Page 2104 - Economy & Policy News

Banking system is safe: RBI tells depositors again as PMC crisis deepens

The RBI statement came on a day when the Nifty Bank index tanked by 1.30 per cent in intra-day trade amid a barrage of negative news from the sector

Fadnavis assures PMC bank depositors to ease woes with Centre's help

Fadnavis pointed out that the Mumbai police's Economic Offences Wing (EOW) had lodged a complaint and was probing the issue

India asks OPEC not to cut oil production; seeks better commercial terms

OPEC nations led by Iraq and Saudi Arabia supply more than 80% of India's oil needs

Bandhan's anti-poverty scheme that caught Abhijit Banerjee's attention

Bandhan Bank's Targetting Hard Core Poor (THP) programme, aimed at alleviating poverty, is likely to get a boost with Abhijit Banerjee and Esther Duflo winning the Nobel Prize in Economics

Economic slowdown an opportunity for investors, says Piyush Goyal

Goyal said India is looking forward to more investments from the United States and there are no trade disputes between both the nations

Income-tax officials give thumbs down to govt's faceless assessment move

Dubbed an important initiative in tax reforms, the government launched the faceless assessment scheme in a bid to eliminate the interface between the assessee and the tax officer

Regulators working on tighter norms for promoter pledged share funds

RBI, Sebi, Irdai and PFRDA to work closely on new framework

IMF slashes India's FY20 GDP growth forecast to 6.1%, global to 3%

Says the country, along with other emerging market economies, will drive global growth rebound in 2020

Open LCs for renewable firms or lose access to generation, Centre tells AP

Sets two-day dealine for compliance; denying access to Central pool will mean power outages, as state must draw 20 mnn units to achieve 24-hour power supply

September exports repeat decline, contract by 6.5% to reach 3-month low

As imports also fall for 4th straight month, trade deficit reduces to 7-month low

Air India stake sale: Buyer to get only Rs 10,000 crore of airline debt

This is a third of Rs 33,992 crore debt that was to be passed on to the new owner during last year's failed disinvestment process

Centre drafts franchisee model for power supply, urges states to take it up

The plan proposes a "light-handed approach" towards franchisees to incentivise, discount and set tariff (within stipulated range) for electricity supply in an area

IMF slashes India's FY20 GDP growth forecast to 6.1% from 7%

As against India's real growth rate of 6.8 per cent in 2018, the IMF in its latest World Economic Outlook projected India's growth rate at 6.1 per cent in 2019

Food ministry shows bias in favour of plastic bags as jute industry falters

Supply of jute bags from jute ministry has remained patchy during the kharif marketing season, prompting the Food ministry to look for other alternatives

India's September trade deficit narrows to $10.86 bn, oil imports fall 18%

Merchandise exports fell 6.57% to $26.03 billion in September compared with a year earlier, while imports were down 13.85%

India's exports dip 6.57% in September at $26 bn; imports contract 13.58%

Trade deficit declined to $10.86 billion in September, according to official data released on Tuesday

UP allows retail investors to bid for govt bonds on non-competitive basis

They can specify the amount they want to buy, without quoting yield or price; allotment will be on weighted average price/yield of institutional buyers

Railways launch 9 new trains connecting small towns to major cities

Goyal said the nine "Sewa Service" trains were launched without any additional investment by the railways and it was an example of how to use existing resources to the maximum

Govt plans to train women across villages to combat water crisis

Inadequate water supply, sanitation and hygiene cost India around 0.8 per cent of its gross domestic product, according to the World Bank

India has huge potential for trade with US, no dispute: Piyush Goyal

Talking about these differences he also said that a little uncertainty in any relation is also good for having healthy bilateral relations