Economy News

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

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

Gold hits over 6-year high of Rs 32,625 on festive buzz, global cues

Silver, however, remained weak and fell by Rs 130 to Rs 39,600 per kg due to slackened demand from industrial units.

Oct 25, 2018

Made in India smartphones a big hit as home-grown manufacturers create 4.5 lakh jobs in last 4 years

India has more than a billion wireless subscribers, and about 380 million of them do not yet have a smartphone.

Oct 25, 2018

Karnataka's tax collection up 11% in 6 months

After forming a post-poll alliance with Congress, JD-S leader Kumaraswamy had taken the chief minister's office on May 23, and presented his maiden budget on July 5, as he also holds the finance portfolio.

Oct 24, 2018

Sensex, Nifty rebound on positive global cues, lower crude oil prices

The decline in the crude oil prices gave recovery for the global markets and aided the domestic markets to trade in the positive during the afternoon session of the trade on Wednesday.

Oct 24, 2018

Cyrus Mistry launches new global venture on second anniversary of his exit from Tata Sons

Cyrus Mistry launches a new global venture that provides strategic insights and advice to businesses, incubate new ventures and provide seed, early stage and growth capital to startups in India and worldwide.

Oct 24, 2018

Q2 results, global cues subdue indices; Sensex sheds 290 points

Mixed second quarter results, combined with negative global cues and concerns over a liquidity crisis in the NBFC sector, subdued the key domestic indices on Tuesday.

Oct 23, 2018

Nafed to offload 200 tonnes of onion daily in Delhi to arrest price rise

Retail prices of onion, the main kitchen stable, have shot up to Rs 30-40 per kg because of tight supplies from the producing states, as per the trade data.

Oct 22, 2018

Rupee fall, high non-performing assets still cause for concern: Former RBI governor Bimal Jalan

Talking about economic measures, he said the Narendra Modi-led government has launched several reforms, including the GST, Insolvency and Bankruptcy Code and direct benefit transfer scheme, which are good for the economy.

Oct 21, 2018

Finance Ministry extends deadline to October 25 for filing September GST returns

Businesses had expressed concern about the October 20 deadline, saying there would be trouble in reconciling their sales returns with the purchase returns filed by their suppliers.

Oct 21, 2018

RBI's monetary policy committee highlights inflation spike risk, signal rate hikes

Headline inflation for the first quarter of the fiscal year to March 2020 is projected at 4.8 per cent compared with the MPC's mandated target of 4 per cent.

Oct 21, 2018

European Commission approves $7.5 billion acquisition of GitHub by Microsoft

The Commission said that effective competition in the relevant markets would continue and Microsoft would have no incentive to undermine the open nature of GitHub's platform.

Oct 20, 2018