Economy

‘It is the primary responsibility of the public sector banks, as also infra creation’ Finance Minister Arun Jaitley on Sunday asked public sector banks to step up lending to the industrial sector as it is their ‘primary responsibility,’ besides ‘partnering infrastructure creation’. Mr. Jaitley, who was addressing the Union Bank …

From an accountant’s perspective, the govt. can rightfully stake a claim to the central bank’s surplus “Render unto Caesar the things that are Caesar’s and unto God the things that are God’s,” said Jesus. The Judean population of the time were evidently satisfied with the answer. But the RBI and …

Devastated orchard owners try to mend trees felled by untimely snowfall, say compensation announced is just a speck in comparison to the losses November is the peak wedding season in south Kashmir’s ‘apple bowl’ Shopian. But Riyaz Dar, an orchard owner from Hirpora village in the district, has decided to …

India continues to have the highest burden of pneumonia and diarrhoea child deaths in the world, with 1,58,176 pneumonia and 1, 02,813 diarrhoea deaths in 2016. This was stated in the ‘Pneumonia and Diarrhoea Progress Report’ released on Friday by the International Vaccine Access Centre (IVAC) at the Johns Hopkins …

A crucial meeting of Trade Ministers of RCEP member- countries, including India and China, will take place in Singapore on November 12-13 amid pressure being mounted on New Delhi to conclude talks for the proposed mega trade deal at the earliest, sources said. Regional Comprehensive Economic Partnership (RCEP) is a …

Plans to increase production to 14 million tonnes by 2021 The Indian foundry industry expects nearly 14% growth in the next two years, from the 5% to 7% now, according to members of the Institute of Indian Foundrymen here. The Indian foundry industry, the third-largest castings producer globally, is looking …

The capital markets regulator’s revised guidelines effectively cap such bids to 50% of the issue size A small but important amendment to the listing and disclosure regulations will soon see public issues reporting realistic subscription numbers especially in the segment reserved for high net worth individuals (HNIs) that is known …

Demand from firms, NFBCs drive loan growth; however, deposits grow slower In what could be an indication of a pick-up in private investment, loan growth of commercial banks is at a five-year high on the back of strong demand, latest data released by Reserve Bank of India (RBI) showed. According …

The rift between the two became public last month after a speech by RBI Deputy Governor Viral Acharya in which he cautioned that “governments that do not respect central bank independence will sooner or later incur the wrath of financial markets… ignite economic fire, and come to rue the day …

Initial contract is to despatch 50,000 tonnes to COFCO In a boost to sugar mills sitting on surplus stocks, India will start raw sugar exports to China in early 2019, and is in talks to finalise exports to Indonesia and Malaysia as well. In a statement on Thursday, the Commerce …

Indian regulations on capital requirements, provisioning for sour assets and prompt corrective action (PCA) restricting regular activities by lenders are conservative and rule-based, SBI’s research wing said in a report. It did not call for any relook in the report which comes amid a heated debate between the government and …

Several Asian member countries of the proposed Regional Comprehensive Economic Partnership (RCEP) have offered India a significant concession on the extent to which it needs to open up its markets, in a bid to encourage it to join the partnership quickly, according to a diplomat from Singapore. The RCEP is …

‘Board’s objective is to protect institution, not to serve others’ interests’ Amid mounting tension between the Reserve Bank and the Finance Ministry, former RBI Governor Raghuram Rajan has said the central bank was like a seat belt in a car, without which accidents could happen. Pitching for respect for the …

Cash in circulation and ATM withdrawals have only increased, RBI data shows Thursday, November 8, marks the second anniversary of the demonetisation exercise. It was on the same day in 2016 that Prime Minister Narendra Modi announced that Rs. 1,000 and Rs. 500 currency notes would no longer be legal …

It marks first anniversary of GI tag for popular sweet The West Bengal government has decided to observe ‘Rosogolla Day’ on November 14 to commemorate the first anniversary of the State’s famous sweet getting Geographical Indication (GI) tag as ‘Bengal’s Rosogolla’, an official said on Wednesday. Different varieties of rosogollas …

Right to Food campaign exhorts poll-bound parties With five States set to go to the polls this month, the Right to Food Campaign has decided to raise the mandatory requirement of Aadhaar for availing of social benefits an electoral issue. ‘Amend Aadhaar Act’ “We intend to go to all political …

There are no mandatory pension benefits in the final version of the Centre’s model construction workers’ welfare scheme, despite earlier suggestions that 20% of the construction cess fund be set aside for retired workers. The final version of the scheme, which was released last week, simply notes that: “Considering that …

Required for original message sender’s identification: govt. The government on Wednesday said it does not want WhatsApp to “decrypt and read” messages sent on its platform but “insists” that the Facebook-owned firm be able to trace the origin of messages that lead to serious crimes. This was conveyed to WhatsApp …

Reiterating that RBI’s autonomy is within the Act sends the message: ex-officials The Finance Ministry’s statement on Wednesday regarding the Reserve Bank of India and its reiteration of the consultative process with the central bank is welcome. But the fact that it mentioned that the central bank was autonomous within …

They are net sellers at $4 billion, which is the highest for any month in the last 16 years October has turned out to be the worst-ever month for Indian equities in terms of outflows from foreign portfolio investors (FPIs) that are often looked upon as the prime drivers of …