Economy News

RBI tightens grip on non-compliant NBFCs; cancels 368 licences

The financial stability report made by the Reserve Bank of India stated that the aggregate balance sheet size of the NBFC sector stood at Rs 22.1 trillion as of March 31.

Aug 8, 2018

IMF calls for privatisation of Indian banks; warns against government ownership

The International Monetary Fund affirmed the significance of a comprehensive plan to improve the governance, internal controls, and operations of public sector banks, which also included privatisation of the public sector banks.

Aug 8, 2018

Who is Swaminathan Gurumurthy? Centre appoints RSS confidant to the RBI board

Gurumuthy is an economist by profession, a chartered accountant, and a commentator on political and economic affairs who is associated with the right-wing Rashtriya Swayamsevak Sangh.

Aug 8, 2018

Amid trade war with US, China reports its first current account deficit in 20 years

China has witnessed a steady fall in its current account surplus since the global economic crisis of 2008.

Aug 8, 2018

India needs to tighten monetary policy to curb inflation, says IMF

The inflationary pressures were mainly driven by higher oil prices and a falling rupee.

Aug 8, 2018

Trade war: India becomes dumping ground for Chinese and Japanese steelmakers

The steel imports from the world's largest steel producer soared 67 percent to 3,62,000 tonnes in the April-June period as against 2,17,000 tonnes in the previous quarter.

Aug 6, 2018

Saudi Arabia halts new trade deals with Canada, expels Canadian ambassador

Saudi Arabia is one of Canada's biggest export markets in the Gulf region and more than 15,000 Saudi students attend Canadian schools and universities.

Aug 6, 2018

Q1 results season, global trade tensions to affect markets' moves

Market analysts opined that crude oil prices and developments in the Monsoon Session of Parliament will also affect the markets' movement.

Aug 5, 2018

Trade war impact? China loses out to Japan as world's second-biggest stock market

Chinese currency and equities have been hit hard this year following the trade spat with the US and efforts by the government to check a slowing economy and cut debt.

Aug 3, 2018

Switzerland can give bank client data to India in tax dodge case: Court

Last year, the Swiss Supreme Court had rejected a French request for help in investigating a married couple for tax offences, ruling that data stolen from HSBC's Geneva private bank was inadmissible.

Aug 2, 2018

Public sector banks reluctant to disburse crop loans; Maharashtra govt threatens to take action

The Maharashtra government had earlier announced a loan waiver of R. 34,000 crore in June which was expected to help 89 lakh farmers in debt across the state.

Aug 2, 2018

Bandhan Bank becomes 7th largest Indian bank based on market capitalisation; here are the top 10

Bandhan Bank stands at Rs 84,325.35 crore after its shares rose by one percent on BSE at Rs 706.95. Comparatively, Yes Bank's market cap was Rs 84,262.14 crore. Its shares were trading 0.6 percent lower at Rs 365.70 from its previous close on BSE.

Aug 1, 2018

Godrej's alternate land 'suitable' for Mumbai-Ahmedabad bullet train, agency tells Bombay HC

Godrej and Boyce Manufacturing Company Limited had earlier objected to the acquisition of its prime 39,547 sqm property in Vikhroli for the mega project.

Aug 1, 2018

India's June infrastructure output growth hits 7-month high of 6.7 percent

The growth in output compares with an upwardly revised 4.3 percent year-on-year growth in May. During April-June, the annual output growth was 5.2 percent, data showed.

Jul 31, 2018

Oil prices drop as OPEC production increases in July

Oil prices slipped on Tuesday after a report showed that OPEC production reached a 2018 high in the month of July, although the losses were limited as concerns about supply lingered.

Jul 31, 2018