Points to headwinds from elevated global crude prices and minimum support prices for kharif crops as reason. India Ratings and Research (Ind-Ra) has revised its FY19 economic growth forecast down to 7.2% from 7.4% earlier. It cited the headwinds emanating from elevated global crude oil prices and the government’s decision …

Ashok Leyland, the Hinduja Group’s flagship company, unveiled Innoline, a BS IV engine driven by an in-line fuel pump. “This is the latest innovation from Ashok Leyland for commercial vehicles,” said Vinod K. Dasari, managing director, Ashok Leyland. “This technology can be upgraded and used for BS VI engines as …

Tea growers see an opportunity to boost the competitiveness of Indian tea in the global market, riding on the rupee’s recent weakness. India’s tea exports remained flat at 46.8 million kg between April and June compared to a year earlier although prices increased marginally. Arijit Raha, secretary general, ITA concurred …

The National Payments Corporation of India (NPCI) has upgraded the unified payments interface (UPI) with enhanced security features and overdraft facilities. Unveiling the UPI 2.0 on Thursday, RBI Governor Urjit Patel said that the upgraded UPI was the result of the calibrated approach adopted by RBI in the initial years …

Reserve Bank of India (RBI) Governor Urjit Patel sees domestic growth impulses continuing to remain reasonably strong as the monsoon, which has been normal ‘so far’, augurs well for the farm sector, according to the minutes of the Monetary Policy Committee’s meeting earlier this month. “The manufacturing sector has continued …

U.S. Treasury Secretary Steve Mnuchin warned on Thursday that Washington would levy more sanctions on the troubled Turkish economy if Ankara does not soon release a jailed American pastor. Mr. Mnuchin on Thursday suggested that the next spiral of tit-for-tat sanctions was coming soon. “We have put sanctions on several …

For nearly 10 years now, the flood of cash from global central banks has financed shopping malls in Istanbul, booming cities in China and 100-year bonds in Argentina. Today, many of the malls are empty, property developers in China are riddled with debt, and Argentina has just submitted to a …

Cabinet Secretary orders supply of drinking water, dry food packets to flood-hit Kerala The Centre on Thursday informed the Supreme Court that the Union Cabinet Secretary had constituted a committee chaired by the chairman of the Central Water Commission and engineers-in-chiefs of Tamil Nadu and Kerala for “proper reservoir management …

Foreign exchange reserves have declined by $23 billion in the last four months, and stood at $402.7 billion as of the week ended August 3, 2018. The weak trend in the global markets along with the fall in the rupee affected investor sentiment in the equity market as well, with …

Attorney-General K.K. Venugopal argued that SC/ST are a “homogeneous group and any action to regroup them based on economic or social advancement would not be apt”. Mr. Venugopal said rigorous modalities were prescribed for inclusion of communities in the list of SCs/STs. “For inclusion of communities in the list of …

The Indian Army will “abide by its commitment” to uphold the ceasefire understanding of 2003 if the Pakistan Army “initiates positive steps to control infiltration and abetment of terrorism” in J&K, Pakistan was told on Thursday. This was conveyed during a conversation between the Directors General of Military Operations (DGMOs) …

The Supreme Court on Thursday told Tamil Nadu and Kerala that “an effort has to be made to bring the water level [in the Mullaperiya dam] to 139 feet so that people downstream (of the dam) do not live in constant fear”. The authorities should notify a disaster management plan …

The kind of tension typically felt outside a maternity ward was seen at Byculla zoo on Wednesday. Anxious minutes passed as staffers waited for the baby’s arrival. And at 8.02 p.m., they saw, via CCTV, the sight they had anticipated for 40 days — the first Humboldt penguin to be …

Former Prime Minister Atal Bihari Vajpayee stood among the tallest leaders of modern India, his successor as Prime Minister, Dr. Manmohan Singh, said in an interview. Dr. Singh said both he and Mr. Vajpayee carried forward each other’s policies on economic liberalisation and ties with the U.S. and Pakistan. Excerpts: …

The Supreme Court on Thursday refused to take the views of political parties on the Centre’s standard operating procedure (SOP) and modalities for filing and disposal of claims/objections leading to the publication of the final National Register of Citizens (NRC) for Assam. State NRC Co-ordinator Prateek Hajela informed a Bench …

A high level committee headed by the Cabinet Secretary met on Thursday and decided to scale up relief and rescue operations in flood-hit Kerala by involving the three defence services and other agencies. The Central government has been providing full support to Kerala and has launched massive relief and rescue …

The Madhya Pradesh police have rescued at least 45 people who were stranded in the Sultan Garh Waterfalls in Shivpuri district on Wednesday due to a sudden surge in water. A search operation is under way to locate a few missing persons who were swept away by the gushing water, …