Economy News

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RBI governor should work with govt or quit: RSS economic wing head

Ashwani Mahajan, the chief of Swadeshi Jagran Manch, said that RBI should not see the suggestions of the government negatively.

Nov 1, 2018

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India's current economic scenario not like 1991 crisis: Bimal Jalan

The RBI had recently underlined the importance of its autonomy and warned that the government's focus on short-term goals could be harmful to the economy.

Nov 1, 2018

India jumps 23 spots to 77th rank in World Bank's 'Ease of Doing Business' index

New Zealand sits on top of the list of 190 countries. Singapore, Denmark, and Hong Kong take the next 3 spots.

Nov 1, 2018

Amid IL&FS fiasco, SEBI plans to overhaul functioning of credit rating agencies

The regulator is of the opinion that since the ratings are critical to any debt instrument and an important piece of information in the investment process of fixed income instruments, a framework which is free from conflict and bias must be in place to check malpractices in the financial system.

Oct 31, 2018

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RBI chief Urijit Patel may consider resignation amid differences with Modi govt: Report

The development has come against increasing tension between RBI and Centre after the RBI deputy governor Viral Acharya, in his speech warned of potentially catastrophic consequences if the Centre dilutes the autonomy of the apex bank.

Oct 31, 2018

Arun Jaitley hits back at RBI, says it allowed lending excesses

Government officials were very upset by RBI Deputy Governor Viral Acharya's comments, which included a reference to problems created in Argentina when its government meddled in central bank affairs.

Oct 30, 2018

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India, Japan seal $75-bn currency swap agreement

Economic Affairs Secretary Subhash Chandra Garg added the $75-billion agreement was one of the largest swap arrangements in the world.

Oct 30, 2018

Banks can get fire audit of currency chests done by approved agencies, says RBI

According to the RBI's annual report, there are around 3,654 small coin depots and 3,975 currency chests in the country out of which 2,575 are managed by State Bank of India.

Oct 29, 2018

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Price rally takes sheen off India's festive buying; 'consumers waiting for a correction'

Gold futures were trading around Rs 32,070 per 10 grams on Friday, having touched Rs 32,311, the highest since July 6, last week.

Oct 28, 2018

RBI Deputy Governor Acharya says ignoring central bank's independence could lead to catastrophe

In a sign of a mounting policy struggle between India's central bank and the government of Prime Minister Narendra Modi, a top bank official warned on Friday that undermining a central bank's independence could be "potentially catastrophic".

Oct 27, 2018

Doubling down: IndiGo airline to expand, defend turf despite loss

IndiGo's success has been built on a model of simplicity, keeping costs low through the use of an all-Airbus fleet for metro flights and no codeshares with other airlines or a frequent flyer programme.

Oct 27, 2018

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ICICI Bank second-quarter profit halves, but asset quality improves

Net profit came in at Rs 9.09 billion ($123.84 million) in the three months ended September 30, compared with Rs 20.58 billion a year earlier, the private-sector bank said on Friday.

Oct 26, 2018

Yes Bank plunges on second-quarter profit miss; brokerages slash target prices

Shares of Yes Bank Ltd dived 15 percent to a four-week low on Friday, after the lender posted a weaker-than-expected quarterly profit due to higher provisions and weak asset quality.

Oct 26, 2018