Prime Minister Narendra Modi on Saturday met members of the Economic Advisory Council (EAC) to the Prime Minister, with discussions focused on ideas and measures to further strengthen the country’s economic growth amid ongoing global uncertainty. The meeting covered reforms aimed towards improving ease of living and ease of doing business. The PM and EAC-PM…
India’s investor base hit a new milestone in June, with the National Stock Exchange of India (NSE) registering over 26 crore unique trading accounts, or client codes. In a press release issued on Friday, the exchange said it added the latest 1 crore accounts in just under four months. Over the past year, more than…
US tech stocks came under heavy pressure on Friday, with semiconductor giants leading the decline as investors grew cautious about artificial intelligence-fuelled valuations and digested stronger-than-expected US jobs data.The sell-off was most severe in the chip sector, where the PHLX Semiconductor Index plunged 10.3%, marking its steepest single-day fall since March 2020. The decline followed…
The impact of the US-Iran conflict is no longer confined to oil markets and geopolitical headlines. It is now finding its way into kirana stores and supermarket aisles, where consumers are switching to smaller packs of everyday goods as monthly budgets are already facing pressure due to rising prices.Companies across categories such as edible oils,…
MUMBAI: Caught between a slowing economy and the risk of a fresh price spiral triggered by the conflict in West Asia, the RBI on Friday left the repo rate unchanged at 5.25%, cut its growth forecast for FY27 and raised its inflation projections, while signalling that the inflation threat could broaden economy-wide beyond fuel and…
MUMBAI: Bonds rallied after govt and RBI announced measures to encourage foreign investment in govt securities on Friday. The yields on benchmark 10-year govt securities (G-Secs) softened to 6.94% in early trades, from 6.99% on Thursday, after the govt said foreign portfolio investors (FPIs) would be exempted from long-term capital gains and withholding taxes on…
NEW DELHI: The Indian economy grew 7.8% in the Jan-March quarter as strong investment, sustained farm production and expansion of the construction and tertiary sector led to a robust demand, offsetting the anticipated adverse impact of the conflict in West Asia.Data released by the National Statistics Office (NSO) Friday with the revised 2022-23 base year…
MUMBAI: RBI has proposed tighter disclosure norms for deposit interest rates while allowing banks to price large deposits based on withdrawal risk, which will be a fourth factor for differential rates. Until now banks were allowed to offer differential rates based on tenor, size, and premature withdrawal conditions. These determine whether deposits qualify as bulk…
MUMBAI: Tata Trusts has demanded petitioner Suresh Tulsiram Patilkhede and his lawyer Katyayani Agarwal withdraw allegations of impropriety over a 37-year-old transfer of 833 Tata Sons shares, seeking Rs 1,000 crore in damages for reputational harm and causing distress. The charitable organisations sent notices to both, saying transfer of shares from Navajbai Ratan Tata Trust…
NEW DELHI: The Centre is ready to take more policy measures to help insulate the economy from the adverse impact of the West Asia conflict and will phase it out instead of rushing with announcements.The focus of these steps will be to ensure that there is enough availability of goods, raw material, inputs and finished…
