Economy News

US asks India to stop importing oil from Iran or face sanctions

Iran is one of the major oil suppliers of India, only behind Iraq and Saudi Arabia. During April 2017 and January 2018, it supplied 18.4 million tonnes of crude oil.

Jun 27, 2018

IT department attaches Benami properties worth Rs 43 billion

The Benami legislation came into existence in 1988. It was refined and made more stringent by the Narendra Modi government in November 2016.

Jun 26, 2018

Global cues subdue equity indices, Sensex ends 200 points lower

On the currency front, the Indian rupee weakened by 29 paise against the US dollar to 68.13, from its previous close of 67.84 per greenback.

Jun 25, 2018

Bleeding Punjab National Bank sets up 6,900 loan recovery cells

Around 3,000 additional personnel from various other operations have been moved to the stressed asset vertical, whose sole job is to focus on recoveries.

Jun 25, 2018

3 reasons why blockchain is the future of supply chain and manufacturing

"It's not the organisations that are competing. It's the supply chains that are competing," says Wael Safwat of Supply Chain Management Association (SCMAO).

Jun 22, 2018

Swiggy latest to join unicorn club, raises $ 210 million from DST Global, Naspers

Swiggy is leading the food delivery market in India with around 11 million monthly orders followed by Zomato at about 7 million monthly orders across India and UAE

Jun 22, 2018

Indian Banks' Association denounces series of chargesheets and arrests of bankers; cries foul play

Bank of Maharashtra CEO Ravindra Marathe, executive director Rajendra Gupta and former CEO Sushil Muhnot and two bank officials have been arrested by Maharashtra Police's Pune Economic Offences Wing.

Jun 22, 2018

As countermeasure, India hikes import duty on 29 US products

A Finance Ministry notification said the duty hike would come into effect immediately for 28 products, while for the marine product artemia the increased duty would be effective from August 4.

Jun 21, 2018

Bullet Train project faces another hurdle as farmers protest in Surat

The project is expected to acquire around 850 hectares of land across the districts of Ahmedabad, Kheda, Anand, Vadodara, Bharuch, Surat, Navsari and Valsad, affecting around 5,000 families.

Jun 20, 2018

China vows to hit back as Trump plans $200 billion additional tariffs on Chinese imports

The developments suggest an intensifying trade dispute that the International Monetary Fund fears would be one of the biggest risks to global growth.

Jun 19, 2018

Chanda Kochhar asked to go on leave until completion of internal inquiry

ICICI Bank's Board has, at its meeting on Monday, decided to appoint Sandeep Bakhshi as the lender's whole time director and chief operating officer (COO).

Jun 19, 2018

DBT savings could touch Rs 40,000 crore in current Financial Year

Total savings since the inception of Direct Benefit of Transfer in 2013 to cross Rs1.25 lakh cr.

Jun 18, 2018

India set to impose $240 mn retaliatory tariffs on imports from US

India has submitted a revised list of 30 US imports, including apples, almonds, phosphoric acid and Harley-Davidson motorcycles, to the WTO on which it intends to impose retaliatory tariffs

Jun 17, 2018

FII inflow to drop as US Federal Reserve hikes interest rate

The Indian market has experienced a volatile period in terms of FII investments since the beginning of the year. While the 25 bps hike by the US Federal Reserve was not really a surprise, it is definitely affecting the Indian economy.

Jun 15, 2018

US Federal Reserve raises rates amid stronger inflation

Fed Chairman Jerome Powell said that "the economy is doing very well".

Jun 14, 2018