Economy

Mumbai: With the World Bank forecasting India to grow at 6.9 per cent in Financial Year 2023 and 6.6 per cent in FY24, the country's economic and earnings recovery coupled with capital expenditure cycle, (including PLI scheme) is expected…

New Delhi: India's retail inflation measured by consumer price index (CPI) cooled off to 11-month low of 5.88% in November 2022 primarily on the back of decline in food and vegetable prices, showed the data released by the government on…

Chennai: Instant personal loan app SimplyCash, a product of Hero FinCorp, has been rebranded as Hero FinCorp Instant Personal Loan. With this, the SimplyCash website will merge with the Hero FinCorp website. With close to 11% growth…

Panaji: The Reserve Bank of India (RBI) on Tuesday announced the launch of the first pilot for retail digital Rupee on December 01, 2022. The pilot would cover select locations in closed user groups (CUG) comprising participating customers…

Mumbai: Private sector lender Federal Bank said it has launched a Deposit scheme for NRIs titled ‘Deposit Plus’, which offers higher interest than the existing NRE fixed deposits. The maximum interest rate offered in this scheme is 7.50…

New Delhi: India will grow from a $3 trillion economy to a $40 trillion economy by 2047 ranking among the top three economies of the world, Reliance Industries Ltd (RIL) Chairman and Managing Director Mukesh Ambani said on Tuesday.…

Mumbai: Private sector lender HDFC Bank on Monday said it has partnered with Flywire Corp, a global payments enablement and software company, to enable Indian payers to seamlessly and digitally pay international education fees to higher…

Beijing: China’s super-rich have seen their wealth fall by the largest amount in over two decades, as the Russia-Ukraine war, Beijing’s zero-Covid measures and falling local stock markets pummeled fortunes, an annual rich list has shown.…

Kolkata: UCO Bank has reported a growth of 145.64 per cent to Rs 504.52 crore in Q2 that ended September, 30 2022, as the public sector lender announced on Thursday. " Bank has made net profit of Rs 504.52 crore during the quarter ended…

New Delhi: The gross GST revenue collected in the month of October 2022 stood at Rs 1,51,718 crore, data shared by Finance Ministry showed on Tuesday. This is the second highest collection ever with, next only to the collection in April…

Mumbai: Infibeam Avenues Limited, a leading payments infrastructure company, said it has received "in-principle" approval from RBI to operate as a Payment Aggregator (PA). Under this provision, the fintech major will get a substantial…

Hyderabad: All India Bank Employees' Association (AIBEA) has called a one-day nation-wide strike on November 19 in protest against the rise of increasing attacks by bank managements on employees, jobs and job security. The strike was also…

Jangama: Union Tourism and Culture Minister G Kishan Reddy on Sunday launched three digital Banking units in Khammam, Sircilla and Janagama in Telangana. Speaking after inaugurating the digital SBI banking unit in Janagama, Reddy said…

Kolkata: Punjab National Bank (PNB), nation’s leading public sector Bank, on Friday signed a Memorandum of Understanding (MoU) with the Indian Army to provide specially designed products to the Agniveers under the bank’s exclusive scheme of…

Berlin: As Germany battles the energy crisis, the government, in line with the leading economic institutes, expects an economic contraction of 0.4 per cent in 2023 and says that the country could slide into recession next year. "This…

Colombo: Since Sri Lanka announced in April that it will default on its foreign debt, its 22 million residents have lost access to most medicine and medical supplies, setting them on course for a humanitarian disaster, a report published on…

Washington: The Chinese economy will post the lowest GDP growth in four decades in the current year, barring performance during the initial COVID-19 crisis in 2020, the International Monetary Fund (IMF) said on Tuesday. "The revisions…

Mumbai: The Rupee on Friday plunged 44 paise, breaching 82 level to finish at 82.32, a record low owing to rising oil prices, even rate hike of and of US Federal Reserve too impact on the same, dealer of Foreign Exchange said. The…

New Delhi: Amid recession fears in major advanced economies, the World Bank on Thursday cut India's gross domestic product (GDP) growth forecast for financial year 2022-23 to 6.5% from its earlier estimate of 7.5%. The global financial…

Geneva: Energy prices in the world in August increased by 78% year-on-year, while gas prices rose by 250%, according to the World Trade Organization (WTO) its fresh report released on Wednesday. "The Ukraine crisis has pushed up prices for…