Business
FM Bats For Common KYC, Reducing Unclaimed Assets
NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday asked the Financial Stability and Development Council (FSDC) to focus on a common ‘know your customer’ (KYC) regime, reduce unclaimed assets, and expedite refunds of unclaimed amounts across the financial sector and promote financial inclusion. The comments came at the 29th...
Equity Mutual Fund Inflows At 13-Month Low
MUMBAI: Inflows into mutual fund equity schemes in May hit their lowest levels in 13 months at Rs 19,013 crore. The May inflows were down 22% month-on-month, according to data from the Association of Mutual Funds in India (Amfi), with investors staying cautious despite stocks rebounding from their March...
Land, Urban Planning Among Key Reforms Required For Capex Loans
NEW DELHI: Digital public infrastructure for agriculture, efficiency in financial management, urban planning and land-related reforms are among the conditions for states to qualify for tied component of 50-year interest-free capex loans from the centre. A total of Rs 52,000 crore is earmarked for release to states if the...
Foreign Flows Stay Muted As Bond Yields Rise After Monetary Policy
MUMBAI: Bond markets have entered a phase of profit-taking as investors reassess their positions amid concerns about a prolonged pause in policy rates by the Reserve Bank of India (RBI). On Monday, the 10-year G-Sec closed higher at 6.28%, up 5 basis points (bps) from its Friday’s close of...
NHAI Plans Public InvIT, TOT Revamp
NEW DELHI: For the first time, retail investors will become equity holders in highway assets owned by the National Highway Authority of India (NHAI), as it seeks to tap the monetisation route more aggressively. The principal state-run highway construction agency is planning to launch a “public” infrastructure investment trust...
Rethink Auction, Fast-Track Exploration: Industry To Government
NEW DELHI: In November 2023, India started auction of critical minerals, and in March this year, the country also saw the first-ever auction of exploration licences for rare earth, zinc, diamond, copper, and platinum-group elements. Also, the first-ever auction of undersea mineral reserves took place in November 2024. The...
RBI Looks At Tighter Rules To Curb Mis-Selling Of Financial Products
MUMBAI: RBI may introduce tighter regulations to curb mis-selling of financial products, especially in cases where customer suitability and appropriateness are overlooked. “It is concerning that such mis-selling without regard to suitability and appropriateness would beget distrust in schemes aimed at providing a safety net,” said RBI deputy governor...
Agri Yield Could Drop 25 Per Cent Due To Climate Change: Study
NEW DELHI: India’s agriculture sector could face up to 25% yield losses due to climate-related disruptions, according to a new report by a farmers’ body. It called for targeted policy action to improve adoption of climate-resilient technologies among small and marginal farmers, according to a report by a farmers’...
Bank Of Baroda Sees May Inflation At 2.7 Per Cent
As the Reserve Bank of India (RBI) is set to announce its decisions after the 55th meeting of the Monetary Policy Committee today, Bank of Baroda (BoB) said consumer price index (CPI) inflation could come in at 2.7% in May, sharply lower than 3.16% registered in April. This follows...
MDR Levy On UPI Coming, Waiver Likely For Small Transfers
NEW DELHI: After months of dithering, the government may allow banks to levy merchant discount rate (MDR) charges on UPI transactions beyond a threshold. The move is in the wake of the need being felt to compensate banks and and payment service providers for their operational costs and investments...
India, Italy Get Into A Huddle Over Critical Mineral Squeeze
BRESCIA: India and Italy Thursday cautioned against some countries’ dominance on critical minerals and how the over-dependence on these key components of semiconductor, aerospace industry and EV batteries can be reduced. Commerce and industry minister Piyush Goyal said the concentration of critical minerals and their supply chains in a...
Finance Minister To Review Economy At FSDC Meeting On June 10
NEW DELHI: Finance Minister Nirmala Sitharaman is set to review the state of the economy amid global uncertainties at a meeting of the Financial Stability and Development Council (FSDC) on June 10. The 29th meeting of the high-level panel, to be held at Mumbai, will be attended by all...
RBI Monetary Policy Committee Meets Amidst Rate Cut Expectations
MUMBAI: The Reserve Bank of India’s (RBI) rate-setting panel started its three-day brainstorming on monetary policy as expectations are high of a 25 bps or even a jumbo 50 bps rate cut to fuel economic growth amid uncertainties created by Trump’s tariff moves. The decision of the Monetary Policy...
Services Sector Growth Steadies In May On Healthy Demand Conditions
NEW DELHI: The Indian services growth broadly steadied in May and was underpinned by healthy demand conditions, new client wins and greater staffing capacity, a monthly report said on Wednesday. The HSBC India Services PMI Business Activity Index was at 58.8 in May, marginally up from April’s 58.7 and...
RBI Rate Cut Could Get Limited By Tariff-Led Uncertainty: ICRA
MUMBAI: Tariff-led global uncertainty may constrain the quantum of repo rate cut by the Reserve Bank of India in the current financial year, Karthik Srinivasan, Senior Vice President and Group Head, Financial Sector Ratings, ICRA said. “RBI’s call would largely be on how the domestic factors play out, but...
India Seeks Measures To Tackle Trade Distortions
PARIS: India has called for action to address trade distortions caused by non-market economies, non-tariff barriers and restoration of a strong dispute settlement mechanism at the World Trade Organization (WTO), commerce and industry minister Piyush Goyal said on Wednesday. The minister, however, insisted that one should not jump to...
India’s Economy May Grow 6.3% In Fy26, 6.4% Next Fiscal: OECD
NEW DELHI: India’s economy is projected to grow by 6.3% in 2025-26 and 6.4% in 2026-27, the Organisation for Economic Cooperation and Development (OECD) said on Tuesday. It forecast global growth to slow to 2.9% in 2025 and 2026 due to substantial barriers to trade, tighter financial conditions, diminishing...
India, EU May Go For Comprehensive FTA; Investment, GI Pacts To Follow Later
PARIS: India and the European Union (EU) are now aiming for a comprehensive Free Trade Agreement (FTA) rather than an interim deal, and is working against a tight deadline to conclude it. Stating that the plan is to sign a “full-scale FTA,” an official said a lot of progress...
