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
US labor market plodding along, but jobs becoming more scarce, ETCFO
The employment report for October will be published days before Americans head to the polls on Nov. 5 to elect a new president By Lucia Mutikani New applications for U.S. unemployment aid unexpectedly fell last week, but the number of people collecting benefits in mid-October was the highest in nearly
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
InterGlobe Aviation likely to slip into red on higher costs, weak rupee
InterGlobe Aviation which operates India’s largest domestic airlines, IndiGo, is expected to swing to a loss in second quarter FY 2025 on flat yields, higher non-fuel costs and impacts of rupees depreciation. Estimates vary with with Prabhudas Lilladher Capital projecting ₹129 crore loss before tax and Motilal Oswal pegging the
Boeing Union Workers Reject Contract
The vote, hours after Boeing reported a $6.1 billion loss, will extend a monthlong strike at factories where the company makes its best-selling commercial plane. Source link
California Tribal Casinos May Sue to Curb City Card Rooms
A new state law allows tribes to file suit against gambling venues they don’t operate, potentially shuttering them and jeopardizing local tax revenue. Source link
I.M.F. Says Inflation Fight Is Largely Over but Warns of New Threats
The International Monetary Fund said protectionism and new trade wars could weigh on growth. Source link
Yellen Rebukes Chinese Lending Practices in Call for Debt Relief
In an interview, the Treasury secretary also highlighted progress at the World Bank and the International Monetary Fund ahead of annual meetings this week. Source link