Business
RBI Governor Flags Bank-NBFC Links As ‘Contagion Risk’
MUMBAI: Concentrated borrowing linkages between non-bank financiers and mainstream lenders may pose contagion risks, Reserve Bank of India (RBI) governor Shaktikanta Das said, pointing to potential sectoral fault lines a week after a concerned regulator sought to restrain the recent runaway growth in unsecured advances and safeguard the broader...
BMS-Backed Union Stages Protest Demanding Restoration Of Old Pension Scheme
NEW DELHI: Members of the Government Employees National Confederation (GENC) on Wednesday staged a protest, at Jantar Mantar in New Delhi, demanding scrapping of the National Pension System (NPS) and restoration of the Old Pension Scheme (OPS). The protest by GENC — affiliated to the Bharatiya Mazdoor Sangh (BMS),...
NBFCs Likely To See Assets Growth Moderating To 16-18% In FY24: CRISIL
NEW DELHI: The growth in the country’s NBFC sector is expected to be moderately lower than 16-18 per cent in the current fiscal because of relatively slower expansion on unsecured retail loans due to the recent regulatory measures issued by the RBI, CRISIL Ratings said on Wednesday. Assets Under...
India-Asean Trade Pact Review: India Pitches For Tighter Rules Of Origin
NEW DELHI: The review of Asean-India Trade in Goods Agreement (AITGA) will start with discussions on making the Rules of Origin (ROO) more comprehensive and detailed, as New Delhi is keen to remove the scope for exporters from third countries to exploit the preferential tariffs, a senior official said....
M&A Activity Falls To $14.58 Billion In 2023, Lowest In 12 Years
MUMBAI: Hit by a dearth of big-ticket deals, India’s merger and acquisition (M&A) activities fell 6.24 times to $14.58 billion in calendar year 2023 (YTD), its lowest in the past 12 years. While geopolitical developments have played their part, the deal-making scenario continues to be restrained for the rest...
14-Nation Agreement On Supply Chain Resilience Opens Doors For India
The Indo-Pacific Economic Framework’s (IPEF) Supply Chain Resilience Agreement (Pillar 2) is probably the fastest-concluded plurilateral economic cooperation agreement, which Commerce Minister Piyush Goyal signed on November 14. India along with 13 other countries (Australia, Brunei Darussalam, Fiji, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand,...
FDI Equity Inflows Contracted 24% In First Half Of FY24, Shows Data
NEW DELHI: Foreign direct equity investments into India fell by 24 per cent to $20.5 billion during the first six months of the financial year 2023-24 in comparison to a year earlier, according to data released by the industry department on Tuesday. While the government did not officially cite...
New Protocols Soon To Boost Shipments Of Fruits, Vegetables Via Sea
NEW DELHI: Despite the ban on wheat and restrictions on rice exports, India’s overall food exports are still going strong on the back of strong pick-up in shipments of fruits and vegetables. The government is developing protocols for transport of these products through sea to grab a larger share...
New Coal-Fired Power Plants May See Easier Lending Norms
NEW DELHI: The government is looking at easing lending norms for new coal-fired power stations as it doubles down on the most-polluting fuel to meet a sharp uptick in electricity demand, amid reports that France and the US are preparing to propose a ban on private funding for coal...
Banks Seek ITR Access Via NSDL To Vet Borrower Info
NEW DELHI: Lenders have asked the government for access to income tax returns through National Securities Depository (NSDL) to help validate declarations made during loan applications, people familiar with the development told ET. Banks speak of multiple instances when applicants have declared inflated or fake income details with forged...
Rules Of Origin For Medical Sector Remains Sticking Point In India-UK FTA
NEW DELHI: Finalising the rules of origin for the medical devices sector remains a sticking-point in the proposed free-trade agreement (FTA) between India and the UK and the talks are on to iron out the differences, an official said. Huge potential is there in the medical devices sector in...
Retail Inflation For Agricultural, Rural Workers Marginally Up In October
NEW DELHI: Retail inflation for agricultural labourers and rural workers rose marginally to 7.08 per cent and 6.92 per cent in October, respectively, from 6.70 per cent and 6.55 per cent respectively in September 2023 due to higher prices of certain food items. Point to point rate of inflation...
Demand For Workspaces Eases On Global Downturn; Shift To Office Holds Hope
BENGALURU: The net leasing of Grade-A commercial office space in India will stagnate this financial year at 32-34 million square feet, with global uncertainties brewing caution among key tenant categories, according to the latest Crisil Ratings report. Major seven cities in India – Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan...
GDP Growth To Rise To 6.5 Per Cent In FY25: Goldman Sachs
NEW DELHI: India’s real GDP growth will rise to 6.5% in 2024-25 from an estimated 6.2% in 2023-24, aided by the government’s pre-election spending in the first half of 2024 and private investment in the later half, global investment firm Goldman Sachs said in a report on Monday. On...
Net Exports Likely A Growth Push In Q2 Despite Drop In Goods Shipments
NEW DELHI: Net contribution of India’s foreign trade to its Gross Domestic Product (GDP) may have been positive in July-September FY24 quarter, despite merchandise exports shrinking in the period on a year on year basis, economists said. While in Q4F23 net exports helped boost the GDP, it dragged it...
India Must Protect Autonomy Post IPEF Deal, Says GTRI
NEW DELHI: Negotiation phase for India is practically over at the Indo-Pacific Economic Framework for Prosperity (IPEF) with agreement on supply chains already signed and talks almost over on clean and fair economy. It must move cautiously now to protect space for the domestic policy action, according to a...
UK Stance On Agri GI Items Remains Hurdle In FTA Talks With India
NEW DELHI: The UK’s demand of a higher level of protection for its GI products from the agriculture sector under the proposed free trade agreement (FTA) with India remains an unresolved issue as the talks for the pact are on to iron out differences, an official said. British GI...
IoT Stack On Lines Of Aadhaar, UPI In The Works
NEW DELHI: After the success of digital public infrastructure (DPI) such as Aadhaar, Unified Payments Interface (UPI), DigiLocker, etc, the government is planning a homegrown Internet of Things (IoT) stack based on open source tools and software. The plan, officials say, is to come up with a low-cost and...
