RBI move to slow down gold loan growth, lead to uptick in delinquencies: Crisil, ETCFO
Mumbai: The Reserve Bank’s recent notification asking financiers to review their gold loan practices can slow down loan growth in the near-term and lead to an uptick in asset quality stress, a domestic rating agency said on Tuesday. “Potentially, this could impact gold loan disbursements during the transition phase and
India wouldn’t be fastest-growing economy if people hadn’t utilised digital infrastructure: Nirmala Sitharaman, ETCFO
Finance Minister Nirmala Sitharaman stated that India wouldn’t have been the fastest-growing economy if the people hadn’t utilized the digital infrastructure. The minister emphasized the role of digital infrastructure in making India one of the fastest-growing economies. “Today, India wouldn’t have been the fastest-growing economy if the people hadn’t utilized
CBIC destroys ₹460 crore worth of drugs, foreign cigarettes, and contraband in SpecialCampaign4.0
The Finance Ministry on Friday said that various wings of the Customs department have jointly destroyed a total of around 49 lakhs cigarettes of foreign origin, around 73 Kgs of NDPS drugs (Heroin, Cocaine, Ganja, Charas, etc), Gutkha/ Pan Masala and eCigarettes. Also read: CBIC urges strict reviews of Govt
RBI deputy governor, CFO News, ETCFO
India’s GDP growth is projected at 7.2 per cent in 2024-25, around 7 per cent in the next fiscal, and after that, there is a strong likelihood that the growth will revert to the 8 per cent trend, said Reserve Bank of India deputy governor Michael Debabrata Patra. He was
Indian ceramic tiles industry thrives domestically but struggles in export markets: ICRA report, ETCFO
The Indian ceramic tiles industry finds itself at a critical juncture, as a recent report by ICRA reveals contrasting trends in the domestic and export markets. While the domestic sector remains strong, accounting for around 64 per cent of the industry’s revenue, exports are showing signs of weakness. This decline
Cash transactions decline rapidly in India as digital payments surge: RBI economist, ETCFO
New Delhi, In the last three years, digital transactions have surged in such a fashion in India that cash usage, which still accounts for 60 per cent of consumer expenditure (as of March 2024) is rapidly declining, according to a paper by the Reserve Bank of India (RBI) economist. Pradip
Maharashtra, Rajasthan, Gujarat lead the millet march, others lag behind
Maharashtra leads the way in millet consumption in the country with a per capita consumption of 39 kg per month, followed by Rajasthan (33 kg), Gujarat (17 kg), Karnataka (13.5 kg) and Tamil Nadu with 11.4 kg. On the other hand, States like Uttarakhand, Chhattisgarh, Arunachal Pradesh, and Telangana show
ITR data shows income inequality has come down, says SBI research report
Decoding Income Tax Return (ITR) data, a research report by the SBI has said that has said that individual income inequality has decreased. “Our analysis shows that there has been a cumulative 74.2 per cent decline in income disparity coverage for those earning up to ₹5 lakhs,” the report prepared
India continues to be world’s largest growing economy: IMF director, ETCFO
The director of the IMF Asia Pacific department, Krishna Srinivasan, revealed that India will continue to be the world’s fastest-growing economy, as long as the country’s macroeconomic fundamentals remain strong. In an interview on Tuesday, he told PTI, “India is expected to remain the fastest-growing economy in the world. We
Government unveils guidelines for seaweed imports to boost coastal economy
The Ministry of Fisheries announced new guidelines for live seaweed imports on Friday, aiming to address seed shortages in its growing seaweed industry and boost coastal economies. The regulatory framework, which includes strict quarantine procedures and biosecurity measures, will allow importers to bring high-quality seaweed germplasm into the country following