Business
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...
India’s Imports Of Russian Oil Hit 10-Month High In May
NEW DELHI: India’s imports of Russian crude oil surged to a 10-month high of 1.96 million barrels per day in May, driven by continued availability at significant discounts compared to global benchmark prices, according to ship-tracking data from Kpler. India, the world’s third largest oil importing and consuming nation,...
Global Economic Uncertainty Not To Affect Indian Banks’ Asset Quality: Moody’s
Despite global uncertainties and trade tensions, asset quality of Indian banks is expected to remain steady as domestic economic conditions remain supportive for growth, global rating agency Moody’s said in a report on Tuesday. “Government capital expenditure, tax cuts for middle-class income groups to boost consumption and monetary easing...
India Should Open Way For Developing Nations: WTO
PARIS: While acknowledging unprecedented disruption of multilateral trading system, WTO chief Ngozi Okonjo-Iweala on Tuesday raised the issue of China-backed investment facilitation. While India is opposing this, Okonjo-Iweala wants New Delhi to support the move. “We spoke about issues of reform, about issues that India is interested in, like...
Manufacturing PMI Drops To Three Month Low Of 57.6 In May
NEW DELHI: India’s manufacturing activity highlighted the weakest improvement in operating conditions since February with the seasonally adjusted HSBC India Manufacturing Purchasing Managers Index (PMI) falling from 58.2 in April to 57.6 in May. The headline figure was nevertheless well above both the neutral mark of 50.0 and its...
Marginal Adverse Impact On Vegetable Crop From Early Monsoon, May Rains
NEW DELHI: The early arrival of the southwest monsoon coupled with hugely surplus rains month in Maharashtra, Karnataka and Gujarat last month has had a marginal adverse impact on the horticultural crops such as onion and tomato. But overall horticulture production being robust, the agriculture-sector value addition in the...
Thermal Power Investments On The Upswing After Long Torpor
NEW DELHI: A renewed push to thermal power seems to have finally ended sluggishness in the sector. While the pace of construction has accelerated for a clutch of units including ultra super critical ones, state-run NTPC and leading private players such as Adani Power, Tata Power have scaled up...
State-Run General Insurers May Need Rs 17,000-Crore Capital To Meet Solvency Norms In FY26: ICRA
The three public sector general insurers, excluding New India Assurance, may require a capital infusion of Rs 15,200-17,000 crore by March 2026 to meet the regulatory solvency ratio of 1.50x, given their weak profitability, according to Icra. The solvency ratio measures an insurer’s ability to meet its long-term obligations...
