Economy News

Lucky Grahak Yojana: Central Bank of India customer wins Rs 1 crore in lucky draw; PM Modi to felicitate winners on April 14

In the consumer category, three mega prizes of Rs 1 crore, Rs 50 lakh and Rs 25 lakh went to people using Rupay debit cards to make digital payment of less than Rs 1,000.

Apr 9, 2017

Pranab Mukherjee calls for unstinted support to PM Modi's mission of a less-cash India

President Pranab Mukherjee also said that the Aadhaar card initiative is a watershed event in the development story of India.

Apr 9, 2017

India's foreign exchange reserves rise $10 billion in FY2017

In an update, the Reserve Bank of India said that India's foreign exchange reserves stood at $369.95 billion as of March 31, 2017.

Apr 8, 2017

Sheikh Hasina in India: Read the full text of the speech PM Modi delivered after his meeting with Bangladesh PM

Prime Minister Narendra Modi and Bangladesh Prime Minister Sheikh Hasina signed several important agreements on Saturday.

Apr 8, 2017

Chilli farmers hit by bumper crop, low prices in Telangana, Andhra Pradesh

Prices of red chillies have plummeted by almost half to Rs 4,000 to 6,000 per quintal in Telangana and Andhra Pradesh due to a bumper crop.

Apr 8, 2017

BJP questions 'naming and shaming' tactics against defaulting farmers in Haryana

Farm loan waiver and default by farmers occupy centre stage for BJP in Uttar Pradesh, Haryana and runs contrary to RBI chief Urjit Patel's statement.

Apr 8, 2017

India jumps 12 positions, ranks 40th on Travel and Tourism Competitiveness Report

Improved measures like e-visa, visa on arrival and better road transport helped India raise the bar for itself in tourism and reach the 40th position from the earlier 52.

Apr 8, 2017

Income tax department extends deadline for obtaining PAN to June 30

Bank account holders have to compulsorily submit either PAN or Form 60 to their respective banks, under income tax rules.

Apr 7, 2017

GST crosses last hurdle; Bill gets passed in Rajya Sabha

Former PM Manmohan Singh urged the Congress to not seek changes to the bill in order to "maintain consensus and federal agreement".

Apr 6, 2017

India must wave goodbye to loan waivers: RBI Governor Urjit Patel

Two days after the BJP govt of UP waived farm loans to the tune of Rs 36,000 crore, Patel said farm loan waiver undermines honest credit culture, impacts credit discipline.

Apr 6, 2017

The volatile relationship between China and the United States

Throughout the years, the United States and China have had a differing relationship. With Barack Obama in the White House the relationship had grown friendly and open but with the election of Donald Trump, and his many controversies, the future is unclear. Newsweek takes a look at the relationship from Nixon to Trump. 

Apr 6, 2017

RBI leaves repo rate unchanged at 6.25%; FY2018 growth projected at 7.4%

Retail inflation for 2017-18 is projected at 4.5 per cent in the first half and 5 per cent in the second half and economic growth estimate (GVA) for 2017-18 is 7.4 per cent.

Apr 6, 2017

India's growth to bounce back to 7.4% in 2017-18: Asian Development Bank

The country's economy will grow at a higher clip despite drag caused by excessive corporate investment in the past and banking woes.

Apr 6, 2017

Financial institutions risk 24 percent revenue loss from fintech: PwC

In banking specifically, consumer services such as personal loans, were seen as most at risk, according to PwC's annual Global FinTech Report.

Apr 6, 2017

India's falling earnings from service exports pose risks: DBS Bank economist Radhika Rao

The net earnings are on a free fall and could stay that way, especially because of increasing protectionism followed by Donald Trump's USA.

Apr 5, 2017