Economy

Fertiliser subsidy arrears to the industry have come down by 75% to Rs. 10,000 crore in the last four years and the outstanding amount is expected to be cleared by the end of this fiscal year, Union Chemicals and Fertilisers Minister Sadananda Gowda said Wednesday. The Central government will also …

Reserve Bank of India Deputy Governor Viral Acharya assured that the central bank was ready to stand as the lender of last resort in the context of liquidity needs of the non-banking finance sector. At the same time, Mr. Acharya said the present situation did not warrant any drastic steps …

In the post-policy interaction with the media, RBI Governor Urjit Patel declined to answer questions on the issues of RBI autonomy and rift with the government. You have given some hope on interest reversal, that is, in case the upside risks [to inflation] do not materialise. So when will the …

Move will permit flexible hedging of rupee interest rate risk The Reserve Bank of India (RBI) Wednesday issued draft guidelines on non-residents’ participation in the interest rate derivative (IRD) market. The draft norms have proposed non-resident Indians’ (NRIs) access to the IRD market, allowing them to hedge their rupee interest …

Linking retail loans with external yardstick aimed at bringing in more transparency in pricing In a bid to bring in more transparency to loan pricing mechanism, particularly for small borrowers, the Reserve Bank of India (RBI) has asked banks to link the floating interest rate on retail loans and loans …

The Reserve Bank of India (RBI) has left the key interest rate or the repo rate unchanged at 6.5% during the fifth bimonthly monetary policy review on Wednesday — which was on expected lines — while maintaining the ‘calibrated tightening’ stance though it reduced the inflation projection sharply. All the …

Centre expects receipts to exceed the budgeted target this year, says chairman Demonetisation was beneficial in terms of increasing the tax base as well as increasing direct tax collections, Central Board of Direct Taxes Chairman Sushil Chandra said on Tuesday. The government expects to exceed the budgeted target for direct …

The government has constituted a six-member committee to look at selling as many as 149 small and marginal oil and gas fields of state-owned ONGC and Oil India to private and foreign companies to boost domestic output, sources said.The panel is headed by NITI Aayog Vice Chairman Rajiv Kumar and …

China has not accepted India’s proposal to carry out bilateral trade in local currencies, which was aimed at bridging the ballooning trade deficit with the neighbour, an official said.India’s exports to China stood at only $13.4 billion and imports aggregated to $76.4 billion in 2017-18, leaving a trade deficit of …

Does an old military truck or a dismantled part of an old car or a broken bicycle have any place in a restaurant or a lounge bar where one would go to enjoy food or wine? Shouldn’t these things belong to the junkyard and stay there?No, if you ask 44-year-old …