Economy

After FCNR(B) highs, forex kitty shrinks by $51 billion in four weeks

Reserves have lost about $51.1 billion from their September 4 peak as the RBI supports the rupee amid higher crude oil prices; foreign currency assets fell $10.7 billion

RBI tightens liquidity after rate rise, raises daily CRR maintenance to 99%

The RBI raised minimum daily CRR maintenance to 99 per cent from October 16 and announced a ₹25,000 crore bond sale on October 13 to align overnight rates with the repo rate.

India's mica industry seeks critical mineral tag to counter China's grip

With 60% of mica exports going to China, industry seeks critical mineral status, a 30% export duty and incentives to boost domestic value addition

No automatic GST refund if earlier claim under appeal, says FinMin

GST refunds under the fast-track route will require officer scrutiny if an earlier refund order is under dispute, potentially delaying working capital relief for businesses

RBI study fills four-month gap in state inflation data using survey inputs

Researchers used household perceptions, expectations and past data to estimate missing state-wise urban inflation, with refined figures closely tracking the all-India series

RBI should widen LAF corridor to stabilise financial markets: SBI report

The SBI report favours an asymmetric widening of the LAF corridor, faster rate action and a shorter deadline for export proceeds as global uncertainty pressures markets

Indian banks lose market value in Q2, but select lenders gain

HDFC Bank, ICICI Bank and SBI saw their market capitalisation decline in the July-September quarter, while Kotak Mahindra Bank overtook Axis Bank to become the fourth-largest lender by market value

Rural enterprises can build resilience with five Cs, says Rohit Kansal

An IIM study shows monthly incomes of 'lakhpati didi' households rose by 61 per cent in the past year, says Amit Shukla, joint secretary in the rural development ministry.

UP govt to deploy 1,725 electric buses in 18 cities under GCC model

Private operators will procure and run the buses under 12-year contracts, with government subsidies of ₹35 lakh to ₹40 lakh per bus and free land for depots provided

GST Council proposes 5% GST rate for EV-based transport and rental services

The proposed option covers eligible electric vehicle passenger transport and rental services, but comes with restrictions

Confident of hitting $1 trillion exports target in FY27: Piyush Goyal

Commerce Minister Piyush Goyal says India's export target is achievable despite subdued global trade growth, citing strong domestic businesses, MSMEs and new FTAs

State-owned banks raise repo-linked lending rates by 25 bps after RBI move

Several banks, including BoB, PNB and Indian Bank, raise repo-linked lending rates by 25 bps after the RBI's policy rate increase, making loans costlier for borrowers

Datanomics: Services cushion shrinks as trade deficit pushes CAD deeper

Within the BoP, the current account yielded a deficit (CAD) in the first quarter of financial year 2026-27 (Q1FY27), reversing the surplus seen in Q4FY26, as the merchandise trade deficit widened

A quick guide to GST Council's key decisions on tax and compliance

From easier input tax credit claims to automated registration and a ₹40-crore cap on penalty-only appeals, the proposed changes seek to reduce compliance friction.

GST Council unveils major reforms, eases penalties and speeds up refunds

Measures ease compliance through simpler registrations, quicker refunds, wider tax credit access and relief on penalties and enforcement

Home-cooked meals get 10% dearer in Sep on higher onion, oil, LPG prices

The cost of a home-cooked vegetarian thali rose 10 per cent year-on-year in September, driven by higher prices of onion, vegetable oil, rice and LPG, according to a report released on Thursday.

Inflation pressures broaden as 37% of CPI basket rises above 4%: RBI

RBI's October Monetary Policy Report flags widening price pressures across goods and services, with food and fuel inflation adding to concerns over second-round effects

Monsoon deficit threatens crop output, adds to food inflation risks

The southwest monsoon was both patchy and deficient. That has hurt key farm regions and raised concerns over food prices

PM Modi welcomes fresh GST reforms to ease compliance, speed up refunds

The prime minister said that the GST Council's recommendations on removal of arrest provisions, greater decriminalisation and simpler procedures will have a very positive impact

GST Council allows employers to claim ITC on group insurance coverage

The GST Council's decision to allow input tax credit on employee group health and life insurance is expected to reduce coverage costs for employers, particularly MSMEs