Economy News

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No new Rs 1,000 notes, says Economic Affairs Secretary Shaktikanta Das; Is this another govt flip-flop after demonetisation?

The statement runs counter to Das' previous remarks on November 10, when he said new Rs 500 and Rs 1,000 notes would be introduced with special features and new designs in a few months.

Feb 22, 2017

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India is now among the top 10 trading partners of US

Provisional data for 2016 shows that India moved two ranks to become the 9th trading partner of the US.

Feb 22, 2017

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7th Pay Commission could give an unintended bonanza to private sector employees

In its report, the 7th Central Pay Commission has proposed doubling the gratuity ceiling for Central government employees to Rs 20 lakh.

Feb 22, 2017

BMC elections 2017: 5 reasons why voter turnout in Mumbai was the highest in 25 years and a headache for BJP

The 55 percent turnout for the BMC elections — for which Maharashtra Chief Minister Devendra Fadnavis congratulated Mumbaikars — could well be a body blow for the BJP.

Feb 22, 2017

Bharat QR code: Here are 5 reasons why this digital transaction method is a win-win

From BHIM app to Aadhaar Pay, the Indian government has been working to increase digital transactions in the country and reduce its dependence on cash.

Feb 21, 2017

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Reserve Bank of India to issue new series of Rs 1,000 notes soon: Report

A media report says printing of the new series of Rs 1,000 notes has already commenced, just four months after demonetisation.

Feb 21, 2017

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China's PBOC mulls lower reserve norms to free up money for lending

The rider is that the banks lend money to weaker, cash-starved sectors of the economy.

Feb 21, 2017

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Rosneft-led consortium plans to complete Essar acquisition next month: Sources

Acquiring the refiner will give Russia's state-owned oil major Rosneft access to India, one of the world's fastest-growing energy markets.

Feb 20, 2017

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Deposits, bond yield stabilising after note ban-induced volatility

In separate updates, DBS Bank and Nomura say digital transactions are up, deposit growth stable and bond yield rises from low levels.

Feb 20, 2017

Demonetisation: RBI increases weekly cash withdrawal limit for savings bank account to Rs 50,000 from today

The RBI had imposed several limits on cash withdrawals from banks and ATMs following PM Modi's decision to demonetise old notes of Rs 500 and Rs 1,000 on November 8, 2016.

Feb 20, 2017

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German finance minister denies 'Grexit' threat

German Finance Minister Wolfgang Schaeuble said Greece would not have problems if it implemented agreed reforms, but would if it fails to carry these out.

Feb 20, 2017

GST Draft Compensation Bill in next Parliament session: Will it lead to more ruckus by the Opposition?

The Congress and the BJP will look to claim credit for the Bill, and debate on it could well lead to the stalling of Parliament.

Feb 18, 2017

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Modi govt skips crucial data on foreign tourism

Details of foreign tourist arrivals (FTAs) and foreign exchange earnings (FEEs) are published monthly; this time a key information is missing.

Feb 18, 2017

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Domestic air traffic: How IndiGo, Jet Airways, SpiceJet, GoAir, Air India fared in January 2017

IndiGo, Air India, Jet Airways and SpiceJet flew almost 10 million passengers in January 2017; India is the fastest-growing civil aviation market globally.

Feb 18, 2017