"During 2018-19, the ministry is proposing to initiate steps to revise the base years of gross domestic product (GDP), Index of Industrial Production (IIP) and Consumer Price Index (CPI) to accommodate and factor the changes that take place in the economic scenario of the country," the statistics and programme implementation minister said at a conference on budget provisions.
In an interview to CNBC-TV18, Rupa Rege Nitsure, Chief Economist at L&T Financial Services spoke about the January wholesale price index (WPI) inflation.
The bank's top management spoke about how they uncovered the fraud and the steps it has taken to "punish the culprits", reiterating their resolve for clean banking.
India, the world's leading vegetable oil buyer, had imported 6,12,762 tonne palm oil in January 2017. The country's total vegetable oil imports increased by over 25 per cent to 12.91 lakh tonnes in January this year from 10.28 lakh tonnes in the year-ago.
Onions continued to remain expensive with wholesale prices growing nearly 194 percent in January as compared with a contraction (-) 36.08 percent during the same period a year ago
The USD 1.8 billion fraudulent transactions detected at Punjab National Bank (PNB). In an interview with CNBC-TV18, Ajay Srivastava, CEO of Dimensions Corporate Finance Services shared his views and readings on the same.
Foreign branches of at least two Indian banks including Axis Bank and Allahabad Bank are likely to have been caught in the fraud with an alleged credit offering given based on letters of undertaking (LOUs) issued by PNB.
Union mines secretary Arun Kumar also said closure of some iron ore mines in Odisha and Goa may not have much impact on the ore exports as the situation is moving towards normalisation.
India’s second largest state-run lender Punjab National Bank has disclosed a fraud of USD 1.8 billion at one of its Mumbai branches. In an exchange filing made by the bank says that these fraudulent transactions were made for the benefit of a few select account holders with their apparent connivance. In an interview with CNBC-TV18, Former Deputy Governor of Reserve Bank of India (RBI), HR Khan shared his readings and views on the same.
The cabinet decision comes ahead of the forthcoming 'Magnetic Maharashtra' investor summit.
Around 136 units are already present in the IFSC and employ 8,000 people at present.
The Gujarat election results and more recently the Rajasthan by poll verdict has put the spotlight on the agrarian distress across India.
MIP is a public-private initiative designed for building closer ties between Manchester and India encompassing the full scope of country-to-city ties, including trade, investment, science and innovation, connectivity and culture.
RBI’s recent circular on non-performing assets would mean provisions by banks towards bad loans staying elevated for at least three more quarters.
Saxena said that under the SFURTI (Scheme of Fund for Regeneration of Traditional Industries) scheme, the budget has proposed an increase in allocation to Rs 125 crore, as against Rs 75 crore last year.
Saudi officials have said the government plans to sell up to 5 percent of Aramco shares on one or more foreign exchanges in addition to Riyadh.
A Rs 11kcr fraud detection at PNB's Mumbai branch is likely to pinch the bank’s financials, capital ratios and ratings in this quarter.
India is the eighth largest source market for South Africa, following the US, Britain, Germany, the Netherlands and France being the top five.
The central bank has also asked all lenders to put in place board-approved policies, with timeliness, for resolution of stressed assets under the new framework.
The lenders will have to report to CRILC, all borrower entities in default on a weekly basis, at the close of business on every Friday, or the preceding working day if Friday happens to be a holiday.
However, patients not admitted will have to pay tax on the total value of food served by the hospital.
Around 38 percent of the students of IIM Bangalore had received pre-placement offers while IIM Calcutta took two days to complete the placement process.
Telangana Principal Secretary for IT and Industries Jayesh Ranjan has confirmed that Modi will be delivering the inaugural address through a video link, being organised by the software industry lobby Nasscom along with state government.
'The national conference 2022', to be held at the Pusa complex in the national capital, is being organised by the Union Agriculture Ministry. The Prime Minister is scheduled to take part in this conference on February 20, Agriculture Secretary S K Pattanayak told PTI.
Under the Goods and Services and Tax, which was rolled out from July 1 last year, transporters of goods worth more than Rs 50,000 are required to carry electronic or e-way bill.