Business
Rupee Upticks 61 Paise To Settle At 86.07 Against US$
MUMBAI: The rupee surged 61 paise against the greenback to settle at 86.07 (provisional) on Friday due to a sharp correction in the US dollar and a strong rebound in the domestic equity markets. The surge in the local unit came a day after US President Donald Trump suspended...
Equity MF, SIP Inflows Drop On Tariff Concerns
NEW DELHI: Inflow in equity mutual funds (MFs) declined to an 11-month low at Rs 25,082 crore in March primarily due to sharp redemption in sectoral and thematic funds amid continued market volatility spurred by tariff concerns. This was the third consecutive month of a decline in inflow in...
Maintain Strict Vigil On Imports, Exports Ministry Tells Customs
NEW DELHI: The commerce ministry has alerted the customs authorities to maintain strict vigilance on imports and exports amid concerns about possible dumping of goods and re-routing of consignments from India to third countries following imposition of high tariffs by the US on China, an official said. As sweeping...
India Eyes Trade Pact Push As US Pauses Reciprocal Tariffs For 3 Months
NEW DELHI: With US President Donald Trump “temporarily suspending” country-specific reciprocal tariffs until July 9, India sees the three-month window as an opportunity to renew its push for a proposed bilateral trade agreement (BTA) with the US and expedite finalisation of the first tranche of the trade deal. “The...
India Eyes Export Gains As US-China Trade War Opens Market Opportunities
NEW DELHI: The commerce and industry ministry has begun work on identifying export opportunities emanating from the US-China trade war even as officials said that the 90-day reprieve to the Indian exporters would give them and their overseas buyers time to share the burden of additional 10% tariffs with...
Moody’s Cuts India GDP Growth Forecast To 6.1% For 2025
NEW DELHI: International research firm Moody’s Analytics has revised down India’s GDP growth forecast to 6.1% in 2025 from 6.4% in its March baseline, prompted by stiff new tariffs and tariff threats from the US. This anaylsis, however, was conducted before the US reciprocal tariffs were put in abeyance...
Retail Loans By NBFCs Set To Get Cheaper
MUMBAI: The non-banking financial companies (NBFCs) may soon offer retail loans at lower interest rates, following the Reserve Bank of India’s (RBI) proposal to allow co-lending in non-priority sectors such as personal loans, auto loans and others. By partnering with banks under the co-lending model, NBFCs will be able...
Odisha, Assam, Tamil Nadu And Karnataka Steer Economic Recovery In FY20-FY25: India Ratings
NEW DELHI: Odisha, Assam, Tamil Nadu and Karnataka were among the major states which spearheaded India’s recovery from pandemic lows during FY20- FY25, by witnessing a CAGR of over 6% in gross state domestic product (GSDP), India Ratings said in a report. India Ratings analysis of the latest GSDP...
RBI Slashes Repo Rate By 25 Basis Points To 6 Per Cent, Shifts Stance To ‘Accommodative’
MUMBAI: The six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) on Wednesday unanimously lowered the policy repo rate by 25 basis points to 6 per cent, marking a second consecutive cut. It also changed its policy stance to “accommodative”, signalling the likelihood of further easing...
ADB Revises India’s FY26 Growth Forecast To 6.7 Per Cent Amid US Tariff Risks
NEW DELHI: The Asian Development Bank (ADB) has revised downwards India’s GDP growth forecast for the financial year 2025-26 (FY26) to 6.7 per cent from the earlier 7 per cent in its April 2025 latest outlook report. “A major risk arises from US tariff levies on India’s and other...
RBI Expands Scope Of Co-Lending Arrangements To All Regulated Entities
MUMBAI: All regulated entities can now take part in colending, whose scope will extend beyond segments covered under priority-sector lending (PSL), according to the Reserve Bank of India (RBI). Banks can enter into such arrangements with one another and not just with non-banking financial companies (NBFCs). Similarly, an NBFC...
Lower Crude Prices To Make Monetary Policy More Accommodative: CEA
NEW DELHI: Lower crude oil prices is likely to moderate inflation, creating space for more monetary policy accommodation, chief economic adviser V Anantha Nageswaran said on Wednesday. The Reserve Bank of India on Wednesday cut interest rates by a quarter point and shifted from neutral to accommodative policy stance....
Govt To Amend Aadhaar Law To Align With Data Privacy Act
NEW DELHI: The government plans to amend the Aadhaar Act, 2016, to harmonise it with the Digital Personal Data Protection (DPDP) Act, 2023. Electronics and IT minister Ashwini Vaishnaw has urged the Unique Identification Authority of India (UIDAI), which manages Aadhaar to plug the loopholes in the law once...
REC Limited signs MoU with MMRDA
MUMBAI: REC Limited, a Maharatna CPSU under the Ministry of Power and a prominent NBFC, has entered into a Memorandum of Understanding (MoU) with the Mumbai Metropolitan Region Development Authority (MMRDA) to provide financial support of `1 lakh crore for infrastructure development in the Mumbai Metropolitan Region (MMR). The...
No Set Level On Rupee-Dollar Exchange Rate: RBI Chief
MUMBAI: Reserve Bank Governor Sanjay Malhotra on Wednesday said the central bank does not target any level or band for the rupee-dollar exchange rate, but intervenes in forex market only when there is excessive volatility. Talking to reporters after the announcement of the April monetary policy, the Governor said...
Rupee Goes Lower Amid Global Turmoil
MUMBAI: The rupee extended its losing streak for the fourth straight session and settled 45 paise lower at 86.71 (provisional) against the US dollar on Wednesday, amid escalating tariff turbulence globally even as the Reserve Bank reduced key interest rate by 25 basis points as a growth-stimulus measure. Even...
India, Nepal Sign Pact, To Focus On Crop Production
KATHMANDU: India and Nepal on Wednesday signed an agreement to enhance cooperation in the field of agriculture and further deepen the partnership between the two countries. The agreement was inked by Agriculture and Farmers Welfare Minister Shivraj Singh Chouhan and Nepal’s Minister for Agriculture and Livestock Development Ram Nath...
Chinese President Xi Jinping Pledges To Strengthen Ties With Neighbours Amid Trump’s Tariff War With China
BEIJING: Chinese President Xi Jinping on Wednesday pledged to strengthen the strategic relationships with neighbouring countries by “appropriately” managing differences and enhancing supply chain ties as China’s tariff war with the US escalated. In his first public speech after US President Donald Trump’s steep global hike of tariffs, especially...
