Finance minister Nirmala Sitharaman (File photo) NEW DELHI: Asserting that September quarter growth numbers do not indicate a systemic slowdown, finance minister Nirmala Sitharaman on Friday said that economic activity will pick up in third quarter and India will remain the fastest growing major economy over the next few years.“The fourth quarter, which was very…
RBI governor Shaktikanta Das MUMBAI: Reserve Bank of India (RBI) on Friday kept the policy rate unchanged for the 11th consecutive time at 6.5%, cut the economic growth forecast to 6.6% for 2024-25 from the earlier 7.2%, and reduced the cash reserve ratio (CRR) by 50 basis to 4%, which is expected to release nearly…
In order to attract more capital inflows, it has been decided to increase the interest rate ceilings on FCNR(B) deposits. (AI image) Cheer for NRIs! The RBI has enhanced the interest rate ceiling for FCNR(B) deposits to overnight Alternative Reference Rate (ARR) plus 400 basis points for deposits with maturities between 1 year and less…
India’s forex reserves rise to $658.09 billion NEW DELHI: India’s foreign exchange reserves increased by $1.51 billion to $658.09 billion in the week ending November 29, the Reserve Bank of India (RBI) reported on Friday. This marks the first rise in nine weeks, recovering from a five-month low.The reserves had previously declined by a cumulative…
LG Electronics India Ltd, the Indian subsidiary of South Korea’s LG Electronics Inc, has filed draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The public issue, entirely an offer for sale (OFS), involves the sale of 10.18 crore equity shares by the promoter, LG Electronics Inc,…
It’s important to note that PAN 2.0 has more robust mechanisms to weed out duplicate PANs. (AI image) PAN 2.0: Do you have multiple PAN Cards? The Cabinet Committee on Economic Affairs (CCEA) has recently given its green signal to the Income Tax Department’s PAN 2.0 initiative. This programme aims to modernise and digitise the…
What was RBI’s policy rationale for keeping the repo rate unchanged? RBI MPC meeting: The Reserve Bank of India’s Monetary Policy Committee (MPC) on Friday decided to keep the key repo rate unchanged at 6.5% by a 4:2 majority. The decision to keep the repo rate at status quo comes at a time when the…
This week, the Nifty and Sensex advanced 2.3% and 2.4% respectively, marking their best performance since early June when the national election results assured policy stability. (AI image) Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, closed in red on Friday, but saw their strongest weekly performance in six months. The…
NEW DELHI: In a first for the road sector, NHAI on Thursday said it will issue Rs 1,000 crore green bonds in second week of Dec to raise funds to implement environment-friendly steps on Delhi-Mumbai Expressway (DME) project.“This fund will be used for activities such as expenditure on avenue plantation, median plantation, construction of animal…
MUMBAI: As more brands hop onto quick commerce platforms to reach a wider set of customers and tap into the growing instant shopping opportunity, it is nudging ecommerce companies to look the same way.Myntra is the latest to join the quick commerce rush. With its M-Now offering, it will provide users with faster deliveries of…
