Economy News

India's April-Dec fiscal deficit at 55% of full year target

India's fiscal deficit for April-July stands at 17.2 pc of full-year target

The Central government's fiscal deficit in the first four months (April-July) of the current financial year stands at Rs 2.77 lakh crore.

Aug 31, 2024

Centre approves 12 projects worth Rs 28,602 cr to transform industrial landscape, create 40 lakh jobs

India's Industrial Leap: Rs 28,602 crore approved for 12 Projects [Details]

India's Cabinet Committee on Economic Affairs has approved 12 new projects under the National Industrial Corridor Development Programme. The projects, worth Rs 28,602 crore, are expected to generate significant employment opportunities and contribute to India's export goals.

Aug 28, 2024

Sensex ends flat, Nifty at 25,052 after hitting fresh all-time high

Indian equity benchmarks closed flat on Wednesday following volatility in the markets.

Aug 28, 2024

Centre approves 3 railways projects worth Rs 6,456 cr, to create 114 lakh man-days

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday approved three projects of Ministry of Railways with a total estimated cost of Rs 6,456 crore and to be completed by up to 2028-29.

Aug 28, 2024

PMJDY: A Decade of Financial Inclusion in India

The Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme, launched in 2014, has integrated over 53.14 crore economically marginalized individuals into mainstream banking. The scheme has seen a 3.6-fold growth in accounts, providing access to formal banking services and promoting financial inclusion. The PMJDY scheme has also promoted gender equality and rural inclusion, with 67% of accounts opened in rural or semi-urban areas and 55% by women. The success of PMJDY in promoting financial inclusion in India is comparable to similar initiatives globally, like M-Pesa in Kenya and Grameen Bank in Bangladesh.

Aug 28, 2024

Yes Bank expels its country head of financial markets, reason unknown

Amit Sureka, based in Yes Bank's Mumbai branch has been working with the private lender since 2005

Aug 27, 2024

IMF Boosts Egypt's Economy with $820 Million Aid Amid Regional Tensions

The IMF has approved a disbursement of $820 million to strengthen Egypt's economy. This aid is part of an $8 billion loan program agreed upon in March to help Egypt deal with regional tensions. Despite Egypt's economic progress, the IMF warns of the challenging regional environment it continues to face.

Aug 27, 2024

Foreign investors pump in Rs 1 lakh crore in Indian debt market in 2024 so far

Foreign Portfolio Investors (FPI) have pumped over Rs 1 lakh crore into the Indian debt market in 2024 so far due to the country's inclusion in JP Morgan's Emerging Market Government Bond Indices

Aug 27, 2024

SEBI Issues Notices to Paytm CEO Vijay Shekhar Sharma Over Alleged IPO Irregularities

SEBI has issued notices to Paytm CEO, Vijay Shekhar Sharma, over alleged IPO irregularities. The allegations include misrepresentation of facts and non-compliance with promoter classification norms.

Aug 26, 2024

India offers UPI as a plug-and-play system to other countries to speed up cross-border payments

RBI Governor Offers UPI System for Global Adoption

India's Reserve Bank of India (RBI) Governor, Shaktikanta Das, has offered the country's Unified Payments Interface (UPI) system as a plug-and-play model for other nations.

Aug 26, 2024

US jobless claims data allays fears over economic slowdown

US Jobless Claims Rise Marginally, Fed Rate Cut Expected

US jobless claims marginally increased, easing fears of a sharp economic slowdown. The US Federal Reserve is expected to cut interest rates to stimulate economic growth. Fed Chair Jerome Powell's upcoming speech is anticipated to provide insights into future policy. The potential rate cut could boost global markets, including India's, by attracting foreign investors.

Aug 24, 2024