Economy News

Bank of China gets green signal from RBI to open branches in India

Bank of China would only be the second Chinese bank after Industrial and Commercial Bank of China Ltd (ICBC) to open a branch in India.

Jul 5, 2018

Karnataka Budget 2018 highlights: Homeland security university in Shivamogga, Film City in Ramanagara

Farm loan waiver was a marquee offer by Kumaraswamy. But he ran into trouble with the coalition partner over this. The CM has managed to deliver a Rs 34,000 crore loan waiver in the Karnataka budget, but is that enough? Farmers have been demanding waiver of all loans, which runs into a whopping Rs 1.14 lakh crore.

Jul 5, 2018

Oil prices drop as Trump asks OPEC to stabilise market

A key driver of the rise in prices has been the OPEC-Russia deal to cut oil output, compounded by collapsing Venezuelan production and the U.S. decision to end the Iran deal, National Australia Bank (NAB) said in its July outlook.

Jul 5, 2018

Former RBI deputy governor KC Chakrabarty stopped from travelling abroad

KC Chakrabarty, who served as the RBI deputy governor from 2009 to 2014, was stopped when he was travelling to London from Mumbai's Chhatrapati Shivaji International Airport in May.

Jul 4, 2018

Central government accepts Sunil Mehta committee's report on bad loans

The committee has recommended a five-pronged strategy under Project 'Sashakt' to deal with Non-performing Assets in the country's banking system.

Jul 3, 2018

Global Economy: Asian factories lose momentum even before Trump's tariffs kick in

Asian exporters lost momentum last month even before tariffs on U.S. and Chinese goods kick in this week, pressuring regional factory activity in a worrying sign the Trump administration's "America First" protectionist policies could derail global growth.

Jul 2, 2018

Foreign Portfolio Investors pull out Rs 48,000 crore; highest in a decade

The latest outflow is the biggest since January-June 2008 when Foreign Portfolio Investors (FPIs) had withdrawn Rs 24,758 crore from the capital markets including equity and debt.

Jul 2, 2018

FDI inflow growth rate plummets to 5-year low in FY18

The incumbent government had managed to initially multiply the FDI inflow growth rate to 27 per cent in 2014-15 and 29 per cent in the following year, but it nosed dived to just 8.67 per cent in 2016-17

Jul 2, 2018

LIC lost 18 out of 21 PSB investments in the past two years

The trend is completely different when it comes to its investment in private sector banks where the value of LIC's investment is up by 50 percent.

Jul 2, 2018

GST was thrust upon an unprepared nation, says former Finance minister P Chidambaram

According to the Congress leader, the only section that appeared to be happy about the GST was the tax administration that had acquired extraordinary powers that frighten the average business person and the common citizen. "GST has become a bad word" for businesses and commoners alike, he said.

Jul 1, 2018

One year of GST: Prime minister Modi acknowledges 'positive change in the Indian economy' on Twitter

Narendra Modi congratulated India on the completion of one year since the implementation of GST, touted as the biggest economic reform since Independence.

Jul 1, 2018

Guide to file Income Tax Return (ITR) online

The last date for filing tax returns (online or offline) is July 31.

Jun 30, 2018

LIC to rescue debt-ridden IDBI bank as IRDAI approves majority stake

Insurance sector rules do not allow an insurance player or company to invest more than 15% in a company, so LIC was taken as a special case.

Jun 30, 2018

India plans to stop oil imports from Iran by November

The step comes as a reaction to the US communication to all the countries, including India and China, to stop their oil imports from Iran.

Jun 29, 2018

Climate change could erode India's GDP by 2.8%: World Bank

The effect of climate change could also lower the living standards of nearly half the country's population by 2050, as average annual temperatures are expected to rise by 1-2 percent over three decades.

Jun 29, 2018