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India’s forex reserves rise above $703 bn

India’s foreign exchange reserves have climbed to $703.3 billion, continuing a steady upward trend and strengthening the country’s financial buffer against global uncertainties.

According to the latest Reserve Bank of India data, the reserves increased by around $2.3 billion in the week ending April 17, 2026. The rise reflects a mix of valuation gains and stable external inflows.

The biggest contribution came from foreign currency assets, which make up the bulk of India’s reserves. These assets include holdings in major global currencies such as the US dollar and euro, and their value often changes with global currency movements and central bank operations.

Gold holdings also played a role in the increase. India’s gold reserves have seen a gradual rise in value in recent months, supported by higher global gold prices and consistent accumulation by the central bank. This has added another layer of stability to the overall reserves.

Other components, including Special Drawing Rights and India’s position with the International Monetary Fund, remained largely unchanged during the period.

The latest increase comes after some fluctuations earlier this year, when global uncertainties such as geopolitical tensions and changes in oil prices affected reserve levels. However, the recent trend shows a recovery and steady build-up.

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RBI cancels Paytm payments bank licence

The Reserve Bank of India (RBI) has cancelled the licence of Paytm Payments Bank and said it will move ahead with winding up the bank through legal process. The decision follows long-standing regulatory concerns over compliance and operations.

The RBI said the bank had repeatedly failed to meet required norms and its functioning was not in line with banking rules. Because of these issues, the central bank said continuing operations was no longer appropriate and ordered closure proceedings.

Paytm Payments Bank has already been under restrictions for a long time. It was first stopped from adding new customers, and later faced limits on deposits and account activity.

For customers, the RBI has assured that their money is safe. The bank has been told to repay all deposits during the winding-up process, and it is expected to have enough funds to do so.

The bigger concern for users is what happens to everyday services like wallets and payments. Paytm has clarified that its main app will continue to work. Services such as UPI payments, QR code scanning, mobile recharges, and payment systems used by merchants are expected to remain active.

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Finance Minister flags AI threat to banks

Union Finance Minister Nirmala Sitharaman has warned India’s banking sector about rising cybersecurity risks linked to advanced artificial intelligence tools, urging lenders to upgrade their security systems and prepare for new digital threats.

At the centre of the concern is “Claude Mythos,” an AI model developed by Anthropic. Reports suggest the tool has advanced capabilities to detect software weaknesses across computer systems and browsers. Officials fear such technology, if misused, could be exploited for fraud, hacking, theft of customer information and disruption of banking services.

The warning came during a high-level review meeting attended by senior officials from public and private sector banks, regulators and technology agencies. Discussions focused on how powerful AI systems could be misused to target financial institutions.

Sitharaman said Indian banks have managed cyber risks well so far through digitisation, regular software upgrades, firewalls and fraud monitoring systems. However, she cautioned that traditional safeguards may not be enough to tackle AI-driven attacks in the future.

She called for stronger and more flexible security systems to counter evolving risks. The Finance Minister also stressed the need for closer coordination among banks, regulators and cyber agencies to improve preparedness.

Banks were asked to create a real-time intelligence-sharing mechanism so suspicious activity or attempted breaches can be reported quickly across the sector. Officials said a coordinated industry-led system would be developed to monitor threats and improve response capabilities.

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Rupee slips 24 paise to 94.25 against US dollar

The Indian rupee continued its downward trend in early trade, depreciating by 24 paise to 94.25 against the US dollar, tracking weak global sentiment and sustained pressure from foreign capital outflows.

According to reports, the domestic currency opened at 94.25 and remained at the same level in early deals, marking another session of weakness against the greenback. The fall comes amid a broader risk-off mood in financial markets, with investors reacting to global uncertainties and a strong US dollar.

Forex traders noted that volatility in crude oil prices and geopolitical tensions in West Asia have added to pressure on emerging market currencies, including the rupee. Higher oil prices tend to hurt India’s import bill, which in turn weighs on the currency.

Another key factor behind the decline is continued foreign institutional investor (FII) selling in domestic equity markets. Outflows from Indian equities have reduced dollar supply in the local market, further weakening the rupee. Market participants also pointed to a stronger dollar index, which has been gaining against a basket of global currencies, making emerging market currencies less attractive.

The rupee has now extended its losing streak for several sessions, reflecting persistent pressure from external factors rather than domestic fundamentals alone. Traders say sentiment remains cautious, with global risk appetite fluctuating due to macroeconomic uncertainty and interest rate expectations in major economies.

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Government brings new online gaming rules

The Centre has notified new online gaming rules that will come into effect from May 1, bringing stricter regulation to India’s rapidly growing gaming industry.

Under the new framework, online money gaming has been banned. Platforms that allow users to wager money for prizes or winnings will not be permitted to operate. The government said the move is aimed at protecting users from fraud, addiction and heavy financial losses.

A new national regulator, the Online Gaming Authority of India, will be created to oversee the sector. The body will classify games, monitor compliance, handle complaints and publish a list of banned platforms. It will also work with banks and agencies to stop illegal transactions linked to prohibited apps.

The rules also introduce stronger user safety measures. Approved platforms must ensure age verification, parental controls, grievance systems and clear disclosures for users.

Casual games and platforms that do not involve money will face fewer restrictions. Esports and skill-based gaming platforms are expected to benefit from clearer rules and easier registration.

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India seafood exports makes a record of ₹72,325 cr

India’s seafood exports touched a record ₹72,325 crore in the financial year 2025-26, showing the strength of the sector even as demand from the United States weakened. Export volumes also increased, reflecting steady global interest in Indian marine products.

The country exported 19.32 lakh metric tonnes of seafood during the year, according to provisional figures from the Marine Products Export Development Authority (MPEDA). This marks one of the best performances for the industry in recent years.

Frozen shrimp remained the star product, contributing the largest share of export income. Shrimp exports brought in ₹47,973 crore, making up more than two-thirds of the total earnings. Demand for Indian shrimp remained firm across several international markets.

Although the United States continued to be the biggest buyer of Indian seafood, exports to that market declined during the year. Industry sources said tariff-related issues and trade pressures affected shipments, making Indian products less competitive there.

However, losses in the US market were more than offset by strong growth elsewhere. China emerged as a key growth driver, with imports of Indian seafood rising sharply. The European Union also increased purchases significantly, while countries in Southeast Asia recorded healthy demand.

Other seafood categories such as frozen fish, squid, cuttlefish, dried products and live seafood also performed well. Only chilled seafood exports reported a drop.

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Gold falls to ₹1.53 lakh, Silver steady at ₹2.60 lakh

Gold prices in India declined slightly on Thursday, April 23, while silver remained firm near ₹2.60 lakh per kilogram. The fall in gold prices comes amid global market uncertainty, rising crude oil prices and cautious buying by investors.

According to the latest retail rates, 24-carat gold was priced at around ₹1.53 lakh per 10 grams, while 22-carat gold stood near ₹1.40 lakh per 10 grams. The 18-carat variety was trading close to ₹1.15 lakh per 10 grams. Prices may differ slightly across cities due to local taxes and jewellery making charges.

In Delhi, 24-carat gold was quoted at around ₹1.55 lakh per 10 grams, making it one of the costliest markets in the country. The 22-carat rate in the capital was around ₹1.42 lakh per 10 grams. Mumbai and Kolkata saw slightly lower prices compared to Delhi, while Chennai remained among the higher-priced southern markets.

Silver prices stayed strong at around ₹2.60 lakh per kilogram despite recent volatility. Traders said silver continues to move sharply due to industrial demand and changing global market sentiment.

Experts said bullion prices have become volatile this week because of geopolitical tensions in West Asia and a rise in crude oil prices. Higher oil prices increase inflation worries, which usually supports gold demand as a safe-haven asset. However, some investors booked profits after recent record highs, limiting further gains.

Jewellers said customer demand is currently selective, with many buyers waiting for prices to stabilise before making large purchases. Retail demand is expected to improve during the upcoming wedding and festive season if rates ease further.

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Renewables meet global electricity demand in 2025

Global renewable energy has, for the first time, grown fast enough to meet all the increase in worldwide electricity demand in 2025, marking a major milestone in the shift toward cleaner power.

Strong expansion in solar and wind energy ensured that new electricity needs were fully covered by clean sources, limiting the need for additional fossil fuel generation. Solar power led the growth, contributing the largest share of new electricity output globally.

China remained the biggest driver of renewable expansion, adding large amounts of solar capacity. India also played a key role, with rapid growth in both solar and wind power. This helped reduce reliance on fossil fuels in its electricity mix.

Clean energy generation rose more than the increase in global electricity demand during the year. As a result, fossil fuel-based power generation stayed largely flat, a rare trend in recent decades. Coal’s share in global electricity also declined as renewables expanded.

In India, renewable generation grew faster than demand, leading to lower fossil fuel use in power production. Experts say this reflects a clear transition toward cleaner energy systems in major developing economies.

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Gold falls to ₹1,55,280, Silver slips to ₹2,64,900

Gold and silver prices edged lower in the domestic market on April 22, 2026, as investors opted for profit booking after recent fluctuations in global bullion trends. The decline comes despite continued underlying uncertainty in international markets that has kept precious metals volatile.

Gold prices dropped by ₹10, with 22-carat gold quoted at ₹1,55,280 per 10 grams. Silver also saw a mild correction, falling ₹100 to trade at ₹2,64,900 per kilogram. The movement reflects cautious sentiment among traders who are locking in gains after recent swings in global commodity prices.

Market participants attributed the dip primarily to short-term profit-taking. In recent sessions, both gold and silver had experienced sharp price movements due to geopolitical developments and shifting expectations around global interest rates. After such volatility, mild corrections are common as traders rebalance positions.

Analysts noted that while gold continues to enjoy structural support from safe-haven demand, especially amid geopolitical tensions and macroeconomic uncertainty, near-term price action is being driven by technical adjustments and profit booking. Silver, which has both industrial and investment demand, showed a similar but slightly more volatile reaction.

On the global front, bullion prices remain influenced by movements in the US dollar and bond yields. A stronger dollar or rising yields typically weigh on precious metals, while geopolitical risks and inflation concerns provide support.

In the Indian market, domestic prices are also shaped by import costs, currency fluctuations, and local demand trends. Despite the current dip, overall sentiment in the bullion market remains broadly stable, with investors closely tracking global cues for further direction.

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RBI partially withdraws curbs on rupee trades

The Reserve Bank of India (RBI) has partially withdrawn restrictions on rupee derivative trading that were introduced earlier this month to contain sharp volatility in the currency market.

The earlier curbs were imposed after the rupee weakened to record lows against the US dollar. To reduce pressure, the RBI had restricted certain derivative transactions, including non-deliverable forward (NDF) contracts and rebooking of cancelled forward deals.

In its latest move, the central bank has allowed some of these transactions to resume, signalling that pressure on the rupee has eased.

However, the RBI has kept limits on banks’ net open currency positions, showing that it remains cautious about speculative activity.

Market experts say the easing will help companies and banks hedge foreign exchange risks more smoothly, especially importers and businesses with overseas exposure.

The rupee has recovered from recent lows and is now trading in a more stable range. Analysts believe the RBI is trying to balance currency stability with normal market functioning.

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