Economy

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 …