RBI retained the GDP growth for the financial year 2018-19 at 7.4 per cent.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
According to a new report by international management consulting firm Arthur D Little, the worst of COVID-19's impact will be felt by India's most vulnerable in terms of job loss, poverty increase and reduced per-capita income, which in turn will result in a steep decline in the Gross Domestic Product (GDP). "Given the continued rise of COVID-19 cases, we believe that a W-shaped recovery is the most likely scenario for India. This implies a GDP contraction of 10.8 per cent in FY 2020-21 and GDP growth of 0.8 per cent in FY 2021-22," the report said.
India's news broadcasters are a national shame that have polarised Indians, observes Vanita Kohli-Khandekar.
Finance firms in these SEZs likely to get tax breaks.
Higher education policy may be at the core of the Tamil Nadu assembly polls next May, with a potential to break the ties between the ruling AIADMK in the state and the BJP counterpart at the national level, says N Sathiya Moorthy.
India may soon see a new set of oil barons with lesser-known companies venturing into crude oil and natural gas production. These new kids on the block have come up through a mix of entrepreneurial grit and backing from oil industry veterans. Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during the first round of Discovered Small Field (DSF-1) auctions. Adbhoot is in a 50:50 joint venture with the Bombay Stock Exchange-listed Hindustan Oil Exploration Company that has some five oil producing assets and over 10 blocks across the country.
India's economy, estimated to contract by 6.9 per cent in 2020 due to the coronavirus pandemic, is forecast to record a "stronger recovery" in 2021 and grow by 5 per cent, according to a UN report which said the country's current fiscal year budget points to a shift towards demand-side stimulus, with an uptick in public investment. The report, 'Out of the frying pan ...Into the fire?' published Thursday as an update to the Trade and Development Report 2020 by UN Conference on Trade and Development (UNCTAD) said the global economy is set to grow by 4.7 per cent this year, faster than the 4.3 per cent predicted in September 2020, thanks in part to a stronger recovery in the US, where progress in distributing vaccines and a fresh fiscal stimulus of $1.9 trillion are expected to boost consumer spending.
Perhaps the way forward could be the introduction of uniform rating standards - on the lines of accounting standards for the accounting profession - with a separate regulating authority for enforcing those standards, says Sudipto Dey.
Although Walmart-Flipkart wholesale game-plan is to target about a $150 billion market out of a total pie of $700 billion in the country, the consolidation marks the end of the multi-brand dream of the American retail giant.
The prime minister is likely to talk about its possible extension.
Rio de Janeiro will benefit from hosting the Olympic Games, the president of the International Olympic Committee (IOC) Thomas Bach said as Brazil struggles to cope with its worst recession in decades.
Investor sentiment got a big push after Brent crude, the international benchmark, dropped below the $73-mark to quote at a seven-month low of $72.65
Finance Minister P Chidambaram, while addressing the Carnegie Endowment for International Peace on "Recapturing India's Growth Momentum" in Washington on Thursday, said that the leading think tank need not launch an initiative to explore how India will vote in 2014, declaring that the Indian polity will vote the Congress back into power.
Inter will be his sixth club in a career which began when he made his debut for Anderlecht as a 16-year-old and has taken him to Chelsea, West Bromwich Albion and Everton.
News of all that's transpired on and off the football field.
Punjab Chief Minister Parkash Singh Badal on Tuesday demanded a financial assistance of Rs 300 crore from the Centre to modernise the state police to meet any challenge posed by terrorism. The chief minister said if the state police were better equipped and trained, there was no need to fly commandos to tackle any terror strike.
It has been voted as the best hotel in the world by Conde Nast Traveler magazine.
China will also set up 50 joint laboratories with countries participating in the Belt and Road initiative to enhance cooperation on innovation.
Equity inflows worth $3.7 billion came from the sunny Caribbean jurisdiction in 2019-20, a 267 per cent increase from the $1 billion registered in 2018-19 making it India's 10th largest source of FDI.
The complete lack of live action due to the COVID-19 pandemic is a 'good break' for modern cricketers spending most of their time on the road, feels legendary Pakistan batsman Zaheer Aabbas. He was supposed to be with his wife in London, but got stuck in Karachi due to the travel ban in the wake of the virus outbreak.
A group of envoys including those from several Europe Union countries and a few Organisation of Islamic Countries (OIC) member states began a two-day visit to Jammu and Kashmir on Wednesday to take a first-hand account of the situation in newly-carved union territory, especially after the recently-concluded local body elections.
Court documents show that the Kerala government, whose case was treated as the 'lead case' among all the petitions filed against Adani, made four allegations to convince the court to cancel the contract for the Thiruvanathapuram airport. The state's legal team couldn't substantiate most of these allegations with documentary proof and its self-defeating arguments in court failed to convince the judges to cancel the contract given to Adani. The battle for the Thiruvananthapuram airport between the Communist-led Kerala government, the Adani group and the Modi government over the past year hasn't had a dull moment since the proceedings began. Claims of a smoking gun turned out to be a damp squib, says Sai Manish.
Taking note of the 'indigent circumstances' in which former athlete Santhi Soundarajan has been living, the Sports Ministry has sanctioned an assistance of Rs 60,500 to fund her NIS Diploma Course at the SAI Centre in Bengalore.
This is the time when the US would need the conceptual strategic thinking of a Henry Kissinger, able to ally diplomatic skills with a well-conceived worldview of what the emergence of a new balance of forces will mean for a US whose ability to shape global events has definitely declined but still exists, says Claude Smadja.
While most banks in India store all this data on Indian servers in their core banking systems, the current directive addresses new-age payment and fintech companies operating in the space
Sellers downloading their monthly financial reports were served with those of other vendors, leading to a breach of competitive businesses data.
The turnaround of SAIL from several quarters of losses was one of the most challenging experience, said Anil Kumar Chaudhary, the outgoing chairman of the country's largest steel maker. The chairman said he also wants to see SAIL paying back at least 50 per cent of its debt in the near future. Chaudhary who had joined SAIL as a junior manager in 1984 would be superannuating from the top post on December 31, 2020 after serving the company for almost 36 years in various roles.
Given all the turbulence created by Pakistan Foreign Minister Qureshi's unexpected tirade against Saudi Arabia, it is likely to be business as usual between the two countries, albeit with a bit of caution on the part of both, observes Lieutenant General Syed Ata Hasnain (retd).
The new law permits for the first time Chinese security agencies to open their establishments and operate in Hong Kong.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
he government is examining a plan of bank recapitalisation and considering an urban version of MNREGS.
'At this point of time, West Bengal is doing better than other states in tackling the crisis. We have a chief minister who herself has hit the streets to do what is to be done, and at the same time ensuring a proper lockdown. She is also trying day and night to set up the requisite infrastructure.'
Ed Luce, Washington bureau chief of The Financial Times, has said that US President Barack Obama's endorsement of India's candidacy for a permanent seat on the United Nations Security Council was a "cheap price" he had to pay to appease New Delhi of its concerns over his administration's policy towards India.
Here are some of the glimpses of his visit.
An initiative to fund the education of bright Indian youngsters undertaken by two Indian-Americans has now acquired a momentum of its own, discovers Anjuli Bhargava.
Govt tells PSBs to integrate banking systems, rotate staff as a policy
Distancee MBA programmes at Indian Management School & Research Centre, IMSR.
