Page 2560 - Economy & Policy News

How a fancy diamond helped Nirav Modi in India's biggest bank fraud

The rapid-fire sales were described as part of a plan in which Modi and associates "fraudulently borrowed approximately $4 billion over a period of years

Value of banknotes in circulation increases by 37.7% to Rs 18 bn in FY18

The share of newly introduced Rs 200 in the total value in circulation was 2.1 per cent

RBI urges govt to expedite reforms for twin balance sheet problem

The central bank seemed keen to extend the circular to non-banking financial companies (NBFC) as well

Number of banking outlets in villages drops amid financial inclusion push

These numbers echo what the industry says: Feasibility of operations in rural areas is low

Ombudsman on cards after hike in digital transaction frauds: RBI

The rise in complaints was because of deficiencies in banking services

Household financial savings climb to 7-year high, says RBI report

However, much of this increase was in the form of cash

FSSAI tightening noose around adulterated food to gain consumers' trust

On the cards: Field forces comprising hundreds of personnel, 4 national food labs along with regional offices

Finance Ministry to push S&P for ratings upgrade on Thursday

This comes even as Moody's, which upgraded India's long-term sovereign rating in November last year

Diesel up by 15 paise, petrol up by 13 paise; govt hopes rally is temporary

Diesel prices this week hit their highest level, crossing the previous peak of Rs 69.31 a litre reached on May 29

Almost all of demonetised currency came back; 99.3% returned, says RBI

The total value of SBNs returned to banks is Rs 15.31 trillion, RBI said in its 2017-18 annual report

Panel on direct tax law to submit report in September: FinMin officials

The panel has been given more time by Finance Minister Arun Jaitley

Government hikes spending on postal payments bank to Rs 14.35 billion

The bank, which will be launched by Prime Minister Narendra Modi on September 1, is set to be a star-studded affair

522,783 counterfeit notes detected in FY18 of which 63.9% detected by banks

In the new series of Rs 500 and Rs 2000 notes, fakes detected during 2017-18 were 9,892 and 17,929 as against 199 and 638, respectively during the previous year

RBI's transfer of surplus to Centre rises by 63.08% to Rs 500 bn in FY18

The central bank transfers the surplus generated from its functions to the government at the end of each financial year

RBI's agenda: To add more gold in foreign currency reserves in 2018-19

The RBI had started adding gold to its foreign currency reserves in smaller amount

Rajasthan agricultural traders plan 5-day strike from Saturday

In Rajasthan, the trade agents are paid 2 per cent margin for commodities they handle

High-level panel to take a call on future of stressed power projects: Secy

The court, however, asked the Centre to talk to the central bank to get some relief for the petitioners using the provisions of the RBI Act within 15 days

Karnataka's small, medium miners plan to float pellets and steel company

While welcoming the miners' decision, the Federation of Indian Mineral Industries (FIMI) South said that this value addition will be good for the industry

Brace up for more fake note discovery despite new bills: Study

Banks received Rs 15.31 trillion, or 99.3 per cent, of the Rs 15.41 trillion worth Rs 500 and Rs 1,000 notes in circulation on November 8, 2016, when the note ban was announced, it said

Demonetisation achieved its objectives quite substantially: FinMin

According to the RBI's annual report released today, as much as 99.3 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system