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Photo used for representation purpose only. | Photo Credit: K. Pichumani India’s industrial output growth hit a three-month low of 3.7% in June, from a revised 5.3% in May, according to official data, with consumer durables’ production slipping back into contraction mode, and manufacturing growth slowing to 3.1% from 5.8% in May. The data released…
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Image used for representational purpose only. | Photo Credit: S. Siva Saravanan Gross direct tax collection grew 15.73% to ₹6.53 lakh crore till August 10 in the current fiscal, the Income Tax department said on August 11. Net direct tax collection after adjusting refunds stands at ₹5.84 lakh crore, which is 17.33% higher than the…
Read More “Direct tax collections rise 16% to ₹6.53 lakh crore till August 10 in FY24” »
Indian Rupee notes are seen in this picture illustration taken in Mumbai June 12, 2013. File. (For Representational purpose only) | Photo Credit: Reuters The rupee depreciated by 8 paise to 82.74 against the US dollar in early trade on Friday, tracking a firm dollar against major rivals overseas. Analysts said, weak sentiment in the…
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The story so far: In the recently concluded Federal Open Market Committee meeting held on 26 July 2023, it was decided to increase the targeted federal funds rate to 5.25- 5 5%, i.e., yet another increase of the cost of funds by 25 basis points. With this, the federal funds rate has reached levels higher…
Read More “Explained | Will the Federal fund hike impact developing country debt?” »
Benchmark equity indices declined on Thursday post the RBI monetary policy, dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the U.S. inflation data announcement. The Reserve Bank of India (RBI) on Thursday left its key interest rates unchanged for…
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Gold price declined ₹250 to ₹59,800 per 10 grams in the national capital on August 10 amid weak cues in the overseas market. | Photo Credit: REUTERS Gold price declined ₹250 to ₹59,800 per 10 grams in the national capital on August 10 amid weak cues in the overseas market, according to HDFC Securities. The…
Read More “Gold declines ₹250 to ₹59,800/10 grams; silver tumbles ₹300” »
Two-wheeler domestic wholesales were down at 12,82,054 units last month, as against 13,81,303 units in July 2022. | file photo | Photo Credit: PTI Domestic passenger vehicles wholesales registered a 2.94 per cent year-on-year increase in July at 3,02,521 units, the Society of Indian Automobile Manufacturers (SIAM) said on Thursday. As per the latest data…
Read More “Domestic passenger vehicle wholesales rise 2.94% in July: SIAM” »
In a move to make United Payments Interface (UPI) more user-friendly and to increase its popularity, the Reserve Bank of India (RBI) has proposed incorporating Artificial Intelligence-powered conversational features on UPI, to enable digital payments through voice commands. The RBI has also announced plans to enhance the transaction limit for small-value digital payments in offline…
Read More “Soon, AI will let you make a UPI payment using voice” »
The Reserve Bank said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate. | Photo Credit: K. R. Deepak The Reserve Bank on…
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The Reserve Bank of India (RBI). | Photo Credit: REUTERS The RBI on August 10 retained the GDP growth projection for current fiscal year at 6.5% and raised the inflation projection marginally to 5.4% due to spike in vegetable prices, including tomatoes. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said domestic economic…