s forex reserves rise to $658.09 billion NEW DELHI: India’s foreign exchange reserves increased by $1.51 billion to $658.09 billion in the week ending November 29, the Reserve Bank of India (RBI) reported on Friday. This marks the first rise in nine weeks, recovering from a five-month low.The reserves had previously declined by a cumulative…
LG Electronics India Ltd, the Indian subsidiary of South Korea’s LG Electronics Inc, has filed draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The public issue, entirely an offer for sale (OFS), involves the sale of 10.18 crore equity shares by the promoter, LG Electronics Inc,…
NEW DELHI: In a first for the road sector, NHAI on Thursday said it will issue Rs 1,000 crore green bonds in second week of Dec to raise funds to implement environment-friendly steps on Delhi-Mumbai Expressway (DME) project.“This fund will be used for activities such as expenditure on avenue plantation, median plantation, construction of animal…
John Cronin, a 28-year-old entrepreneur with Down Syndrome, started John’s Crazy Socks in 2016. The Farmingdale, New York-based company now sells more than 4,000 different types of socks and has hit a major milestone: over two million orders fulfilled, per a report published Wednesday by the New York Post. The socks on offer range from…
Opinions expressed by Entrepreneur contributors are their own. In 2021, Joanna Smith-Griffin, the founder of an education-technology startup, was featured on the Forbes “30 Under 30” list. Last month, she was charged with fraud. Prosecutors allege that she lied to investors for years about her startup, AllHere Education, and the company received $10 million under…
Taylor Swift, the most-streamed artist on Spotify for the second year in a row, released a project recently that disappointed some eagle-eyed fans. Last week, Swift’s $39.99 coffee table read “The Eras Tour Book” went on sale, highlighting the superstar’s record-breaking Eras tour, which was the first ever to gross over $1 billion. The 256-page…
Bitcoin hit $103,000 Thursday morning after reaching the coveted $100,000 level Wednesday night. On Truth Social, Trump posted about the milestone offering congratulations and taking credit for the rally, writing, “You’re welcome!” Why Is Bitcoin Surging? Since Donald Trump won the 2024 election, Bitcoin has grown by 40%, and experts are enthusiastic that the President-elect’s…
Amazon founder Jeff Bezos said on Wednesday at the NYTimes DealBook Summit that he’s “actually very optimistic this time around” about President-elect Donald Trump’s upcoming second term in office. “He [Trump] seems to have a lot of energy around reducing regulation,” Bezos said, adding, “If I can help him do that, I’m going to help…
ATMs are equipped with a mechanism that automatically retrieves unattended currency notes. (AI image) ATM cash retraction new rules: The Reserve Bank of India has now partly reversed its January 2012 directive that had mandated disabling of cash retraction in ATMs. The original decision was taken to prevent fraudulent activities at ATMs.ATMs are equipped with…
