ECONOMY


India's economic growth rose to 6.1% in the fourth quarter (January-March) of 2022-23, a significant rise from 4.4% seen in the third quarter (October-December), according to government data released on Wednesday.   However, the growth in real GDP during 2022-23 is estimated to be...

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Reserve Bank of India (RBI) has said that domestic economic activity does face challenges from an uninspiring global outlook going forward, but resilient domestic macroeconomic and financial conditions, expected dividends from past reforms and new growth opportunities from global geo-economic...

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Reserve Bank of India (RBI) has said that in 2022-23 the domestic financial market movements remained orderly, notwithstanding persisting impact of global spillovers during the year.   "Relentless strengthening of the US dollar and aggressive tightening of monetary policy by the US...

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There are chances of India's gross domestic product (GDP) for FY22-23 crossing the estimated 7% growth going by the trends, Reserve Bank of India (RBI) governor Shaktikanta Das said on Wednesday.   Speaking at the annual conference of the Confederation of Indian Industry (CII) here Mr...

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The sudden collapse of three US banks in 2023 was a major financial event that rocked the world of finance for a time. The event was described as localised but was different from the 2008 global financial crisis, in the sense that 2008 was a crisis that started in investment banking, but the...

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Unofficial result of the THai general election showed the opposition parties have won the majority of seats in the lower house of parliament, the Election Commission said Monday.   As of 99.18 per cent vote counting which is completed so far, the two major opposition parties, the Move...

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Last week, I was chatting with a director of a kitchen appliances company and he mentioned that "pots and pans are not selling well." This is borne out by the poor sales growth of all kitchen appliance companies. On the other hand, India's largest luxury and premium watch retailer, Ethos,...

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Sponsored Post 19 April 2023
The New Tax Regime was first announced in 2020 which saw only a few takers. Before the introduction of the New Tax Regime, there was only one Regime – the Old Tax Regime. More recently, the New Tax Regime was again updated in the Union Budget 2023. These changes will come into effect for the...

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India's wholesale price index (WPI)-based inflation fell to a 29-month low of 1.34% in March due to a steep fall in indexes of primary articles, manufactured products, fuel and power as well as food.   Wholesale inflation was 3.85% in February 2023, while it was 4.73% in January...

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The global gloom and doom scenario of 2022 (inflation, higher interest rates, and economic slowdown) continued into 2023, but the climate changed in the March quarter. In the US, inflation is down from 9.1% in June last year, to 6% now. In the Eurozone, inflation is down from 10.6% to 6.9%...

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India's retail inflation, which is measured by consumer price index (CPI), fell to 5.66% in March from 6.44% in February, according to official data released on Wednesday.   The retail inflation fell mainly due to sharp slide in food inflation, which stood at 4.79% in March against...

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Moneylife Digital Team 06 April 2023
In a people-friendly move, Reserve Bank of India (RBI) governor Shaktikanta Das on Thursday announced the development of a common web portal to search for unclaimed deposits. According to the Union government, the total unclaimed deposits transferred to RBI by the public sector banks (PSBs)...

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The Reserve Bank of India's (RBI) monetary policy committee (MPC) on Thursday unanimously decided not to revise the repo rate, the central bank's governor Shaktikanta Das announced.   The MPC decided to keep the repo rate—the rate at which RBI lends to the banks—at 6.5% taking into...

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Homegrown quick-grocery delivery provider Dunzo has laid off at least 30 per cent of its workforce, nearly 300 employees, after it raised $75 million in a fresh funding round.   According to sources, Kabeer Biswas, Dunzo Founder and CEO, told employees in a town-hall meeting about the...

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Kirana tech startup 1K Kirana has laid off 40 per cent of its workforce, or over 200 employees, as it restructures growth forecasts and moves out of a few geographies.   In a statement to IANS, the Info Edge-backed startup said that they are currently in the process of restructuring...

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India's GDP is expected to slide down to 6.3% in 2023-24 as against its earlier estimate of 6.6%, mainly due to consumption falling owing to higher borrowing costs, according to a World Bank report released on Tuesday.   Since May last year, the Reserve Bank of India (RBI) has been...

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The era of low interest rates and easy credit is over in the Asia-Pacific region. Amid greater market volatility and slower Asia-Pacific economies, funding access could tighten sharply, said S&P Global Ratings in a report.   Banks, which dominate the region's funding channels, could...

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The Reserve Bank of India (RBI) is likely to apply the pause button on continuous hikes in repo rates during next week's meeting of its monetary policy committee (MPC), says a report by the State Bank of India's (SBI) research wing.   "We expect the RBI to pause in April policy... It...

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Moneylife Digital Team 21 March 2023
The international police agency Interpol has revoked the red corner notice (RCN) alert against Mehul Choksi, the infamous diamantaire wanted by the Indian judicial authorities for the Punjab National Bank Scam case (PNB Scam). According to reports, his name was removed based on the plea he...

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Shares in the troubled First Republic Bank crashed more than 46% after reports the San Francisco-based bank may need to raise more funds despite a US$30bn rescue last week.   As the growing banking crisis spread into a new week, the credit rating of the regional bank was downgraded...

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