Economy News

RBI modifies shareholding norms for Indian private banks

Promoters (natural persons) can now hold 15 percent as against 10 percent earlier, according to the amended guidelines issued by the RBI.

May 13, 2016

Railways withdraws the Rs. 4 crore estimate sent to Latur for 'water train'

In the last one month, the railways has provided about six crore litres of water to Latur.

May 13, 2016

India's retail inflation snaps easing trend, interest rates seen on hold

Consumer price inflation, which the RBI targets in setting interest rates, rose at a faster-than-expected pace, to 5.39 percent last month.

May 13, 2016

India's bad loans could get worse before better: Report

Increasing provisions by banks to cover for bad loans will hurt profits and stop credit growth, in turn slowing the economy.

May 12, 2016

Indian Railways announces creation of non-fare revenue directorate to boost earnings

The non-fare revenue directorate's (NFR) mandate is to enhance non-tariff income by 10 to 20 percent, said Indian Railways.

May 12, 2016

10 lakh bank employees to go on nationwide strike on July 29

The employees are planning to protest against the government's proposed reforms in the banking sector.

May 12, 2016

UN retains India's economic growth projections for 2016, 2017

India is expected to grow at 7.3 percent and 7.5 percent post in 2016 and 2017, says UN in its latest report.

May 12, 2016

Tourist arrivals into India on e-tourist visa rose exponentially in April

In April 2016, 70,000 tourists visited India on e-tourist visa, up from 19,000 in April 2015.

May 12, 2016

India's gold demand falls sharply in March quarter, says World Gold Council

Overall gold demand plunged 39 percent while the jewellery segment demand fell to a seven-year low, according to a WGC report.

May 12, 2016

Global corruption costs trillions in bribes, lost growth: IMF

IMF said that tackling corruption is critical for the achievement of macro-economic stability.

May 12, 2016

Britain's exit from EU could create opportunities for India: Report

For India, negotiating with Britain will become easier as it would not have to abide by the free trade agreement.

May 12, 2016

China eyes $724 billion of transport investment over next 3 years

The investment splurge underlines China's reliance on high-levels of public sector spending.

May 12, 2016

Rakesh Jhunjhunwala resents 'son-in-law' treatment to FIIs: Report

Rakesh Jhunjhunwala, partner of Rare Enterprises, dismisses fears of FIIs pulling out of Indian markets due to the DTAA with Mauritius.

May 11, 2016

Drought to dent Indian economy by $100 billion: Assocham

Around 33 crore people across 256 districts across the country are currently facing water shortage.

May 11, 2016

India to tax Mauritius investments for first time since 1983

The tax will apply to investments made from April 1, 2017, and will be imposed at 50 percent of the domestic rate.

May 11, 2016