Economy News

PM Modi's demonetisation drive a 'black day' for India's democracy, economy: Congress

On November 8, 2016, the Centre had declared Rs 500 and Rs 1,000 notes as non-legal and introduced new Rs 500 and Rs 2,000 notes.

Nov 8, 2018

India suffers WTO setback in Japan's steel tariff dispute

India fears a WTO ruling on safeguard tariff following a Japanese challenge on steel import duty will have an impact on import from other sources

Nov 8, 2018

Indian Bank raises Rs 110 crore through bonds

According to the statement, the credit rating assigned to these bonds is "CRISIL AAA/Stable" and "CARE AAA".

Nov 7, 2018

Centre demands one third of RBI reserve, RBI says no

The issue is related to the Centre seeking transfer of Rs.3.6 lakh crore that is more than a third of the total Rs.9.59 lakh crore reserves of RBI.

Nov 6, 2018

Raghuram Rajan defends RBI call for autonomy

Former Reserve Bank of India Governor Raghuram Rajan defended the central bank's call for greater autonomy from the government, saying ultimately the nation stands to benefit from an independent and robust RBI.

Nov 6, 2018

Rupee recovers 21 paise against US dollar in early trade

The dollar's weakness against some currencies overseas and a better opening of the domestic equity market also supported the rupee, dealers said.

Nov 6, 2018

Reserve Bank of India bought 37% of gold reserves in Q3 of 2018: WCD report

RBI has bought 21 tonnes of gold between January to September, with the highest purchase in the Q3. Currently, the total gold reserves with RBI is 566 tonnes.

Nov 5, 2018

Sensex down 150 points, rupee at 73

"The decline in the domestic currency is because of the US dollar, which is stronger as the their economy is doing well. As far as markets are concerned, the volatility is expected to continue. It is trading in a tight range and will continue for few months," Astha Jain, Senior Analyst, Hem Securities.

Nov 5, 2018

Global cues, rupee dent equity indices

The Indian rupee opened on a weaker note at 72.88 per US dollar from its previous close against a greenback.

Nov 5, 2018

US to impose 'toughest ever' sanctions on Iran

The US stance has already inflicted serious pain on Iranians, with the country's currency, the rial, losing more than two thirds of its value since May.

Nov 5, 2018

CIC issues show-cause notice to RBI guv Urjit Patel for non-disclosure of wilful defaulters' list

The CIC has asked Patel to explain why a maximum penalty should not be imposed on him for "dishonouring" the Supreme Court verdict.

Nov 5, 2018

India may trade with Iran in rupee for oil supplies

India is expected to stimulate a previous arrangement of making payments in rupee in an account with UCO Bank. Since the bank does not have any international exposure, it would be safe from any sanctions.

Nov 4, 2018

China pats Pakistan for 'efforts' to have peace talks with India

During the ongoing China visit by Pakistan Prime Minister Imran Khan, Beijing and Islamabad issued a joint statement which had some references to India and the issues where it is involved.

Nov 4, 2018

Early Diwali for blue chip stocks at Dalaal street; TCS, SBI gain

It is to be noted that the rise in oil prices and trade war initiated by the Trump administration has sent ripples across the stock markets, globally.

Nov 4, 2018

Swadeshi Jagran Manch, Modi govt want Urijit Patel out of RBI: Chidambaram

SJM reportedly insisted that Reserve Bank of India (RBI) officials should exercise the discipline of restraint or resign.

Nov 3, 2018