Economy News

'Raghuram Rajan's policies led to slump, not demonetisation'

Niti Aayog vice-chairman Rajiv Kumar says Rajan's policies on stressed assets resulted in a steep rise in non-performing assets in the banking sector. This led to a drastic shrinking of credit for the small scale sector, he adds.

Sep 3, 2018

Rupee depreciation not always leads to export growth: EEPC

EEPC pointed out that the best thing in the interest of exporters is a stable currency. In any case, the present depreciation of rupee should get a contextual perspective that it is not the Indian currency alone which has lost ground against the US dollar.

Sep 3, 2018

Rupee up by 23 paise; strengthens to 70.77 against US dollar

Official data released after market hours on Friday showed India's economy grew at a two-year high of 8.2 per cent in the April-June quarter of 2018-19 on the strong performance of manufacturing and agriculture sectors. This has increased its lead over China to remain the world's fastest-growing major economy.

Sep 3, 2018

Wipro bags biggest ever contract worth $1.5 billion from US-based Alight Solutions

In a statement, Wipro said that "this deal will result in revenues of $1.5-1.6 billion for Wipro over the tenure. This is Wipro's largest win to date."

Sep 2, 2018

GST collection falls to Rs 93,960 crore, lowest in FY19

The reasons attributed to the low GST collection this month was seasonal factors as well as a probable deferment of purchases by consumers after rate cuts were announced by the GST Council on July 21.

Sep 2, 2018

Indian Railways to go eco-friendly, ties up with GAIL to use natural gas in production

Railway Board Chairman Ashwani Lohani announced that almost 23 workshops will use natural gas by year end under the first phase of the project.

Sep 1, 2018

Loss-making SAIL declines dividend to government for FY18

SAIL, which is India's second-biggest steel company by current levels of production, said it had been due to pay out Rs. 21.71 billion, including tax to the government based on its "net-worth" last financial year.

Sep 1, 2018

Home loans to get costlier now as SBI hikes lending rate by 0.2 percent

The rate hike by bank comes a month after the Reserve Bank of India (RBI) hiked benchmark lending rate, called repo rate, by 25 basis points to 6.5 per cent.

Sep 1, 2018

GDP grows 8.2% in June quarter, best in over 2 years

Bank deposits fell Rs 719.00 billion to Rs 115.11 trillion in the two weeks to August 17, the Reserve Bank of India's weekly statistical supplement showed on Friday.

Aug 31, 2018

Air India gets another lifeline as govt decides to infuse additional Rs 980 crore

A major part of these funds - around Rs 550 crore - will be used to service interest on non-convertible debentures (NCDs) that are due in September.

Aug 31, 2018

Rupee hits fresh low of 71; drops 40 paisa against the US dollar

Apart from high crude oil, the outflow of foreign funds from the Indian equity and bond markets has had an adverse impact on the rupee.

Aug 31, 2018

Is Modi govt planning massive 15% hike in natural gas prices?

This hike could be seen as a means to profit in the oil market in India in companies like ONGC and Oil India.

Aug 30, 2018

SBI warns of 'noticeable increase' in counterfeit notes detected in new Rs 500, Rs 2,000 notes

The report said that there was a "noticeable increase" in the fake currencies detected in the denomination of the new Rs 500 and Rs 2,000 notes which are up by 4,178 per cent and by 2,710 per cent respectively

Aug 30, 2018

Chanda Kochhar case: ICICI tells SEBI that it was unaware of the conflict of interest

ICICI bank was responding to a show cause notice issued by SEBI on 23rd May, the bank submitted that it was not aware of any conflict of interest and hence could not make any disclosure to the market regulator which is mandatory under the listing regulations.

Aug 30, 2018

99.3% demonetised notes returned to banks: RBI

RBI spent Rs 7,965 crore in 2016-17 on printing new Rs 500 and Rs 2,000 and other denomination notes.

Aug 29, 2018