Economy News

7th Pay Commission: CGA to check for excess payment to Central government employees

The government had earlier asked the CGA to release salary arrears as proposed by the pay commission "without pre-check".

Oct 8, 2016

World's fastest-growing economy now has $372 billion in foreign exchange reserves

The Reserve Bank of India (RBI) says forex reserves jumped $1.22 billion as of September 30, 2016.

Oct 8, 2016

Foreign investors net buyers of Indian equities in first week of October

Foreign institutional investors (FIIs) buy Indian stocks worth Rs 1,686 crore on a net basis in October.

Oct 8, 2016

Q2FY17 preview: Consumer companies to report steady volume growth in September quarter, says Nomura

The bonanza to Central government staff from pay commission proposals and benefits of good monsoon won't reflect in Q2.

Oct 7, 2016

Tourist flow to Punjab hit hard due to Indian Army's surgical strikes

Industry insiders say that the tourist footfall to the holy city of Amritsar has plummeted as much as 45 per cent.

Oct 6, 2016

India Post Payments Bank to hire 1,710 managers ahead of September 2017 launch

The recruitment drive begins as India Post Payments Bank gets ready to roll out banking services from September 2017.

Oct 6, 2016

Indian, Chinese jobs under threat due to automation: World Bank president Jim Kim

Automation threatens 69 percent of jobs in India and 77 percent in China, says the WB president, citing research.

Oct 5, 2016

Multi-Agency Group to probe Indians named in Panama Papers: Centre tells SC

The move to set up the committee is part of the Central government's efforts to bring home black money parked abroad.

Oct 4, 2016

MPC repo rate cut decision: Misleading to call members 'dovish' or 'hawkish', says HDFC Bank analyst

In a note, Abheek Barua, Chief Economist, HDFC Bank, also says MPC could cut interest rates again in December this year.

Oct 4, 2016

Marginal impact of India-Pak tensions expected: Finance Minister

The impact on the rupee has been temporary and FDI continues to rise, Arun Jaitley said.

Oct 4, 2016

MPC flags off risks to India from global headwinds

Weak global growth and rising protectionism are matters of concern, says the six-member MPC.

Oct 4, 2016

Monetary Policy Committee cuts repo rate by 25 bps to 6.25%

The six-member MPC comprising RBI and government nominees cuts repo rate to 6.25 percent at its first meeting.

Oct 4, 2016

Spectrum auction: Bids fetch Govt Rs 56,872 crore on day 2

There was a high demand for the 1,800 Mhz band, but premium bands like 700 Mhz and 900 Mhz found no takers.

Oct 4, 2016

7th Pay Commission: Modi Govt accepts proposals on promotion for employees

The 7th Pay Commission's proposals on promotion (MACP) ensure time-bound career progression for Central government staff.

Oct 4, 2016

7th Pay Commission: Uri attack, surgical strikes may delay decision on allowances, says report

The recommendations of the 7th CPC are applicable to 47 lakh central government employees and 53 lakh pensioners.

Oct 3, 2016