Business
India’s Forex Reserves Increase for Second Consecutive Week, Reaching USD 630.6 Billion
The RBI Governor noted that these foreign exchange reserves provide an import cover exceeding ten months. Overall, India’s external sector remains robust, with key indicators showing positive resilience.
It is important to highlight that fluctuations in foreign currency assets result from the central bank’s actions in the forex market as well as the appreciation or depreciation of the foreign assets in the reserves. The RBI’s interventions in the forex market are aimed at mitigating excessive volatility in the rupee.
The rupee experienced a decline of 0.9 percent against the US dollar in the week ending January 31, reaching a record low of 86.6525 per dollar.
“Our interventions in the forex market are designed to alleviate excessive and disruptive volatility, rather than targeting a specific exchange rate level or band. The exchange rate of the Indian Rupee is influenced by market forces,” the RBI Governor stated.
He emphasized that the Reserve Bank’s approach to exchange rates has remained steady over the years. “Our goal is to ensure orderliness and stability without sacrificing market efficiency.”
It is worth noting that the rupee, along with other emerging market currencies, has faced pressure amid concerns regarding US President Donald Trump’s tariff policies.
Chikkaballapur: The Chikkaballapur Milk Union (Chimul) has announced good news for milk producers in Chikkaballapur district. The union has decided to increase the milk procurement price by 50 paise per litre, which will benefit dairy farmers in the district.
Earlier, on January 1, Chimul had increased the price by Rs.1 per litre as a New Year benefit to farmers. Now, the union has announced an additional 50 paise increase.
With this latest revision, dairy farmers will receive Rs.36.40 per litre for milk. The 50 paise increase will remain in effect until the end of May.
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Chimul President Manjunath Reddy told Public TV that the union will review its profits and may continue the price increase in the future based on financial performance.
The decision is expected to provide some relief and encouragement to dairy farmers in Chikkaballapur district.
Business : After the death of parents, legal heirs are eligible to inherit their property. However, certain procedures must be followed before the transfer is completed in India.
Heirs must file the deceased person’s income tax return for the year of death and pay any pending taxes. There is no estate tax on inherited property in India, but any income earned from it, such as rent or interest, is taxable.
If the property is sold, capital gains tax will apply based on the difference between the original purchase price and the selling price. Clearing any outstanding loans linked to the property is also mandatory.
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Important documents such as the will, succession certificate, death certificate, and property valuation report should be kept ready to ensure a smooth transfer process.
New Delhi: Banks across India will remain closed on February 14 as it falls on the second Saturday of the month. The holiday is part of the official schedule released by the Reserve Bank of India, which requires banks to shut on the second and fourth Saturdays and all Sundays.
Customers are advised to finish important financial tasks early to avoid last-minute trouble. Every year, the RBI publishes a holiday calendar that lists national holidays, regional festivals, and other scheduled closures.
In February, banks in some states will also close for regional occasions such as the birth anniversary of Chhatrapati Shivaji Maharaj and Statehood Day in Mizoram and Arunachal Pradesh.
READ MORE :Class 1st Girl Loses Two Fingers in School Accident
Even though bank branches will remain closed, digital services like ATMs, internet banking, and UPI will continue to work normally.
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