Business
RBI May Cut Interest Rates Further By 50 Basis Points In 2025, Stance To Turn Accommodative: Report
NEW DELHI: The Reserve Bank of India (RBI) may cut interest rates further by 50 basis points (bps) in 2025 and shift its stance from “neutral” to “accommodative,” according to a report by Bank of Baroda. The report suggested that the central bank has entered a rate-cut cycle, and...
Government Looking At Procedural Easing To Further Promote FDI
NEW DELHI: The government is looking at further easing of procedures in certain sectors to attract more foreign direct investments (FDI) into the country, a government official said. The department for promotion of industry and internal trade (DPIIT) has held stakeholder consultations with different government departments, regulators, industry associations,...
Ministry of DoNER Working With Amazon, Two Other Companies To Boost Bamboo Market
CHENNAI: The Ministry of Development of North East Region would explore the market opportunities for Bamboo in domestic and overseas markets and it was working with Amazon and two other companies in this connection, a senior government official has said. Besides promoting Bamboo locally, the Ministry would also look...
Saudi’s USD 63-Billion Giga Project Diriyah Sees Keen Interest From Indian Investors
NEW DELHI/DAVOS: Several Indian firms have shown a keen interest in investing in Diriyah, a $ 63-Billion Saudi Arabian giga project, while some big names like Tatas and Oberois having already signed up, its CEO Jerry Inzerillo said. Diriyah, being billed as the City of Earth, is being built...
Significant Reduction In Gold Smuggling Post July Import Duty Cut, Says CBIC Chief
NEW DELHI: Gold smuggling has reduced significantly since July 2024 when the government slashed import duty on the precious metal to 6 per cent, Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Kumar Agarwal said. As per the latest available data, Customs and DRI officers seized 847...
Increase in MSME Financing Right Step To Boost Biogas Industry: IBA
NEW DELHI: Indian Biogas Association (IBA) on Sunday said the proposed increase in MSME financing in the General Budget 2025 is a right step to boost biogas industry. With a strong push for manufacturing, green energy, and digital transformation, this Budget sets the stage for Aatmanirbhar and Viksit Bharat,...
Markets To Track Inflation Data, Global Trends This Week: Analysts
NEW DELHI: Investors would track a host of macroeconomic data announcements scheduled this week, including inflation numbers, and also monitor global market trends, and trading activity of foreign institutional investors, analysts said. The ongoing quarterly earnings announcements and the rupee-dollar trend would also influence the markets. “This week is...
RBI Cuts To The Chase – First Rate Cut In Five Years; FY26 GDP Growth Seen At 6.7%; Inflation At 4.2%
MUMBAI: In his first monetary policy statement, Reserve Bank of India (RBI) governor Sanjay Malhotra made his preference for a “less restrictive” approach loud and clear. The predictable 25 basis points cut in the repo rate – a first in nearly five years – was just one part of...
India Slashes Income Taxes And Rates, But Modi Govt Has To Convince Investors
NEW DELHI: Prime Minister Narendra Modi is counting on a two-pronged stimulus of tax and interest rate cuts to turn around India’s slowing economy, but investors may need more convincing that the measures will be enough. The decision by India’s central bank on Friday to reduce its key rate...
Households Expect Inflation To Moderate; Consumer Confidence Dips
MUMBAI: Indian households expect moderation in inflation for the near term while consumer confidence declined marginally due to somewhat tempered sentiments, according to the Reserve Bank of India’s (RBI’s) forward-looking surveys in January 2025. Inflation expectations showed an upward trajectory for three months and one-year ahead period. Reflecting confidence...
Union Cabinet Approves Rs 8,800 Crore To Boost Skill India Programme
NEW DELHI: The Union Cabinet on Friday approved continuation and restructuring of the ‘Skill India Programme (SIP)’ till 2026 with an outlay of Rs 8,800 crore from the period of 2022-23 to 2025-26. Three components — Pradhan Mantri Kaushal Vikas Yojana 4.0 (PMKVY 4.0), Pradhan Mantri National Apprenticeship Promotion...
Indian Oil Refiners Knock On Doors Of Middle East Suppliers
NEW DELHI: Indian refiners are caught between dwindling discounted Russian supplies and higher Saudi oil prices, which would push up their crude cost and weigh on margins. To replace Russian barrels that are hard to come by after last month’s US sanctions on two Russian oil producers and about...
Israel’s Minister Of Economy And Industry To Lead Largest Multi-Sectoral Business Delegation To India Next Week
JERUSALEM: Israel’s Minister of Economy and Industry, Nir Barkat, will be leading the largest business delegation from the country to India next week to boost bilateral trade in what would be his third official visit to New Delhi. The two-day visit starts next week on Monday. Barkat will also...
8.59 Crore Hospital Admissions Worth Rs 1.19 Lakh Crore Authorised Under Ayushman Bharat Scheme
NEW DELHI: Union Health Minister J P Nadda on Friday informed the Lok Sabha that a total of 8.59 crore hospital admissions worth Rs 1.19 Lakh Crore have been authorised under the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) as on January 1, Union Health Minister J P Nadda...
Exchange Rate Policy Consistent, No Target On Rupee Level: RBI Governor
MUMBAI: Reserve Bank Governor (RBI) Sanjay Malhotra on Friday said the exchange rate policy has remained consistent over the years and the central bank does not target any ‘specific level or band’ of the Rupee, which slipped to an all-time low of 87.59 to a US dollar. On Thursday,...
Banks To Have ‘Bank.In’ Internet Domain Name: RBI
MUMBAI: In order to check cyber security threats, the Reserve Bank of India (RBI) on Friday decided that Indian banks will have exclusive internet domain name ‘bank.In’ and non-bank financial entities ‘fin.In’. Unveiling the last bi-monthly monetary policy of this fiscal year, RBI Governor Sanjay Malhotra said registrations for...
PhonePe Exits Account Aggregation Business
NEW DELHI: Country’s largest fintech firm PhonePe on Friday said it has exited from account aggregation business as it could not add enough partners to provide services as per its expectation. The company said that it has decided to surrender NBFC-AA licence to the Reserve Bank of India (RBI),...
Government Weighing “Full Impact” Of US Tariffs On China
NEW DELHI: The government will assess any positive or negative implications for India from the tariffs that have been imposed by the US on China, a senior official said on Thursday. Though the duties on China are prima facie expected to boost exports from India to the US due...
