Economy News

No change in repo rate, GDP projected at 6.5% for FY24

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Thursday unanimously decided not to revise the repo rate, the central bank's Governor Shaktikanta Das announced.

Apr 6, 2023

Odisha receives investment intents worth Rs 21,000cr

Odisha receives investment intent worth Rs 26K cr at business meet in Tokyo

The government of Odisha in association with the Indian Embassy in Japan, the Japan External Trade Organisation (JETRO), and the Federation of Indian Chamber of Commerce and Industry (FICCI), hosted the Tokyo meet, which was attended by over 200 delegates

Apr 6, 2023

World Bank slashes India's GDP growth estimate from 6.5% to 6.3% for 2023-24

World Bank downgrades India's GDP growth estimate from 6.5% to 6.3% for 2023-24 in its latest report, mainly due to consumption falling owing to higher borrowing costs

Apr 4, 2023

EPFO payroll data: EPFO adds 15.29 lakh net subscribers during the month of January, 2022

EPFO increases interest rate on employees' provident fund for 2022-23 to 8.15% from 8.1%

EPFO has recommended increase of rate on employees' provident fund for 2022-23 to 8.15% from 8.1% last year

Mar 28, 2023

RBI's Shaktikanta Das awarded "Governor of the Year"; commended for unwavering leadership

In honour by an international economic research journal, RBI's Shaktikanta Das was awarded "Governor of the Year" for 2023 by Central Banking.

Mar 16, 2023

Adani shares recover; group clears margin-linked share-backed loans of $2.15 billion, Adani ranks 21 now

Last week, there were even reports of the group mulling selling 4-5 per cent of its stake in Ambuja Cements worth $450 million

Mar 13, 2023

US adds 311,000 jobs in February, all eyes on likely Fed rate hike now

The American economy added 311,000 jobs in the month of February and an average of 351,000 jobs added per month over the past three months

Mar 11, 2023

Charting the rise and fall of Adani group shares before and after Hindenburg Report: No sign of relief or debt refinance yet

Five weeks after the scathing Hindenburg Report came out, almost all of the Adani Group's listed companies are plunging. Here is our take on the stock's up and down volatility before and after the Hindenburg Report

Feb 28, 2023

RBI stops printing Rs 2,000 notes two years after demonetisation

Demonetisation widened tax net, led to seizure of Rs 900 Cr: Finance Ministry

For 2017-18, net direct tax collections witnessed a growth rate of 18 per cent over 2016-17, which was the highest in the preceding seven fiscal years.

Feb 24, 2023

Who's Ajay Banga? Former Mastercard CEO to head World Bank next

Biden to nominate Ajay Banga to lead World Bank as per tradition, where the US gets to nominate the head of the World Bank and European members reserve the right to pick the head of the International Monetary Fund

Feb 24, 2023

Protesting Himachal truck owners thank Hindenburg report; Say godsend in resolving dispute with Adanis

About 7,000 truck owners and drivers in Himachal Pradesh were protesting against Adani's Dec. 15 decision to shut two cement plants over a dispute on freight rates,

Feb 23, 2023

CBDT meets officials to dispel doubts on faceless tax assessment.

CBDT notifies ITR forms for assessment year 2023-24

The Central Board of Direct Taxes (CBDT) has notified income-tax return forms (ITR forms) for the assessment year 2023-24, which will come into effect from April 1, 2023.

Feb 15, 2023

How Pakistan went down the Sri Lanka way in mismanagement of its finances [Analysis]

In the absence of immediate bailout from IMF, Pakistan economy is on the verge of collapse. As the talks remain inconclusive, Finance Minister Ishaq Dar said virtual talks will continue

Feb 11, 2023

RBI's 25 bps rate hike to increase home loan EMI

The 25 basis points (bps) hike in the repo rate by the Reserve Bank of India (RBI) will result in an additional equated monthly instalment (EMI) of Rs 16 per lakh, said a top official of Sundaram Home Finance.

Feb 9, 2023

RBI hikes policy rate by 25 bps, current repo rate at 6.5%

The RBI's Monetary Policy Committee (MPC) on Wednesday hiked the repo rate by 25 basis points to 6.50 per cent

Feb 8, 2023

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