Page 328 - Economy
NRI deposits witness $5.82 billion inflows in April-July 24, shows RBI data
The NRI deposit schemes include foreign currency non-resident (FCNR) deposits, non-resident external (NRE) deposits, and non-resident ordinary (NRO) deposits
 "NRI deposits witness $5.82 billion inflows in April-July 24, shows RBI data")
India proposes retaliatory duties on EU's safeguard steps on steel products
"Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the EU," the communication said
 "India proposes retaliatory duties on EU's safeguard steps on steel products")
Net FDI in India rises to $5.5 billion in Apr-Jul 24, shows RBI data
Major source countries were Singapore, Mauritius, the Netherlands, US, Belgium and Japan
 "Net FDI in India rises to $5.5 billion in Apr-Jul 24, shows RBI data")
'Almost $1.3 trillion EV opportunity for emerging mkts, India at forefront'
Case studies from Mahindra Last Mile Mobility Limited and Battery Smart also found that manufacturing and infrastructure for EVs are increasing across the region
 "'Almost $1.3 trillion EV opportunity for emerging mkts, India at forefront'")
Rupee posts biggest weekly gain in 2024; appreciates 9 paise to 83.56
RBI's dollar buy prevent further strengthening
 "Rupee posts biggest weekly gain in 2024; appreciates 9 paise to 83.56")
India prioritises review of Asean trade pact for simpler business terms
ASEAN comprises Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam
 "India prioritises review of Asean trade pact for simpler business terms")
RBI bought net $6.93 billion in spot forex market in July: Bulletin data
RBI's net outstanding forward sales stood at $9.1 billion as of end-July, compared with a net sales of $15.84 billion at the end of the previous month, the data showed
 "RBI bought net $6.93 billion in spot forex market in July: Bulletin data")
Forex reserves rise for 5th week, hit record high of $689.46 bn: RBI data
Foreign exchange reserves also include India's reserve tranche position in the International Monetary Fund
 "Forex reserves rise for 5th week, hit record high of $689.46 bn: RBI data")
Rajasthan govt to launch new mineral policy to attract investment
The total revenue from minerals in Rajasthan was estimated at over Rs 7,460 crore in FY24
 "Rajasthan govt to launch new mineral policy to attract investment")
Container shortage, freight spike shake maritime economy in India
India's merchandise exports also contracted by nearly 10 per cent in August. Both officials and traders highlighted the challenges in transportation
 "Container shortage, freight spike shake maritime economy in India")
Retail inflation for farm workers eases to 5.96%, rural labourers to 6.08%
All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) registered an increase of 7 points each in August 2024
 "Retail inflation for farm workers eases to 5.96%, rural labourers to 6.08%")
Piyush Goyal to review India-ASEAN trade pact talks' progress in Laos
He is there to participate in the 21st ASEAN-India Economic Ministers (AEM-India) meeting and the 12th East Asia Summit Economic Ministers Meeting (EAS EMM)
 "Piyush Goyal to review India-ASEAN trade pact talks' progress in Laos")
'India not abuser, Donald Trump's claims about import duties unfair': GTRI
Think tank GTRI has criticised Donald Trump's claim that India is an "abuser" of import tariffs, noting singling out high tariff items do not present the real trade picture
 "'India not abuser, Donald Trump's claims about import duties unfair': GTRI")
Bank of England keeps main rate on hold at 5% in wake of US Fed cut
Figures on Wednesday showed that inflation overall in the UK held steady at an annual rate of 2.2% in August, still above the bank's goal
 "Bank of England keeps main rate on hold at 5% in wake of US Fed cut")
India, S Korea share bill of lading electronically to promote trade: DGFT
South Korea is a key trading partner of India and both countries have implemented a comprehensive free trade agreement in 2010
 "India, S Korea share bill of lading electronically to promote trade: DGFT")
'One State, One RRB' policy gains momentum; may make debut in March 2025
Finance Minister Nirmala Sitharaman has urged RRBs to focus on improving digital services and supporting MSME growth
 "'One State, One RRB' policy gains momentum; may make debut in March 2025")
India to adopt nuanced approach to deal with at risk NPOs after FATF report
As regards the abuse of NPOs for terror financing, Agarwal said the scope for NPOs being misused is very less in India because there is a cap on cash donations
 "India to adopt nuanced approach to deal with at risk NPOs after FATF report")
Govt-owned refiners likely to ink Russian crude term deal by FY26
Oil priced above $60/barrel reaching India from Russia
 "Govt-owned refiners likely to ink Russian crude term deal by FY26")
India should establish clear obligations for domestic PEPs: FATF
Global body says non-profit sector requires protection from terror
 "India should establish clear obligations for domestic PEPs: FATF")
ED gets max tip offs for money laundering from media, social sites: FATF
A team of FATF experts drawn from agencies belonging to Russia, UAE, USA, Brazil, United Kingdom, South Africa and Japan conducted the 'on-site' review as they were in India between Nov 6-24, 2023
 "ED gets max tip offs for money laundering from media, social sites: FATF")