Economy News - Page 25

SBI-associate merger: Good to have a global sized bank, but are we creating too big a monopoly?

If anything goes wrong with SBI, it would have repercussions not only for the bank, but the whole financial system.

Demonetisation 100 days: Did PM Modi miscalculate the idea from the very beginning?

As demonetisation turns 100 today, there are more questions than answers with respect to PM Modi’s demonetisation move

Exports rise for fifth straight month, up 4% to $22 bn in Jan; gold imports slip 30%

Imports widened to $31.95 billion in January, up 10.7 percent from the same month last fiscal

Wholesale price inflation spikes to 30-month high of 5.25% as fuel prices soar

Inflation in the 'fuel and power' basket more than doubled to 18.14 percent in January, up from 8.65 percent in the previous month. Inflation in diesel and petrol shot up to 31.10 percent and 15.66 percent during the month.

Falling IIP, CPI: Demonetisation shock is playing out, but wait for more cues

If one looks at the CPI numbers closely, the major part of decline has come from decline in prices of vegetable and food items.

Jayalalithaa convicted in disproportionate assets case: How it all began

It was a complaint by Subramanian Swamy in a Chennai in 1996 that led to a probe against Tamil Nadu Chief Ministers Jayalalithaa in what later came to be known as the "Disproportionate assets case" in which she was convicted by a Bangalore court today.<br />

I-T department issues 1.62 cr refunds worth Rs 1.42 lakh cr; 41.5% higher than last year

As many as 4.01 crore ITRs were e-filed till February 10, 2017, an increase of 20 percent over the previous year.

Donald Trump will soon realise H1-B visa curbs will impact America, says Niti Aayog CEO

Kant said, he is quite "sure" that President Trump will soon realise that such embargoes or restrictions will weaken America as input cost will raise enormously and the goods produced will become expensive for consumers.

Retail inflation slips 37-month low to 3.17% in January

Retail inflation, measured in terms of Consumer Price Index (CPI), was at 3.41 percent in December.

Rural development holds key to growth and given priority in Union Budget, says Arun Jaitley

Jaitley said the Centre has made adequate financial allocation in the recent Budget for rural development such as power, irrigation, roads, drinking water, housing and MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act).

Demonetisation impact: IIP contracts to 4-month low of 0.4% in December

The industrial output was 5.7 percent in November and did not capture the impact of demonetisation.

Indirect tax revenue grows 24% in Apr-Jan; direct tax up 10.79%

Belying fears of slowdown due to demonetisation, indirect tax collection grew at a decent 16.9 percent in January buoyed mainly by excise, reflecting an uptick in manufacturing.

Govt makes Aadhaar mandatory for availing foodgrains from ration shops

The government said, subsidised foodgrains will not be sold to anyone not having Aadhaar after June 30.

Bill to tackle bankruptcy in financial sector soon to be introduced in Parliament: Shaktikanta Das

Outlining the focus of the budget 2017-18 at an event organised here by industry body Assocham, Das said, one of its objectives was strong fiscal focus

No decision yet on imposing tax on cash transactions: Shaktikanta Das

The Andhra Pradesh Chief Minister Chandrababu Naidu-headed committee on digitisation had in its report last month recommended a levy on cash deals beyond Rs 50,000 as it sought to discourage the use of physical currency.

RBI policy: With demonetisation pain still on, rate panel is acting in undue haste

The big gamble here is that the MPC expects the note ban impact to wear off and, in fact, growth to rebound sharply

United Breweries asks Vijay Mallya to step down from board

Last month, Sebi had banned Mallya and six former officials of United Spirits Ltd (USL) from securities markets in a case related to illegal fund diversions, while probe is on into the role of auditors and change of control at the company.

RBI signals end to rate cuts as inflation risks pose bigger threat than black money

The vote by the monetary policy committee to hold rates steady was 6-0, marking its third straight unanimous decision since being established in September.

RBI deputy Viral Acharya says 'bad bank' could help if designed right

In its economic survey released on 31 January, the finance ministry suggested setting up a bad bank that it said could be used to buy bad loans from the banks and deal with them through methods including conversion of debt to equity.

RBI holds rate on inflation fears, surprises with change in stance: What experts said

The RBI monetary policy committee on Wednesday voted 6-0, its third unanimous decision in a row since being established in September.

Cognizant finds improper payments of $6 mn made in India to obtain permits, licences

To date, of the identified $6 million in potentially improper payments, Cognizant has now recorded a total of $4.1 million in corrections, Karen McLoughlin, CFO said.

RBI status quo on key policy rates disappoints demonetisation-hit India Inc

India Inc today said a rate cut was needed to revive demand hit by the cash crunch post demonetisation

Affordable housing gets major boost in budget, but is the tax rebate enough to push demand?

The affordable housing market could be the channel for opening up other segments in real estate and now it is up to the developers to build confidence so that demand comes back

Highlights of the RBI's sixth bi-monthly monetary policy announced today

Economic growth for FY17 lowered to 6.9 percent; RBI pegs it at 7.4 percent in 2017-18

RBI cuts FY17 growth forecast to 6.9%, pegs 7.4% for next year

In its last monetary policy on December 7, the central bank had cut growth forecast to 7.1 percent, from its earlier projection of 7.6 percent for this fiscal.

RBI holds rate at 6.25%, cuts growth forecast: Full text of policy statement

This is the third policy review by the monetary policy committee

Foreign direct investment zooms 60% to $4.68 billion in November

Cumulatively, India attracted USD 32.49 billion foreign inflows in April-November period of the current fiscal as against USD 24.81 billion in the same period previous year.

RBI policy today: More than rate cut, read Urjit Patel’s lips on GDP growth comments

More than the interest rates, what is more interesting to watch is RBI forecast on GDP growth and comments from governor Urjit Patel on the growth outlook

Union Budget 2017: Kotak Bank sees economic growth in 3-4 months if proposals are implemented

Shanti Ekambaram, president of consumer banking at Kotak Mahindra Bank, said that implementation of the proposals in the Union Budget 2017 is critical as the country is coming out of demonetisation

Narendra Modi speech: Enough of rhetoric; where are the hard numbers on demonetisation gains?

After three months, the demonetisation pain has begun to ease as cash has slowly found its way back. It's time Narendra Modi presented the facts before the public