Business
Bad Loan Ratios Fall To Record Lows In Q3 With GNPA At 1.9%, NNPA At 0.4%
MUMBAI: With banks continue to clean up their balance-sheets, both gross as well as net NPAs have come down to the lowest levels on record at 1.9% and 0.4% respectively in the December quarter. This comes on the back of steady improvement in key pain areas, with retail loan...
India & Canada To Finalise Trade Pact Terms In March
NEW DELHI: India and Canada are likely to finalise the Terms of Reference (TOR) of the Comprehensive Economic Partnership Agreement (CEPA) during the visit of Canadian Prime Minister Mark Carney’s visit to India early next month. The ToR establishes the framework, scope, objectives, and procedures for the negotiations. The...
India, France Elevate Ties To A ‘Special Global Strategic Partnership’
NEW DELHI: India and France on Tuesday elevated their ties to a “special global strategic partnership”, with Prime Minister Narendra Modi and French President Emmanuel Macron concurring that deepening cooperation between Paris and New Delhi represents “a partnership for global stability and global progress in today’s turbulent world”. Macron,...
Farm And Processed Food Exports Rise A Modest 3.3 Per Cent In April-January
NEW DELHI: India’s exports of agricultural and processed food products rose by a modest 3.3% year-on-year to $20.99 billion during the April-January period of the current fiscal, as rice, which has the biggest share in the country’s agri-products exports basket, declined due to geo-political factors. The value of rice...
India Emerges Principal Gainer Among Leather Exporters To EU: CareEdge
NEW DELHI: India’s leather industry has emerged as the “principal gainer” among leather-exporting nations to the European Union following the recent trade pact, which saw the tariffs cut to zero from 17% earlier, CareEdge Ratings said. The rating agency said the cost competitiveness of labour-intensive Indian leather and footwear...
Oil Firms’ Refinery Margins May Cool To $6-8 Per Barrel
NEW DELHI: After three years of blockbuster margins fuelled by ultra-cheap Russian crude, the country’s refining sector is moving into a new — and tougher — earnings cycle. Gross refining margins (GRMs), which touched record highs during the peak of geopolitical supply disruptions, are now expected to cool and...
IBBI Draft Norms Aim To Fix Gaps In Resolution Process
NEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) has proposed a series of changes in the insolvency rules that will plug gaps in insolvency costs and the treatment of delayed claims in addition to bringing in more transparency in the approval of resolution plans by the committee...
Wholesale Inflation Climbs To 10-Month High Of 1.8 Per Cent In January
NEW DELHI: India’s factory-gate inflation, measured by the wholesale price index (WPI), rose to a 10-month high of 1.81 per cent in January, driven by a pickup in food prices and higher core inflation, data released by the Ministry of Commerce and Industry showed on Monday. After remaining flat...
Goods Trade Deficit Rises To $35 Billion In January As Gold Imports Surge 350%
NEW DELHI: India’s merchandise trade deficit widened sharply to $35 billion in January, up from $24 billion in December, driven by a surge in gold and silver imports and a 23 per cent decline in exports to the US. Merchandise exports during January remained largely flat at $35.56 billion,...
Stopping Russian Oil Buy Has Serious Fiscal, Inflationary Impacts: Moody’s
MUMBAI: Stating that the almost-fully one-sided trade-deal with the US appears to plaster over the breakdown in bilateral relations and the lack of details means that the Indo-US relationship is far from repaired, economists at Moody’s Analytics have warned that completely stopping Russian oil will have serious fiscal and...
Retail Market Expected To Double To INR 210-215 Lakh Crore In 2035: Report
NEW DELHI: India’s retail market is expected to more than double to INR210-215 lakh crore in 2035 from INR90-95 lakh crore in 2025 as the country continues to outperform major global economies and is on track to become the world’s third largest economy, according to a report released on...
Draft Rules Seek Mandatory Reporting Of Offshore Related-Party Rupee-Forex Deals
MUMBAI: The Reserve Bank of India (RBI) on Monday issued draft directions to widen reporting obligations for Authorised Dealer Category-I (AD Cat-I) banks, requiring disclosure of overseas related-party foreign exchange derivative transactions involving the Indian rupee. The central bank said AD Cat-I banks would be required to report all...
Economists Expect Retail Inflation To Be 35-50 Basis Points Lower In New CPI Series
MUMBAI: Economists expect FY27 headline inflation to be 35-50 bps lower than the RBI forecast in FY27 due to the higher weight given to core inflation and the marginally lower weight given to the food basket, which in the old series had the highest weight of over 42%, in...
RBI Draft Mandates 60% C/D Ratio For Rural And Semi-Urban Branches
MUMBAI: Banks have been mandated to have a credit-deposit (CD) ratio of 60 per cent for their rural and semi-urban branches in the country, according to the regulator’s draft revised guidelines on the lead bank scheme (LBS). The norms, laid down by the Reserve Bank of India (RBI), have...
Electronics Sector Must Shift From Assembling To Component Manufacturing: NITI Aayog
NEW DELHI: India’s electronics strategy must transition from assembly-led gains to component-led manufacturing, a Niti Aayog report released on Friday said. In its quarterly Trade Watch report, the government think-tank said that in order to transition to the next level of manufacturing, incentives to the sector needs to be...
April-December Inflation At 1.83% Under New CPI Series, Only Modestly Higher
NEW DELHI: The average annual retail inflation for April-December of the current fiscal year would be 1.83% under the new consumer price index (CPI) series, just 11 basis points higher than measured under the old series. The old series used 2012 as the base year, while the new one,...
India Looks For ‘Big Oil Moment’ In Andaman
NEW DELHI: For decades, India’s hydrocarbon map barely moved. Exploration stayed confined to familiar provinces while nearly a million square kilometres of sedimentary basin lay locked behind regulatory barriers. That inertia is now breaking — and the Andaman Sea is at the centre of the shift. After opening up...
New Consumer Inflation Data To Bolster Policy Responses: CEA Nageswaran
NEW DELHI: India’s new Consumer Price Index (CPI) series using 2024 as a base year, unveiled on Thursday, captures the transition in household consumption trends over the past decade with greater spends going towards services even as the share of food in domestic budgets declined, and will help fiscal...
