Cryptocurrencies clear danger, says RBI Governor

Cryptocurrencies clear danger, says RBI Governor

Reserve Bank Governor Shaktikanta Das on Thursday described cryptocurrencies as "clear danger" and said that anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name. The government is in the process of finalising a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions. Reserve [...]
Specialty steel: Govt extends deadline to apply for PLI scheme fourth time till Jul 31

Specialty steel: Govt extends deadline to apply for PLI scheme fourth time till Jul 31

The government has extended for the fourth time the deadline to submit applications under the production-linked incentive scheme for specialty steel till July 31, 2022. Initially, March 29 was the last date for manufacturers to apply for the benefits under the PLI (Production-Linked Incentive) scheme for speciality steel. It was later extended till April 30, [...]
12 states demand extension of GST compensation beyond June

12 states demand extension of GST compensation beyond June

About a dozen states on Wednesday pitched for extending by a few years the compensation paid to states for revenue lost from the implementation of the goods and services tax (GST) regime. The GST Council, the highest decision-making body of the indirect tax regime, however, did not take any decision at its meeting here. A [...]
Expecting more rate hikes in FY23; tighter financial conditions can impact growth: Parekh

Expecting more rate hikes in FY23; tighter financial conditions can impact growth: Parekh

Inflationary pressures are likely to continue and force the RBI to further hike interest rates during the course of the current fiscal but the tighter financial conditions can impact growth, finance industry veteran Deepak Parekh said on Wednesday. Parekh, who is the chairman of HDFC Asset Management Company, said there are reasons to be optimistic [...]
Credit card spend crosses Rs 1.13 lakh cr in May: RBI data

Credit card spend crosses Rs 1.13 lakh cr in May: RBI data

Credit card spending has crossed Rs 1.13 lakh crore in May compared to Rs 1.05 lakh crore in the previous month according to official data. The month-on-month rise in spending through cards indicates a pick-up in economic activity. The latest data from the Reserve Bank of India (RBI) showed that 7.68 crore credit card holders [...]
Government is considering to roll out PLI scheme for apparel sector

Government is considering to roll out PLI scheme for apparel sector

Commerce and Industry Minister Piyush Goyal on Saturday said the government is considering to roll out the production-linked incentive (PLI) scheme for the apparel sector to boost domestic manufacturing and exports. He said that discussions on the same are underway between the textiles ministry, the department for promotion of industry and internal trade (DPIIT) and [...]
Power tariff hike in Kerala after 3 years

Power tariff hike in Kerala after 3 years

The Kerala State Electricity Regulatory Commission on Saturday announced 6.6 per cent hike in power tariffs in the state. Revising the power tariff after three years, the Commission, however, said there would be no increase in tariff for the weaker sections, agricultural consumers, small scale industries and small farmers. State Electricity Minister K Krishnankutty said [...]