Economy News

Budget 2023-24: Finance Minister to begin pre-budget consultations from today

Finance Minister Nirmala Sitharaman will hold consultations with the industry captains and experts on infrastructure

Nov 21, 2022

Economy: Happy days now, but challenging times ahead for public sector banks

Arbitrage between the lending and deposit rates, higher credit demand, and lower loan provisions resulted in public sector banks (PSB) posting handsome profits during Q2FY23 and H1FY23, say experts.

Nov 19, 2022

Amid FTX collapse, another crypto exchange suspends withdrawals

Hong Kong-based crypto exchange AAX has suspended withdrawals, citing the "failure of our third-party partner", which caused some users' balance data to be improperly recorded while scheduling a system upgrade.

Nov 14, 2022

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Moody's lowers India's growth forecast to 4.8% in 2023

Rating agency Moody's cut 2022 gross domestic product (GDP) projections for India to 7 per cent and projected 2023 at 4.8 per cent.

Nov 12, 2022

Global Investors Meet 2022 paved way for Rs 9.82 lakh cr investment in Karnataka: CM Bommai

Karnataka Chief Minister Basavaraj Bommai announced at the concluding ceremony of the 3-day Global Investors Meet (GIM) in Bengaluru that "investments totaling about Rs 9.82 lakh have been committed in diverse sectors in the state." Bommai thanked the participants in the event and investors.

Nov 5, 2022

Bank of England warns of longest recession in 100 yrs; to last until mid-2024 [details]

The Bank of England has warned the UK risked being plunged into the longest recession in 100 years after it pushed up the cost of borrowing to 3 per cent in the biggest single interest rate rise since 1989.

Nov 4, 2022

Reserve Bank of India to launch digital rupee pilot project today

The Reserve Bank of India (RBI) will today launch the nation's first digital rupee pilot project for the wholesale segment.

Nov 1, 2022

Indian currency update: Rupee touches 82.72 against dollar before closing at 82.63

Indian rupee on Friday closed at 82.63 after touching a high of 82.72 against the US dollar.

Oct 28, 2022

CM announces launch of Invest Karnataka 2022 - Global Investors' Meet in B'luru

Global Investors Meet 2022: Karnataka gears up as Modi set to inaugurate

The Karnataka government is making all preparations to make 'Invest Karnataka 2022-Global Investors Meet' -- which is just 10 days away from now

Oct 21, 2022

Nirmala Sitharaman says Rupee is NOT sliding but Dollar is strengthening; Deserves Ph.D, says Congress

Taking a jibe at Nirmala Sitharaman over her statement that Indian currency is not sliding but the dollar is strengthening, the Congress said that the Finance Minister qualifies for a PhD in Economics.

Oct 17, 2022

World Bank lowers 2023 growth forecast from 3% to 1.9%, says dangerously close to recession

World Bank lowered 2023 growth forecast from 3 per cent to 1.9 per cent for the global growth

Oct 14, 2022

Economy of every country is slowing; India defies odds [see how]

According to IMF, India is to grow at 6.1% in 2023, making it the world's fastest among major economies. Read to know more.

Oct 12, 2022

British pound. (File: Xinhua/Then Chih Wey/IANS)

British Pound falls sharply after Bank of England gives bond-buying end date

The British pound has fallen sharply against the dollar after Bank of England Governer Andrew Bailey warned that it would not extend its emergency intervention in financial markets beyond this week, after the turmoil sparked by the governments mini-budget.

Oct 12, 2022

IDBI Bank Disinvestment: Govt invites bids for buyers

According to the conditions of the EoI, private sector banks, non-banking finance companies (NBFCs), foreign banks and even alternative investment funds registered by SEBI can bid for IDBI Bank.

Oct 8, 2022

Siddaramaiah slams Centre for permitting areca nut import from Bhutan

K'taka areca nut farmers in distress, Siddaramaiah slams Centre over imports from Bhutan

The areca nut growers are already in distress because of various diseases attacking the crop and areca trees. During this difficult hour, the central government has betrayed them, he said

Oct 7, 2022

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