Monday, November 25
RBI and Bank Indonesia signed an MoU to promote the use of local currencies, Indian rupee and Indonesian rupiah, optimizing costs, settlement time, bilateral cooperation, developing an INR-IDR foreign exchange market, and establishing a framework for cross-border transactions.
State-owned Bank of Baroda on Thursday announced special offers for its women account holders in celebration of International Women's Day on March 8. BoB MD and CEO Debadatta Chand said, "On this International Women's Day, we are pleased to extend our support to women and women-led enterprises and champion their journey towards financial empowerment and independence with a range of tailored offerings that provide enhanced value."
A regional airline called "Fly 91" has been granted a license by the Directorate General of Civil Aviation (DGCA) to operate flights, including routes connecting Lakshadweep to other cities. The airline currently has two ATR-72 and will get four more by September after which it plans to add six turboprops annually over the next five years. The average flight time of different Fly 91 routes will be 55-90 minutes.
Saudi Arabia, Opec+ countries, and Russia deepened crude supply cuts to balance the oil market. Brent crude prices increase but remain below previous highs. Further voluntary reductions were announced in April 2023. Saudi Arabia led the pack by extending its previously-implemented cut of 1 million barrels a day through the end of 2024's second quarter.
