Page 329 - Economy
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")
RBI to infuse Rs 25K cr via VRR as liquidity turns deficit after two months
Market participants said the banking regulator may conduct more VRR auctions to infuse liquidity if the weighted average overnight money market rates do not align with the repo rate
 "RBI to infuse Rs 25K cr via VRR as liquidity turns deficit after two months")
Banks to play key role in making India developed nation: FM Sitharaman
She said that banks cannot have a digital system that gets hacked somewhere, compromising the entire system and the trust placed in it
 "Banks to play key role in making India developed nation: FM Sitharaman")
Banks to play major role in making India developed by 2047: FM Sitharaman
Finance Minister Nirmala Sitharaman noted that technology is changing the banking landscape as it provides a secure and easy-to-navigate digital banking experience to all customers
 "Banks to play major role in making India developed by 2047: FM Sitharaman")
India to become third-largest economy by 2030-31, says S&P Global
The country is forecast to grow at an annual rate of 6.7 per cent
 "India to become third-largest economy by 2030-31, says S&P Global")
CCI's M&A overhaul: Stricter scrutiny, faster approvals under new rules
Revised framework introduces deal value thresholds, streamlined timelines, and wider definition of control for enhanced regulatory oversight, writes Dhanendra Kumar
 "CCI's M&A overhaul: Stricter scrutiny, faster approvals under new rules")
Experts divided on impact of Fed rate cut for emerging markets like India
RBI has left repo rate unchanged at 6.50 per cent since February 2023 as it tackled to bring down inflation, next Monetary Policy Committee meeting is scheduled to be held on Oct 7-9
 "Experts divided on impact of Fed rate cut for emerging markets like India")
Readymade garment exports rise 12% in Aug despite global challenges
Apparel Export Promotion Council Chair Sudhir Sekhri said that exports are keeping growth momentum despite global headwinds, persisting Red Sea crisis and other challenges such as high logistic costs
 "Readymade garment exports rise 12% in Aug despite global challenges")
Impact of US Fed rate cut might be muted in India: CEA Nageswaran
The US Federal Open Market Committee on Wednesday voted to cut the federal funds rate target range by 50 basis points to 4.75-5.00 per cent from 5.25-5.50 per cent
 "Impact of US Fed rate cut might be muted in India: CEA Nageswaran")
US Fed rate cut unlikely to impact foreign inflows to India: DEA secretary
The US Federal Open Market Committee on Wednesday reduced the lending rate to 4.75-5.00 per cent from 5.25-5.50 per cent, a larger than expected cut
 "US Fed rate cut unlikely to impact foreign inflows to India: DEA secretary")
India on way to becoming third-largest economy by FY31: S&P Global report
Nearly 90 per cent of India's trade is seaborne, necessitating robust port infrastructure to manage increasing exports and bulk commodity imports, the report added
 "India on way to becoming third-largest economy by FY31: S&P Global report")
Govt relief on PDS wheat quota, to launch Rs 1K cr credit guarantee fund
Secretary Sanjeev Chopra says food prices to remain stable during festivals; mulls lifting curbs on non-basmati rice exports
 "Govt relief on PDS wheat quota, to launch Rs 1K cr credit guarantee fund")
Gujarat, TN, Karnataka biggest gainers from 1990s reforms: PM-EAC report
Though Tamil Nadu's share declined, from 8.7 per cent in 1960-61 to 7.1 per cent in 1990-91, it saw a turnaround, with its share in the national GDP touching 8.9 per cent in 2023-24
 "Gujarat, TN, Karnataka biggest gainers from 1990s reforms: PM-EAC report")
India's exports to China fall at faster clip than to other partners
India's exports to China witnessed 22.44 per cent contraction to $1 billion, while overall exports declined 9 per cent at $34.7 billion in August, commerce department data showed
 "India's exports to China fall at faster clip than to other partners")
India's economic growth stands out globally, says FM Nirmala Sitharaman
The scheme is an extension of the already existing NPS to children. In the last 10 years, NPS has gained 1.86 crore subscribers, with Assets Under Management (AUM) of Rs 13 trillion
 "India's economic growth stands out globally, says FM Nirmala Sitharaman")
Cabinet okays 'One Nation, One Poll' and host of proposals in farm to space
The Union Cabinet on Wednesday cleared proposals in areas ranging from agriculture to moon and venus with a total outlay of more than Rs 60,000 crore
 "Cabinet okays 'One Nation, One Poll' and host of proposals in farm to space")
Windfall tax cut on crude may not impact companies and govt: Analysts
Analysts say move in line with falling global oil prices and shrinking upstream profits
 "Windfall tax cut on crude may not impact companies and govt: Analysts")
India becomes 6th largest market in MSCI ACWI, tops emerging markets list
China's weight has fallen by half since peaking in early 2021, while India's has more than doubled during this period
 "India becomes 6th largest market in MSCI ACWI, tops emerging markets list")
Labour Ministry pushes for shielding gig workers under e-Shram portal
Platform aggregators get 3 months to complete registration process
 "Labour Ministry pushes for shielding gig workers under e-Shram portal")
Conflict to cooperation: US-India trade hits 'high watermark' under Biden
India-US trade ties have taken a positive turn under Biden administration
 "Conflict to cooperation: US-India trade hits 'high watermark' under Biden")