Economy News

Former officials of Bank of India arrested in Rs 2,654 crore loan case

This case is just another addition to the series of arrests made by the investigative agencies against the retired and serving senior officials of the Public sector Banks (PSBs)

Jul 7, 2018

Mark Zuckerberg leapfrogs Warren Buffett as world's third-richest person; here are the top 3

The 34-year-old business mogul made the cut into the top 3 world's richest billionaires list after Facebook shares climbed up to 2.4 percent. Mark Zuckerberg is now worth $81.6 billion which is $373 million more than the billionaire investor Warren Buffett.

Jul 7, 2018

Finance Secretary hints at including petroleum products under GST

The government has also hinted at lowering the tax slabs under GST once the revenue increases. After early hiccups, the tax collection has picked up pace with the total amount going over Rs 1 lakh crore.

Jul 6, 2018

India might come under scanner at WTO after steep hike in MSP

US has raised serious concerns in its submission at the WTO about India's calculation where India has maintained that its food subsidy for paddy is below 6% as compared to the permissible 10% till 2015-16.

Jul 6, 2018

Life Insurance Corporation to invest Rs 26,000 crore in Indian Railways' finance arm

The state-owned insurance group and investment company headquartered in Mumbai is planning to infuse Rs 26,000 crore through bond subscription.

Jul 5, 2018

Cabinet approves proposal to hike MSP of kharif crops

Economic experts fear that the increase in MSP could be a possible hindrance to the government's target of maintaining 3.5 percent fiscal deficit.

Jul 5, 2018

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