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Services sector shrinks for third successive month in July

Vikas Dhoot Services PMI at 45.4 offsets manufacturing rebound, private sector jobs decline for 17th straight month

RBI cautions public against fraudsters

Special Correspondent The Reserve Bank of India (RBI) has cautioned the general public not to fall prey to fictitious offers of buying or selling of old banknotes and coins.“It has come to the notice of RBI that certain elements are fraudulently using the name/ logo of RBI and seeking charges/commission/ tax from public, in transactions related to buying and selling of old banknotes and coins through various online/offline platforms,” the RBI in a press release.“It is clarified that RBI does not deal in such matters

S. Ram. Photo: Special Arrangement

‘CV segment may recover in second half of FY22’

Special Correspondent ‘Agri tractor market to sustain growth’

RBI extends deadline on current account guidelines

Special Correspondent The Reserve Bank of India (RBI) has allowed banks time till October 31, 2021 to implement its guidelines on opening and operating of current accounts. In a letter to banks, the RBI said its restriction on current accounts applies to borrowers in case they avail of CC/OD [cash credit/overdraft] facility, since all operations that can be carried out from a current account can also be carried out from a CC/OD account, as banks in a CBS environment follow a one-bank-one- customer model as against a

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‘U.S. services sector grows at record rate’

RBI cautions public against fraudsters

RBI extends deadline on current account guidelines

‘CV segment may recover in second half of FY22’

Services sector shrinks for third successive month in July

Don’t fall prey to fraudsters, RBI cautions public

Insolvency code has strayed from intent: Parliament panel

Committee seeks IBC review; flags low recovery rates, delays, vacancies in NCLTs

Work on six lakh homes facing delay: Anarock

‘Projects are worth over ₹5 lakh crore’

At $35 bn, July exports 34% higher than pre-COVID level

Trade deficit hits three-month high as gold imports jump 145.4% from 2019 levels

Manufacturing PMI recovers to 3-month high

First uptick in employment after 15 months of job losses in the sector

Gold gleams, silver struggles

Precious metals remained broadly range bound in July. After a distinctly weak performance in June, Comex gold managed to close in the green. The U.S.

Ask Us, on investments — July 25, 2021

Q. I am a 21-year-old medical student. I have started a recurring deposit (RD) with the ₹1,000 that I save every month. Now, I want to start

GST collections recover to ₹1.16 lakh crore in July

This ‘clearly indicates that the economy is recovering at a fast pace. The robust GST revenues are likely to continue in the coming months too,’ says the Finance Ministry.

China’s factory activity grows at slowest pace in 17 months

July’s official PMI shows raw material costs hurt businesses

Is RBI planning a digital currency for India?

How will the transition to a new monetary system hold up and what are the risks?

Housing unit sales plunge 58% Q-o-Q due to 2nd wave impact says PropEquity

Real estate sales plunged 58% in the April-June quarter (Q2) as compared to the January-March quarter (Q1) as India faced the major brunt of COVID

Data | Urban workers hit the most during national COVID-19 lockdown

Amount of work available for workers in India reduced substantially in the period coinciding with the national lockdown during the first COVID-19 wave

Eight core sectors' output up by 8.9% in June

These sectors had recorded a contraction of 12.4% in June 2020.

U.S. GDP climbs 6.5% buoyed by consumers, businesses

Growth tempered by supply chain constraints on inventory

High fiscal borrowings won’t crowd out private sector: CEA

SEBI member asserts ‘no doubt’ borrowings are crowding out corporate bonds

Fed notes improving economy, a step toward easing support

The Fed’s latest policy statement comes as the economy is sustaining a strong recovery from the pandemic recession

Deposits upto ₹5 lakh in troubled banks to be repaid in 90 days

Union Cabinet approves amendment to Deposit Insurance Credit Guarantee Corporation Bill 2021

Explained | Is RBI planning a digital currency for India?

How will the transition to a new monetary system hold up and what are the risks?

Panel raps govt. over MSMEs, urges larger economic package

Parliamentary committee moots steps to boost cash flows for micro, small units

IMF cuts India's GDP growth forecast to 9.5% for FY22

This forecast for 2021-22 is lower than the 12.5% growth in GDP that IMF had projected in April before the second wave took a grip.

‘High inflation transitory, RBI may remain dovish’

MPC announcement due August 6

Retail investor interest has surged: SEBI’s Tyagi

‘Low interest rates, liquidity key factors’

RBI plans digital currency pilots soon

CBDC will help cut the cost of currency management while expediting real-time payments: Sankar

IBBI amends insolvency rules to help improve transparency

Seeks to probe corporate debtor’s ‘avoidance’ transactions

₹81,179 cr. due to states as GST compensation for FY21

Over ₹ 81,000 crore GST compensation is due to states for 2020-21, while for April-May this year, ₹ 55,345 crore is outstanding, Parliament was

India's strong fundamentals, market size will continue to attract foreign investments: FM

Asserting that the Indian economy is showing signs of revival since the peaking of second COVID wave in May, the government on Monday said the

‘India on course for 11% growth this fiscal, to meet deficit goal’

CEA says capex will boost construction, but warns of ‘irrational exuberance’

Automobile exports recover in Q1 amid improved pandemic situation globally

Automobile exports from India recovered in the first quarter with all vehicle segments, including passenger vehicles and two-wheelers, witnessing

Hiring activity saw uptick in most sectors in June: report

With the gradual easing of lockdowns, overall hiring activity witnessed positive growth for most sectors in June, according to a report. Hiring

Data | Medical expenses climb after second wave, adds to financial stress

Health expenditure increased the most in Telangana and least in Kerala

Time to be brave, stretch fiscal deficit goals if need be: Kamath

‘Benign rates, liquidity crucial to seize growth opportunity’

Rupee slips 3 paise to close at 74.57 against U.S. dollar

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.06% to 92.56.

Petroleum minister vows to work with Saudi Arabia, UAE to calm oil markets

Puri said New Delhi would like to expand its relations with Riyadh to “beyond buyer-seller to see greater two way investment”.

GDP to grow in double digits on low base: ICRA report

Economic recovery has gained momentum after the lifting of localised lockdowns imposed in the aftermath of the second wave, but is ‘incomplete,’

Financial inclusion is a policy priority: Shaktikanta Das

‘Inclusivity bolsters financial stability’

Inflation to persist at elevated levels for a while: RBI officials

Price pressures to ease in third quarter of 2021-22, they write in a Bulletin article

States get ₹75,000 crore GST dues

Around ₹63,000 crore is still due to States for 2020-21, when ₹1.1 lakh crore of similar back-to-back borrowings were undertaken to meet their compensation dues.

CBIC launches 24/7 plan for instant import, export of vaccines

Dedicated teams will oversee the evacuation of vaccines at air-cargo terminals and relaxations brought in for the export and import of vaccines through courier services.

India’s exports increase by 32% in June, touches $49.85 billion

Imports stood at $52.18 billion, rising 73.65% in June year-on-year and 1.08% higher than June 2019.

India’s power consumption returns to pre-COVID level in first fortnight of July; up 17% to 59.36 BU

Power consumption during July 1-14 last year was 50.79 BU

RBI bars Mastercard from adding new users

‘Issuer not compliant with data rules’

Cabinet nod for subsidy scheme to boost merchant ships

It will also increase training opportunities and employment for seafarers.

Oil Min Puri dials UAE for affordable oil prices

The world's third-largest importer has many times called on OPEC to price oil at reasonable levels.

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