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
Govt to soon come out with battery-swapping guidelines for electric buses/cars
The government is finalising battery swapping guidelines for electric buses and cars, in addition to two and three wheelers which are already functional in some of the cities. The Ministry of Heavy Industries (MHI) will take the proposal to the Prime Minister Office (PMO) in the next fortnight for approval.
IMF sees major manufacturing shift towards India & China, CFO News, ETCFO
The International Monetary Fund (IMF), in its latest World Economic Outlook report, has highlighted a significant global shift in manufacturing production towards emerging markets like India and China, as advanced economies lose competitiveness. This trend indicates that emerging economies like India are becoming key players in the global manufacturing landscape.
Poultry industry set for recovery in current fiscal on softening input prices, demand: Report
The Indian poultry industry, which faced challenges in the past couple of years due to volatile market conditions is set for recovery in the current fiscal with prices of inputs such as maize and soyabean stabilising aided by demand growth, according to a report. The CareEdge Ratings anticipates an 8-10
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
RBI Governor Shaktikanta Das, ETCFO
India cannot risk another bout of inflation and the best approach would be to remain flexible and wait for more evidence of inflation aligning durably with the target, Reserve Bank Governor Shaktikanta Das observed in the last meeting of MPC while also noting that the Indian economy presents a picture
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