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NEW DELHI: India’s retail inflation eased further to a 12-month low of 4.75% in May but food inflation remained elevated and almost unchanged at 8.69%, data released on Wednesday showed. The simultaneously released Index of Industrial Production (IIP) showed a sedate start for the economy in the new fiscal...
NEW DELHI: India has slipped two places on the World Economic Forum’s Global Gender Gap index to 129th place, while Iceland retained its top position in the rankings published on Wednesday. Within South Asia, India was ranked fifth after Bangladesh, Nepal, Sri Lanka and Bhutan, while Pakistan was ranked...
NEW DELHI: In a bid to secure critical mineral processing technology, the Ministry of Mines has initiated bilateral meetings with Russia, Business Standard has learned. The initiative aims to secure advanced technologies essential for the extraction and processing of key minerals, which are vital for various high-tech, automotive, and...
MUMBAI: The Indian Banks’ Association (IBA) will request the Reserve Bank of India (RBI) to maintain status quo on the provisioning required under the new project finance guidelines, and keep it unchanged at 0.4%. In a meeting held on Tuesday, bankers have stressed that raising provisioning would deter lenders...
Public-sector behemoth Steel Authority of India Ltd (SAIL) has firmed up plans to build a state-of-the-art steel plant at Burnpur for ₹36,000 crore, which promises to be the single-largest investment in an industrial project in Bengal in recent times. The central PSU has received the initial board approval for...
New Delhi: Italy, which has invited Prime Minister Narendra Modi for the G7 Summit Outreach Sessions, is India’s fourth largest trading partner in the European Union, 18th largest foreign investor with bilateral relations upgraded to the level of ‘Strategic Partnership’ with focus on defence, Indo-Pacific, energy and science and...
NEW DELHI: India, the world’s third biggest oil importer and consumer, will in the second half of the decade become the driver of global oil demand, the International Energy Agency (IEA) said Wednesday, forecasting rise in consumption by a massive 1.3 million barrels between 2023 and 2030. In its...
NEW DELHI: Government measures such as mandatory quality control orders and increasing customs duty have helped boost exports of toys from India, but there is a need to do much more for the sector, a top official said on Wednesday. Secretary in the Department for Promotion of Industry and...
NEW DELHI: Regulator Irdai on Wednesday said the facility of policy loan is now mandatory in all life insurance savings products, enabling policyholders to meet liquidity requirements. Issuing a master circular which consolidates all regulations with regards to life insurance policies, the Insurance Regulatory and Development Authority of India...
NEW DELHI: A day after the government announced its plan to construct 30 million houses under the Pradhan Mantri Awas Yojana (PMAY), it is weighing more measures as part of its 100-day agenda as well as the medium-term road map to signal its rural focus, people aware of the...
NEW DELHI: The World Bank on Tuesday retained its growth forecast for India at 6.6 per cent for FY25. “India will remain the fastest-growing of the world’s largest economies, although its pace of expansion is expected to moderate. After a high growth rate in FY 2023/24, steady growth of...
NEW DELHI: States’ capital expenditure likely rose by over a quarter in 2023-24 compared with a 18% rise in 2022-23. This was supported by the Centre’s interest-free loans to them and the states’ own robust revenue growth. A review of the finances of 24 states by FE, showed that...
MUMBAI: The Insurance Regulatory and Development Authority of India (IRDAI) on Tuesday announced several customer-centric measures including asking every general insurance company to offer a basic insurance product with essential minimum coverage, which will be clearly displayed on their website. This will allow customers to compare it with other...
NEW DELHI: To increase coal availability to the non-regulated sectors (NRS) like cement, steel, sponge iron and captive power units, the Union coal ministry is planning to provide them with long-term linkages, without end-use restrictions. The plan is to modify the policy guidelines for NRS coal linkages issued in...
MUMBAI: An Air India Express staff union has claimed the airline has issued charge sheets against 200 cabin crew members for reporting sick last month when the carrier faced significant disruptions. The Air India Express Employees Union (AIXEU) has termed the airline’s move as unfortunate and unfair labour practice....
MUMBAI: Ras Al Khaimah, one of the seven emirates in the UAE, is eyeing over 20 per cent growth in tourist arrivals from India with targeted marketing campaigns and addition of new hotels, the emirate’s Tourism Development Authority CEO Raki Phillips has said. “In 2023, we saw a significant...
NEW DELHI: Union Minister Ashwini Vaishnaw on Tuesday said the government will push ahead with its tech-driven agenda of cementing India’s global lead in semiconductor and electronics manufacturing, and as a technology and digital hub. Taking charge of Ministry of Electronics and IT (MeitY) — a nodal ministry tasked...
NEW DELHI: Equity mutual funds witnessed a staggering growth with inflow reaching a record high of Rs 34,697 crore in May, marking a 83 per cent surge from the preceding month, propelled by contributions from thematic funds and intermittent corrections that provided buying opportunity to investors. This also marks...