Indian banks' asset quality best in a decade, expected to improve further: RBI
In the bi-annual Financial Stability Report (FSR) released on Wednesday, the central bank said the GNPAs are expected to improve further to 3.6 per cent in the baseline scenario.
PM Modi's visit to US historic; redefined India-US ties: FM Sitharaman
Apart from listing various agreements signed between India and the US in several fields of work, including defence and technology, the finance minister also said that the rapid investment in semiconductor and other technologies is benefitting the people of India.
Exclusive: Govt to set up inter-ministerial committee for Urea Gold pricing, subsidy: Source
The sulphur coated urea is likely to be approved by the Union Cabinet soon, a government official said.
India-UK FTA: Tenth round of negotiations conclude
Talks on the India-UK Free Trade Agreement have merely crossed the halfway point, and India has missed its internal deadline of closing the negotiations by March 2023
Joe Biden signs $31.4-trillion debt limit bill, averts US default
Fitch Ratings said on Friday the United States' 'AAA' credit rating would remain on negative watch, despite the agreement that will allow the government to meet its obligations
Biden cheers $31.4-trillion debt ceiling deal, declares from Oval Office: 'Crisis averted'
US presidents have generally reserved an address from the Oval Office for the most significant, and dramatic of events: the attacks of September 11, 2001, for example, or the Challenger space shuttle explosion
India Focussed On Improving Business Viability: Morgan Stanley MD Ridham Desai's Praises PM Modi
Morgan Stanley’s latest report shows India driving a fifth of global growth by the next decade, which is a big fillip to the Narendra Modi government. However, it predicted a fragmented outcome in the 2024 Lok Sabha elections.
News18's Marya Shakil spoke to Morgan Stanley India Managing Director Ridham Desai, who called Prime Minister Modi an ‘inflation hawk’, which essentially means he does not want inflation — this is critical for the prosperity of the economy.
Desai also praised India for focusing on macro stability when countries like the US were dealing with inflation during the pandemic.
Watch to know what he said!
At 6.1%, India’s Q4 GDP faster than the biggest, but there are a few worry lines
Both consumption spending and government spending will have to quickly accelerate onto a faster lane and continue to expand consistently over the medium term to maintain India’s growth momentum
RBI found gaps in corporate governance at banks despite guidelines: RBI Governor
Addressing directors of bank boards, Das said such gaps, which have been mitigated, could have caused ”some degree of volatility”.
Introduction and withdrawal of Rs 2,000 note cast doubt on integrity, stability of India's currency: P Chidambaram
Addressing a press conference here, the former Union finance minister said the key economic indicators are pointing downward and there is low confidence that the economy will reach the high growth path.
Biden, McCarthy forge debt-limit deal in a bid to avert US default
Economists have said even a short default could see dramatic market declines and the loss of hundreds of thousands of jobs
White House reaches a deal with Republicans to avert US default
The deal would avert an economically destabilising default, so long as they succeed in passing it through the narrowly divided Congress before the Treasury Department runs short of money to cover all its obligations
Exchanges of Rs 2,000 notes made easy: No identity proof required upto a certain limit
RBI on Friday in a surprise move announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks.
Harnessing 10% of coal bed methane reserves can cut India's energy import bill by $2 billion: Experts
The experts believe that the industry's collective efforts in utilising Coal Bed Methane (CBM) can help the country save over USD 2 billion on imports bill in near future.
China's slacking imports, slowing exports peril global economic recovery
The recovery so far has mainly been driven by consumer spending, rather than infrastructure and property investment and that has reduced demand for commodities such as crude oil, iron ore and copper
Fed raises rates, opens door to pause in tightening cycle
The Federal Reserve’s latest move, which raised its benchmark rate to roughly 5.1%, could further increase borrowing costs.
Vivad se Vishwas scheme: June 30 deadline for MSMEs to submit claims
In cases of failure by MSMEs to execute contracts during the COVID period, 95 per cent of the forfeited amount relating to bid or performance security will be returned to them by the government.
Indian banks wary of parking funds with RBI following liquidity swings - traders
Liquidity in the banking system, which was in deficit till March-end, swung to a surplus of around 2.7 trillion rupees ($32.87 billion) at the beginning of this month, but a rise in cash in circulation as well as credit pickup led to a rapid decline in liquidity to a surplus of 1.35 trillion rupees.
Russian arms sales to India hit currency crossroads amid US sanctions
India is unable to settle the bill in US dollars due to concerns about secondary sanctions, while Russia remains unwilling to accept rupees due to exchange-rate volatility
India races to get richer before it gets older as Indians outnumber Chinese
India needs to advance on four broad fronts — urbanisation, infrastructure, up-skilling and broadening its labour force, and boosting manufacturing — to fully cash in on its demographic dividend and reshape the global economy in the process
CAI reduces cotton crop estimate by 10 lakh bales to 303 lakh bales for 2022-23 season
The total cotton production in the last season was estimated at 307.05 lakh bales, CAI said in a statement
Crypto will die a natural death as investors turn to other assets: PM’s advisory council member
Crypto grew because we had near zero interest rates in developed countries for an extended period so people were searching for higher returns.
India's forex reserves rise $6.30 billion to $584.75 billion
The reserves have been declining as the central bank deployed the kitty to defend the rupee amid pressures caused by global developments.
Blamed for Putinflation abroad, Russia now sees prices cool off
Russian inflation reached 3.5 percent in March from almost 11 percent in the previous month
