Economy News

Bank of Baroda, Canara Bank to pilot two rounds of bank mergers

Banks have been asked to explore issues such as overlap of branches, technical integration and whether there would be anti-competition concerns that could emerge

Jun 15, 2017

Fed raises rates, unveils balance sheet cuts in sign of confidence

Federal Reserve raised interest rates for the second time in three months, signalling its confidence in a growing US economy and strengthening job market.

Jun 15, 2017

7th Pay Commission: Decision unlikely today on hike in allowances for Central govt employees

The hike in salary component for Central government employees is as recommended by the 7th Pay Commission but the increase in allowances is getting dragged.

Jun 14, 2017

RBI to direct banks to start bankruptcy proceedings against 12 defaulters

The RBI said the 12 accounts identified as defaulters constituted about 25 percent of the overall gross non-performing assets, and added that it will direct lenders to begin insolvency proceedings around these accounts.

Jun 14, 2017

Modi govt plans major revamp of GDP data presentation, mulls national fact sheet on economy

Last month, the base year for calculating factory output (IIP) and wholesale price inflation was changed to 2011-12 from 2004-05; a similar exercise is planned for GDP, apart from a national fact sheet.

Jun 13, 2017

Infosys, TCS, Tata Steel make a comeback to mutual funds in May; IOC, Sun Pharma, Yes Bank top exits

Top stocks that mutual funds bought in May included ICICI Bank, HDFC Bank, Infosys, TCS and Tata Steel; major exits were Sun Pharma, IOC and Bharat Electronics.

Jun 13, 2017

Riding the waive: A growth dream betrayed

Farmer pains will be only partly eased by loan waivers even as the next round of balance-sheet agony for banks and coops gets primed for release.

Jun 13, 2017

New series of Rs 500 notes to be out soon

There will be a minor change in the new series of Rs 500 notes, the RBI said in a statement.

Jun 13, 2017

Loan waiver payback: Farmers start wilfully defaulting on loans

While it is early to quantify the extent of loan delinquency by farmers, bankers say that in some states, the default rate has increased by up to 50 percent in recent months.

Jun 13, 2017

Loan waive-off: Maharashtra expects Rs 30,000 crore plus boildown

The government is considering applying a cap of upto Rs 75,000-Rs 80,000 on the waiver benefit to slash the debt burden to Rs 30,000 crore or below

Jun 13, 2017

5 trends that will influence the real estate market

Among other impactors, the long awaited introduction of REITs and the performance of the first REIT are expected to set the pace for the way forward.

Jun 12, 2017

Daily revision in petrol, diesel prices is neutral for consumers

Currently, five Indian cities are part of the project; from Friday (June 16), petrol and diesel prices will be revised on a daily basis across India.

Jun 12, 2017

RBI at advanced stage of preparing top loan defaulters' list: FM Arun Jaitley

At a meeting with heads of PSU banks, Jaitley also discussed challenges to credit growth and their resolution.

Jun 12, 2017

Eat less, read less, save more: Staff gives Air India a few cost-cutting tips

Saving the Maharaja will require a clean-and-jerk lift of a Rs 54,000-crore burden off his long suffering back. But this delightful possibility is as remote as Air India finding a new buyer.

Jun 12, 2017

Foreign investors flock to India with billions of dollars

Debt and equity investments by foreign portfolio investors (FPIs) stood at $7.6 billion for April-May this year, as against $1.96 billion last year.

Jun 12, 2017