CENTRAL BANK OF OMAN
India pushes to expand rupee settlement with key trade partners
India's central bank is actively working to facilitate rupee settlements with free-trade partners, aiming to boost the local currency. This involves establishing direct rupee rates independent of the US dollar and developing reference rates with several countries. These efforts align with Prime Minister Modi's goal of increasing the rupee's international use for trade and capital transactions.
India to launch digital currency, says Piyush Goyal; discourages cryptocurrency "not backed by assets"
India is set to launch its own RBI-backed digital currency, aiming for simpler, faster, and traceable transactions while reducing paper use. Union Minister Piyush Goyal emphasized that the nation discourages cryptocurrencies lacking sovereign or asset backing, imposing heavy taxes on them due to inherent risks and lack of accountability.
India seeks big investments from UAE: Piyush Goyal
India is actively seeking increased foreign investments from the UAE, targeting sectors like infrastructure, technology, and green energy. Both nations are committed to strengthening their strategic partnership, aiming to double non-oil trade to $100 billion. Initiatives like Bharat Mart are underway to support Indian businesses in expanding globally, alongside potential free trade agreements with GCC countries.
For long-term investors: Focus on business, not sentiment. 7 large-cap stocks with an upside potential of up to 44%
Given the recent global and domestic developments, there is a greater probability that market sentiment will remain positive for the coming few weeks. Thursday saw the market following in the footsteps of the Dow Jones to celebrate – although somewhat mutedly – the US Fed’s rate cut. With the GST rate rationalisation set to be implemented on September 22 and positive signals emanating on the India-US trade deal front, there are more reasons for the bulls to get active. But, as investors, it would be prudent to be cautious even as you turn bullish.
Shortage to scam: Fake fertilisers, pesticides flood farms - how much is China to blame?
With limited supply, a rise in agrochemical input demand has created fertile ground for counterfeit products, an issue further aggravated by China’s export restrictions, which were later relaxed, say experts.
Wealth creation has another name: Ignore noise & Trump. Just hold on to good businesses; 22 stocks from different sectors that fit the bill
With the additional 25% tariff all but a reality, here's a question: What will President Trump say or do next? Can anyone predict that? The answer is no. So, if you cannot predict what the man responsible for all the recent market turmoil will do, why try to predict what will happen to stock prices? At such a juncture, you will do well to remember that while the markets are about buying and selling, there is a third option. Which is hold. And when it comes to wealth creation, there are times when it is more important to just hold on to stocks. So if you have quality stocks, stop analysing what is happening to the Nifty and Sensex every day.
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NDB appoints ex-MPC member Rajiv Ranjan as VP, Chief Risk Officer
Rajiv Ranjan, former MPC member, is now the Vice-President and Chief Risk Officer at the New Development Bank. The BRICS-led bank announced his five-year term appointment on August 23, 2025. Ranjan brings over 35 years of central banking experience from the Reserve Bank of India. He has held key roles in monetary policy and economic research.
Oman eyes Indian tourists to boost sustainable tourism under Vision 2040
Oman aims to attract more international tourists. The nation focuses on Indian visitors due to strong historical ties. Oman targets approximately 11.7 million annual visitors by 2040. Oman promotes corporate travel and destination weddings. In 2023, 6,00,000 Indian tourists visited Oman. Oman's tourism strategy aligns with Oman Vision 2040. The Oman Botanic Garden showcases Oman's unique approach to sustainable tourism.
List of countries where Indians can use UPI to make payments; how to activate, make payments using UPI International
Over the past two years, many countries have started accepting payments through UPI apps. Here is a list of countries where Indians can use UPI to make payments.
ACME looks to sell 35% stake to raise Rs 3,000 crore
ACME, established in 2003 by Manoj Kumar Upadhyay, is the largest solar independent power producer in India with a diversified portfolio of 5.5 GW spread across 12 states and with a mix of central and state utilities. Its portfolio of operational solar power projects has grown to 2.9 GW from 15 MW in 2011. The rest of the 2.6 GW is under different phases of development.
RBI permits banks to open vostro accounts from 22 countries for trade in rupee
The Reserve Bank of India has allowed 20 banks operating in India to open 92 Special Rupee Vostro Accounts of partner banks from 22 countries in a bid to promote bilateral trade in local currencies. An MoU has also been signed between the RBI and the Central Bank of UAE to allow exporters and importers to invoice and pay in their respective domestic currencies.
India, Oman to sign pact on digital finance & payments
The landmark agreement will facilitate the use of RuPay cards and the UPI platform in Oman and collaboration for seamless digital remittances, benefitting Indian workers and professionals.
Gulf countries to experience worst economic crisis in history: IIF
Overall real gross domestic product (GDP) will contract 4.4% this year, despite some indications that the virus spread has been successfully contained and the easing of some restrictions in recent weeks, said the IIF, a global financial industry body.
CBI deports Sunny Kalra in PNB fraud case
It is alleged that Sunny Kalra, Director of M/s. White Tiger Steels Pvt. Ltd. fraudulently obtained a bank loan of Rs. 10 crores (approx) from Punjab National Bank, Darya Ganj Branch, New Delhi and clandestinely removed the hypothecated goods which led to the loan account NPA.
SBI Life to open Bahrain branch by December
SBI Life is a joint venture between the State Bank of India and the French financial services heavyweight BNP Paribas Cardiff.
Doha Bank sets ball rolling to start subsidiary in India
RBI has promised to treat foreign banks opening local subsidiaries equally with local lenders, giving them the freedom to open branches and also later allow them to acquire local banks.
New features on currency notes soon to tackle Fake Indian Currency Notes menace
In the first phase, the features will be included in high denomination notes of Rs 500 and Rs 1000, which are much in demand by counterfeiting gangs as also Pak's ISI, sources said.
NRIs warned against taking rupees into India
UAE's Central Bank has asked all banks and exchange houses to advise their customers not to carry rupees into India.
Gulf-based NRIs taking loans to reap benefits of fall in rupee
Money exchangers and bankers in Muscat said that NRIs have started resorting to personal loans as rupee touched an all-time low.
UAE, Oman unlikely to rejoin Gulf union now
Gulf Arab oil exporters will move closer to a unified currency when their rulers meet on Monday in Kuwait, which promised to seek the return of the United Arab Emirates and Oman to the monetary union plan.
India's growth to be lower at 7.5%, says PM
The prime minister’s forecast compares with the Reserve Bank of India’s forecast of an expansion of 7.5% to 8% in the year to March.
Oman's banking sector opts for weekend change
Oman's banks will switch over to a Friday-Saturday weekend with effect from July 1, in order to align their banking activities with international markets.
Oman mulls tighter lending curbs as inflation jumps
Oman's central bank is ready to tighten bank lending curbs again after inflation hit an 18-year peak of 11.1 per cent in February, Executive President Hamood Sangour al-Zadjali said on Sunday.
SBT to open representative office in Dubai
State Bank of Travancore, an associate of India's largest public lender SBI, will open its representative office in Dubai to provide services to NRIs in the UAE.
SBI gets Fed approval for new US branch
The approval for SBI comes nearly three months after ICICI Bank got approval to start its branch operation in New York. Crucial first yr of biz | Securing your kid's financial
BoB plans to expand Gulf operations
With the opening of a new branch in Bahrain and planned opening in Qatar, Bank of Baroda eyes expansion in Gulf.
Kuwait drops dollar peg in blow to Gulf currency union
Kuwait unshackled its dinar from the tumbling US dollar on Sunday and switched the exchange rate mechanism to a basket of currencies, throwing plans for currency union with other Gulf Arab oil producers into disarray.
Nani Javeri plans to set up a new bank in Oman
Nani Javeri, former managing director, Birla Sun Life Insurance, is moving to Oman to set up a new bank there.
BoB seeks more remittance biz in UAE, Oman
Bank of Baroda has launched a new electronic remittance service in the UAE and Oman that seeks to connect its Indian and Gulf branches.
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