Economy News

Why did Chidambaram do a major U-turn on demonetisation and call it a big scam, like Rahul Gandhi?

The change in his remarks can be attributed to a number of reasons, like toeing the party line and also vote-bank politics.

Dec 13, 2016

Bengaluru: CBI arrests RBI official for allegedly converting old Rs 1000 and Rs 500 notes with new Rs 2000 ones

More than a dozen banking officials have already been arrested for their involvement in the conversion of old currency notes.

Dec 13, 2016

ADB trims India's GDP growth forecast for 2016 to 7% on demonetisation

India's move to ban high value currencies will impact its growth figures due to short-term dip in consumption demand.

Dec 13, 2016

Budget 2017: Personal computer, tablet sales could get a fillip

Amid falling sales of PCs and tablets, industry leaders seek incentives in Budget 2017 to boost business and digital economy.

Dec 13, 2016

RBI asks banks to maintain record of old and new currency

The RBI said it was necessary to put in place an appropriate reporting system in order to keep a check on issuance of bank notes by the currency chests.

Dec 13, 2016

Brent crude oil prices firm as Abu Dhabi cuts exports

The firmer Brent prices came after oil markets shot to mid-2015 highs earlier this week after the OPEC deal.

Dec 13, 2016

7th Pay Commission: Central government employees enthused after RBI chief Urjit Patel's comment

Millions of Central government employees are awaiting news about the increase in allowances as proposed by the 7th Pay Commission.

Dec 12, 2016

IT industry seeks better tax norms, R&D incentives in upcoming budget

Indian IT industry has also sought the government's intervention to protect it from rising protectionist measures by developed countries.

Dec 12, 2016

Venezuela bans 100 bolivars banknote to fight black money

The South American nation is going through recession and has witnessed price rise of essential commodities due to falling oil prices.

Dec 12, 2016

Crude oil prices, demonetisation likely to dampen Christmas celebrations for Indians

OPEC and non-OPEC members agree to limit crude oil output, lifting prices; petrol, diesel prices are poised to rise in India.

Dec 12, 2016

RBI not in favour of government's move to cut card payment charges

The RBI argued that any reduction in card transaction charges will make the business model unsustainable for banks.

Dec 12, 2016

Qatar to merge Qatargas and RasGas to create a bigger entity

The move is seen as the Gulf country's efforts to adapt to a low energy pricing environment.

Dec 12, 2016

Indian insurers rush to buy bank capital after rule change

Insurance Regulatory Authority of India has allowed insurers to invest in AT1 rupee bonds with local ratings of AA and above.

Dec 12, 2016

Demonetisation: India might import 20,000 tonnes of currency paper to sail through cash crunch

This decision was taken following a meeting of the finance ministry officials chaired by Economic Affairs Secretary Shaktikanta Das.

Dec 12, 2016

Ticket prices may be hiked again as railway mobilises resources for safety fund

Sources say railway has no option but to increase prices as its proposed safety fund did not get a favourable response from the finance ministry.

Dec 11, 2016