Business News & Economy – Page 12610 – FinSiddhi

Lower real interest rates have not hurt deposit growth in India: SBI Research

Deposit growth in India improved despite declining real interest rates, according to an SBI Ecowrap report. The report noted that deposit mobilisation remained resilient even with lower real returns. RBI’s foreign exchange management enabled recouping foreign exchange reserves and vacating short-term forward positions. The central bank’s policy communication showed a predominantly dovish profile, and loan…

ONGC eyes operatorship of two Venezuela oil blocks

ONGC plans to operate two Venezuelan oil blocks soon under new laws. The company regained its stake in Russia’s Sakhalin-1 project last December. This restored stake increased the group’s quarterly revenue contribution significantly. Venezuela offers additional incentives for operating fields with similar geology. ONGC expects positive developments and new agreements to be signed shortly.