As per the latest government data, India's second quarter economic growth inched up to 4.8 per cent during second quarter (July-September) of 2013-14, well above 4.4 per cent in the first quarter (April-June).
The Indian economy recorded a six-quarter high growth of 8.2 per cent in July-September, as factories churned out more products in anticipation of a consumption boost from the GST rate cut, according to government data.
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
The core dilemma remains: Why provide further stimulus to an economy that is already booming at an 8 per cent growth rate? asks Rajeswari Sengupta.
Responding to questions, the World Bank president insisted that this slowdown is temporary.
Surprised at the World Bank's decision to appoint a neutral expert, as sought by the Indian government, and at the same time establish a Court of Arbitration as wanted by Pakistan, India said proceeding with both the steps simultaneously "legally untenable".
Even as the World Bank has revised India's growth figures by 0.4 percentage points as compared to its January forecast, India remains the fastest growing major economy in the world, the World Bank officials said.
With discretionary spending still under pressure, the information technology (IT) services industry continued to face an uncertain demand environment in the third quarter of 2025-26 (Q3FY26).
"India did a self-assessment (by the Committee on Financial Sector Assessment, or CFSA) of its financial sector in 2009. This has given us the confidence to get our financial sector evaluated by international financial institutions like IMF and the World Bank. We have voluntarily sought a full-fledged Financial Sector Assessment Programme," Finance Minister Pranab Mukherjee said at the second International Finance Conference at the Indian Institute of Management, Calcutta.
'India is quickly becoming the beating heart of modern chess, and its role as an economic power is more and more visible.'
World Bank has sounded the warning bells for Indian banks and financial institutions on their high non-performing assets and the risks of suffering losses if interest rate starts rising.
Officials from both India and the US in the recent past have indicated that a "fair deal" will be concluded soon, with Indian officials holding that more formal rounds of talks are not needed.
Lauding India for its decade-old economic reforms, World Bank vice president Nicholas H Stern said on Tuesday that the country has shown the developing world the right kind of economic policies to be adopted.
Warning that India's farm subsidy had mounted to 5.6 per cent of agriculture GDP, the World Bank on Wednesday said the country should instead be investing more in rural education, social and infrastructure development.
Country's largest lender State Bank of India (SBI) is looking to be among 10 top global banks in market capitalisation terms in the next five years, chairman CS Setty said on Wednesday. "The scope for value creation for the stakeholders is potentially very high. So the larger ambition is if the market supports whether we can be part of the top 10 global banks in terms of the market capitalisation (five years)," he said after listing of shares issued under Qualified Institutional Placement (QIP) at NSE.
Fitch Ratings on Wednesday raised India's GDP growth forecast to 6.9 per cent for current fiscal year, from 6.5 per cent earlier, citing strong June quarter growth and domestic consumption-led demand.
A recent World Bank report placing India among the most equal countries globally may present a limited view of inequality, with economists suggesting that broader data sets could tell a different story. According to the report, India's Gini index (or coefficient/ratio), a key measure of inequality, stood at 25.5 in 2022-23, placing the country fourth globally in terms of equality, behind only the Slovak Republic, Slovenia, and Belarus.
'Her outstanding performance in the World Cup has definitely added to her brand value significantly. The high WPL bids validate it more.'
Prime Minister Narendra Modi on Thursday invited global businesses to participate in the growth story of India, which is the fastest growing large economy of the world.
Cummins remains a doubtful for the Ashes opener at Perth starting on November 21 but Marsh is among the players who would be in fray for selection for the opening Test of the five-match series.
'We haven't won the tournament for a while and the objective is to be No.1 in Asia and we will be pushing hard for the next 10 days.'
India was the World Bank's favourite last financial year when it came to extending financial aid in the form of loans, both among developing countries and the world's poorest nations.
World Bank on Friday offered to help India to improve its public procurement system and said even a marginal improvement in efficiency can yield huge savings.
It is the first major contact of its kind since the Pakistan-India conflict in May, the paper said, citing sources.
The World Bank on Sunday said the coronavirus outbreak has severely disrupted the Indian economy, magnifying the pre-existing risks to its outlook. In its 'South Asia Economic Update: Impact of Covid-19', the World Bank estimated the Indian economy to decelerate to 5 per cent in 2020 and projected a sharp growth deceleration in fiscal 2021 to 2.8 per cent in a baseline scenario.
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
Pakistan has urged India to fully adhere to the Indus Water Treaty (IWT), expressing concerns about the level of detail in flood information shared through diplomatic channels.
World Bank is likely to double loan sanctions to India to about $3 billion annually for the next four years, as part of its Country Assistance Strategy to be announced in New Delhi on Friday.
Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, have signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs 3,600 crore each totalling Rs 7,200 crore.
'I had a feeling from within that this tournament (Asia Cup) would be something special, but I did not think that I would become the player-of-the-tournament.'
'Mob fury has become very common these days. And these attacks are all planned very well.' 'In all these attacks, you see that they have a very clear cut plan to make the victims as the oppressors and the guilty.' 'The attackers escape and they face no consequences as they have the backing of some political leaders.'
Appreciating India's initiatives in containing spread of AIDS, vice president and corporate secretary of the World Bank Ngozi Okonjo-Iweala said the World Bank is working closely with New Delhi to further improve the health scenario in the country.
Remittances to India are likely to drop by 23 per cent from USD 83 billion last year to USD 64 billion this year due to the coronavirus pandemic, which has resulted in a global recession, the World Bank has said. Globally remittances are projected to decline sharply by about 20 per cent this year due to the economic crisis induced by the pandemic and shutdowns, according to a World Bank report on the impact of the Covid-19 on migration and remittances released on Wednesday.
Which are some of most special places in the world to celebrate Christmas?
The Washington-based multilateral lender had extended only $2.2 billion loan to the country for the year ended June 2009.
World Bank President James D Wolfensohn on Friday called on Prime Minister Manmohan Singh at his residence as he wrapped up his 3-day visit to India.
The Union home ministry has cancelled the Foreign Contribution Regulation Act (FCRA) registration of the Centre for Policy Research (CPR) for alleged violation of laws, a move the public think-tank termed "incomprehensible and disproportionate" and vowed to seek legal recourse against.
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