Economy

RBI’s Central Board explained: What it is, how members are appointed

Reserve Bank of India Governor Urjit Patel has convened a meeting of the board of directors of the Central Bank on November 19 to discuss issues related to liquidity for NBFCs, credit for MSMEs and ne

RSS ideologue S Gurumurthy slams RBI, hails demonetisation; here is all he said in 9 quick points

Studies have suggested between 12% to 19% as the adequate level of reserves. However, the Reserve Bank of India is sitting on some 27-28% and no central bank in the world maintains such high levels of

Indian economy would have collapsed, Modi’s demonetisation saved it, explains RSS ideologue S Gurumurthy

RBI independent director S Gurumurthy on Thursday once again said that India’s economy would have collapsed but for demonetisation.

Cashless India is not happening; here’s why

Policymakers looking to eliminate financial exclusion should be mindful of the reality that half of the world is dependent on cash, say experts.

Dilution of RBI norms for power companies will set dangerous precedent, say experts; SC verdict likely today

The Supreme Court is likely to deliver a verdict today on the clutch of petitions, including from power producers’ association, seeking relaxation of the Reserve Bank of India (RBI) norms that m

Tighter-than-global norms hit lending: S Gurumurthy, Independent Director, RBI Board

In what signalled Monday’s much-watched RBI board meet will be a stormy one despite the government toning down the rhetoric of late, RBI board member S Gurumurthy Thursday asserted that India should

Trade Data: Electronic goods imports robust despite weak rupee

Electronic goods have remained above the $5 billion dollar-mark for the last four months.

With rise in demand, discoms have realised benefits of power trading: Satyanarayan Goel, CEO, IEX

Satyanarayan Goel, CEO, IEX, speaks to FE's Anupam Chatterjee about the changing dynamics of electricity trade in spot power markets with the advent of renewable energy and other disruptions.

GST Bengaluru division busts fake invoice racket

The accused had floated several fake companies engaged in trading fake invoices for availing input tax credit by various steel scrap dealers and manufacturers of iron and steel products.

Hardeep Puri warns states against tweaking realty law

The minister said Uttar Pradesh, Haryana and Punjab need to take the suitable action to ensure that their state rules are in line with the Rera.

The digital divide: India’s rising digital uptake demands a digitally inclusive environment

With India’s rising digital uptake, it is imperative to foster a digitally inclusive environment.

60 crore Indians hadn’t seen a bank; now half of them have their own bank accounts: Arun Jaitley

Arun Jaitley stresses upon the fact that not only India needs a higher growth rate to eliminate poverty but also inclusive policies to ensure that the benefits of the economic development reach the po

Government may find difficult to meet 3.3% deficit target, India’s growth to fall to 7.3% in FY20, says Fitch

India's real GDP growth is expected to be at 7.8 percent in FY19, up from 6.7 percent in FY18 even as the government may find it tough to meet its fiscal deficit target of 3.3 percent, Fitch said.

With trade touching an all-time high of $1.60 bn, India and Peru to discuss FTA in New Delhi next month

With bilateral trade between India and the South American country Peru touching an all-time high of $1.60 bn, the next round of talks for the free trade agreement (FTA) between the two countries is sc

Pakistan economic crisis: Amid bailout review, IMF tells Pak to raise taxes to survive

IMF is reportedly dissatisfied with its fiscal policies, and has directed the country to raise taxes in order to survive. Notably, taxes in Pakistan comprise less than 10% of GDP, and less than 5 lakh

How sharp crude oil price fall actually hurt Indian economy, JP Morgan’s Sajjid Chinoy explains

Sajjid Chinoy said it is misleading to say that Indian rupee is Asia's worst performing currency. People generally look at the dollar-rupee rate, but it's the trade-weighted exchange rate -- the real

India’s transition to low carbon economy still short, claims report

India's sectoral policies were still falling short of being consistent with the 2015 Paris Climate Change Agreement, but the country's ambitious policy on renewable electricity was a promising sign, a

These 4 southern states bring half of India’s overseas remittances; Kerala tops the list

In terms of countries, 82% of the total remittances came from seven countries - UAE, the US, Saudi Arabia, Qatar, Kuwait, the UK and Oman. On the other hand, Indian residents working in the US, consid

Demonetisation: 80,000 being chased by I-T for large cash deposits

The income-tax department (I-T) is ‘chasing’ 80,000 persons who had deposited cash during demonetisation period which didn’t match their income profile, chairman of central board of direct taxes

RBI Board meet: Finance Ministry keen on boosting MSME credit, NBFC liquidity

Not to press higher surplus transfer by RBI for now.

Broadband connectivity in villages under Bharat Net fails to pick up

Another official said that till October, 1.15 lakh GPs were service ready, which means that last mile internet connectivity from the GP to the consumer using Wi-FI hotspots or other means can be provi

CLSA’s Chris Wood bets on Modi’s re-election next year but with reduced majority

Chris Wood of CLSA is betting on the re-election of Narendra Modi as the prime minister of the country in the upcoming Lok Sabha polls.

P Chidambaram attacks Modi govt on PM Fasal Bima Yojana, says it allows insurance companies to rob farmers

PM Fasal Bima Yojna was designed to profit the insurance companies at the cost of the farmers, says P Chidambaram

MSME lending, PCA issue: RBI, govt trying to reach common ground, say sources

The government and Reserve Bank seem to be veering around to reach an agreeable solution particularly with respect of relaxation of the Prompt Corrective Action (PCA) framework and easing of lending n

Heavens seem to be smiling on India, says Uday Kotak; here’s why

Heavens seem to be smiling on India, said top banker Uday Kotak on a development that is advantage India. Here's what he is talking about.

Infosys founder Narayana Murthy backs Modi for second term, pitches for continuity

Infosys founder Narayana Murthy also talked about the ongoing rift between the central government and the Reserve Bank of India (RBI), and said that both parties - the RBI and the government - are doi

Room ACs to make India bigger climate villain than China; here’s how

Air conditioners are making your room cooler and the Earth warmer! And India could become a bigger climate villain than China by 2050.

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