The rupee appreciated 7 paise to close at 83 (provisional) against the US dollar on Monday, on softness in the American currency and easing crude oil prices. However, weak domestic markets and foreign fund outflows capped sharp gains, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.01 against the greenback. The unit hit an intra-day high of 82.98 and a low of 83.02. The local unit finally settled at 83 (provisional) against the dollar, higher by 7 paise from its previous close of 83.07. "We expect the rupee to trade with a slight positive bias, positive global equities and a slight correction in the greenback. "However, any bounce back in crude oil prices amid ongoing geopolitical tensions in the Middle East and selling pressure from foreign investors may weigh on the rupee at higher levels," said Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas. Traders may take cues from India's CPI and IIP data. "Headline inflation is expect

India's Unified Payment Interface (UPI) services were on Monday rolled out in Sri Lanka and Mauritius during a virtual ceremony attended by Prime Minister Narendra Modi and the top leadership of the two island nations. Mauritian PM Pravind Jugnauth and Sri Lanka's President Ranil Wickremesinghe joined Modi at the virtual ceremony. The launch of the Indian services in Sri Lanka and Mauritius came amid New Delhi's increasing bilateral economic ties with the two countries. The launch enables the availability of UPI settlement services for Indian nationals travelling to Sri Lanka and Mauritius as well as for Mauritian nationals travelling to India.

The NITI Aayog has prepared a plan for economic transformation of Mumbai, Surat, Varanasi and Vizag and help India become a developed economy by 2047, its CEO BVR Subrahmanyam said on Saturday. He also said the Aayog plans to prepare economic planning of 20-25 more cities, as they are the centre of economic activities. A vision document is being prepared by NITI Aayog for India to become a developed economy of USD 30 trillion by 2047, and it will be released by Prime Minister Narendra Modi. "We used to only prepare urban planning of cities, not economic planning..NITI Aayog has prepared economic planning of Mumbai, Surat, Varanasi and Vizag, for economic transformation of these cities," he said at an event here. Last year, Maharashtra Chief Minister Eknath Shinde had held a meeting with NITI Aayog officials during which steps needed to take the GDP of Mumbai Metropolitan Region (MMR) to USD 300 billion by 2030 were discussed. Subrahmanyam said the Centre had sought views of the ..

The original 'Fragile Five' which also included Turkey, South Africa and Brazil referred to nations perceived to be most at risk due to their heavy reliance on foreign investment to drive growth

The government's licence fee collection from telecom service providers increased 8.23 per cent year-on-year to Rs 5,326 crore, while spectrum usage charge mop up declined about 40 per cent to Rs 836 crore in the September 2023 quarter, according to the latest Trai report. According to the performance indicator report released by regulator Telecom Regulatory Authority of India (Trai), operators' gross revenue (GR) declined by 1.22 per cent to Rs 82,741 crore, but adjusted gross revenue (AGR) increased by 7.43 per cent year-on-year (YoY) to Rs 66,583 crore during the reported quarter. "On a YoY basis, GR decreased by 1.22 per cent, ApGR (applicable gross revenue) increased by 6.74 per cent, and AGR increased by 7.43 per cent in the quarter ended September 2023," the report released on Friday said. Reliance Jio recorded the highest AGR of Rs 24,217.13 crore with a 9.12 per cent year-on-year rise. Bharti Airtel posted the highest AGR growth rate of 10.88 per cent at Rs 19,840.84 crore

Even as the investment exceeded the government's estimate in the previous financial year, progress was not uniform across all schemes

The launch will enable the availability of UPI settlement services for Indian nationals travelling to Sri Lanka and Mauritius, as well as for Mauritian nationals travelling to India

Prime Minister Narendra Modi will distribute more than 1 lakh appointment letters to newly inducted recruits in central government departments on Monday via video conferencing. On this occasion, the prime minister will also lay the foundation stone of Phase-I of the Integrated Complex "Karmayogi Bhavan" here. This complex will promote collaboration and synergy among various pillars of Mission Karmayogi. Prime Minister Modi will distribute more than 1 lakh appointment letters to newly inducted recruits on February 12 at 10:30 am via video conferencing, a statement issued by the Prime Minister's Office (PMO) said. The Rozgar Mela will be held at 47 locations across the country and the recruitments are taking place across central government departments, and state and Union Territory governments are supporting this initiative. The new recruits will be joining the government in various ministries and departments vis-a-vis Department of Revenue, Ministry of Home Affairs, Department of ..

Growth in both corporation tax and personal income tax was more than the asking rate under RE

The central board of trustees (CBT) - the apex decision-making body of the Employee Provident Fund Organisation (EPFO) - was apprised of the rejection of the proposal in its latest meeting on Sat

'While uncertainties are still high, we can be a bit more confident about the economic outlook, because the global economy has been surprisingly resilient,' she said in the speech

The overall CPI probably rose less than 3 per cent for the first time in nearly two years, economists forecast Tuesday's report to show

Union Home Minister Amit Shah on Saturday said the central government can't help the states which empty their treasuries after making unrealistic election promises. All states should prepare their budget taking into account development programmes and social welfare commitments, he said at an event here when asked about the allegation of discrimination against some states in the release funds by the Centre. The governments of West Bengal, Kerala and Karnataka recently held protests in the national capital alleging that they were not given their due share of funds, a charge refuted by the finance minister. Shah said in the white paper, tabled in Lok Sabha, Finance Minister Nirmala Sitharaman has given details about the funds given to the states. "The white paper has details of how much funds we have given to the states, how much more funds we have given than what Congress used to give to every state - be it BJP or opposition ruled," he said at the ET NOW Global Business Summit 2024.

"On the retail side, its technologies, how systems cope and how people behave are the focus areas. So we are not looking at volumes," Sankar said

Bidders will have to disclose deficiencies in the past

He said he's preparing a detailed roadmap to make India third-largest economy

She said the NDA government has the power and vision, which was lacking during the UPA's term

In 2021, the RBI had given full freedom to entities on interest rates to be charged for microloans by lifting the interest rate cap of 24 per cent put earlier

Commerce and Industry Minister Piyush Goyal on Friday said India continues to be a preferred FDI (foreign direct investment) destination despite soaring global interest rates. He said that interest rates rose worldwide including in the US and that led to the flow of capital back in the developed nations. "That was a period where one would have imagined a much deeper impact on the developing economies than what India witnessed, but the strength of demand in India, the strength of opportunities that people saw in India, ensured that we did not see the drastic fall that many of our other peer countries (witnessed)," Goyal said. The total FDI -- which includes equity inflows, reinvested earnings and other capital -- contracted 15.5 per cent to USD 32.9 billion during April-September this fiscal against USD 38.94 billion in April-June 2022. "We continue to have significant FDI coming in...a lot of reinvestment of earnings happened even during this period when ideally I would have though

The state had received investment proposals worth Rs 2.73 trillion for green hydrogen plants from 20 companies at the UP Global Investors Summit in February 2023