archivePTI wire

Erode (Tamil Nadu), Mar 22 (PTI) Half a kilo of gold biscuits and 100 foreign dollars were seized from a passenger travelling on an omnibus in Chitode near Erode on Saturday morning, police said. Acting on a tip-off, police intercepted the Hyderabad-Coimbatore bus on the National Highway at Lakshminagar near Bhavani. During the search, they found the gold and foreign currency in a bag belonging to Pugazvasan from Singanallore in Coimbatore. He was taken into police custody along with his belongings, including three mobile phones and a laptop, police added....

Mumbai, Mar 17 (PTI) Reserve Bank on Monday said India’s bilateral trade transactions with Maldives may also be settled in INR and/or MVR in addition to the ACU mechanism. Asian Clearing Union (ACU) is a payment arrangement whereby the participants settle payments for intra-regional transactions among the participating central banks on a net multilateral basis. The participants include central banks and the monetary authorities of Bangladesh, Belarus, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka. Show Full Article A Memorandum of Understanding (MoU) has been signed between RBI...

Port Louis, Mar 12 (PTI) India and Mauritius on Wednesday elevated their ties to ‘enhanced strategic partnership’ and inked eight pacts to boost ties in several sectors, including maritime security, and promote trade in local currencies, even as Prime Minister Narendra Modi unveiled an ambitious vision for growth and security of the Global South. On the second and final day of his two-day trip to Mauritius, Modi graced the national day celebrations of the island nation as the chief guest and announced a raft of development projects for the strategically-located...

Port Louis, Mar 12 (PTI) India and Mauritius on Wednesday elevated their ties to an ‘enhanced strategic partnership’ and inked eight pacts to boost cooperation in several sectors including trade and maritime security even as Prime Minister Narendra Modi unveiled an ambitious vision for the development of the Global South. The agreements inked will provide for promoting the use of national currencies for cross-border transactions, sharing of maritime data, joint work in combating money laundering and enhancing cooperation in the MSME (Micro, Small and Medium Enterprises) sector. On the second...