Page 479 - Economy & Policy News

Primary risks to economy's outlook stem from global headwinds: RBI report

The report noted that rise in interest rates has benefited banks by improving their net interest margins, with a faster transmission to yield on assets compared to the cost of funds

CBDT clarifies applicability of TDS liability for e-retailers on ONDC

The income tax department on Thursday clarified the applicability of TDS liability of e-retailers trading through the government's ONDC initiative

States, ministries to make 'checklist' to manage data for Gati Shakti NMP

DPIIT, which is responsible for overseeing Gati Shakti NMP, has also prepared a document - a crucial resource for clarity and data management practices - for relevant stakeholders

RBI to conduct 7-day VRR to inject up to Rs 1.25 trn into banking system

Banks submitted bids worth Rs 1.6 trillion, around 3.2 times against the notified amount of Rs. 50,000 crore, at the two-day VRR auction conducted by the RBI

Govt aims to attract investors from Germany, UK for electric vehicles

While the government is yet to firm up the timeline of the launch of policy, there have been consultations with several countries on the matter

FinMin sends notices to offshore crypto exchanges, asks Meity to block them

"They are operating illegally without complying with the PML Act provisions in India," the finance ministry stated

Govt to extend RoDTEP benefits to e-commerce exports: Piyush Goyal

The RoDTEP scheme, which came into effect three years ago, refunds the embedded non-creditable central, state, and local levies paid on inputs to exporters

Bank credit growth to moderate; capital buffers to remain comfortable

"Margins under pressure due to rising interest rates plus increase in the operating expenditure on revision in salaries. Despite this, banks' profitability will remain robust"

Manufacturing the key to unlock $1 trillion economy for Tamil nadu

As a precursor to much-anticipated Tamil Nadu Global Investors Meet 2024, scheduled for January 7 and 8, it has launched a campaign called "OneTrillionDreams" to boost its $1 trillion economy plans

Biggest 2-month rally in decades rescues beaten-up bond markets

The US 10-year Treasury yield, the benchmark for borrowing costs globally, has dropped 50 basis points (bps) in December after falling 53 bps in November. Its two-month fall is the biggest since 2008

Weak consumption demand key vulnerability for growth: Shashanka Bhide

Shashanka Bhide, one of the three external members of MPC, on Thursday flagged a weak consumption demand as a key vulnerability for growth in the second half of the current and next fiscal

Govt extends RoDTEP benefits to e-commerce exports through post or couriers

The commerce ministry will soon put in place the necessary IT framework and other enablers for extension of the scheme for the exporters

Cotton acreage may drop by 10% on falling yield, low price, says CAI

In the 2023 kharif season, as per government data, cotton crop was sown in around 12.38 million hectares, which was over 3 per cent less than the previous year

RBI tweaks D-SIB designation methodology, inserts digital payments aspect

The value of securities reported under 'Total Marketable Securities issued by bank' would be based on their market value

RBI stays vigilant, committed to early, decisive action: Governor Das

He stated that the recent implementation of macroprudential measures, aimed specifically at tempering lenders' enthusiasm in certain segments of retail loans

Risk of Oil price spike impacting India in Fy25 is low: CEA Nageswaran

An oil price surge of 10 per cent from the baseline of $85 per barrel could weaken domestic growth by 15 basis points and increase inflation by 30 basis points

Dollar dips across board as traders stay fixed on US rate cuts next year

The dollar index, which measures the U.S. currency against six rivals, fell to a fresh five-month low of 100.61. The index is on course for a 2.7% decline this year

Centre extends import duty exemption on tur, urad dal to March 2025

Prices of pulses have seen an inflation of 20 per cent in November. Recently, the Centre had also extended the import duty exemption for masur dal by one year to March 2025

Bad assets of banks decline multi-year low to 0.8% in Sept: RBI report

The gross non-performing assets (GNPA) ratio of banks also declined to a multi-year low of 3.2 per cent, an RBI report said

Rupee ends higher, far forward premiums climb to over 2-month high

The rupee closed at 83.1650 to the U.S. dollar, up from 83.3450 in the previous session. The currency posted its biggest rise in a single rise in nearly two weeks