Page 1173 - Economy & Policy News

HSBC sees coronavirus surge slowing India's economic growth this year

Economic cost will be there, but hopefully it will just be about a third or lower than the economic cost of previous waves, HSBC economist Pranjul Bhandari said

Odisha govt invests in power infrastructure to provide 24x7 power supply

Odisha Chief Minister Naveen Patnaik said the state government is investing significantly in improving power infrastructure to provide 24x7 quality power to all.

PE inflows spurt 15% in 2021 to record $40 billion, says report

According to the data collated by Refinitiv, an LSEG business, while the value of inflows rose 15.2 per cent from USD 34.8 billion in 2020 to USD 40.1 billion in 2021

Irdai to set up two hubs on motor insurance and property insurance

The decision to set up these hubs was based on the recommendations of a working group on loss prevention and minimisation in the general insurance industry

RBI hikes threshold for deposits of non-financial small biz customers

This, the RBI said, has been done to better align guidelines with the Basel Committee on Banking Supervision standard

Power CPSEs capital expenditure rises 47% to Rs 40,000 crore in Apr-Dec

The Capex performance of the ministry is significantly better compared to the previous year

DPIIT restarts control room to monitor delivery of essential goods

The facility had been set up last April amid second wave; DPIIT had also ironed out difficulties being faced by various stakeholders due to regional lockdown and curfew imposed by various states, UTs

ECLGS stopped 14% of loans from slipping into NPA, says SBI report

The scheme has saved around 15 million jobs and stopped 14 per cent of outstanding MSME loans from turning into non-performing assets (NPAs)

Budget 2022-23: Worst-hit sectors may get credit guarantee breather

Budget may extend ECLGS, loan guarantee schemes for MSMEs, hospitality, tourism

Cabinet approves Rs 12,000 crore Green Corridors-II for RE uptake in states

Projects will be set up in seven states in this phase, which aims to add 10,750 circuit kilometres (ckm) of transmission lines and 27,500 Mega Volt-Amperes (MVA) transformation capacity of substations

Spike in Covid cases may impact banking system's restructured book: Icra

Demand for recast may also go up for loans previously restructured; RBI warns of drop in bank's asset quality but reassures that they are strong enough to withstand huge shocks

Advance Estimates for GDP today amid Omicron-induced uncertainties

The first and second Advance Estimates were the same for 2019-20, but turned out to be wrong when the actual numbers came

Why India's policy to produce ethanol-blended petrol is short-sighted

The ambitious policy to promote ethanol-blended petrol is politically popular but will be bad for India's food and water security

Restaurant association write to PM, seeks relook at Covid restrictions

It has also called for longer operating hours for the industry

DPIIT to come out with revised FDI policy to facilitate LIC disinvestment

The matter is being discussed with the Department of Financial Services and Department of Investment and Public Asset Management (DIPAM)

Cabinet approves Rs 12,000 cr for 2nd phase of Green Energy Corridor

The scheme will facilitate grid integration and power evacuation of about 20 GW of renewable energy (RE) projects in seven states

Thanks, NITI Aayog, but I would rather stay neo than become a bank

The NITI Aayog has suggested a template for digital banks and stipulated a two-stage process: first a digital business bank licence, and then a digital universal bank licence

Centre releases Rs 9,871-crore revenue deficit grant to 17 states

The Central government on Thursday released Rs 9,871 crore as revenue deficit grant to 17 states including Andhra Pradesh, Kerala, Rajasthan, Punjab and West Bengal.

Soon, recharge mobiles, pay bills at 'RailWire' kiosks in 200 stations

Passengers in 200 railway stations across India will soon be able to recharge their mobiles, pay electricity bills, even file taxes with help from Common Service Centre kiosks to be set up by RailTel.

'Demand in hotel industry to be curtailed in Q4 this fiscal due to Covid'

The demand in the hotel industry will be curtailed in the fourth quarter this fiscal, as the fresh Covid-19 wave with the Omicron variant dampening sentiments, rating agency Icra said on Thursday.