Economy News - Page 29

No decision to discontinue printing of Rs 2,000 notes, MoS Finance Anurag Thakur tells Lok Sabha

The government on Monday said no decision has been taken to discontinue printing of Rs 2,000 banknotes, and state-owned SBI and Indian Bank are reconfiguring ATMs for Rs 500 and Rs 200 notes

NMDC slashes iron ore prices by Rs 50 per tonne; new rates are effective from 14 March

The country's largest iron ore miner NMDC has slashed prices of lump ore and fines by Rs 50 per tonne

Coronavirus fears impact Goa's tourism sector; resume mining activities immediately: GMPF

With coronavirus fears impacting the Goa's tourism sector, an umbrella body of mining dependents GMPF on Monday sought immediate resumption of mining activities in the state which is already reeling under a financial stress due to mining halt

Wholesale inflation eases to 2.26% in February on cheaper food articles, vegetables

Wholesale price index (WPI) based inflation softened to 2.26 percent in February on the back of cheaper foods and vegetables, government data showed on Monday

China's economy skids as coronavirus paralyses industries, households; factory production plunges at sharpest pace in 30 years

China’s factory production plunged at the sharpest pace in 30 years in the first two months of the year as the fast-spreading coronavirus and strict containment measures severely disrupted the world’s second-largest economy

CAIT writes to finance minister Nirmala Sitharaman seeking insurance cover for coronavirus-hit businesses

Traders' body CAIT has appealed to Finance Minister Nirmala Sitharaman to direct regulator IRDAI to mandate insurance firms to introduce coverage for disruptions to businesses on account of the coronavirus outbreak

Gold imports dip 8.86% to $27 bn during Apr-Feb 2020; current account deficit narrows to $143 bn

Gold imports, which have a bearing on the country's current account deficit (CAD), fell 8.86 percent to $27 billion (about Rs 1.90 lakh crore) during April-February period of the current financial year, according to commerce ministry data

Cabinet clears 4% DA hike; 48 lakh central govt employees, 65 lakh pensioners to benefit

The Union Cabinet on Friday approved 4 percent hike in dearness allowance (DA) to 21 pe cent for central government employees, costing the exchequer an additional Rs 14,595 crore

Forex reserves surge by $5.69 billion to reach record $487.23 bn in week ended 6 March

The country's foreign exchange surged by $5.69 billion to reach an all-time high of $487.23 billion in the week to 6 March following an increase in foreign currency assets, according to the RBI data

Exports post first rise in seven months, grow by 2.91% to $27.65 bn in February; imports up 2.48%

India's exports rose for the first time in seven months in February growing by 2.91 percent to $27.65 billion, according to the commerce ministry data released on Friday

Rupee rebounds 48 paise to close at 73.80 on RBI's assurance to maintain sufficient liquidity in currency market

Rebounding from its record low of 74.50, the rupee traded higher by 48 paise at 73.80 against the US currency on Friday after the Reserve Bank's assurance that steps will be taken to maintain sufficient liquidity in the panick-stricken currency market

Gold prices dive Rs 1,097 to Rs 42,600 per 10 gram as investors move to other assets; silver crashes by Rs 1,574

Gold prices on Friday crashed by Rs 1,097 to Rs 42,600 per 10 gram in the national capital as investors moved to other assets, including rupee after an appreciation in the domestic currency, according to HDFC Securities

Coronavirus outbreak: RBI says 'closely monitoring' situation, will take measures for market stability

The Reserve Bank of India (RBI) on Friday said it is closely monitoring the current global situation and assured that it will take all steps to keep markets adequately liquid and stable

Investment of Rs 1 cr can create only one job, says Maharashtra Industries Minister Subhash Desai

An average Rs 1 crore investment can create only one job in the industrial sector, Maharashtra Industries Minister Subhash Desai told the Legislative Council on Friday

Market mayhem: Govt, RBI to take all necessary steps to quell 'fear sentiment' around coronavirus, says CEA KV Subramanian

The government and the RBI will take all necessary steps to quell the "fear sentiment" created due to coronavirus, Chief Economic Advisor Krishnamurthy Subramanian said on Friday

Ready to take any action as required, says SEBI amid steep stock market volatility

SEBI on Friday said the regulator and stock exchanges are prepared to "take any action" as required to deal with market volatility, hours after trading was halted for 45 minutes

Rupee reclaims lost ground, spurts 36 paise in mid-session after RBI steps in to maintain liquidity in panic-stricken currency market

The Indian rupee staged a recovery in the afternoon session on Friday, trading 36 paise higher against the US dollar, after the Reserve Bank stepped in to maintain sufficient liquidity in the panic-stricken currency market

Air India sale: Govt extends deadline to bid for cash-strapped national carrier till 30 April

The government on Friday extended the deadline for submitting bids for buying 100 percent stake in Air India till 30 April

Industrial output grows 2% in January, highest in six months on uptick in mining, power sector

India's industrial production grew at the fastest pace in six months at 2 percent in January, mainly on account of uptick in mining activity and power generation, official data showed on Thursday

Retail inflation cools first time after six months to 6.58% in February on easing of vegetable prices

Retail inflation dropped for the first time after six months in February, easing to 6.58 percent as prices of vegetables and other kitchen items cooled, government data showed on Thursday

Rupee sinks 56 paise to fresh 17-month low of 74.24 amid market meltdown, continued forex outflows

The rupee slid by 56 paise to a fresh 17-month low of 74.24 (provisional) against the US currency on Thursday due to strong dollar demand as investors pruned riskier bets amid coronavirus pandemic fanning recession fears

Retail inflation slows to 6.58% in February on easing food prices; industrial production grows 2% in January

Retail inflation slowed to 6.58 percent in February over the previous month mainly due to easing food prices, government data showed on Thursday

RBI announces measures to infuse liquidity to sooth forex market; offers US dollar swaps worth $2 billion

The Reserve Bank on Thursday announced measures to infuse liquidity in the foreign exchange market, including the US dollar swaps worth $2 billion, as markets crashed amid mounting concerns over coronavirus pandemic

Sensex crashes 2,919 points, records biggest single-day fall as coronavirus pandemic wreaks havoc on global markets; Nifty below 9,600-mark

The BSE Sensex plunged over 2,919 points on Thursday in its biggest one-day fall in absolute terms as the coronavirus pandemic wreaked havoc on global markets

Yes Bank crisis: RBI asks state govts not to move deposits out of private banks; says money is safe

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