Economy News

Petrol price slashed by Rs 1.46 per litre, diesel by Rs 1.53 per litre

Petrol price will be priced Rs 65.93 per litre in Delhi after the revised price, down from Rs 67.62 per litre.

Nov 15, 2016

Government to present Union budget on February 1

The move is aimed at ensuring that state governments can disburse funds for various schemes from the beginning of the financial year on April 1.

Nov 15, 2016

India's exports rise sharply in October, gold imports spurt; trade deficit widens

External trade data for October shows exports rise almost 10 percent and imports increase 8 percent; gold imports up 108 percent, YoY.

Nov 15, 2016

Demonetised currency worth Rs 87 lakh seized in Kerala, Chhattisgarh, Telangana

Demonetised currency worth Rs 62 lakh seized from a man in Kerala on Tuesday morning.

Nov 15, 2016

Supreme Court refuses to stay demonetisation, asks for more steps to ease inconvenience to common man

The apex court agreed in-principle with the government's contention that there will be "some collateral damage" of the move.

Nov 15, 2016

Demonetisation: Jewellers, farmers, Jan Dhan accounts under scanner

Income tax authorities and other agencies are keeping a tab on jewellery stores, farmers and unusually high deposits in Jan Dhan accounts.

Nov 15, 2016

Theresa May: Change is in the air

British Prime Minister Theresa May said change is in the air during a speech about the current political landscape, the EU and trade at the Lord Mayors Banquet in London.She described the election of Donald Trump as US president and Britains vote to leave the European Union as proof that change is happening. She also called on business leaders to help her government shape an economy that works for everyone.

Nov 15, 2016

Gujarat diamond merchant denies rumours of surrendering Rs 6,000 crore cash

Laljibhai Patel had purchased PM Modi's suit auctioned last year for Rs 4.3 crore.

Nov 15, 2016

Indelible ink to mark fingers of people exchanging demonetised notes: Economic Affairs Secretary

Shaktikanta Das says people have been coming back to banks to withdraw or exchange money multiple times.

Nov 15, 2016

Demonetisation has ended terror-funding, stone-pelting in Jammu and Kashmir: Manohar Parrikar

Parrikar was speaking at an event organised by Bharatiya Janata Party lawmaker Atul Bhatkhalkar in Mumbai.

Nov 15, 2016

Demonetisation: RBI waives all ATM transaction charges till December 30

The RBI had issued a circular on November 8 advising all banks to carry out free of cost financial transactions at their own ATMs.

Nov 15, 2016

Rs 2000 note quality test: Here's what happens when you dip new currency in water or crush it

The Rs. 2,000 currency note passes several durability tests with flying colours.

Nov 14, 2016

Do you know how RBI plans to dispose of the old Rs 500 and Rs 1,000 notes ?

The RBI will need to dispose of the 2,203 crore notes of Rs 500 and Rs 1,000 denominations since the government has demonetised them.

Nov 14, 2016

Demonetisation: Cong-TMC to meet today as Opposition unites against Modi govt ahead of winter session

Trinamool leaders will be leading a protest march from the Parliament to the Rashtrapati Bhawan demanding the government to revoke the ban.

Nov 14, 2016

Banks were asked to install CCTVs prior to demonetisation of currency notes

The objective was to enable banks to track those who would act as proxies for cash hoarders while depositing wads of Rs 500, Rs 1,000 notes.

Nov 14, 2016