Business

RBI To Meet Banks To Examine Grey Areas In Overseas Investment Rules

MUMBAI: The Reserve Bank of India (RBI) will meet banks to sort out the grey areas in overseas investment (OI) regulations which have stalled the plans of several wealthy Indians, business families, and startups from taking exposures to foreign securities, funds and companies. Can a resident individual subscribe to...

Feb 22 · >

India’s GDP Growth To Moderate To 6.5% In FY25, Projects Morgan Stanley

NEW DELHI: Morgan Stanley Research said on Wednesday that it expects India’s GDP growth for FY25 to moderate to 6.5 per cent from 6.9 per cent projected for FY24. ICRA, meanwhile, has projected the year-on-year (Y-o-Y) GDP growth to moderate sequentially to 6 per cent in Q3 FY24 from...

Feb 22 · >

IRDAI To Introduce Collaterals For Reinsurance Transactions With CBRs

MUMBAI: The Insurance Regulatory and Development Authority (Irdai) is planning to introduce collaterals for reinsurance transactions with Cross Border Reinsurers (CBR). The proposed guidelines given in an exposure draft will be applicable for all the reinsurance placements with CBRs by cedants or insurers from India, for reinsurance programmes from...

Feb 22 · >

India To Pip China As Top Member Of World Trade Centers Association: Chairman

India is poised to overtake China as the largest member of the World Trade Centers Association (WTCA) in the next five years, its chairman said, underscoring a hitherto circumspect New Delhi’s rapid global strides that neatly dovetail into a China-plus-one corporate sourcing strategy aimed at derisking supply chains across...

Feb 22 · >

Government & Financial Regulators Discuss Uniform KYC Norms

NEW DELHI: Finance minister Nirmala Sitharaman on Wednesday met financial sector regulators where a key item on the agenda was uniform KYC norms, an issue which has remained under discussion for long but has not been implemented. The idea is to implement a seamless KYC system, like the mutual...

Feb 22 · >

India Must Focus On Exports To Achieve 10 Per Cent Economic Growth: Arvind Panagariya

NEW DELHI: India must focus on exports to achieve 10 per cent economic growth, Arvind Panagariya, Chairman of the 16th Finance Commission, has said. Panagariya also said that the temptation of import-substituting industrial policy is not unique to India. “I have looked at successful countries such as…Singapore, Taiwan, South...

Feb 22 · >

India, Greece To Firm Up Migration, Mobility Agreement Soon

NEW DELHI: India and Greece on Wednesday here reviewed the entire gamut of their bilateral ties and agreed to firm up a migration and mobility agreement soon, besides ramping up their overall cooperation in the areas of trade, defence production and to combat terrorism. These were the main takeaways...

Feb 22 · >

Indonesia Eyes 1.2 Million Indian Visitors With Visa-Free Access, Extra Flights

MUMBAI: The Indonesian Tourism Ministry hopes to double Indian tourist arrivals to 1.2 million in 2024 with additional flights and a proposed visa-free entry scheme. Last year, Indonesia received 11.7 million tourists from around the world, which was 98 per cent higher compared to 2022. This included 6,10,000 Indian...

Feb 22 · >

India Exported $6.65 Billion Oil Products Derived From Russian Oil To Sanctioning Nations: Report

Over one-third of India’s export of oil products to the G7-led coalition countries was derived from Russian crude, a European think-tank said, highlighting how the partners shunned buying Russian crude and imposed price caps but a loose policy on refined product allowed third countries to use Russian oil and...

Feb 22 · >

Break-Even And Stabilisation Of NMDC Steel Plant Likely By Q2-FY25

NEW DELHI: NMDC is expecting “stabilisation” and “break-even” of its recently-commissioned steel plant, NMDC Steel Ltd (NSL) — now a separate listed entity — by mid-FY25. Break-even is expected as production at the Nagarnar plant (Chhattisgarh) remains consistent at around 1.6-1.8 lakh tonne per month (of crude steel) or...

Feb 22 · >
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