Some believe the shift to mobile-based transactions will be seamless considering that the urban tele-density is 148%. In rural areas, it is touching 51%. But smartphone penetration in India is a mere 12%. Growth of mobile money has been extremely slow: It is currently 1%.
Rajiv Kumar will continue as vice-chairman of the body, along with other full-time members V K Saraswat, Ramesh Chand and V K Paul.
Chief economic advisor Arvind Subramanian discusses the Budget, goods and services tax, Centre-state relationship and larger issues facing the economy
RBI has invited case studies from participant banks by January 31.
Will G20 showcase an India that is inclusive, culturally rich, diverse and tolerant, asks Ramesh Menon.
Amid China's economic slowdown, the country's economic challenges may increase manifold and its economy may be hit harder in the wake of the Ukraine-Russia crisis.
Poor governance and mediocre short-sighted politics are destroying the paradise that Goa was as its environment, water table, culture and way of life is drastically threatened by tourism and migration, points out Ramesh Menon.
The appeals came against orders of the Central Information Commissioner in various cases.
ICRA's GDP forecast is higher than the 6.0 per cent projection made by the Reserve Bank of India and Asian Development Bank for this fiscal.\n\n\n\n
Expecting India to sustain a high 8.2 per cent GDP growth in next three years, Asian Development Bank on Thursday offered up to $6.47 billion assistance during 2005-07 with special emphasis on agriculture and poor states.
The central bank held 72.5 per cent equity in Nabard worth Rs 1,450 crore, of which 71.5 per cent amounting to Rs 1,430 crore were divested way back in October 2010 and the residual shareholding was divested on February 26, 2019.
About 150 years ago, in British India, big farmers in the western region of Maharashtra agitated over unfair lending practices and demanded a more fair and inclusive financing structure. People say this is where the seeds of the cooperative movement, now omnipresent in the country, were sown. Today, more than 800,000 cooperative societies thrive in India, with 300 million members, a number close to the population of the United States. Despite a reach this deep--grass roots as they call it--cooperatives do not occupy a lion's share in the Indian economy.
'It is building the country's infrastructure, and delivering it very efficiently.'
Growth forecast has been lowered owing to tepid growth in the first half of 2017-18, the lingering effects of demonetisation, transitory challenges of GST, and some risks to agriculture stemming from a spotty monsoon.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
As Madhya Pradesh goes to polls, all eyes will be on 29 key assembly seats, out of the total 230, where the contest will be keenly watched.
Senior citizens of 75 years and above having pension income and interest from fixed deposit in the same bank would not be required to file income tax returns for the financial year beginning April 1.
The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
Painting a rosy picture, the Asian Development Bank on Tuesday forecast that the Indian economy would grow by 6 % in 2003 and 6.3% in 2004, and said fiscal deficit of the Centre and states would start falling after the elections next year.
In South Asia, the poverty would fall to 13.5 per cent in 2015.
'Whatever I did, I did for the farmers and whatever I am doing, I am doing for the country'
'MGNREGA is definitely like a lifeline and is the employer of the last resort'
Renowned women's rights activist and founder of the Self Employed Women's Association (SEWA) Ela Bhatt passed away in Ahmedabad on Wednesday due to age-related ailments, her associates said.
The defence minister also took an indirect dig at Gandhi for "doubting" the government's intention in the handling of the border row with China and said politics can not be done on the basis of "falsehood".
The Centre received 5.59 lakh public grievances against various government departments in the first half of this year, with the Department of Financial Services (DFS) getting most of such complaints, according to an official report.
Where do the four members of the Supreme Court appointed panel to interface with farmers stand on the Modi government's farm laws?
Finance Commission has got new team who are committed to growth initiatives.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
Sounding a note of caution, former Reserve Bank Governor Raghuram Rajan has said that India is "dangerously close" to the Hindu rate of growth in view of subdued private sector investment, high interest rates and slowing global growth. Rajan said that sequential slowdown in the quarterly growth, as revealed by the latest estimate of national income released by the National Statistical Office (NSO) last month, was worrying. Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged around 4 per cent.
Banks cannot shirk their responsibility in cases of frauds.
FinMin plans tougher targets for bad loans, Casa and others in performance-linked pay for senior management.
The government has decided to spend big on infrastructure across a wide variety of sectors to give a greater impetus to the economy which is recovering from the impact of Covid-19, Finance Minister Nirmala Sitharaman said on Monday.
The Palaniswami government is expected to utilise the Rangarajan Committee's recommendations before the 2021 assembly election.
The G-20 leaders under the chairmanship of Saudi Arabia's King Salman held an extraordinary video conference in which they resolved to use all available policy tools to minimise the economic and social damage from the pandemic that has killed over 21,000 people and infected more than 470,000 globally.
He is the fourth leader of the Sharad Pawar-led Nationalist Congress Party, which is ruling in alliance with the Shiv Sena and Congress in Maharashtra, to face the heat from the central agency.
In April, the World Bank had projected India's GDP would grow at 6.1 per cent in the current financial year and at 6.7 per cent the following year.
Gates, who is also co-chair in the Bill & Melinda Gates Foundation, further said since the issue of climate change is "complicated", different interventions are required to be taken including developing new variety of seeds and their distribution to farmers.
Uttar Pradesh chief minister Akhilesh Yadav has written as many as 80 letter to the PM since he took as the reins of the state three years ago.
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