Thursday, March 12
Punjab National Bank (PNB) is confident in exceeding its business target for the current fiscal year, aiming for Rs 30 lakh crore by March 2026. With a strong corporate loan pipeline and focus on MSME and retail lending, PNB anticipates significant growth. The bank prioritizes low-cost CASA deposits and maintains a healthy capital adequacy ratio to support its expansion.
BSNL and Numaligarh Refinery Limited (NRL) have partnered to launch India's first 5G Captive Non-Public Network (CNPN) in the refinery sector. This collaboration, announced at the Industry 4.0 Workshop in Guwahati, aims to enhance operational efficiency and drive innovation using cutting-edge technologies.
Donald Trump's new tariff policy is creating economic problems worldwide. Countries face high import taxes unless they agree to new trade deals with the US. Experts say everyone will lose, including US consumers. Some nations are negotiating, but still face higher tariffs. Lawsuits are challenging Trump's authority. US businesses and consumers will likely pay more for goods.
Prime Minister Modi, addressing his constituency, emphasized prioritizing farmers' welfare, small industries, and youth employment amid global economic instability. He urged citizens to embrace 'swadeshi' products and support local businesses, highlighting India's economic resilience and commitment to its interests. Modi also transferred Rs 20,500 crore to farmers under the PM-KISAN scheme, reaffirming his government's dedication to agriculture.
The finance ministry is intensifying scrutiny of public sector undertakings through weekly capital expenditure reviews. These actions aim to safeguard the Indian economy from escalating geopolitical risks, according to DIPAM Secretary Arunish Chawla. Public sector enterprises now represent 15% of India's total market capitalization, with the government confident in sustaining their capital expenditure momentum amidst global uncertainty.
Gold price prediction today: Gold futures are facing pressure, struggling to recover, currently around ₹98,778. Technical indicators suggest a weak rebound, lacking bullish momentum. Experts advise a 'Sell on Rise' strategy near ₹99,000, with a stop-loss at ₹99,450, targeting ₹98,550 and ₹98,200. The trend remains vulnerable to declines until prices decisively break above the 21 EMA with strong volume.
India's foreign exchange reserves saw a significant boost, climbing by $2.703 billion to reach $698.192 billion as of July 25, according to recent RBI data. This surge follows a previous week's decline. The increase was largely fueled by a rise in foreign currency assets and a notable jump in gold reserves.
Stock market today: The NSE Nifty dropped 203 points or 0.82 per cent to finish at 24,565.35. The BSE Sensex experienced volatility, falling 585.67 points or 0.72 per cent to close at 80,599.91, after touching a low of 80,495.57, down 690.01 points or 0.84 per cent during the session.
The US has imposed a 25% tariff on most Indian goods, effective August 7, 2025, potentially impacting India's exports significantly. Exemptions include pharmaceuticals, energy products, and electronics. Experts predict a potential 30% decrease in India's goods exports for FY 2026, dropping from USD 86.5 billion to USD 60.6 billion.
