Business
Govt To Have A Say In New Payments Regulatory Board With A Significant Role
MUMBAI: In a major overhaul of the payments ecosystem, the Centre has notified the ‘Payments Regulatory Board Regulations, 2025’ to pave the way for a new Payments Regulatory Board (PRB) which will have significant representation from the government, and replace the Board for Regulation and Supervision of Payment and...
India-Oman FTA Close; Wider Jobs Window For India Likely
NEW DELHI: The talks on India-Oman free trade agreement have reached the final stages with both countries now engaged in sorting out a few remaining demands by New Delhi for safeguards from the frequent changes in the “Omanisation policy,” a senior official said. Under the policy, Oman mandates that...
RBI Bulletin Sees High Gold Prices Pushing Core Inflation
MUMBAI: While core inflation has inched up in recent months and came in at 18-month high of 4.21% in April, an article in the Reserve Bank of India bulletin highlighted that highly elevated gold prices is the reason behind the trend. This boosts chances of back-to-back cut in the...
India’s Business Activity Rises To A 13-Month High Of 61.2 In May On Services Sector: PMI Data
NEW DELHI: India’s private sector growth moved up a gear during the month of May with the HSBC Flash India Composite PMI Output Index climbing to a 13-month high of 61.2 in comparison to 59.7 in the previous month, preliminary data compiled by S&P Global showed on Thursday. The...
India Seeks ‘Full Exemption’ From 26% Tariff In Trade Deal With US
NEW DELHI: India and the US may announce an interim trade agreement before July 8, with New Delhi seeking full exemption from the additional 26 per cent tariff on domestic goods, an official said. The US on April 2 imposed an additional 26 per cent reciprocal tariff on Indian...
India-US May Announce Interim Trade Agreement Before July 8
NEW DELHI: India and the US may announce an interim trade agreement before July 8, with New Delhi seeking full exemption from the additional 26 per cent tariff on domestic goods, an official said. The US on April 2 imposed an additional 26 per cent reciprocal tariff on Indian...
Nearly Half Of Consumers Polled Switching To Private Labels: EY Survey
NEW DELHI: Indian consumers are re-evaluating their retail choices and nearly half of them are switching to private labels, according to an EY report which highlights heightened consumer expectations of value, trust and relevance from their purchase experiences. According to the latest EY Future Consumer Index (FCI) — India...
Outlook For India Is One Of Cautious Optimism, Says The RBI Report
MUMBAI: Amid uncertainties in the global economy due to tariff wars and weak consumer sentiments, the Indian economy is exhibiting resilience with various high frequency indicators of industrial and services sectors sustaining their momentum in April, the monthly state of the economy report of the Reserve Bank of India...
RBI To Slow Cash Boost After $100 Billion Injection
MUMBAI: The Reserve Bank of India is expected to slow its liquidity infusion after pumping Rs 8.57 lakh crore ($100.06 billion) into the banking system since December, with a large surplus transfer to the government expected soon, several investors said. The central bank concluded its final scheduled open market...
NITI Aayog’s Paper Bats For Revision Of Defence Laws
NEW DELHI: A NITI Aayog’s working paper has proposed amendment and revision in defence laws to develop a resilient and efficient defence supply chain in the face of evolving geopolitical tensions, cybersecurity threats, and global supply chain disruptions. The Aayog in the working paper said a resilient and efficient...
US Tariffs Unpredictability Has Negative Credit Consequences: Moody’s
NEW DELHI: Moody’s Ratings on Tuesday said the uncertainties around US tariffs have negative credit consequences for debt issuers across emerging markets, including companies, governments and banks. “The on-again, off-again US tariffs and difficulty predicting US trade policy have negative credit consequences for debt issuers across emerging markets,” Moody’s...
India, US Discuss Expediting Conclusion Of First Phase Of Trade Pact
NEW DELHI: Commerce and Industry Minister Piyush Goyal on Tuesday held discussions with US Commerce Secretary Howard Lutnick in Washington to expedite negotiations on the first phase of the proposed bilateral trade agreement between the two countries. Goyal is in Washington for a ministerial-level meeting to review the progress...
India’s Core Sector Growth Plunges To Eight-Month Low Of 0.5% In April
NEW DELHI: Output growth in India’s eight core infrastructure industries plummeted to an eight-month low of 0.5 per cent in April from an upwardly revised 4.6 per cent growth recorded in March, with three sectors contracting sharply, including refinery products and fertilisers, while electricity and natural gas clocked very...
Government Set To Further Intensify Outreach Programme For UPS
NEW DELHI: The Union government is set to intensify the outreach programme to encourage its employees to switch over to the new Unified Pension Scheme (UPS), which has seen a muted response since its roll-out on April 1. Teams of officials from the Pension Fund Regulatory and Development Authority...
Supreme Court Junks Pleas Of Telecom Companies On AGR Dues
NEW DELHI: The Supreme Court on Monday dismissed the pleas of telecom majors Vodafone, Airtel and Tata Teleservices seeking the waiver of adjusted gross revenue (AGR) dues. A bench comprising Justices JB Pardiwala and R Mahadevan called the pleas “misconceived”. “We are really shocked by these petitions which have...
India, Maldives Sign 13 MoUs To Implement Projects Under Indian Grant Assistance
MALE: India has signed 13 MoUs with the Maldives for enhancing ferry services in the island nation with an MVR 100 million grant, expanding maritime connectivity and uplifting community livelihoods. The MoUs signed on Sunday are for projects to be implemented under the Indian grant assistance scheme—High Impact Community...
India May Benefit From Trade Protectionism: S&P Global India Research
NEW DELHI: Changes in global trade policy would catalyse supply chain diversification to the benefit of India, which is on track to become the world’s third-largest economy by financial year 2030-31 (FY31), S&P Global India Research Chapter’s report said on Monday. While projecting India’s real GDP growth to average...
