- With Indian Express, now you have choice of subscription products and tenure
- Retail inflation at 8-year high of 7.79% in April
- Gyanvapi survey: Break locks if need be, submit report by May 17, says court
- Let’s not compare economies of Nepal and Sri Lanka
- Why the sedition law must go
- Grief, anger as Kashmiri Pandit govt staffer is killed by militants in valley
As FPI exits hit forex reserves, RBI stepped up gold purchases
RBI’s gold acquisition happened at a time when foreign portfolio investors (FPIs) were exiting India and forex reserves declined by $44.73 billion from $642.45 billion in September 2021 to $597.72 billion on April 29, 2022, as per Reserve Bank data.
Retail inflation at 8-year high of 7.79% in April
High price levels of fuel and food items, especially of vegetables, spices and oils/fats, along with household services, contributed to the sharp rise in inflation, a level which is seen as being partly responsible for preempting the unscheduled repo rate hike of 40 basis points by the RBI last week.
Morgan Stanley: GDP growth to fall to 7.4%; 6% repo by Dec
Within Asia, India would be the economy which will be most exposed to upside risks to inflation, given the higher energy import burden and sustained strength in domestic demand, Morgan Stanley said in its report.
Beating inflation: RBI may have to kill demand, hike rate, suck liquidity
Most of the risks to inflation are seen emerging from the crisis due to the Ukraine-Russia war. The repo rate – the rate at which the RBI lends to banks – was 5.15 per cent in February 2020 before the pandemic.
‘9.99% ethanol blending in petrol’
The ethanol blending programme is aimed at reducing the country's dependence on crude oil imports, cutting carbon emissions and boosting farmers' incomes.
LIC IPO subscribed 2.95 times on final day; spotlight on self reliance: DIPAM
The IPO received bids for 47.83 crore equity shares against IPO size of 16.2 crore equity shares. At the upper end of the price band of Rs 949, the IPO would have garnered around Rs 45,000 crore.
HDFC Bank, BoM, Karur Vysya hike lending rates
The overnight MCLR at HDFC Bank now stands at 7.15 per cent, the one-month rate is at 7.2 per cent, the three-month rate at 7.25 per cent, the six-month MCLR at 7.35 per cent, the one-year MCLR at 7.5 per cent, the two-year MCLR at 7.6 per cent and the three-year MCLR at 7.7 per cent.
Platforms to pay news publishers for content: Canada legislation
Canada’s Online News Act requires digital platforms that have a bargaining imbalance, measured by metrics like a firm’s global revenue, with news businesses to make fair deals, that would then be assessed by a regulator.
Auction or allocation of 28 GHz spectrum: Trai says up to DoT
In its reply to the DoT’s back reference, the regulator said that as was sought by the Department, the Trai has already given its recommendations on auction of spectrum in respective frequency bands including 27.5-28.5 GHz as part of 24.25-28.5 GHz band.
Re drops to record low below 77 level: Imports to get dearer
Making imports costlier, the rupee fell 55 paise during the day to cross the 77 level and touched an intra-day low of 77.58 before closing at 77.46 as against the previous record low of 76.98 registered on March 7. “The rupee fell to fresh all-time lows as the dollar rose broadly against its major crosses.
‘April: Overall biz confidence of India Inc improves’
The Current Condition Index improved to 66.1 from 62.6 in the last survey, while the Expectations Index improved to 68.4 from 64.5.
Banks hike rates: EMIs set to get costlier, lenders’ spread likely to get thinner
The rise in RLLR will lead to an increase in equated monthly instalments (EMIs) on home, vehicle and other personal and corporate loans.
Tax reassessment: I-T has 30 days to send notices
According to the top court’s judgment, the assessing officer will, within 30 days from May 4, provide the respective assesses the information and all relevant material which was relied upon to send the income tax recovery notice to them.
‘Services PMI grows to 5-month high in April’
The seasonally adjusted S&P Global India Services PMI Business Activity Index jumped to 57.9 in April, from 53.6 in March, highlighting a sharp rate of expansion that was the fastest since last November amid mounting price pressures.
US Federal Reserve raises interest rates
The US central bank’s policy-making Federal Open Market Committee on Wednesday voted unanimously to increase the benchmark rate by a half percentage point.
RBI hikes repo rate by 40 bps: Here’s how market analysts, economists, experts reacted
The sudden hike in RBI's key interest rates led to a sharp reaction in the domestic stock market where the S&P BSE Sensex crashed 1,306.96 points (2.29 per cent) to end at 55,669.03 while the Nifty 50 fell to 391.50 points (2.29 per cent) to settle at 16,677.60.
Inflation finally hits RBI, pushes it to raise key policy rate, sudden and sharp
By hiking the Repo rate and CRR, the RBI is aiming to keep inflation – which is already close to 7 per cent — at its desired level and control and monitor money flow into the banking system.
Fino Payment Bank promoters vote out chairman, director
The promoter Fino Paytech, which owns around 75 per cent stake in the bank, has investors like Life Insurance Corporation of India, ICICI Bank, ICICI Lombard, Corporation Bank, Union Bank and Indian Bank.
Defying rising costs, factory PMI kicks off FY23 on robust note
A PMI number greater than 50 shows expansion in business activity, and less than 50 indicates contraction. PMI is a leading indicator, giving analysts a good sense of the direction of a country’s economy. The PMI in manufacturing is obtained based on the results of a survey sent to a set of manufacturing companies.
Jharkhand commercial tax mop-up jumps 26% in FY22
The previous biggest jump in fiscal comparisons happened over FY 18 to FY19 -- an increase of 18.4 percent.
Rs 1.68 lakh crore in April, GST collection soars to all-time high
This marks a 20 per cent increase from the April 2021 level on the back of improved compliance, enforcement action against tax evaders and pick-up in economic activity.
Record share of domestic investors in listed companies
What has been remarkable though, has been the rise of retail within domestic investors, from 6.12 per cent in March 2015 to 7.42 per cent in March 2022.
No polls, no problem for donors: Parties get Rs 648.48 crore of electoral bonds in April
Political parties encashed bonds worth Rs 9,836 crore since 2018
Semiconductor scheme a 20-plus year plan; global companies including India as core focus: Ashwini Vaishnaw
He also spoke about how the government plans to encourage domestic manufacturers to build capacity in this space.
Economy to take till 2035 to overcome Covid losses: RBI
The central bank said the output losses for individual years have been worked out to Rs 19.1 lakh crore, Rs 17.1 lakh crore and Rs 16.4 lakh crore for 2020- 21, 2021-22 and 2022-23, respectively, it said.
Best of Express
IndiaAge cap, Rajya Sabha term limit on Cong table, Chintan Shivir starts today
Opposition leader told me ‘PM twice, what more’, but I can’t rest: Modi
EntertainmentModern Love Mumbai review: Amazon Prime series makes you fall in love with Mumbai, all over again
EntertainmentPratik Gandhi on working with Tanuja in Modern Love Mumbai: 'I couldn't take my eyes off her'
TrendingUS waitress gets $810 as tip on a bill of $48, biggest in her 20-year career
TrendingWatch: 'Land kare de bhai' meme guys recreates paragliding video with Alia Bhatt, here's why
SportsMS Dhoni hints he will be back next season, talks about CSK's 2023 plans
SportsIPL 2022: CSK lose battle of laggards, their playoff hopes end
OpinionLet’s not compare economies of Nepal and Sri Lanka
The cause and effect of rising inflation
LifestyleKriti Sanon enjoys a workout session in the mountains: 'Who needs a gym'
TechnologyAsus Zenbook 14X OLED Space Edition review
Must Read
- SportsMS Dhoni hints he will be back next season, talks about CSK's 2023 plans
- SportsIPL 2022: CSK lose battle of laggards, their playoff hopes end
SportsIndia's Thomas Cup runneth over as Shetty-Rankireddy, Srikanth, Prannoy win against Malaysia- TechnologyAsus Zenbook 14X OLED Space Edition review
TechnologyAndroid 13 beta 2 announced at I/O 2022
TechnologyiPhone 15 could ditch Lightning port for USB Type-C- LifestyleKriti Sanon enjoys a workout session in the mountains: 'Who needs a gym'
Buzzing Now
- TrendingUS waitress gets $810 as tip on a bill of $48, biggest in her 20-year career
- TrendingWatch: 'Land kare de bhai' meme guys recreates paragliding video with Alia Bhatt, here's why
Trending'Amazing jugaad': Wedding hosts in village use thresher as cooling system, win social media
TrendingTriple joy: White tigress in Mysuru Zoo gives birth to three cubs
Trending'Wow, surprise guest': IFS officer meets leopard outside rest house, reminds him of Ruskin Bond's story
May 13: Latest News
Mohali: Panic after men open fire in air in posh Mohali society, one booked
Dalit groom’s procession stone pelted due to ‘boycott’ on lavish weddings, say cops
Home guard volunteer discharged at 58 years, HC issues notice to Chandigarh Admin
Gujarat: AMC issues red alert for May 13 and 14
Over 6 lakh candidates register for CET this year
Atulchandra Kulkarni named new NIA ADG
Mere chargesheet or FIR not ground for impounding passport, says Bombay HC
Diversion of MGNREGA funds: Most of seized Rs 19-crore cash belong to IAS officer, CA tells ED
Father of govt staffer shot dead by militants in Budgam worried over safety of Pandits working in Kashmir
Covid vaccine coverage: Mumbai, Pune top list of districts with most people yet to take second dose