Page 1362 - Economy & Policy News

Stock limits on pulses: IPGA demands immediate withdrawal of order

The India Pulses and Grains Association (IPGA) on Saturday expressed shock over the government imposing stock limits on pulses till October, in a bid to prevent hoarding and check price rise.

Trade, industry welcome lockdown relaxations, thank TN CM Stalin

TN announced relaxations in Covid-inducted lockdown in all the districts from July 5.

Domestic gas price to be raised by 60% from Oct: ONGC's Subhash Kumar

This will offer relief to exploration companies that have found it hard to sustain profitability in the face of low domestic price

Fitch downgrades ONGC, OVL and ONGC Videsh Vankorneft ratings to BBB-

This makes it harder for ONGC's two arms to raise money for financing their projects. OVL is currently said to be in the process of raising $500 mn for repaying existing debt

'Big step towards transparency': Union IT minister praises Facebook, Google

'First compliance report on voluntary removal of offensive posts published by them (social media platforms) as per IT Rules is a big step towards transparency,' IT minister tweeted

RBI proposes framework for acceptable bids at auctions to underwriters

RBI tries another way to tame bond yields as they have been rising in India on worries over inflation

Government spending grew 2% YoY in FY21: Motilal Oswal Financial Services

Terming FY21 as an 'exceptional year' Motilal Oswal Financial Services (MOFSL) in a report say government spending grew 2 per cent last fiscal.

Wage hike, attrition rise to impact IT industry's margins: HDFC Securities

IT industry's margins are expected to be impacted by wage increases as well as high attrition rate, said HDFC Securities.

PM Modi calls inclusion of retail, wholesale trade as MSMEs 'landmark' step

Prime Minister Narendra Modi on Saturday termed the inclusion a 'landmark' step and said that the move would help boost traders business and would also give them various benefits

Govt to soon issue 'clarification' on FDI in e-commerce: Piyush Goyal

Minister rules out amendments; development follows complaints that some e-commerce behemoths have been flouting the policy rolled out by govt

India shifts international tax deal stand with an eye on revenue

India and other developing countries were fighting to include companies with at least Euro 1 billion in revenues as against the final proposal of Euro 20 billion revenues and a profit margin above 10%

Centre includes retail and wholesale under MSMEs, to benefit 25 mn traders

MSME Minister Nitin Gadkari said the decision would make such traders eligible for finance under priority sectors classified by the Reserve Bank of India (RBI)

NPPA allows 50% price hike for ibuprofen, ranitidine, carbamazepine

These are scheduled drugs (or ones that are under price control) and low priced

Govt's edible oil duty cut to have little impact on prices, say traders

This is because corresponding prices in the international markets have moved up, nullifying the impact of duty cut.

Govt unveils plans for freight smart cities to reduce logistics cost

Under the freight smart cities initiative, city-level logistics committees would be formed and they will have related government departments and agencies at the local and state levels.

Reserve Bank of India imposes Rs 25 lakh penalty on Punjab & Sind Bank

The state-owned bank had reported a few cyber incidents to the RBI on May 16 and 20, 2020

RBI tweaks norms for interest on unclaimed amount after deposit matures

The new norms are applicable for deposits in all commercial banks, small finance banks, local area banks, and cooperative banks.

NUE may make India the cradle of cutting-edge global payment systems

The NUE will be a direct competitor to NPCI and develop the payments infrastructure for the country, similar to what NPCI has done

Reserve Bank of India changes methodology to ensure bond auction success

Adopts uniform price auction for bonds up to 14 years till further notice

Toll collection in June rises to Rs 2,576 crore as states ease curbs: NHAI

The National Highway Authority of India in a statement said toll collection across the country through FASTag touched Rs 103.54 crore, with 6.3 million transactions on July 1.