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RBI imposes penalties on ICICI Bank, Bank of Baroda, 2 other lenders

Mumbai, May 2 (PTI) The RBI (Reserve Bank of India) on Friday said it has imposed penalties on four banks, including ICICI Bank and Bank of Baroda, for deficiencies in regulatory compliances. Penalty of Rs 97.80 lakh has been imposed on ICICI Bank for non-compliance with certain directions issued by the Reserve Bank of India (RBI) on ‘Cyber Security Framework in Banks’, ‘Know Your Customer (KYC)’, and ‘Credit Card and Debit Card — Issuance and Conduct’. In another statement, the RBI said it has imposed a penalty of Rs 61.40 lakh on Bank of Baroda for non-compliance with certain directions

Sensex ends 260 points higher on FII buying, hopes of India-US trade deal

Mumbai, May 2 (PTI) BSE benchmark index Sensex ended 260 points higher on Friday buoyed by optimism surrounding a potential India-US trade deal, record high GST collection in April, and continuous foreign fund inflows. Moreover, a firm trend in global markets also added to the positive momentum in domestic equities. After a sharp rally in intra-day trade the 30-share BSE benchmark gauge later trimmed most of the gains and settled 259.75 points or 0.32 per cent higher at 80,501.99. During the day, the benchmark jumped 935.69 points or 1.16 per cent to 81,177.93. In a volatile trade, the NSE Nifty

Rupee pares gains, settles 3 paise lower at 84.57 against US dollar

Mumbai, May 2 (PTI) The rupee on Friday hit a seven-month high and rose past the 84 per dollar level on sustained foreign fund inflows and stronger domestic data, but pared all gains to settle 3 paise lower at 84.57 against the greenback. In a highly volatile trade, the rupee on Friday touched an intra-day high of 83.76 — the highest levels since October 2024 — but failed to sustain the momentum and ended the session 3 paise lower than its previous close. Forex traders said goods and services tax (GST) collections for April were robust at Rs 2.37 lakh

Gold climbs Rs 1,080 to Rs 96,800/10 gm, silver jumps Rs 1,600

New Delhi, May 2 (PTI) Gold prices climbed Rs 1,080 to Rs 96,800 per 10 grams in the national capital on Friday due to fresh buying from jewellers amid a firm trend overseas, according to the All India Sarafa Association. On Thursday, the precious metal of 99.9 per cent purity plunged Rs 2,830 to Rs 95,720 per 10 grams. Gold of 99.5 per cent purity rose Rs 180 to Rs 96,350 per 10 grams. It had depreciated Rs 1,930 to Rs 96,170 per 10 grams in the previous market session. Traders said gold rallied due to fresh demand from local

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