Economy News

Demonetisation continues to haunt India as notes printed in 2016 becomes unusable

The scale of the problem is so huge that apart from the Rs 2,000 and Rs 500 notes, even the newer Rs 10 notes, which were issued this year have also started to become 'unusable'.

14 days ago

With crude at year's low, fuel smiles on PM Narendra Modi in election year

Riyadh was hoping that it could piece together a plan to announce an output cut at the Organisation of Petroleum Exporting Countries (Opec) summit next week, but the Russian response hasn't been positive.

14 days ago

Slashed GDP growth estimates for Manmohan Singh years sparks row

The Central Statistics Office (CSO) had estimated that India's GDP grew by 8.5 per cent in the 2010-11 financial year, and not at 10.3 per cent as previously estimated.

14 days ago

RBI stricture on promoter share dilution worries investors ahead of December deadline

The share prices of Bandhan Bank and Kotak Mahindra Bank have tanked substantially following the RBI directives.

15 days ago

India offers cash-strapped Maldives $1 billion in loans, but is there a catch?

Under the leadership of former president Abdulla Yameen, Maldives is known to have borrowed a large amount of money from China and the funds were used to build infrastructure and houses as part of Beijing's Belt and Road initiative

15 days ago

Major relief for NBFCs and small business as RBI eases hedging norms

In a circular issued by the central bank, for ECBs which have a maturity period between three-five years, the mandatory hedging requirement has come down to 70%, instead of the earlier level of 100%.

16 days ago

Sensex ends up 160 points, financial stocks close flat

The Sensex settled up 159.06 points or 0.45 per cent at 35,513.14, from its previous close of 35,354.08. It touched an intra-day high of 35,555.16 and a low of 35,262.97.

16 days ago

Govt-RBI tussle is far from over; turf war could spill over at Dec 14 meeting

A Bloomberg report says the government nominees on the board will ask RBI to take steps to prevent banks from accumulating bad loans rather than penalise them after the fact.

16 days ago

Indian workers' pay rising fastest in South Asia, but wage inequality is high too

The report also finds that globally women continue to be paid approximately 20 per cent less than men.

16 days ago

Modi govt's U-turn on subsidies revs up hybrid car makers

Heavy industries department seeks incentives for buyers of at least 10,000 hybrid cars with lithium-ion batteries.

16 days ago

Booster shot for economy as state govts accelerate capital spending

For the 20 major states, the aggregate capital expenditure during the April-September period stood at 1.31 lakh crore which is 16 per cent higher than in the year-ago period.

17 days ago

Indian delegation to explore contracts in $500 billion Saudi infra projects

Union Commerce Ministry said that the tour has been organised by the Economic Diplomacy Division of India's External Affairs Ministry (MEA). The delegation to Riyadh will be led by MEA Additional Secretary Manoj Bharti.

17 days ago

7% of GDP and 5 mln jobs: Gems exports sector stalls as credit crunch bites

According to the Indian brand Equity Foundation, the Gems and Jewellery (G&J) sector in India contributes around 29 percent to the global jewellery consumption.

17 days ago

EU approves Theresa May's Brexit deal; UK Parliament to vote in December

The UK Parliament is expected to vote on the deal in early December but its approval is by no means guaranteed, with Labour, the Lib Dems, the SNP, the DUP and many Conservatives MPs set to vote against.

17 days ago

EPFO payroll data: 79 lakh jobs created in last 13 months

The data also showed that in September employment generation grew more than 2 times to 9.73 lakh in September as against 4.11 lakh in the same month last year.

19 days ago