India doesn’t have issues like Pak & Sri Lanka, says Rajan

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RBI panel may go for 35-50bps hike, reversing Covid rate cuts

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View: Ringfence reforms to shield them from freebie culture

Giving a free pass to such freebie politics is not merely intellectual dishonesty but is also myopic for invariably in the wake of irresponsible schemes emanating from the politics of "free revdi" are permanent costs to the environment.

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India Pharma exports log 8% jump in Q1 to $6.26 bn

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Credit growth to MSME sector firm in 2022-23: SBI Research report

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HDFC raises home loan rates by 25 bps

The country’s largest housing finance company, HDFC, has increased its retail prime lending rate on home loans by 25 basis points (bps) from August 1, 2022. This is the fifth rate raise in two months. The lender has increased its benchmark rates by 115 bps (100 bps = 1%) this year.

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EPFO drops proposal to raise equity investment limit to 20%

Retirement fund body EPFO on Saturday dropped at the last minute a proposal to hike investments in equities or equity-related instruments from the existing 15% to 20%. The proposal, which had met with resistance from employees' representatives and trade unions, was part of the agenda items scheduled to be taken up at the meeting of the EPFO's central board of trustees but was dropped without citing any reason.

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EPFO defers equity investment cap hike

The CBT approved face authentication technology for digital life certificates, cleared a new central payment system for pensioners, and proposed a detailed legal framework to minimise litigation, they said.

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Deficient rains threaten Kharif crop production in Uttar Pradesh

Of the total 75 districts of the state, 67 recorded deficient rainfall while only seven recorded normal rainfall during this period. The less rainfall is reflected in the drop in Kharif cropping across the state.

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Elon Musk fires back at Twitter in court battle

Musk's counter-suit was submitted along with a legal defense against Twitter's claim that the billionaire is contractually bound to complete the deal he inked in April to buy Twitter, the Chancery Court in the state of Delaware said in a notice.

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Irdai flags reforms for investment, expenses

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Core growth slows in June but still in double digits

Electricity generation was up 15.5% in June, refinery products output grew 15.1% while fertiliser production rose 8.2% in the month from a year earlier. Production of cement rose 19.4%, steel was up 3.3%, and natural gas 1.2%. Crude oil output declined 1.7% from a year earlier.

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Apple CEO Cook praises India as business doubles

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Rupee gains will reduce pressure on RBI to sell dollars

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Rupee up 14p at 79.76/$, best gain in 2 months

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US Senate nod for $280bn bill to counter China

The US Senate on Wednesday passed an expansive $280-billion bill aimed at building up America's manufacturing and technological edge to counter China, embracing in an overwhelming bipartisan vote the most significant government intervention in industrial policy in decades. The plan is centered around investing federal money into cutting-edge technologies and innovations to bolster industrial, technological and military strength.

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Probe into bid to evade duty on China polyester yarn imports

"The authority hereby initiates an anti-circumvention investigation...to consider extension of existing anti-dumping duty on imports," the Directorate General of Trade Remedies (DGTR) said in a notification.

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Exporters explore ways to absorb rupee shock amid high global inflation

Jewellery exporters are opting to manufacture light weight ornaments while engineering goods manufacturers are scouting for cheaper Indian coal and coke. Carpet exporters are exploring ways to mix imported and local dyes to cushion the impact of expensive imports.

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Google blocks Krafton's battle-royale game in India, citing govt ban

Alphabet Inc's Google on Thursday blocked access to a popular battle-royale format game from South Korean developer Krafton, citing an order from the Indian government.

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Passenger vehicle sales expected to be robust in July: Report

Passenger vehicle sales are expected to be robust in July, driven by a large order book and production ramp-up, while commercial vehicle volumes may remain in an uptrend, a report said on Thursday.

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US Fed again raises rates by 75bps, all eyes on RBI

It is widely expected that the RBI would hike rates by 35-50bps despite believing that inflation has peaked in India. This is because the central bank will need to ensure that there is an interest rate differential between India and the US to attract dollars at a time when the country is expected to witness a record current account deficit and may have to dip into reserves to maintain the balance of trade.

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Pakistan and Bangladesh are running to the IMF, but what is keeping India away?

Even after depleting 11% of its foreign-currency arsenal, the Reserve Bank of India has only managed to keep the rupee near an all-time-low of about 80 to the dollar. Should New Delhi start filling up an IMF loan application? Not so fast.

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Jaguar Land Rover drives Tata Motors into a Rs 5,000 cr loss

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Fuel exports fall in June

India has the fourth-largest refining capacity in the world and is a net exporter of petroleum products. Petrol and diesel comprise two-thirds of total petroleum exports from the country.

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India needs to balance growth aspiration with maintaining macro-economic stability: Uday Kotak

According to him, the government's pledge to promote ease of business and faster implementation of large projects kept India a decent performer amidst tough global conditions.

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US: Fed opts for 75-basis-point rate hike, flags weakening economic data

The Federal Reserve raised its benchmark overnight interest rate by three-quarters of a percentage point on Wednesday in an effort to cool the most intense breakout of inflation since the 1980s, with "ongoing increases" in borrowing costs still ahead despite evidence of a slowing economy. Coming on top of a 75-basis-point hike last month and smaller moves in May and March, the Fed has raised its policy rate by a total of 225 basis points this year.

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Power engineers oppose coal imports as minister says no shortage

The All India Power Engineers Federation has questioned compulsory coal imports by generation companies and sought PM Narendra Modi’s intervention for withdrawal of the power ministry’s directive for 10% blending with imported coal, even as fuel inventories at 54 power plants remain critical.

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ONGC ties up with Greenko for green hydrogen foray

State-run ONGC is planning a joint venture with Hyderabad-based renewables major Greenko group for foraying into the green hydrogen and green hydrogen derivatives market.

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Govt starts work on sale of Alliance Air, other ex-AI cos

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IMF sees India's FY23 growth slowing to 7.4%

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Zero procurement of Rabi crops in Delhi since 2016-17 by FCI at MSP: Study

Procurement has been "abysmally low" in general and gone down to nil since 2016-17, said the study, recently released in the public domain.

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Explained: India's economic outlook at the mercy of monsoon

Asia's third-largest economy and the world's top producer of a host of critical crops such as rice, wheat and sugar has received 11% more than average monsoon rain since the four-month season began on June 1.

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Elon Musk asks judge to start Twitter trial on October 17

Elon Musk asked a judge to schedule a five-day trial beginning October 17, not October 10 as requested by Twitter Inc, to resolve his bid to walk away from his $44 billion deal to acquire the social media platform, according to a court filing on Tuesday.

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IOC taps riders with bikers’ cafes

From convenios, fleet cards to consumer clubs and raffles, fuel retailers are constantly looking to create a customer following. But as electric vehicles and scooties encroach on the traditional turf, they are panning lifestyle trends for niche markets.

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Govt warns of flaws in Apple Watch, hacking risk

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India has zero probability of slipping into recession, says survey

The probability of recession for several other Asian economies remained unchanged in the survey. Economists see a 20% chance that China will enter recession, and a 25% likelihood that South Korea or Japan will enter one. Asian economies have largely remained resilient compared to Europe and the United States.

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CAG to assess impact of old pension scheme on finances

The CAG has also started work on a comprehensive account of natural resources in the country that will aid policymakers in planning their sustainable utilisation.

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Park grants in nodal A/C or they'll be put back in Consolidated Fund, states told

Union ministries have shot off a flurry of communication to the chief secretaries of several states last week, warning that failure to transfer the full central share of funds for 2021-22 for each such scheme to the designated Single Nodal Agency (SNA) by July 20 (the last date set by the Department of Expenditure) will result in the amount returning to the CFI.

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More than 3 crore income tax return filed so far

Income Tax Department on Monday said that more than 3 crore returns have been filed through e-filing portal till date for the financial year 2021-22. Over 2.3 crore Income Tax Returns (ITRs) were filed till July 20 for the financial year 2021-22.

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HDFC Bank to be among global top 10 after merger

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Diagnostic companies offer discounts after Covid

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Govt may halve upfront pay to highway builders

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Trust-based taxation system resulting in improved collections: FM Nirmala Sitharaman

In her message on the 163rd Income Tax Day, the finance minister complimented the department for achieving the highest-ever revenue collection of over Rs 14 lakh crore in the last fiscal and expressed hope that the momentum would continue in the current fiscal too.

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Driven by oil, imports from Russia up 3.5 times

Driven by a sharp spike in crude oil shipments, India’s imports from Russia have shot up 3.7 times to top $5 billion during April and May 2022, with the value of consignments nearly already half the imports for entire 2021-22. Since February, when Russia attacked Ukraine, imports have risen close to three-and-a-half times to $8.6 billion, compared to $2.5 billion in the corresponding period in 2021.

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SEZ rules recast to give a boost to realty too: Experts

The Bill also proposes to set up an integrated single-window clearance mechanism for the grant of time-bound approvals for the establishment and operation of these hubs, including single application forms and returns.

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Mcap of nine of top-10 firms jumps over Rs 2.98 lakh crore

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Reliance expects gas price to rise in October

Reliance Industries Ltd expects prices of natural gas in India to rise again in October but wants government-dictated caps to go, in a bid to align domestic rates with global energy prices. The conglomerate, controlled by billionaire Mukesh Ambani, expects the price cap for its KG-D6 gas sales to rise over the current $9.92 per million British thermal units, Sanjay Roy, senior vice-president for exploration and production, said in an investor call following the announcement of the firm's quarterly earnings on Friday.

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Prompt grievance redressal of taxpayers top priority: CBDT chairman Nitin Gupta

In his message on the occasion of Income Tax Day, he said the tax department has reported the highest ever tax collection of Rs 14.09 lakh crore in the fiscal year ended March 31, 2022 due to streamlining of policies and processes that eased compliance for taxpayers.

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Indian stocks record best week since Feb 2021 on buying in banking, return of foreign funds

Foreign Portfolio Investors (FPIs) had been selling equities in the Indian markets for the past nine-to-ten months barring the latest buying due to various reasons, including tightening of monetary policy in advanced economies, and rising dollar and bond yields in the US. They have pulled out Rs 226,420 crore so far in 2022, NSDL data showed.

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Indian stocks record best week since Feb 2021

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