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-
Sitharaman asks CPSEs to meet capex targets without fail to revive economy from adverse impact of Covid
While revenue constraints led to a slowing of capital expenditure by state governments in FY20, the CPSEs owned by it largely held the fort, preventing public expenditure from losing its share in the gross domestic product (GDP). -
Delayed subsidy, poor billing inflated discom losses in FY19
According to the latest report, state governments released 89.4% of the subsidy booked by their respective discoms, significantly lower than the 95.6% disbursed in FY18. -
'Low interest rate regime critical for survival of banks'
Eminent banker and former president of New Development Bank K V Kamath on Tuesday pitched for a low interest regime, saying it is critical for survival of banks at this juncture. In view of the current economic slowdown induced by the coronavirus outbreak and subsequent lockdowns, Kamath's advice for lenders is considerable as banks are staring at a surge in non-performing assets (NPAs). -
Coronavirus wrap July 7: Brazil Prez Jair Bolsonaro tests positive; Strict lockdown in Bengal#39;s containment zones
At present, India is the third worst-affected country, only after the United States and Brazil. -
GST committee considering demand for extending FY20 returns filing date for composition dealers
The time limit to file GSTR-4 annual returns for the FY 2019-20 by the composition dealers had been extended till July 15, 2020 on April 3, 2020. -
FM Nirmala Sitharaman asks heads of 23 CPSEs to speed up capital expenditure to boost growth
CPSEs have a very important role in giving a push to the growth of the Indian economy, the finance minister said. -
Deutsche Bank fined $150 million for ties with sex offender Jeffrey Epstein
The New York State Department of Financial Services said on Tuesday that the agreement marks the first regulatory enforcement action against a financial institution for dealings with Epstein, the registered sex offender who committed suicide last August. -
Better performance of CPSEs can help economy recover from COVID-19 impact: FM Nirmala Sitharaman
The Finance Minister said that better performance of CPSEs can help the economy in a big way to recover from the impact of COVID-19. -
India won't compromise on data sovereignty: Prasad
Union IT and telecom minister Ravi Shankar Prasad on Tuesday said India is an "important digital power" and will not compromise on its data sovereignty. The comments from the minister come days after the country blocked 59 Chinese apps on concerns around "sovereignty and security". A day after that, Prasad had termed the move as a "digital strike" and added that the apps were banned to protect data of citizens. -
India to decide if it wants to win or lose from coronavirus, must select growth areas: Amitabh Kant
Amitabh Kant said this crisis is going to have huge losers and winners, therefore, India can decide whether it wants to lose or win. -
Enforcement Directorate registers money laundering case against GVK, MIAL
Enforcement Directorate registers money laundering case against GVK, MIAL -
China’s forex reserves expand in June to over USD 3 trillion
Wang said the uptick in the scale of forex reserves is affected by multiple factors, including exchange rates and changes in asset prices. -
Due to Covid-19, international students in US may be deported if universities switch to online classes
Due to Covid-19, international students in US may be deported if universities switch to online classes -
Big Story | Unravelling the Finance Ministry report on COVID-19
The June Monthly Economic Report by the Finance Ministry mentions that India has flattened the COVID-19 curve to a great extent. -
Demand for work under MGNREGA has ‘sharply’ increased: Sources
Officials in the Rural Development Ministry said the ambit of work has been expanded to provide as many opportunities as possible to engage migrant workers who have returned to their native states. -
ICICI Bank to reward 80k employees with up to 8% pay hike for work done during COVID-19
ICICI Bank had reported a 26 per cent surge in its March quarter net at Rs 1,221 crore on a standalone basis. -
Saurav and Animesh are breaking barriers in Digital PR, from being jobless in 2017 to building a 6 crore valuation company
Savin Communication’s eureka moment came in 2019 itself, when their existing clients starting ramping up the digital coverage for themselves, allowing the company to consolidate itself. -
Govt eases export, import process; lays out ‘Turant Customs’ plan for faster clearance
The government has introduced a contactless process in customs, which would enhance the in-house testing capability of the customs. -
India’s economy may shrink over 10% in Q1, coronavirus woes likely to continue till end of this fiscal
The nature of this sudden stop owing to the pandemic will see real growth shift right to a lower trend, with part of the lost output unlikely to be made up for during the year, said Radhika Rao, economist at DBS Group Research. -
'Aatmanirbhar package to have multiplier effect'
The finance ministry is swiftly implementing various schemes announced under the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyan package which is going to have a multiplier effect on the Indian economy, minister of state for finance Anurag Singh Thakur said on Tuesday. -
PM Modi to make major worldwide address to India Global Week in UK
Gaitri Kumar will also be addressing the event later this week, among her inaugural engagements as the new Indian High Commissioner to the UK. -
ED files money laundering case against GVK, MIAL
The Enforcement Directorate (ED) registered a money laundering case on Tuesday against GVK Group promoters along with others in connection with fraudulent transaction between Mumbai International Airport Ltd (MIAL) and other companies for development of Mumbai airport. -
Indian Railways announces major schedule change for these special trains from July 11 – Check details
Railways has announced frequency reduction of these special trains. -
Indian economy on brink of extinction; faulty climate policies to wipe out nearly entire GDP
India is singled out by Oxford Economics as following a particularly ruinous trajectory, with GDP falling 90% by 2100 if countries don’t improve current policies. -
Agricultural bad loans rise in FY20 after hike in lending targets: Report
Between FY17 and FY20, the agriculture lending target was raised by around 14 percent a year to Rs 13.5 lakh crore. -
Loans to become cheaper for HDFC Bank customers, MCLR cut by 20 bps across all tenors
The rate cut is effective from Tuesday (July 7), according to HDFC Bank website. -
Sensex jumps 187 points; Nifty closes at 10,799
The BSE Sensex ended 187.24 points or 0.51 percent higher at 36,674.52 whle the NSE Nifty edged up by 36 points or 0.33 percent to close at 10,799.65. -
Foreign students to go if classes are online: US
United States' immigration authority has announced that foreign students pursuing degrees in America will have to leave the country or risk deportation if their universities switch to online-only classes in this fall semester. The agency suggested that students currently enrolled in the US consider other measures, like transferring to schools with in-person instruction. -
Kerala’s unhealthy addiction to remittances puts it in tight spot; foreign money becomes scarce
For economies that depend on this foreign income, the outlook for 2020 is bleak. The World Bank expects a 20% plunge in remittances to low- and middle-income countries. -
EU forecasts deeper economic hit from coronavirus pandemic
The 27-nation EU economy is predicted to contract by 8.3% this year, before growing 5.8% in 2021, according to the latest predictions released Tuesday. -
Exclusive | In this new normal, we need to put concepts like deficit on hold: KV Kamath
Kamath was the Founding-President of New Development Bank and was CEO of ICICI Bank for 13 years until 2009 -
'US may ban Chinese apps, including TikTok'
US Secretary of state Mike Pompeo said that the US is "certainly looking at" banning Chinese social media apps, including TikTok. Meanwhile, the short-video sharing platform said it will exit the Hong Kong market within days as other technology companies including Facebook Inc have suspended processing government requests for user data in the region. -
Int'l students in US may be deported if universities switch to online classes
In a decision that will adversely impact hundreds of thousands of Indian students in the US, the federal immigration authority has announced that foreign students pursuing degrees in America will have to leave the country or risk deportation if their universities switch to online-only classes in this fall semester. -
International students in US may be deported if universities switch to online classes due to Covid-19
In a decision that will adversely impact hundreds of thousands of Indian students in the US, the federal immigration authority has announced that foreign students pursuing degrees in America will have to leave the country or risk deportation if their universities switch to online-only classes in this fall semester. -
Exclusive: We must become Atmanirbhar in a cost-effective and efficient manner, says KV Kamath
Speaking on the coronavirus pandemic and its impact, Kamath said that steps taken by the government have worked well for the Indian economy. -
Ola customers across India can now use PhonePe to pay for their rides
As part of our introductory offer, customers can avail up to Rs 200 in cashback on the first two rides when paid using PhonePe. -
Green shoots? 30% companies now operating at 70% capacity utilisation: Survey
On income tax refunds, nearly 36 percent of the respondents said that they have started receiving income tax refunds from the government. -
Aadhaar card update! Order Aadhaar Reprint delivered to your address within 15 days via Speed Post
Know how to raise the request for “Order Aadhaar Reprint”. -
Shriram Transport Finance okays rights issue to promoters for Rs 1,500 crore
The issue has been fixed at Rs 570 per share, including premium of Rs 560 per rights equity share. -
Rules of Origin in International Trade:”Spaghetti bowl” to “Kill rules”!
Rules of origin in international trade is like a passport required for travel overseas. These are used to determine the “nationality” of goods traded in the global market place. Yet, ironically no internationally agreed-upon rules of origin exist. -
Assam invites textile firms to invest in state, assures customised support to ventures
With the advancement of the Act East policy, Assam is now the centre of Southeast Asia with access to eight crore people, Industry and Commerce Minister Chandra Mohan Patowary said. -
Diesel price scales new high after 25 paise increase; no change in petrol rates
This took the retail selling price of diesel to Rs 80.78 per litre in the national capital - the highest ever. -
Sensex rises 70 points, Nifty pares gains in early trade
The BSE Sensex rose 70.29 points or 0.19 percent to 36,557.57 in early trade while the NSE Nifty fell 6.15 points to 10,757.50. Nifty had topped 10,800 at opening. -
Mike Pompeo says US looking at banning Chinese social media apps, including TikTok
Secretary of state Mike Pompeo said late on Monday that the United States is "certainly looking at" banning Chinese social media apps, including TikTok. -
US panel to grill Bezos, Cook, Zuckerberg, Pichai on July 27
The hearing would mark the first time all four top executives testify together in front of Congress, virtually or in-person depending on the panel's call in the Covid-19 pandemic times. -
Share of labour-rich exports starts to fall, threatens jobs; major drop in these key sectors
The International Monetary Fund (IMF) has predicted a 4.9% contraction for 2020 global GDP, warning that the Covid-19 outbreak has plunged the global economy into its worst recession since the Great Depression in 1930s. -
From economic forecasting to economic nowcasting
Making long-term economic forecasts will not cease, but could nowcasting real time macroeconomic aggregates be the new norm? -
Buy now, pay later options push consumption; households still under financial stress
Consumption spends picked up in some segments during the month of June as lockdown restrictions were eased in many parts of the country, payment industry players said. -
SBI readies Rs 1k-cr B2B e-market only for MSMEs
State Bank of India (SBI) is set to invest $100-150 million (Rs 750-1,000 crore) and leverage its YONO platform to set up a business-to-business (B2B) e-commerce marketplace for micro, small and medium enterprises (MSMEs). The country’s largest lender hopes this will also help it better manage financing of small businesses. -
China central bank buying stakes in Indian cos
In mid-April, stock exchange disclosures revealed that the People’s Bank of China (PBoC) had a holding of over 1% in Indian mortgage finance major HDFC. But the Chinese central bank also holds stakes in several other listed companies.
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