Mumbai: Reserve Bank on Friday projected the growth rate for the upcoming financial year at 6.7 percent, up from 6.4 percent estimated for the current fiscal ending March. Healthy Rabi prospects and an expected recovery in industrial activity should support economic growth in 2025-26, RBI Governor Sanjay Malhotra said while announcing his first bi-monthly monetary…
Mumbai: The RBI under new Governor Sanjay Malhotra on Friday cut interest rate for the first time in nearly five years as the central bank pivoted the policy stance to support a shuttering economy. The 25 basis points rate cut to 6.25 percent comes after the last rate reduction in May 2020. The last revision…
Washington: President Donald Trump has signed an executive order sanctioning the International Criminal Court, accusing it of “illegitimate and baseless actions targeting America and our close ally Israel”. The measure places financial and visa restrictions on individuals and their families who assist in ICC investigations of American citizens or allies. Trump signed the measure as…
New Delhi: India’s services sector activity expanded at the slowest pace in over two years in January amid softer increases in sales and output, a monthly survey said on Wednesday. However, job creation saw a notable uptick and business sentiment remained positive despite heightened cost pressures. But, despite the slowdown, the HSBC Services PMI data…
New Delhi: The GST Council will soon decide on having fewer and lower rates as the review work is almost complete, Finance Minister Nirmala Sitharaman said on Tuesday. Currently, Goods and Services Tax (GST) is a four-tier tax structure with slabs at 5, 12, 18 and 28 percent. Luxury and demerit goods are taxed at…
New Delhi: Prime Minister Narendra Modi is set to pay a two-day visit to the US from February 12 to hold talks with US President Donald Trump on a range of issues including trade and defence, people familiar with the matter said on Monday. As per the plan, Modi will travel to Washington DC after…
Mumbai: The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank’s comfort zone…
New Delhi: Markets regulator Sebi is looking to come out with a new mechanism to ensure secure and efficient payments in the securities market through Unified Payments Interface (UPI) in bid to distinguish legitimate financial intermediaries from fraudsters. Under the proposed mechanism, the regulator has suggested creating a unique UPI address for registered market intermediaries,…
New Delhi: Finance Minister Nirmala Sitharaman on Sunday rejected criticism over the slide of the Indian rupee, saying it has depreciated only against a strengthening US dollar but remained stable against all other currencies because of the strong macroeconomic fundamentals. In an interview with PTI, she said a 3 per cent depreciation in the rupee…
New Delhi: Intact capital allocation and simplified customs duty in the Union Budget 2025 will boost the infrastructure sector and electronics manufacturing ecosystem for long-term growth, IT Minister Ashwini Vaishnaw said on Saturday. In an interview to PTI, Vaishnaw said the budget has met capital requirements for the development and at the same time provided…
