Economy News

15 foreign banks are looking to open branches in India, says RBI

As per RBI Data, 46 foreign banks are already operating in India, including two banks operating in wholly-owned subsidiary (WOS) mode.

Nov 20, 2019

Rs 31,000-crore Amazon, Flipkart festive sales draw traders' rage to e-commerce

Total sales of Rs 31,000 crore of Amazon and Flipkart were 14% off the target; expansion of e-tailers into new geographies in a slowing economy gripped by credit crunch has worried traders across the country.

Nov 19, 2019

Saudi Aramco IPO set to value company up to $1.7 trillion

Aramco could just beat the record-breaking $25 billion raised by Chinese e-commerce giant Alibaba.

Nov 17, 2019

Registration of GST non-filers to be cancelled

The Mumbai office of the Principal Chief Commissioner of GST and Central Excise has issued directives to field officers for ensuring strict compliance.

Nov 17, 2019

NPAs are mounting due to weak governance in public sector banks, says RBI Governor

The RBI Governor noted that competency issues have arisen due to inadequacy to understand risk from a business perspective by the boards in some bank.

Nov 17, 2019

Indian tax officials find Modi's targets too taxing, some quit

The target has been maintained even though Modi recently approved a massive cut in corporate taxes, which are part of direct taxes.

Nov 17, 2019

'Make in India' hub Noida to churn over 30 crore mobile phones in 5 years

Approximately 80 mobile manufacturing factories are currently operating in this region, with an estimated total employment of 50,000 people.

Nov 17, 2019

Favourite whipping boys: Will millennials be next blamed for swelling bank NPAs?

After taking the taint for economy's growth woes from auto sector slowdown to retail sector trouble, millennials may now draw the flak for another round of non-performing assets surge in banks.

Nov 15, 2019

Indian Personal Computer sales grows 15.8% in Q3 of Fiscal 2020, Lenovo leads

Lenovo was followed by HP, Dell Technologies, Acer Group and Asus in the market.

Nov 15, 2019

India dependent on cash more than ever despite push to boost digital economy

Central bank data shows that since the controversial demonetization gambit, currency in circulation has grown, rising 17 percent to 21.1 trillion rupees as of the end of March 2019.

Nov 14, 2019

India's October retail inflation breaches RBI's medium-term target

Retail food prices, which make up nearly half of India's inflation basket, increased 7.89% in October from a year earlier, against 5.11% in September.

Nov 14, 2019

India's GDP growth likely to slip to 4% in Fiscal 2020: Report

As industrial production contracted stood at just 4.3 percent in September, it is the sector's worst performance since October 2011.

Nov 13, 2019

India-ASEAN bilateral trade to reach $300 billion by 2025: Report

The concentration of India's exports items to ASEAN economies is very high in the top 20 commodities.

Nov 12, 2019

EPF scam: UP economic offences wing to question Union Agriculture Secretary

According to UP Police's Economic Offences Wing, they need to record the statements of all members of the trust when the funds were invested into the Dewan Housing Finance Corporation Limited (DHFL).

Nov 11, 2019

Major NCR real estate projects to be excluded from govt stress-fund

The fund would not be used to support projects which are facing litigations in high courts and the Supreme Court.

Nov 11, 2019