Economy News - Page 30
Yes Bank crisis: Finance minister Nirmala Sitharaman says RBI to look into what went wrong; to fix individual responsibilities
Finance Minister Nirmala Sitharaman on Friday said the government has asked the Reserve Bank to look into what went wrong at Yes Bank and fix individual responsibilities
Rupee dives 46 paise to close at 73.79 against US dollar as investors panicked over coronavirus scare
The Indian rupee resumed its downward journey after a day's hiatus on Friday, plummeting by 46 paise to 73.79 (provisional) against the US dollar as coronavirus-panicked investors kept assessing deteriorating financial markets
RBI ready to intervene in whatever way required to respond to coronavirus challenges: Shaktikanta Das
Reserve Bank governor Shaktikanta Das on Friday assured that the central bank will take every measure needed to secure the economy against the challenges arising from the coronavirus epidemic
Maharashtra Budget 2020: Uddhav Thackeray-led govt announces farm sops, hikes VAT on petrol, diesel
In its maiden budget, the Maha vikas Aghadi (MVA) government in Maharashtra on Friday announced sops for farmers, proposed to increase VAT on petrol and diesel by Re 1 per litre and reduced electricity duty for industries
Gold jumps Rs 773 on safe-haven appeal to Rs 45,343 per 10 gram; silver prices rise by Rs 192
Gold on Friday jumped Rs 773 to Rs 45,343 per 10 gram in the national capital as mounting worries over the economic fallout from the fast-spreading coronavirus drove investors towards the safe-haven metal
Air India disinvestment process going on 'extremely well'; govt may extend initial bids deadline: Aviation minister Hardeep Singh Puri
Civil Aviation Minister Hardeep Singh Puri on Friday indicated that the deadline for submission of preliminary bids for Air India could be extended even as he emphasised that the disinvestment process is going on "extremely well"
Maharashtra's economy to grow at 5.7% in 2019-20, marginally down from last fiscal's projection of 6%: Economic Survey
Maharashtra's economy is expected to grow at 5.7 percent during 2019-20, marginally down from the last fiscal's projection of six percent, the Economic Survey presented in the state Legislature on Thursday said
Gold falls Rs 157 to Rs 44,250 per 10 gram om muted demand; silver prices decline by Rs 99
Gold on Thursday fell by Rs 157 to Rs 44,250 per 10 gram in the national capital amid muted demand for the precious metal
EPFO cuts interest rate on deposits to 8.5% for 2019-20, says labour minister Santosh Gangwar
Retirement fund body EPFO on Thursday lowered interest rate on provident fund deposits to 8.5 percent for the current financial year, said Labour Minister Santosh Gangwar on Thursday
Banks can save Rs 7,400 cr from lending against CRR, earn Rs 480 cr in additional profits: SBI research report
Banks can save up to Rs 7,400 crore in CRR benefits under the new dispensation of targeted lending using their cash reserve ratios, and the incremental credit flow through this can be Rs 1.85 lakh crore, helping them earn Rs 480 crore in additional profits in FY21, SBI Research said
Income tax officials threaten to cut workload in protest over working conditions
Indian tax officials on Wednesday threatened to cut their workloads in protest over working conditions, a move that could dent New Delhi’s tax collection just as the government scrambles to fill coffers before the fiscal year ends on 31 March
Finance Minister Nirmala Sitharaman says will go through Supreme Court order on cryptocurrency
Finance Minister Nirmala Sitharaman on Wednesday said she will go through the Supreme Court order allowing banks and financial institutions to provide services related to cryptocurrencies
China January-February exports, imports seen slumping as coronavirus hits output, supply chains: Poll
China’s exports and imports likely tumbled in the first two months of the year, a Reuters poll showed, as the health crisis triggered by the coronavirus epidemic disrupted businesses and production and wreaked havoc along global supply chains
Ten public sector banks' merger to come into effect from 1 April, says Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Wednesday said the exercise of consolidation of 10 public sector banks (PSBs) into four is on course and the merger will come into effect from 1 April, 2020
Govt detaches GAIL, OIL, other PSUs from AGR case after last month's Supreme Court order, says Union minister Sanjay Dhotre
The government has detached gas utility GAIL India, explorer Oil India and other PSUs from a Supreme Court order that had led to Rs 1.47 lakh crore being sought from telecom firms such as Bharti Airtel and Vodafone Idea in past dues, the Lok Sabha was informed on Wednesday
AGR dues: Govt receives Rs 15,896 cr payment from telcos; balance amount pegged at Rs 1,30,440 cr, says Union minister Sanjay Dhotre
The government has received Rs 15,896.5 crore payment from telecom companies towards AGR liabilities, placing the remaining dues at Rs 1,30,440.4 crore, the Lok Sabha was informed on Wednesday
Gold prices zoom Rs 1,155 to Rs 44,383 per 10 gram on rupee deprecation; silver jumps by Rs 1,198
Gold prices zoomed Rs 1,155 to Rs 44,383 per 10 gram on Wednesday in the national capital with continuous rupee deprecation and strong buying in global safe-haven assets, according to HDFC Securities
India probes alleged increase in subsidised import of soda ash from Turkey following complaints by domestic players
India has initiated a probe into an alleged increase in subsidised imports of soda ash, used in making detergents and soaps, from Turkey following complaints by domestic players
Delhi High Court seeks response of Centre, DGCA, IndiGo, GoAir on PIL seeking grounding of A320neo aircraft
The Delhi High Court on Wednesday sought responses of the Centre, aviation regulator DGCA, Indigo and GoAir on a plea seeking grounding of A320neo aircraft with faulty engines
Poultry sector faces Rs 1,750-cr losses due to coronavirus rumours; seeks relief package from govt
Poultry breeders on Monday demanded a relief package from the government claiming that the sector has incurred heavy losses of around Rs 1,750 crore in a month due to fake news that coronavirus was spreading due to chickens
Sensex ends 153 points lower amid fresh coronavirus cases in India, Nifty falls 69 points; SBI, Tata Steel among top losers
Tanking 939 points from the day's high level, equity benchmark index Sensex closed 153.27 points lower at 38,144.02 on Monday as detection of fresh coronavirus cases in India spooked domestic investors
Rupee slumps 50 paise to 72.74 against US dollar after fresh coronavirus cases emerge in India
The rupee pared all its initial gains and settled 50 paise down at 72.74 (provisional) against the US dollar on Monday after two fresh cases of coronavirus detected in India
Vivaad Se Vishwas scheme to help save time, money in fighting tax disputes, says Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Monday said the direct tax dispute resolution scheme announced in Budget will be of great help to people as they will be able to save time and money spent in fighting cases
Jet fuel price cut by steep 10%; non-subsidised cooking gas costs Rs 53 less as international oil declines
Jet fuel (ATF) prices were on Monday slashed by a steep 10 percent, the second straight reduction in rates in as many months, as international oil prices slumped on fears of the spread of coronavirus
Protests, riots hit businesses in varying degrees, India needs to solve problems in democratic manner: Coca-Cola CEO James Quincey
Protests and riots impact businesses in a society in varying degrees, and India needs to solve problems it is grappling with in a "democratic" manner, global beverages major Coca-Cola's Global Chairman and Chief Executive Officer James Quincey said on Monday
Gold prices jump Rs 391 to Rs 42,616 per 10 gram on positive global trend; silver zooms by Rs 713
Gold prices jumped by Rs 391 to Rs 42,616 per 10 gram in the national capital on Monday following positive global trend, according to HDFC Securities
Recovery through insolvency process better compared to other options: IBBI chief MS Sahoo
Asserting that recovery through insolvency law process has been better, IBBI chief MS Sahoo has said creditors have recovered Rs 1.6 lakh crore, which is 207 percent of the realisable value of assets of 190 companies rescued till December last year under it
Fitch Solutions cuts India's economic growth forecast to 4.9% for FY20 on slump in manufacturing, coronavirus impact
Fitch Solutions on Monday cut its forecast for India's economic growth to 4.9 percent in the current fiscal that ends 31 March, saying manufacturing could come under pressure from weak domestic demand and supply chain disruptions due to the coronavirus outbreak
Oil bounces from multi-year lows as hopes of production cut from OPEC, stimulus from central banks offset coronavirus impact
Oil prices pared losses after earlier hitting multi-year lows on Monday as hopes that a bigger than expected production cut from OPEC and stimulus from central banks could offset economic gloom from the coronavirus outbreak
Labour ministry keen to retain 8.65% interest rate on employees provident fund deposits for 2019-20
The labour ministry is keen to retain an interest rate of 8.65 percent paid on provident fund deposits to around six crore subscribers of retirement fund body EPFO for the current financial year, a source said