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Economy
RBI Cuts Repo Rate BY 25 Basis Points
New Delhi: The Reserve Bank of India has cut the Repo Rate by 25 basis points, taking it down from 5.40% to 5.15%. The Reverse Repo Rate will also get adjusted to 4.90% and bank rate at 5.40 %, accordingly.
The Monetary Policy Committee in…
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Centre Reconstitutes Economic Advisory Council to PM
New Delhi: The Central Government has reconstituted the Economic Advisory Council to the Prime Minister (EAC-PM) for a period of two years with effect from September 26, an official release said.
Dr. Bibek Debroy and Shri Ratan P. Watal…
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RBI Imposes Restriction on PMC Bank’s Operations, Caps Withdrawals at Rs 1,000
New Delhi: In a significant development, the Reserve Bank of India or RBI has put restrictions on the amount depositors of Mumbai-based Punjab and Maharashtra Cooperative Bank (PMC Bank) can withdraw from their accounts with the urban…
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Center Slashes Corporate Tax to 25.17 Percent
New Delhi: In a major relief to the corporate sector, the government of India has slashed the Corporate Tax for Domestic Companies to 25.17 percent from the existing 30 percent. Finance Minister Sitharaman has announced that a domestic…
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Nirmala Sitharaman to Hold Review Meeting with Public Sector Banks
New Delhi: Union Finance Minister Nirmala Sitharaman will hold a review meeting with public sector banks (PSBs) today to discuss a range of issues, including follow up on transmission of monetary policy rates.
Besides, doorstep banking…
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Robust Tax Collections Indicate Odisha Can Weather Economic Slowdown
Bhubaneswar: As the developing nations are staring at an imminent economic slowdown in the coming days due to various reasons, Odisha seems to be doing well and can weather the slowdown on its own with systematic management of resources and…
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Rupee falls sharply Against US Dollar Amid Oil Prices Surge
New Delhi: The Indian rupee today fell sharply against the US dollar as oil prices jumped up after drone attacks on Saudi Arabia's oil infrastructure. The rupee fell to as much as 71.42 a dollar as compared to its previous close of 70.92.…
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Economic Slowdown: Fin Min Prescribes Tonic
New Delhi: Union Finance Minister Nirmala Sitharaman on Saturday announced a new scheme -- Remission of Duties or Taxes on Export Product (RoDTEP) -- to incentivise exporters at an estimated cost of Rs 50,000 crore to the exchequer.
The…
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IMF Explains Why India Suffers Economic Slowdown
New Delhi: On the wake of what looks like the economic slowdown, worst in last 7 years, the International Monetary Fund (IMF) Thursday said India’s economic growth is “much weaker than expected” due to “corporate and environmental…
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Economic Slowdown: Maruti Suzuki Announces 2-day Shutdown of Gurugram, Manesar Plants
New Delhi: Maruti Suzuki today announced to shut down its passenger vehicle manufacturing operations at Gurugram and Manesar plants for two days on 7th September and 9th September 2019. Both days will be observed as no production days.…
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