“The US has raised the tariff on the $200 billion of China’s exports to the US from 10 per cent to 25 per cent,” the Ministry said in a statement
Economy
PMO reviews 59-minute loan scheme, Rs 37,870 crore disbursed
New Delhi: The Prime Minister’s Office (PMO) this week reviewed the 59-minute loan scheme for micro, small and medium enterprises (MSMEs) with the Finance Ministry officials and asked them to increase disbursals. Sources said since November last year, when the scheme was launched, Rs 37,870-crore loans were disbursed till March[Read More…]
“One last chance”: SC orders RBI to disclose list of willful defaulters under RTI
New Delhi: The Supreme Court on Friday gave the RBI “one last opportunity” to disclose annual inspection reports of banks as it just stopped short of issuing a contempt notice against RBI Governor Shaktikanta Das, and ordered the Reserve Bank of India to diclose the wilful defaulters’ list under the[Read More…]
RBI consultation to change 25 basis points cut norm soon
New Delhi: The RBI could soon start discussions to break away from the convention of reducing key policy rate by 25 basis points or multiples thereof shortly with stakeholders like lenders, domain experts and within the Central Bank. “There is a need to consider interest rate adjustments, not necessarily in[Read More…]
India’s travel spend to grow at 13% to $136 bn by 2021
New Delhi: The travel spend in India is expected to grow at 13 per cent to a total of $136 billion by 2021, said a new report by Bain & Company and Google India on Tuesday. According to the “How Does India Travel” report, the Indian traveller spent around $94[Read More…]
Delhi HC to RBI, Google Play: Reply on plea over Google Pay
New Delhi: The Delhi High Court on Wednesday asked the Reserve Bank of India (RBI) and Google India Digital Services Private Limited to file a reply on the plea alleging Google Pay not being listed as an authorised operator as per list of the ‘Payment System Operators’. A division bench[Read More…]
Indian economy grim as several key indicators drop: Experts
The Indian economy may be moving towards a slowdown as the country has off-late witnessed a drop in several key economic indicators, experts said. After a fall in auto sales, a shortfall in collection of direct taxes among others, now household savings in the country too have declined. In proportion[Read More…]
India’s Service sector slows down to 52 from 52.5 in March: Nikkei PMI
A monthly survey by Nikkei purchasing managers’ index on Thursday showed that Services sector, the largest sector of the Indian economy, is growing with slower pace. Growth rate of the services fell to six-month low in March 2019. Nikkei India Services Business Activity Index PMI fell to 52 in March from 52.5, indicating slowest[Read More…]
RBI cuts repo rate by 25 base points to 6% from 6.25%
Mumbai: In the first monetary policy review of the current fiscal, the Reserve Bank of India (RBI) on Thursday lowered its key lending rate for commercial banks by 25 basis points (bps) to 6 per cent. Muted growth and subdued inflation prompted the Reserve Bank of India (RBI) on Thursday[Read More…]
SC nixes RBI circular on bad loans as ultra vires
New Delhi: In a huge relief to the regulated sector, the Supreme Court on Tuesday struck down as ultra vires the controversial Reserve Bank of India (RBI) circular mandating resolution of loans of Rs. 2,000 crore and above even for a single day. “We have declared RBI circular ultra vires,”[Read More…]
