Economy

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 …

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 …

Aluminium makers hit by coal shortage, says FIMI Aluminium makers are facing shortage of coal to run their captive power plants which has hit their refinery and smelting operations adversely, according to the Federation of Indian Mineral Industries (FIMI). Captive power plants of aluminium makers are not getting coal even …

State-run power giant NTPC will soon set up a subsidiary to handle its coal mining operations and also plans to enter commercial coal mining after meeting its requirement, an official said. The power sector behemoth also has a plan to list the coal subsidiary subsequently on stock exchanges. “The NTPC …

Tata Steel Ltd. CEO and MD T.V. Narendran on Wednesday said the steel sector had been witnessing a positive growth and this trend would continue with improving economic activities across the world. Talking to reporters after hoisting the Tricolour on the occasion of the 72nd Independence Day at Tata Steel …

Union Minister Arun Jaitley said India has sufficient foreign exchange reserves to mitigate any undue volatility in the currency market. His comment comes a day after the rupee fell sharply to breach the 70-mark against the dollar for the first time. In a series of tweets, Mr. Jaitley said that …

State-run lender IDBI Bank, which is set to be taken over by the Life Insurance Corporation of India, may face a capital shortfall in the current financial year, its chief executive officer and managing director B. Sriram said in an address to the employees. “While we have met the capital …

While the governments at the Centre and States have taken proactive steps to encourage electric vehicles (EVs), on-ground hurdles such as high levels of corruption at the regional transport offices (RTOs) could hold back the sector, according to Goldie Srivastava, CEO of SmartE, an electric vehicle solution provider that has …

India shipped larger quantities of tea to two neighbouring countries — China and Pakistan — in the first half of 2018, when overall tea exports increased to 112.1 million kg, from 107.1 million kg in the year earlier period. According to data with the Tea Board, total earnings between January …