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Economy News

World Crude Oil

Subhash Chandra, Dilip Shanghvi in race for oil blocks

Auction of small oil and gas blocks held on Monday witnessed huge interest from domestic firms. Nov 23, 2016
ban on currency rs 500 1,000 1000 note modi rbi demonetization black money scrapped new notes 2000 new 500 coins legal tender rbi sit narendra

'New Rs 500 note in Bengaluru ATMs' goes viral on WhatsApp; is it available at bank counters as well?

A viral message on WhatsApp states that new Rs 500 notes are in circulation in the city. Nov 23, 2016
ban on currency rs 500 1,000 1000 note modi rbi demonetization black money scrapped new notes 2000 new 500 coins legal tender rbi sit narendra demonetisation cash withdrawn sbi pnb canara bank atm cash counters banks queue rush cash mad

Demonetisation: Service charges on debit card usage waived off, says Economic Affairs Secretary

Indian Railways will also not levy service charges on e-ticket booking till December 31. Nov 23, 2016
demonetisation demonetization currency rbi rs 500 rs 1000 note currency pm modi arun jaitley trends rs 2000 inflation retail food vegetables perishable interest rate nomura sonal

Demonetisation effect: Retail inflation to fall further, says Nomura analyst

Perishable and non-perishable food items show divergent trends since demonetisation; overall, it's bound to reduce inflation. Nov 23, 2016
supreme court diesel cars ban lifted siam damage loss toyota maruti tata mahindra mercedez audi honda hyundai essar ruia vijay mallya

Demonetisation: Supreme Court refuses to stay proceedings in other courts

The apex court proceeded to issue notice in the transfer petition, but refused to stay proceedings pending in other courts. Nov 23, 2016
Indian films

OPINION: Why the Indian film industry lags behind US and China

The Indian film industry had revenues of $1.6 billion in 2015 but there are many factors hindering its growth. Nov 23, 2016
fake notes, rs 2000 notes, fake indian currency

Modi's demonetisation move good but FDI in retail still a taboo topic: CEO, Retailers Association of India

The demonetisation move by Modi has hit the retail sector due to the impact on cash transactions. In an exclusive chat with IBT, Kumar Rajagopalan talks about this and more. Nov 23, 2016
railway indian railway salaries pension

Demonetisation effect: Railways cancels service charge for online bookings until December 31

IRCTC currently charges service fee of Rs 40 per ticket for AC class and Rs 20 per ticket for non-AC sleeper class. Nov 23, 2016
india switzerland black money agreement tax haven aeoi adhia black money surgical strike demonetisation deal tax evasion stashed in

Switzerland will soon cease to be haven for tax-evading Indians

India and Switzerland sign an agreement whereby Indian tax authorities will be accessing data on money stashed in Switzerland. Nov 22, 2016
Petrol pump

Cut petrol prices sharply to boost growth: Analyst

Market participants are hopeful of some stimulus from the government amid demonetisation-induced slowdown risks to the economy. Nov 22, 2016
pharmacy

Govt considers refresher course for retail pharmacists to get valid drug selling license

India is facing acute shortage of qualified pharmacists at retail chemist shops. Nov 22, 2016
India steel production

India's crude steel production rises 12.3% in October 2016

While China, Japan and Russia also produced more crude steel year-over-year, the US, Germany and Brazil witnessed a drop in production. Nov 22, 2016
SBI

Financial strength of Indian banks remains 'fragile': Fitch

The rating agency also said that impact of government's demonetization move on Indian banking sector remained uncertain. Nov 22, 2016
Gopalpur port, which was hit by two cyclones in 2013-14, has commenced normal operations in December last year.

Shapoorji Pallonji to acquire majority stake in Gopalpur port

Gopalpur port is the second private port in Odisha promoted by Orissa Stevedores Ltd (OSL) and Sara International. Nov 22, 2016
Prime Minister Narendra Modi

PM asks citizens to share feedback on note ban through Narendra Modi App

The government said that the decision was taken to curb the black money menace in India and, therefore, had to be kept a secret. Nov 22, 2016
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