The Indian government has issued an updated Standard Operating Procedure (SOP) for processing Foreign Direct Investment (FDI) applications, aiming to clear all proposals within 12 weeks, a two-week extension from the previous 10-week target, to ensure a fully paperless and transparent process.
India's newly formed Artificial Intelligence Governance and Economic Group (AIGEG) is set to advocate for a unified legal framework for AI companies, including developers of large language models and chatbot systems, alongside broader operational rules.
HDFC Bank reports a 12% credit growth for the March quarter, alongside the unexpected resignation of its chairman, Atanu Chakraborty, due to ethical concerns.
India has established a high-level inter-ministerial body, the AI Governance and Economic Group (AIGEG), to steer the country's national AI governance strategy. The AIGEG will coordinate policy across ministries and oversee cross-sectoral governance issues, supported by a Technology and Policy Expert Committee (TPEC).
Haryana's Chief Minister Nayab Singh Saini reviewed the progress of the Haryana AI Development Programme (HAIDP), a Rs 474-crore initiative developed with the World Bank, focusing on AI skilling, startup incubation, and ethical AI governance.
HDFC Bank has launched an independent review by external law firms following the abrupt resignation of Chairman Atanu Chakraborty, who cited 'ethical concerns and practices within the bank' as the reason for his departure.
The Reserve Bank of India (RBI) has issued a statement assuring the public of HDFC Bank's stability and sound financial position following the resignation of its chairman, Atanu Chakraborty, citing ethical concerns.
Atanu Chakraborty has resigned as chairman of HDFC Bank, citing ethical concerns, marking an unusual departure and prompting the appointment of an interim chairman.
The Indian government has extended the Reserve Bank of India's (RBI) mandate to maintain retail inflation at 4 per cent, with a tolerance band of 2 per cent on either side, for another five years until March 2031.
We know what Mrs Sitharaman and Mr Chaudhary (who may soon be moving out of the finance ministry to head to Lucknow to take charge as president of the Bharatiya Janata Party's Uttar Pradesh unit) look like, but who are the others in these photographs?
India has joined the US-led 'Pax Silica' alliance, aimed at building a resilient supply chain for critical minerals and artificial intelligence, marking a significant step in strengthening bilateral ties and fostering economic security.
The Enforcement Directorate (ED) is seeking an expedited trial against Congress leader P Chidambaram in the Aircel-Maxis and INX Media money laundering cases, having submitted the required prosecution sanction to the court.
The government on Friday received financial bids for the strategic disinvestment of IDBI Bank, the Department of Investment and Public Asset Management (Dipam) said in an official statement on X.
Capex, infrastructure development, and prudent fiscal management are the key focus areas in the Budget, says Nilesh Shah.
Delhi Police inform court that a BMW driver involved in a fatal accident last September is charged with culpable homicide for allegedly delaying medical assistance to the victim.
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
The reduction in the goods and services tax (GST) rates has increased the momentum in India's economic activity both on the supply and demand sides, while robust agricultural activity - reflected in the strong onset of rabi sowing and adequate reservoir levels - has reinforced the outlook for food supply and rural incomes, the finance ministry said on Thursday.
India's leading agriculture commodity exchange, the National Commodity & Derivatives Exchange (NCDEX), has decided to acquire around a 20 per cent stake in a new commodities and financial derivatives exchange being set up in Sri Lanka, subject to regulatory and governmental approvals. The move aims to deepen NCDEX's footprint in the financial ecosystem of its neighbouring country.
The ministries of Road Transport & Highways and Railways have exceeded the national average capital expenditure (capex) by spending 63 per cent and 57 per cent of Budget estimates (BE), respectively, in the first half of 2025-26 (FY26). The total capital expenditure for April-September of FY26 stood at 52 per cent of the BE, according to the latest data by the Controller General of Accounts (CGA).
Noting that recent uncertainties created by global tariffs have not impacted the Indian economy severely, Anuradha Thakur, secretary, Department of Economic Affairs, said the central government is hopeful that the recent goods and services tax (GST) rationalisation will ignite the much needed animal spirits in the financial sector.
The members of the cabinet committees included Union ministers from the Bharatiya Janata Party and its National Democratic Alliance partners like Janata Dal-United, Telugu Desam Party, Janata Dal-Secular, Shiv Sena and Lok Janshakti Party-Ram Vilas.
India needs to limit its reliance on multinational corporations (MNCs) for strategic audits and consulting in order to strengthen its economic sovereignty and achieve the goal of Atmanirbhar Bharat, the Ministry of Corporate Affairs (MCA) said in an office memorandum released on Wednesday.
A senior official from the Union Ministry of Finance died and three others were injured after a BMW allegedly struck his motorcycle in Delhi. Police are investigating the incident.
Senior finance ministry official Navjot Singh, killed in a BMW crash, was cremated. The driver's alcohol test was negative, and an investigation is underway.
A senior government official died and his wife was seriously injured after their motorcycle was hit by a BMW in Delhi. The wife alleges the couple in the car delayed taking them to a proper hospital.
A court in New Delhi on Saturday granted bail to Gaganpreet Kaur, the key accused in the BMW incident, saying the accident's CCTV footage showed the allegation of culpable homicide was on a 'fragile foundation'.
'If the near-term economic pain is absorbed more by those who have the ability and the financial strength to do so, then small and medium enterprises in downstream industries will emerge stronger from the trade imbroglio.'
On July 2, the US Embassy shared data that "it said covered USAID funding in India from 2014 to 2024", including details of implementing partners, objectives, and key accomplishments of each activity undertaken, he said.
Pakistan on Friday said that the X account of its ministry of economic affairs was hacked and an appeal was posted on it for more international loans to meet the 'heavy losses' caused by the current tensions with India.
With inflation comfortably below the Reserve Bank of India's (RBI's) 4 per cent median target and likely to undershoot its 3.7 per cent projection for 2025-26 (FY26), there is room for the monetary policy easing cycle to be sustained, the Finance Ministry said on Monday. The comments, featured in the ministry's Monthly Economic Review for June 2025, assume significance ahead of the Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI) scheduled to begin from August 5.
Pakistan's Ministry of Economic Affairs X account was hacked and a fake appeal was posted, calling for more international loans to help defuse tensions with India following the Pahalgam terror attack. The post urged the international community to help de-escalate the situation and requested more loans to address "heavy losses" caused by the tensions. The hacking incident occurred during a crucial meeting of the IMF executive board to decide on the next installment of a USD 7 billion loan for Pakistan.
India had vehemently opposed Asian Development Bank's decision to grant $800 million loan to Pakistan saying the fund could be misused for increasing expenditure on its military, government sources said.
India's macroeconomic health is in a "relative goldilocks situation", and although the risk of higher landed oil prices, due to insurance cost surges and closure of choke points due to the brief Israel-Iran war, has receded, it is "too soon to sound the 'all clear' for the rest of the year", the Finance Ministry said on Friday.
Tarun Bajaj, an old hand at the finance ministry, on Friday assumed charge as the economic affairs secretary. He comes back to North Block at a time when the economy is facing headwinds due to the outbreak of Covid-19 pandemic.
Duvvuri Subbarao on Monday joined as secretary, department of economic affairs, Ministry of Finance. He belongs to the 1972 batch of the Indian Administrative Service (Andhra Pradesh cadre).
India registered its protest at the board of IMF, which met on Friday to review the EFF lending programme for Pakistan.
India has opposed the International Monetary Fund's (IMF) proposal to extend fresh loans of USD 2.3 billion to Pakistan, citing concerns that the funds could be misused for financing state-sponsored cross-border terrorism. India abstained from voting at the IMF meeting, expressing concerns about Pakistan's track record and the possibility of debt financing being misused for terrorism. The IMF took note of India's statements and its abstention from the vote. India's opposition comes at a time when military conflict between India and Pakistan has intensified following a terrorist attack in Kashmir.
India's economic growth forecast for 2025 has been revised downward to 6.3 per cent, and despite a projected moderation, the country remains one of the fastest-growing large economies, supported by resilient consumption and government spending, the United Nations has said.
Finance Minister Nirmala Sitharaman on Friday presented the Economic Survey 2024-25 in the Lok Sabha. The Economic Survey is an annual document presented by the government ahead of the Union Budget to review the state of the economy.
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