Latest Indian Economy News

United Nations, Apr 20 (PTI) With food and energy costs spiralling, especially for many developing countries in the wake of the Russia-Ukraine conflict, India has for the first time told the UN Security Council that energy security is a "serious concern” and needs to be “addressed through cooperative efforts.” India’s Deputy Permanent Representative at the [...]

Washington, Apr 20 (PTI) Finance Minister Nirmala Sitharaman has held talks with Financial Stability Board Chair Klass Knot and Vice of the Climate Finance Leadership Initiative (CFLI) Mary Schapiro here and exchanged views on dimensions of risk in crypto eco-system and development of GIFT City, India's first operational smart city. Sitharaman, who arrived in Washington [...]

Mumbai, Apr 19 (PTI) The Reserve Bank of India on Tuesday allowed Rural Cooperative Banks (RCBs) to raise funds from people in their area of operation or existing shareholders through a variety of instruments. RCBs, which include state co-operative banks and district central co-operative banks, can raise funds from preference shares and debt instruments, RBI [...]

Mumbai, Apr 19 (PTI) The Reserve Bank on Tuesday said the limits for investment in government securities (g-secs), state development loans and corporate bonds will remain unchanged at 6 per cent, 2 per cent and 15 per cent, respectively, of outstanding stocks of securities for the current financial year.As of now, all investments by eligible [...]

Washington, Apr 19 (PTI) Finance Minister Nirmala Sitharaman on Tuesday discussed a range of issues, including the current geopolitical situation and its economic impact, with IMF chief Kristalina Georgieva, and highlighted the Indian government's commitment to support growth through capital expenditure. During the meeting with Georgieva on the sidelines of the ongoing annual spring meetings [...]

Kolkata, April 19 (PTI) Bangladesh Commerce Minister Tipu Munshi met West Bengal Chief Minister Mamata Banerjee on Tuesday and discussed issues of common interest in the area of trade and investment and stressed the need for improving infrastructure at the border for trade facilitation, a statement said. The meeting took place on the eve of [...]

Colombo, Apr 19 (PTI) Sri Lanka's embattled Prime Minister Mahinda Rajapaksa on Tuesday proposed to restore the 19th Amendment to the Constitution to curb the powers of his younger brother Gotabaya Rajapaksa and empower Parliament, as protests intensified against the government over its handling of the country's debt-ridden economy. Sri Lanka is grappling with unprecedented [...]

Kolkata, Apr 19 (PTI) TMC Rajya Sabha MP Jawhar Sircar Tuesday said West Bengal’s ruling party “strongly feels” that the BJP-led central government was “fuelling” inflation, instead of controlling it, due to its handling of the economic impact of the Russia-Ukraine crisis. He said the TMC also took exception to the Centre’s economic policies that [...]

Washington, Apr 19 (PTI) The International Monetary Fund on Tuesday projected a "fairly robust" growth of 8.2 per cent for India in 2022, making it the fastest-growing major economy in the world, almost twice faster than China's 4.4 per cent.The global growth has been projected at 3.6 per cent in 2022, down from 6.1 per [...]

Kathmandu, Apr 19 (PTI) Nepal's Supreme Court on Tuesday stayed the government’s decision to suspend Central Bank Governor Maha Prasad Adhikari, amidst reports that the move was triggered due to his differences with Finance Minister Janardhan Sharma. A single bench of Justice Hari Prasad Phuyal issued a short-term interim order urging the government not to [...]

Mumbai, Apr 19 (PTI) Indian Staffing Federation (ISF) on Tuesday said facility management and security services companies will be part of the grouping. The alignment between the subsects of the manpower outsourcing industry - facility management and security services - is similar and the current representation across the labour market issues impacts each of these [...]

Chennai, Apr 19 (PTI) A Green Hydrogen Policy would be unveiled and a study would be taken up for identifying, in association with the Indian Railways, contours for setting up a highspeed rail corridor in the state, the Tamil Nadu government announced on Tuesday in the Assembly.The Industries Department shall be renamed as Industries, Investment [...]

New Delhi, Apr 19 (PTI) Steel Minister Ram Chandra Prasad Singh on Tuesday asked the steel CPSEs to utilise their Rs 1,3156-crore Capex to enhance the production capacity, modernisation of plants and install environmentally-efficient technologies.The minister made the above remarks while chairing a meeting of steel CPSEs to review the capital expenditure incurred by them [...]

Chennai, Apr 19 (PTI) The Tamil Nadu government has planned to develop a new airport in the industrial belt of Hosur (in Krishnagiri district and located about 40 km from Bengaluru), and a study on air traffic and other aspects has been ordered, state Industries Minister Thangam Thennarasu said on Tuesday. The Tamil Nadu Industrial [...]

Kolkata, Apr 19 (PTI) Ambassador of Kenya, Willy Bet on Tuesday sought Indian investments to the African country in various sectors ranging from oil to healthcare. The other sectors where Bet sought Indian investment are agro-processing, financial business, tourism, manufacturing and textiles. Kenya, he said, offers to invest in areas like private insurance, renewable energy, [...]

New Delhi, Apr 19 (PTI) The Association of Direct Selling Entities of India (ADSEI) on Tuesday said its members operate maintaining transparency and in compliance with the strict guidelines and regulatory framework in the country. This comes a day after the Enforcement Directorate (ED) attached assets worth over Rs 757 crore of Amway India, as [...]

Colombo, Apr 19 (PTI) Sri Lanka's embattled Prime Minister Mahinda Rajapaksa on Tuesday proposed to restore the 19th Amendment to the Constitution to curb the powers of his younger brother Gotabaya Rajapaksa and empower Parliament, as protests intensified against the government over its handling of the country's debt-ridden economy. Sri Lanka is grappling with unprecedented [...]

New Delhi, Apr 19 (PTI) EMIs for home, car and personal loans are set to go up for existing borrowers, with State Bank of India (SBI) and other major lenders including Bank of Baroda (BoB), Axis Bank and Kotak Mahindra Bank increasing their benchmark lending rates by up to 0.10 per cent. The lending rate [...]

Fresh Equity Round comes from Nuveen’s Global Impact Fund and Triple Jump’s ASN Microkredietfonds Bengaluru, Karnataka, India – Business Wire India • Kinara Capital closes Series E round and marks 7th year of profitability • Fintech aims 5X growth by increasing book size to INR 6,000 Cr by 2025 • Two new members from Nuveen [...]