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Moneycontrol

Economy

  • Demonetisation: ED enquiry operation at 50 banks across country

    Demonetisation: ED enquiry operation at 50 banks across country  

    Officials said multiple teams of the Enforcement Directorate (ED) swooped early morning at over 50 branches of at least ten banks, both in the private and public sector, along with banking auditors to "scrutinise" transaction reco...

    07 Dec 2016, 2.00 pm  |  Source: PTI

  • Govt seeks LS nod for additional expenditure of Rs 59,978 cr

    Govt seeks LS nod for additional expenditure of Rs 59,978 cr  

    Presenting a statement showing the supplementary Demands for Grants in the House, Finance Minister Arun Jaitley said of the total of Rs 59,978.29 crore, the net cash outgo would aggregate to Rs 35,171.92 crore.

    07 Dec 2016, 1.56 pm  |  Source: PTI

  • RBI Monetary Policy LIVE: Repo rate unchanged at 6.25%

    RBI Monetary Policy LIVE: Repo rate unchanged at 6.25%  

    The Reserve Bank of India (RBI) is set to announce the decision of its fifth bi-monthly monetary policy review of financial year 2016-17. Catch live updates here.

    07 Dec 2016, 1.36 pm  |  Source: Moneycontrol.com

  • FM Jaitley dares Opposition to begin debate over demonetisation

    FM Jaitley dares Opposition to begin debate over demonetisation  

    "The Opposition disrupts proceedings for one reason or the other. I challenge them to begin the debate if they have courage," Jaitley said in the Rajya Sabha.

    07 Dec 2016, 1.03 pm  |  Source: NEWS18.com

  • India seeks nod to up net spending by net Rs 352 billion

    India seeks nod to up net spending by net Rs 352 billion  

    It was the third supplementary demand for grants laid before the Lok Sabha. In August, lawmakers had approved USD3.09 billion in additional spending for the current fiscal year.

    07 Dec 2016, 12.35 pm  |  Source: Reuters

  • PM slams opposition for not allowing debate on demonetisation

    PM slams opposition for not allowing debate on demonetisation  

    In his remarks made at the BJP Parliamentary Party meeting, he said Parliament in the past decades has debated a number of government decisions, which had caused tensions and social conflict, but it was now deadlocked by rival par...

    07 Dec 2016, 12.12 pm  |  Source: PTI

  • RBI may cut rate by 50 bps; liquidity, inflation call eyed: Pros

    RBI may cut rate by 50 bps; liquidity, inflation call eyed: Pros   

    The Reserve Bank of India will hold its bi-monthly policy meet today. Experts expect 25 basis point (bps) cut. But, probability of a 50 bps cut cannot be ruled out, says Vivek Rajpal, Rate strategist at Nomura India.

    07 Dec 2016, 11.29 am  |  Source: CNBC-TV18

  • Industry capacity may hit 150 MT in couple of years: Steel Secy

    Industry capacity may hit 150 MT in couple of years: Steel Secy   

    Government extended minimum import price (MIP) on 19 products for two months to protect domestic steel industry from below-cost imports. Steel Secretary Aruna Sharma believes that steel capacity will reach 150 MT in couple of yea...

    07 Dec 2016, 11.23 am  |  Source: CNBC-TV18

  • RXIL gets RBI nod for 1st trade receivables exchange platform

    RXIL gets RBI nod for 1st trade receivables exchange platform  

    Promoted by Sidbi, the apex financial institution for promotion and financing of MSMEs and the National Stock Exchange, RXIL has SBI, ICICI Bank, Yes Bank, SBI Caps, and ICICI Securities as other investors.

    07 Dec 2016, 8.54 am  |  Source: PTI

  • Wearables market up 3.1% to 23 mn units in Q3: IDC

    Wearables market up 3.1% to 23 mn units in Q3: IDC  

    Even though the smartwatch market took a tumble this quarter, basic wearables -- comprising fitness bands and accounting for 85 percent of the market -- experienced double-digit growth, it said.

    07 Dec 2016, 8.26 am  |  Source: PTI

  • RBI to launch new Rs 100 currency note soon

    RBI to launch new Rs 100 currency note soon  

    "The Reserve Bank will shortly issue Rs 100 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the numbering panels," RBI said in a release.

    07 Dec 2016, 8.24 am  |  Source: PTI

  • Govt extends implementation of steel quality order by 2 mths

    Govt extends implementation of steel quality order by 2 mths  

    The earlier deadline expired today and the present extension was necessitated as licensing process by BIS would take some more time, the Steel Ministry said in a statement.

    07 Dec 2016, 8.24 am  |  Source: PTI

  • Cashless transactions on rise post demonetisation

    Cashless transactions on rise post demonetisation  

    While a state government employee here has made payment in cheque to a priest who solemnised his daughter's marriage due to cash crunch, a juice vendor is accepting money through digital mode.

    07 Dec 2016, 8.24 am  |  Source: PTI

  • Govt mulls long-term gas contracts to run power plants: Goyal

    Govt mulls long-term gas contracts to run power plants: Goyal  

    Earlier last year, the government had launched gas subsidy scheme under the Power System Development Fund (PSDF) to run stranded gas-based power plants is the country.

    07 Dec 2016, 8.24 am  |  Source: PTI

  • Analysts expect a cut as India battles demonetisation

    Analysts expect a cut as India battles demonetisation  

    A majority of analysts and bankers are expecting RBI Governor Urjit Patel-led Monetary Policy Committee (MPC) to cut rates by 0.25 percent today, with some expecting a 0.50 percent reduction.

    07 Dec 2016, 8.12 am  |  Source: PTI

  • PM Modi`s cash clampdown gamble may force RBI to cut rates

    PM Modi's cash clampdown gamble may force RBI to cut rates  

    A majority of the nearly 60 analysts polled by Reuters predict the Reserve Bank of India (RBI) will cut the repo rate by 25 basis points (bps) to 6.00 percent, the lowest since November 2010, while six predicted a deeper 50 bps cu...

    07 Dec 2016, 8.07 am  |  Source: Reuters

  • Urjit Patel`s second review as RBI boss: How interest rates work

    Urjit Patel's second review as RBI boss: How interest rates work  

    RBI Governor Urjit Patel’s second monetary policy review comes amid the government’s demonetisation drive which has impacted scores of citizens and businesses. Will an interest rate cut ease some of the pain. Here’s a look a...

    07 Dec 2016, 7.49 am  |  Source: Moneycontrol.com

  • Demonetisation necessary to break backbone of black money: BJP

    Demonetisation necessary to break backbone of black money: BJP  

    "It is true that people in general have to face little inconvenience at few places but for the good of the country, the countrymen should be prepared to face some hardships," BJP National General Secretary Ram Madhav said while ad...

    07 Dec 2016, 7.46 am  |  Source: PTI

  • Domestic diamond market to be 3rd largest by 2020

    Domestic diamond market to be 3rd largest by 2020  

    Currently, the largest markets for this metal is China, the US, Europe and Japan, and India, and the first two are set to remain so, says a Bain & Company report.

    07 Dec 2016, 7.46 am  |  Source: PTI

  • RBI relaxes norms for online card transactions up to Rs 2,000

    RBI relaxes norms for online card transactions up to Rs 2,000  

    Relaxing the norms for AFA requirement for transactions up to Rs 2,000 for online CNP (card not present) transactions, the RBI said only authorised card networks will provide such payment authentication solutions with participatio...

    07 Dec 2016, 7.46 am  |  Source: PTI

  • Pune Metro gets PMO nod, to be tabled before Cabinet today

    Pune Metro gets PMO nod, to be tabled before Cabinet today  

    Shirole, Lok Sabha member from Pune, said the proposal will be tabled before the Union Cabinet for final approval today. "PMO has given its go ahead to the project and the proposal will be tabled before the cabinet on Wednesday fo...

    07 Dec 2016, 7.46 am  |  Source: PTI

  • Demonetisation can help curb child trafficking: Nobel laureate

    Demonetisation can help curb child trafficking: Nobel laureate   

    While cleaning the country's balance sheet, demonetisation can help curb child trafficking as well, says Nobel laureate Kailash Satyarthi.

    06 Dec 2016, 10.09 pm  |  Source: CNBC-TV18

  • Note ban impact: Icra puts ratings of 3 MFIs on negative watch

    Note ban impact: Icra puts ratings of 3 MFIs on negative watch  

    Icra has placed its 'BBB-' rating to the Rs 25-crore bond raising programme of Cashpor on watch with negative implications.

    06 Dec 2016, 8.42 pm  |  Source: PTI

  • Delegalising notes will have positive implications: Subbarao

    Delegalising notes will have positive implications: Subbarao  

    The Indian government's decision to delegalise high denomination currency notes may hurt growth in short-term, but in the medium- to long-term it will have positive macroeconomic implications, former RBI Governor D Subbarao has sa...

    06 Dec 2016, 7.08 pm  |  Source: PTI

  • No plan to impose tax on farmers: Ravi Shankar Prasad

    No plan to impose tax on farmers: Ravi Shankar Prasad  

    Union Minister Ravi Shankar Prasad has said that there was no plan to impose tax on farmers for their produce or on women for their jewellery.

    06 Dec 2016, 6.08 pm  |  Source: PTI

  • Just depositing black money doesn`t make it white: Adhia

    Just depositing black money doesn't make it white: Adhia  

    Revenue Secretary Hasmukh Adhia today said it is wrong to assume that black money that has come into the banking system following the demonetisation will become white and unless tax is paid on such amount it will continue to b...

    06 Dec 2016, 6.08 pm  |  Source: PTI

  • RBI Monetary Policy: Rate cut likely as India battles demonetisation

    RBI Monetary Policy: Rate cut likely as India battles demonetisation  

    The RBI, guided by the newly-formed six-member monetary policy committee (MPC), is widely expected to cut its key lending rate — the repo rate — by 25 basis points to 6 percent.

    06 Dec 2016, 5.59 pm  |  Source: Moneycontrol.com

  • Outcome Budget norms tightened; depts to meet objectives timely

    Outcome Budget norms tightened; depts to meet objectives timely  

    In order to improve the quality of public expenditure, the Finance Ministry has tightened norms under which each ministry and department will have to prepare an Outcome Budget in consultation with NITI Aayog to achieve certain obj...

    06 Dec 2016, 5.00 pm  |  Source: PTI

  • Qatar`s RasGas seeks inclusion of natural gas in GST

    Qatar's RasGas seeks inclusion of natural gas in GST  

    Qatar's RasGas, the largest LNG exporter to India, today sought inclusion of natural gas in the Goods and Services Tax (GST) regime to make taxes on the green fuel uniform and spare consumers from cascading multiple levies.

    06 Dec 2016, 4.36 pm  |  Source: PTI

  • Rs 99.21 cr paid by 8 pvt sector units for security deployment

    Rs 99.21 cr paid by 8 pvt sector units for security deployment  

    Minister of State for Home Kiren Rijiju said in Lok Sabha that of the total amount Rs 29.05 crore has been paid by Reliance Industries and Rs 14.16 crore has been paid by Infosys Tech Bangalore in last three years.

    06 Dec 2016, 4.36 pm  |  Source: PTI

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