India's foreign exchange reserves crossed $700 billion for the first time on record, after climbing for seven straight weeks, on valuation gains and the central bank's dollar purchases.

India's forex reserves jumped by USD 12.588 billion to a new all-time high of USD 704.885 billion for the week ended September 27, the Reserve Bank said on Friday. The overall kitty had swelled by USD 2.

India’s foreign exchange reserves have reached a historic milestone, crossing the $700 billion mark for the first time, following seven consecutive weeks of growth. The surge, driven by the Reserve Bank of India’s (RBI) strategic dollar purchases and valuation gains,

India's government is urging the Supreme Court to reject efforts to update a 160-year-old rape law, arguing it could disrupt "the institution of marriage."

The Indian government has opposed petitions in the top court that seek criminalisation of marital rape, saying it would be "excessively harsh". The federal home ministry told the Supreme Court that "a man does not have a fundamental right" to force sex on his wife, but there were enough laws to protect married women against sexual violence.

The Indian government opposed calls to label non-consensual sexual acts by a husband on his wife as “rape”, saying it may impact conjugal relationships and disturb the institution of marriage. In its submission to the Supreme Court,

India's central bank said on Friday group entities of banks shall not be used to circumvent guidelines applicable to the parent for carrying on business activities that are not otherwise permitted.

RBI proposes banks barred from using group entities to bypass regulations, suggests measures on investments and activities.

MUMBAI: Banks that have a large conglomerate structure will now have to consolidate similar activities under one entity, according to RBI's new draft circular for banks. RBI has also asked banks with large NBFC arms to comply with rules pertaining to upper-layer NBFCs.