Washington, Apr 19 (PTI) Finance Minister Nirmala Sitharaman on Tuesday held talks with IMF chief Kristalina Georgieva during which they voiced concern over the impact of the recent "geopolitical developments" on the global economy and the challenges faced by countries due to rising energy prices.Sitharaman, who arrived in Washington on Monday, met the International Monetary [...]
Mumbai, Apr 18 (PTI) Higher foreign exchange reserves have lowered the cost of foreign borrowings and also the hedging cost for companies, according to a paper published in RBI's monthly bulletin.Since 2019, the RBI has been accumulating forex reserves that peaked at USD 642.453 billion in the week ended September 3, 2021, which was more [...]
Mumbai, Apr 18 (PTI) Mumbai international airport on Monday said it witnessed 5,56,900 metric tonnes of cargo movement during the financial year 2021-22, an increase of 30 per cent from the previous fiscal. The total exports from the cargo terminal stood at 2,96,300 MT while the inbound shipments recorded at 2,60,600 MT in FY22, Chhatrapati [...]
New Delhi, Apr 18 (PTI) Capital markets regulator Sebi on Monday said it has issued operational guidelines for security and covenant monitoring using Distributed Ledger Technology (DLT). In August, the regulator specified the manner of recording of charges by issuers and manner of monitoring by debenture trustees, credit rating agencies and responsibilities, among others. The [...]
New Delhi, Apr 18 (PTI) India's sugar exports increased to USD 4.6 billion (about Rs 35,000 crore) in 2021-22 from USD 1.17 billion (about Rs 9,000 crore) in 2013-14, the commerce ministry said on Monday. India exported sugar to 121 countries across the globe, it said."The growth was achieved despite logistical challenges posed by COVID-19 [...]
Mumbai, Apr 18 (PTI) India is facing the tremors caused by geopolitical developments from "a position of strength" with improving fundamentals and strong buffers, according to an RBI article. Broadened vaccine coverage, financial sector resilience, robust export and remittances, and fiscal reprioritisation to spur capital spending on infrastructure are helping India, the article said, adding [...]
New Delhi, Apr 18 (PTI) New business premium income of all the life insurance companies rose by nearly 13 per cent to Rs 3,14,263 crore in fiscal 2022, data from Irdai showed on Monday.Twenty four life insurance companies had a total premium income of Rs 2,78,277.98 crore from new business in the previous fiscal.Soon-to-be listed [...]
New Delhi, Apr 18 (PTI) Agriculture Minister Narendra Singh Tomar on Monday launched two new portals, including one for registration of pesticides. Another portal is for documentation related to imports and exports of agri-products and plants. The minister launched the two portals -- CROP (Comprehensive Registration of Pesticides) and PQMS (Plant Quarantine Management System) -- [...]
Kathmandu, Apr 18 (PTI) The Nepal government has cut fuel allowance of its ministries and state-owned enterprises by 20 per cent, as the country battles a foreign exchange crisis and the price of petroleum products sky-rockets globally, officials said on Monday. The decision was taken at a meeting of the Council of Ministers held on [...]
The Reserve Bank's endeavour to improve monetary policy transmission by banks has gained traction, especially with the advent of the EBLR regime in October 2019 and the pace is likely to strengthen further, an RBI article said. Earlier, the internal benchmark-based lending rate regimes had faced a multitude of issues, such as arbitrariness in the [...]
