A reading above 50 denotes expansion while one below means contraction.
After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received.
India's gold reserves were also up by $297.7 million to $19.33 billion
The move comes against the backdrop of rising instances of people getting duped by illicit money pooling activities
The Election Commission has written to heads of recognised political parties saying that it has created a fund in which fines for contempt of court can be deposited for failing to comply with the apex court's directions.
The government is likely to present a "run-of-the-mill" budget with an fiscal slippage to 3.7 per cent of the GDP in the next fiscal from an earlier target of 3.5 per cent, a Nomura report says.
The Supreme Court on Tuesday refused to interfere with the Bombay high court order granting bail to former Maharashtra home minister Anil Deshmukh in a money laundering case.
Tax shortfall: Finmin asks banks to deposit March TDS by month end.
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
Fuming at the defiance of its recommendations, the Supreme Court-appointed Lodha panel directed banks, where the Board of Control for Cricket in India holds accounts, not to disburse any funds for the financial decisions taken by the Board at its Special General Meeting in Mumbai on September 30.
The Supreme Court on Wednesday said the Centre should implement "as soon as possible" the interest waiver on loans of up to Rs 2 crore under the RBI's moratorium scheme in view of the Covid-19 pandemic, saying the common man's Diwali is in the government's hands.
The Supreme Court has refused to interfere with the government and RBI's loan moratorium policy, and declined to extend the six-month loan moratorium period.
Embattled retailer Future Retail Ltd (FRL) on Tuesday moved the Supreme Court to avert insolvency proceedings over missing a loan repayment deadline, even as its independent directors rejected an Amazon-supported offer to sell the company businesses at less than a third of what Mukesh Ambani's Reliance is offering. India's second-largest retailer, which operates multi-brand retail chains such as Big Bazaar, Easyday and Heritage, failed to pay Rs 3,494.56 crore to lenders by the due date of December-end and sought a 30-day grace period to resolve the situation. Unable to find money, it moved the apex court seeking to restrain its lenders from declaring the company a defaulter, which can invite initiation of insolvency proceedings.
Additional sessions judge R B Rote also held that the custodial interrogation of Nitesh Rane, the son of Union minister Narayan Rane, was necessary as police probe into the matter was 'incomplete.'
Supported by greater demand from both domestic and external markets, total new business rose at the fastest pace since March
The Supreme Court on Thursday said that the matter pertaining to review of the sentence awarded by it in May 2018 to cricketer-turned-politician Navjot Singh Sidhu in an over 32-year-old road rage case has not been listed "unexpectedly".
Food inflation was 7.79 per cent last month, higher than a revised 7.47 per cent in May
RBI expects the growth in the next fiscal to strengthen gradually, notwithstanding the significant headwinds.
RBI Governor Shaktikanta Das said the central bank saw economic growth slowdown in February, prompting it to cut rates ahead of the curve and wondered why markets were surprised with the decision to pause rate reduction. Noting that there is a need for an "informed and objective discussion" on the country's economy, Das said the RBI would do "whatever is necessary" to address growth slowdown, spikes in inflation as well to ensure good health of banks and non-bank lenders. The apex bank went for five consecutive rate cuts starting in February this year, making it a cumulative reduction of 1.35 per cent.
The CBI on Sunday deferred the questioning of Deputy Chief Minister Manish Sisodia in connection with the Delhi Excise policy scam case after he sought time from the probe agency citing the city government's ongoing budget exercise.
In February last year, it was (-)2.17 per cent.
A bench of Justices A M Khanwilkar and S K Kaul allowed the review plea filed by the victim's family on the issue of the sentence awarded to Sidhu.
Maharashtra, the country's largest cane and sugar producer after Uttar Pradesh, had, over the past few years, weathered adverse market dynamics brought about by a domestic and global sugar glut, mounting arrears and muted exports.
India is the largest importer of gold after China.
The Supreme Court on Friday said there should be a robust mechanism to ensure that the interests of Indian investors are protected in the stock market and sought views of the Centre and market regulator SEBI on PILs alleging exploitation of innocent investors and "artificial crashing" of the Adani group's stock value.
The recent Reserve Bank of India (RBI) norms on tokenisation services, which will be offered by card networks, are likely to result in merchants and payment aggregators incurring a cost as they have to pay a fee to the networks. The merchants and the payment aggregators, in turn, may pass on the cost to the customers. The norms, which were issued by the banking regulator released on September 7, allow card networks like Visa and Mastercard to offer the tokenisation service.
The move may release funds locked in government securities and add to liquidity. With inflation expectations lowered, this should not impact bond sentiment in the short run
Current account deficit is expected to narrow to 1 per cent.
A bench of Justices Arun Mishra and U U Lalit said, if home buyers are not ready to pay their outstanding amount, then the court will have to bundle up the projects.
So far, inflation outcomes have closely tracked these projections.
The agenda would also include organisational polls and a fresh membership drive, though "national role for Nitish" is likely to dominate the narrative.
The top court granted two weeks to the Centre and RBI to file the affidavit and place before it the decisions taken in this regard.
The RBI on Monday asked banks not to approve any proposal of foreign law firms to open a branch office, project office or liaison office in the country under FEMA for the purpose of practicing legal profession. The RBI has issued a circular in this regard in view of a Supreme Court order wherein the apex court held that advocates enrolled under the Advocates Act, 1961 alone are entitled to practice law in India and foreign law firms or foreign lawyers cannot practice the profession of law.
'Raghuram Rajan's contribution to the country's economy is "exemplary" and he would always be remembered for his outstanding work.'
India's Right-wing has sought to own our democracy by making itself appear the stuff of majority, and sometimes, a national ethos older than the Constitution on which our democracy is based, argues Shyam G Menon.
A reading above 50 means the sector is expanding, while a reading below 50 means contraction.
The regulator said that it is vested within its purview to regulate the bank account for payment systems and the settlement systems are finally posted in the books of account of banks with the RBI to attain settlement finality.
Private sector output in India expanded for the first time in 8 months in February as slump in the services sector moderated and manufacturing grew at a stronger pace, an HSBC survey said.
The recovery in manufacturing is still likely to prove "protracted" given the lingering structural constraints.
With the Centre submitting a list of 627 account holders in foreign banks to Supreme Court in the blackmoney case, Attorney General Mukul Rohatgi on Wednesday said that the deadline for investigation under the Income Tax Act into these accounts is March 31, 2015.
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