Economy News

Banks likely to sell bad loans to ARCs in bidders' absence

Banks and ARCs, both share a similar opinion that finding potential bidders for the accounts in the second list released by the central bank might be very difficult due to the glut of the stressed assets.

Jan 9, 2018

'Make in India' setback: Centre withdraws Rs 32,000 crore minesweeper project

The move comes as a major blow to the Indian Navy's efforts to boost its mine-warfare capability and is also seen as a big setback for the "Make in India" initiative.

Jan 8, 2018

Budget 2018: Centre seeks to woo middle class for 2019 polls with tax benefits

Discussions are around the benefits such as an increase in the tax exemption limit, a return of standard deduction in some form as well as additional benefits for health insurance and even fixed deposits.

Jan 8, 2018

Budget 2018: Last Budget of this govt to be presented on February 1

The Budget Session will commence on January 29 and Finance Minister will present Union Budget 2018 on February 1.

Jan 6, 2018

GST impact to slowdown India's 2017-18 GDP growth to 6.5%

Implementation of GST and subsequent slowdown in the manufacturing sector is expected to drag down India's growth to 6.5 percent in 2017-18.

Jan 5, 2018

Good news for SBI customers as bank mulls reducing minimum balance requirement for savings accounts

The State Bank of India is planning to cut down its minimum balance requirement for the savings account.

Jan 5, 2018

Income-Tax relief: Section 80C limit to go up to Rs 2 lakh in Union Budget 2018?

Arun Jaitley may increase section 80C investments limit to Rs. 2 lakh in the Union Budget 2018.

Jan 4, 2018

New Rs 10 notes to have chocolate brown colour base, flash Konark Sun Temple

New notes of the denomination of Rs 10 will soon be rolled out in India. The new notes will have chocolate brown colour as the base.

Jan 4, 2018

#RailFail trends on Twitter after average rail fare price hike

#RailFail trended on Twitter on 2 January as many people returned to work after the Christmas holidays, only to discover average rail fares across the UK had gone up by 3.4%. The price rise is the biggest increase since 2013, resulting in protests at 40 stations across the U.K.

Jan 2, 2018

Factory activity expands at fastest pace in 5 years in December: PMI

The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, rose to 54.7 in December from November's 52.6, marking its fifth straight month above the 50 level that separates expansion from contraction.

Jan 2, 2018

Fund allocation for school education could increase by up to 14% in Budget 2018-19

The government's financial constraints will make it difficult for them to spend aggressively or increase budgetary allocation in a large way.

Jan 2, 2018

India to see $50 bn mergers and acquisitions in 2018: Assocham

The forecast in 2018 was picked by Assocham Year Ahead Outlook from the trends in 2017 when India's M&A transactions witnessed a quantum jump of 170 per cent in valuations and over 70 per cent in the number of transactions.

Jan 1, 2018

SBI cuts base rate to 8.65% to benefit retail borrowers

With this reduction from the earlier base rate of 8.95 percent, SBI's base rate has become the lowest among commercial banks, coming as a relief to its many retail borrowers, particularly of home and student loans.

Jan 1, 2018

A flashback to 5 major economic events in 2017

Besides the implementation of demonetisation and Goods and Services Tax (GST), read to know the other major economic events that India witnessed in 2017.

Dec 30, 2017

Electronic goods made in India exceeds imports for the first time in 2016-17

Domestic manufacturing has gained momentum and witnessed a strong growth over the past three financial years.

Dec 30, 2017