NEW DELHI: The Reserve Bank of India (RBI) will soon come out with a mobile app that will read out the denomination of currency notes for the visually-challenged population. The central bank has started the process of scouting for a vendor that can develop the mobile application for aiding the visually impaired in
David Marcus, the Facebook exec who helped hatch its Libra digital currency project, said a managing director with experience in government and central banking would be a great leader for the independent group that will actually oversee the currency. “We need someone who knows how economies tend to work, who understands how
Recent news about an increase in Indian corporates and state entities issuing dollar bonds is welcome news, especially since it clearly shows investor appetite for lending to credible Indian business models. However, relatively easy liquidity and high investor appetite for lending in the international markets must be tempered by the fact that
The Reserve Bank of India Thursday said reinsurance brokers have been permitted to open non-interest bearing foreign currency accounts with banks for undertaking transactions. Earlier, the Insurance Regulatory and Development Authority of India (IRDAI) had issued a notification in this regard. Following the Irdai’s notification, the extant regulations regarding the
President Recep Tayyip Erdoğan of Turkey campaigns in local elections in Usak on 27 March. Photograph: Anadolu Agency/Getty Images Financial markets in Turkey have experienced a fresh period of turmoil, putting the country’s recovery from recession at risk and raising questions over the health of emerging markets as the world economy slows.
Foreign exchange specialist CURRENCY MATTERS announced it will join IBM Blockchain World Wire, a real-time global payments network for regulated financial institutions, designed to optimize and accelerate foreign exchange and remittance services. By connecting to the World Wire network, Currency Matters now has access to a single unified network for
Asia’s worst-performing currency took five weeks to become its best. The turnaround has been fuelled by the improved chances of Prime Minister Narendra Modi winning a second term amid recent tensions between India and Pakistan. The optimism has led to local shares and debt luring robust flows, which have turned
Foreign investors are back in business. The Indian stock market has gained significantly in recent weeks, owing to buying by foreign portfolio investors (FPI). A higher inflow of foreign funds is also strengthening the rupee. The Indian rupee touched a seven-month high last week due to buying by FPIs. Aside from global factors,