India's foreign exchange reserves dropped by USD 6.052 billion to USD 593.477 billion during the week ended May 19, RBI said on Friday. Forex reserves drop by $6 billion to $593.45 billion May 27, 2023, 08:07AM ISTĪnalysts said the central bank likely sold dollars from its reserves through market interventions in order to curb volatility in the exchange rate last week.Here are some important points that one should consider before embarking on an international holiday. Financial tips to use when going on an international holiday May 29, 2023, 06:30AM IST.RBI’s surplus transfer was more than the budgeted amount of Rs 48,000 crore for banking sector The year ended with an overall surplus of Rs 87,416.22 crore that was transferred to the government in the form of dividend as against Rs 30,307.45 crore in the previous year, RBI's latest annual report released on Monday said. While income for the year increased by 47.06 per cent to its highest ever at Rs 2.65 lakh crore, the expenditure increased by 14.05 per cent. Sharp jump in foreign exchange income boosts RBI dividend for FY2023 May 30, 2023, 05:55PM IST.Let's understand how the new TCS rule will impact students who are already studying in foreign universities and schools or are planning to study abroad soon. The new rates of TCS will kick in from July 1, 2023. Sending money abroad for education? Pay 20% TCS from July 1 if you don't do this Jun 1, 2023, 01:10PM ISTīudget 2023 raised the Tax Collection at Source (TCS) rate for foreign remittances under the Liberalised Remittance Scheme (LRS) from 5 per cent to 20 per cent for select transactions.Reserves had fallen by $6.05 billion in the week ended May 19, the biggest fall in more than three months. India's forex reserves fall to lowest in a month Jun 2, 2023, 06:08PM IST.The real-time blockchain-backed system will remove this hindrance to make it available round-the-clock.

Moreover, transactions are not settled on Saturdays and Sundays or public holidays. Under the existing settlement system, it could take a few hours for the settlement to complete. JPMorgan to use blockchain to settle US dollar forex trades in India hub Jun 5, 2023, 01:33PM IST.

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