World Bank slashes global growth forecast to 2.4 per cent

The World Bank Group President Jim Yong Kim has slashed its 2016 growth forecast by 0.5 per cent to 2.4 per cent and said it is critically important for governments to pursue policies that boos economic growth and improve the livelihood of those living in extreme poverty. The cut in forecast was due...

SBI merger with associates to boost market share: Bhattacharya

State Bank of India's merger with its five subsidiaries will strengthen and boost its market share exponentially. This was stated by SBI chief Arundhati Bhattacharya in Jaipur yesterday. She said, SBI will be three times bigger than its nearest competitor once the merger take place. Ms. Bha...

RBI keeps key policy rate unchanged

Reserve Bank of India governor Raghuram Rajan today kept key policy rates unchanged. So the RBI's short-term lending rate, or repo rate, was retained at 6.5 percent, and the Cash Reserve Ratio at 4 per cent. In the bi-monthly monetary policy, the RBI governor said data since the April polic...

Hope transmission of earlier RBI rate cuts will yield effective results: India Inc

Reacting on the RBI Monetary policy, Industry Body FICCI said, the RBI has maintained status quo on the policy rates and expressed hope that continuous focus of the central bank on improving the transmission of the previous rate cuts into lower lending rates would yield effective results. FICCI Pres...

RBI policy broadly endorses govt estimates on growth, inflation: Finance ministry

The Finance Ministry today said the RBI monetary policy is broadly in line with government's expectations on growth and inflation. In its second bi-monthly policy review for the current fiscal, RBI maintained status quo on interest rate, while pegging economic growth at 7.6 per cent and ret...

India, ADB sign $120 mn loan pact for irrigation in Odisha

Oil prices rise, US benchmark hits 11-month peak

Oil prices surged yesterday, with the US benchmark hitting the highest level in nearly a year. US benchmark West Texas Intermediate for July delivery surged 1.07 US Dollars to 49.69 Dollars a barrel on the New York Mercantile Exchange, the highest close since July 2015. In London, Brent North Sea cr...

India jumps to second position in ease of doing business in GRD Index

India has jumped 13 positions from last year to rank second among 30 developing countries this year on ease of doing business. This was revealed in 2016 Global Retail Development Index (GRDI) which ranks top 30 developing countries for retail investment worldwide. Pick up in GDP growth and better cl...

India ranked 2nd on GRD index on ease of doing business: Study

India has jumped 13 positions from last year to rank second among 30 developing countries this year on ease of doing business. This was revealed in 2016 Global Retail Development Index (GRDI) which ranks top 30 developing countries for retail investment worldwide. Pick up in GDP growth and better cl...

FM asks banks to deal firmly with rising NPAs; Says govt committed to empower banks to tackle bad loans

Finance Minister Arun Jaitley has asked the heads of the banks to deal upfrontly with rising Non Performing Assets (NPAs). Mr Jailtey said government is committed to empower banks more to tackle bad loans. Addressing media in New Delhi after chairing a quarterly performance review meeting with the c...