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The RBI Central Board discussed the proposal of setting up an Innovation Hub.

RBI to transfer ₹57,128 crore surplus to Centre for FY20

iSpecial Correspondent Last year, the central bank had transferred ₹1.76 lakh crore, which included ₹1.23 lakh crore as dividend and ₹52,637 crore of excess provisions.

Inching back: Non-oil, non-gold imports, a signal for demand, dipped 29%, narrowing from June’s 41% fall. File

July sees trade back in deficit as gold, pharma imports rise

Special Correspondent Exports rise in 16 of 30 major products; petro products, gems and jewellery drag

The wholesale price-based inflation declined 0.58% in July, even as food items turned costlier.

WPI inflation falls 0.58% in July, food prices spike

PTI WPI inflation in June was at (-)1.81%, while for the month of May and April it was (-)3.37% and (-)1.57% respectively.

Retail inflation rose to 6.93% in July, mainly on account of higher prices of food items, government data showed on August 13, 2020. File

Retail inflation rises to 6.93% in July

PTI It is for the second consecutive month that the retail inflation has been above the RBI’s comfort level

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July sees trade back in deficit as gold, pharma imports rise

RBI to transfer ₹57,128 crore surplus to Centre for FY20

WPI inflation falls 0.58% in July, food prices spike

Mutual fund SIP inflows hit 22-month low in July at ₹7,831-cr

Retail inflation rises to 6.93% in July

Fuel demand dips 11.7% in July

From carats to peanuts: how a pandemic upended the global diamond industry

As supply chains are convulsed by COVID-19, polishers switch to farming

Economic disruption to rural economy less severe, says Birla

UltraTech plans ₹1,500 cr. capex; group head sees 6-8% GDP growth next fiscal

‘India to face economic challenges for many years’

Potential growth has slowed: UBS

U.K. economy officially in recession after 20.4% Q2 slump

The slump recorded by the Office for National Statistics follows a 2.2% quarterly contraction in the first three months of the year.

Narendra Modi to launch ‘Transparent Taxation - Honouring the Honest’ platform tomorrow

The virtual event will be witnessed by various chambers of commerce, trade associations, chartered accountants’ associations and “eminent” taxpayers, the statement issued on Wednesday said

June industrial output shrinks 16.6%

India’s industrial output fell 16.6% year-on-year in June, shrinking for the fourth month in a row, though the monthly measure indicated some recovery

Debt revamp to prolong banks’ asset quality uncertainty: Fitch

‘Scheme may be designed to give lenders more time to build capital buffers’

Centre releases ₹6,195 cr to 14 States

They get grants-in-aid to cover deficit on post devolution revenue

Data | Government's tax revenue records sharp downfall, expenditure increases

Fiscal deficit widens to 83% of the year's target in the very first quarter; GST dropped 41% y-o-y

Balance of payments will be strong this year, says Goyal

Minister cites green shoots in economy, says exports have shown turnaround

Oil climbs on China data, hopes for U.S. package

Aramco bullish on Asian fuel demand

India’s imports from China rise in June and July

India’s imports from China have risen to $5.6 billion in July, climbing for the second straight month, although imports are still down by 24% from

‘Loan recast to aid small firms, retail borrowers’

RBI move to soften virus impact: Crisil

Government looks at mixing biogas with natural gas

Oil Secretary Tarun Kapoor said India is an agricultural economy largely and there is a large amount of agricultural residues available, providing good scope of producing biofuels.

Economy may need stimulus on demand side: Niti Aayog Vice-Chairman Arvind Panagariya

Economist sees growth pick up as a signal for intervention

Nitin Gadkari exhorts industry to identify sectors to boost exports, make India ‘self-reliant’

To boost ‘self-reliant India’ endeavour, Union Minister Nitin Gadkari on August 8 urged the industry to identify the sectors heavily reliant on

‘Timely approval of recast key to avoiding sharp credit cliffs’

Move will help ease liquidity pressure on companies: Crisil

Debt recast may neither help ailing MSMEs nor lenders, says industry body

Viability’s meaning changed due to COVID-19: industry body

RBI sets up panel for stressed loans resolution norms

Names members including ADB’s Gupta, IBA’s Mehta

Reserve Bank of India reveals nation’s mood: Rahul Gandhi

He also said one can expect more bad news on jobs and the country’s economy.

Easy liquidity led to faster monetary transmission: Das

‘Banks passed on 162-basis point rate cuts in 17 months’

Regulator extends debt recast plan for MSMEs

Scheme extended till March 2021

RBI enhances gold loan-to-value ratio to 90%

This is applicable only till March 31, 2021.

RBI keeps key policy rates unchanged

It allows banks to restructure corporate, individual loans

Coronavirus | Worst seems to be over, farm sector to cushion virus impact on economy, says FinMin report

Rise in COVID-19 cases and subsequent intermittent lockdowns make the recovery prospects fragile, the Macroeconomic Report for July, released by the Economic Affairs Department said.

Watch | UAE launches first nuclear power plant

A video on Barakah, Arab world's first nuclear plant

Rising real lending rate roiling RBI rate cuts: report

Resultant fall in credit flow shows GDP contraction: BofA

Euro zone manufacturing returns to growth in July

PMI reveals modest expansion, zone’s first since early 2019

Bank accounts opened under Jan Dhan Yojana crosses 40-crore mark

As per the latest figure, there are 40.05 crore beneficiaries of this scheme and deposits in Jan Dhan bank accounts are in excess of ₹1.30 lakh crore.

Compute tax demand for all assessees by Aug 31, dispose of pending appeals: CBDT chief to taxmen

CBDT chief also set a monthly target of disposing of pending appeals.

Credit guarantee extended to larger firms, self-employed

Scheme with ₹41,600 crore corpus was to help MSMEs.

Govt. to come out with strategic sectors list soon: Finance Minister

She said there could be various models to achieve minimum four PSUs in case of those falling under the strategic sector.

Fiscal deficit touches 83% of full-year target

FY21 fiscal deficit may go as high as 8% of GDP

Eurozone economy contracts a record 12%

Lockdowns devastate 19-country bloc

Centre working with RBI on need for loan restructuring: Nirmala Sitharaman

The Finance Minister also said the decision on reducing GST rates on healthcare and other products will be taken by the GST Council.

U.S. economy shrank at record-breaking 33% rate last quarter

The Commerce Department’s estimate of the second-quarter decline in the gross domestic product, the total output of goods and services, marked the sharpest such drop on records dating to 1947

Rahul Gandhi, Chidambaram slam Modi over state of economy

PM is ruining the country, says former Congress president

Deadline for filing I-T returns extended till Sept 30

The government has extended the deadline for filing income tax returns for financial year 2018-19 by two months to September 30.“In view of the

Fed chief says coronavirus surge starting to dent U.S. economic recovery

The United States “has entered a new phase in containing the virus, which is essential to protect both our health and our economy.”

RBI must continue monetary easing policy, says IMF official

Asia to undergo ‘deeper contraction, protracted recovery’

Data | Two-decade-high GNPA ratio in banks likely by next March as COVID-19 impacts industries

Situation expected to worsen once the moratorium on term loans is lifted post August 31

India’s gloomy outlook darkens, recovery path in doubt: Reuters poll

The outlook for India’s reeling economy has worsened again as business activity slows and COVID-19 infections soar, and will probably prompt the

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