NEW DELHI: The Rs 3/litre hike in petrol and diesel prices could push retail inflation up by nearly 15 basis points in the short term, economists said. They expect more such price increases over the next few weeks, as oil marketing losses of oil marketing companies remained to be...
NEW DELHI: The finance ministry has approved Dubai-based Emirates NBD Bank’s proposal to acquire up to 74 per cent stake in private sector lender RBL Bank, PTI reported citing a regulatory filing on Friday. RBL Bank said Emirates NBD Bank (P.J.S.C) has received a letter from the Department of...
NEW DELHI: Led by a steep rise in energy prices amid the ongoing West Asia crisis, India’s wholesale price index (WPI)-based inflation rate more than doubled to a 42-month high of 8.3 per cent in April from 3.88 per cent in March, according to data released by the Ministry...
MUMBAI: The rupee hit a fresh intraday low of 95.96 per dollar on Thursday amid aggressive demand for the greenback among importers, and maturing of offshore non-deliverable forward (NDF) positions, dealers said. The rupee later recovered sharply to around 95.58 after reports emerged that the government was considering a...
NEW DELHI: India’s fiscal deficit in FY27 may overshoot the budgeted target to some extent as the Centre is implementing a series of relief and stabilisation measures to shield citizens, farmers and businesses from the fallout of the escalating West Asia conflict, sources told FE. However, they stressed, the...
NEW DELHI: A day after hiking customs duty on gold, the government on Wednesday put limits on the quantity of yellow metal that can be imported under a key export scheme. Capping gold imports under the Advance Authorisation (AA) Scheme at 100 kilograms, coupled with tighter compliance and monitoring,...
The International Monetary Fund (IMF) on Thursday warned that continued disruptions from the Iran war are pushing the global economy closer to an “adverse” scenario marked by slower growth, tighter financial conditions and rising inflation risks, AFP reported. Last month, the IMF’s World Economic Outlook projected global growth at...
MUMBAI: State-run Power Finance Corporation, the largest non-banking lender with over Rs 12.4 trillion in assets, has reported a marginal 3 per cent increase in the March quarter consolidated net income at Rs 8,598 crore, weighed down by a fall in interest income as borrowers chose to prepay their...
NEW DELHI: The government has sharply raised import duties on gold, silver and platinum, as it looks to curb non-essential imports and shield foreign exchange reserves strained by surging crude oil and fertiliser costs amid the West Asia crisis. Under a Finance Ministry notification issued on Tuesday, Customs duty...
International crude oil prices have a bearing on India’s macroeconomy, but their impact is not seen in the same way on growth and inflation, key components of retail inflation, according to a study by Bank of Baroda. Oil-price shocks tend to show up more clearly in wholesale prices compared...
NEW DELHI: Amid mounting disruptions in global energy markets and rising risks to oil and gas supplies through the Strait of Hormuz, the Union Cabinet on Wednesday approved a ₹37,500-crore incentive scheme for coal gasification projects aimed at cutting India’s ₹2.77 lakh crore import dependence on LNG, ammonia, methanol,...
NEW DELHI: Rising crude oil prices and the possibility of diesel price hikes are beginning to cast a long shadow over India’s trucking and logistics sector, with transporters warning that even modest increases in fuel costs could sharply squeeze margins and disrupt cash flows. A new report by Crisil...
NEW DELHI: Moody’s Ratings on Tuesday slashed India’s GDP growth forecast for year 2026 by 0.8 percentage points to 6 per cent on subdued private consumption, capital formation, and industrial activity amid higher energy costs. In its Global Macro Outlook May update, Moody’s said over the next six months,...
NEW DELHI: For years, India’s corporate litigation landscape carried a reputation for delay, procedural complexity and endless appeals. Promoter disputes, allegations of financial misconduct and shareholder battles often dragged on for decades, reducing the possibility of timely justice to little more than a legal fiction. But a significant transformation...
NEW DELHI: India aims to field a military largely equipped with homegrown capabilities and capable of projecting power across the Indo-Pacific and beyond by 2047, with domestic defence production output expected to rise to six times the present level to Rs 8.8 trillion by then, while arms exports are...
NEW DELHI: Public Sector Banks (PSBs) have recorded an all-time high net profit of ₹1.98 lakh crore in 2025-26 fiscal year, marking the fourth straight year of profitability, the finance ministry said on Tuesday. Improved asset quality, healthy credit expansion and higher income contributed to improved profitability of PSBs...
MUMBAI: In a consultation paper released on Tuesday, Securities and exchange board of India (SEBI) proposed higher position limits (maximum number of contracts that can be held) at client level in agricultural commodity derivatives segment. The position limits were proposed to be revised from 1% of the deliverable supply...
NEW DELHI: With India signing a series of free trade agreements with developed countries, the government is working on an FTA utilisation plan to help maximise benefits from these pacts, an official said. Since 2021, India has finalised free trade agreements (FTAs) with Mauritius, Australia, the UAE, Oman, New...