Colombo, Mar 9 (PTI) Sri Lanka is set to finalise another credit facility with India for food, medicine and other essential items which would help the island nation facing the worst economic crisis in decades, official sources here said on Wednesday.Sri Lanka is currently reeling under a severe foreign exchange crisis with falling reserves. The [...]
Beijing, Mar 9 (PTI) China once again kept mum on Sri Lanka’s request for debt restructuring but said it has been assisting the island nation to the best of its ability to overcome its forex crisis.Sri Lanka, which has emerged as a key foothold for China in the Indian Ocean region, is currently reeling under [...]
Raipur, Mar 9 (PTI) Keeping the existing tax rates unchanged, Chhattisgarh Chief Minister Bhupesh Baghel on Wednesday presented Rs 1,04,000 crore annual budget for 2022-23 in the state legislative assembly, and announced to reinstate the old pension scheme for the state government staffers and to double the yearly MLA local area development fund. He also [...]
New Delhi, March 9 (PTI) The proposed Central Bank Digital Currency (CBDC) to be issued by the Reserve Bank will play a critical role in improving the speed of transactions and reducing the cost of cash, a Deloitte report said on Wednesday.The Reserve Bank of India is planning to come out with a central bank-backed [...]
Washington, Mar 9 (PTI) The US India Business Council (USIBC) has added four top executives to its India Advisory Council, a premier strategic body comprising a highly influential network of senior India-based executives and thought-leaders committed to growing trade and investment between America and India. The executives are heads of India operations of 3M, Dell, [...]
New Delhi, Mar 9 (PTI) Non-banking financial company Moneyboxx Finance on Wednesday said its assets under management (AUM) has crossed Rs 100 crore and it targets to grow it by four times in the next financial year. The company, which provides small-ticket loans to micro and small enterprises in tier-III and below locations, said it [...]
Colombo, Mar 9 (PTI) Sri Lanka’s current forex crisis and its related economic problems would not end any time soon, the main Opposition claimed on Wednesday. Main Opposition Samagi Jana Balawegaya (SJB)’s economic affairs spokesman Harsha de Silva said it “looks like the crisis will prolong. (It’s a) Huge governance failure”. He said that he [...]
Mumbai, Mar 9 (PTI) The Reserve Bank on Wednesday said it has not authorised any external agency to redress public complaints against regulated entities.Instances of misinformation being spread through certain sections of the social media about the Reserve Bank - Integrated Ombudsman Scheme 2021 (RB-IOS) - have come to the notice of the RBI, the [...]
Mumbai, Mar 9 (PTI) The country's current account deficit (CAD) is likely to widen to a 13-quarter high of USD 23.6 billion or 2.8 per cent of GDP in October-December 2021-22 due to higher commodity prices following the Russia-Ukraine conflict, India Ratings and Research (Ind-Ra) said in a report. The report said although the Omicron-led [...]
Equity mutual funds attracted a net sum of Rs 19,705 crore in February, making it the 12th consecutive monthly net inflow, amid a highly volatile stock market environment due to the current geopolitical situation. In comparison, equity mutual funds saw a net inflow of Rs 14,888 crore in January and Rs 25,077 crore in December, [...]
