HDFC Bank further said LIC has been advised by RBI to acquire the aforesaid major shareholding in the bank within a period of one year, i.e., by January 24, 2025

This is because increasing agricultural output without investing in processing facilities can harm farmers' earnings and cause rural distress

Lower fund raise amid widening yield spread, tight liquidity

The Union Cabinet on Wednesday approved Rs 8,500 crore financial incentives for coal gasification projects in three categories

But, no mention of ethanol from cane juice and b-heavy molasses

December saw highest addition of cards in 2023

Banks bid 3.08 trillion against notified amount of Rs 2.5 trillion

Three infrastructure projects of roads and railways worth Rs 9,600 crore have been recommended for approval under the PM Gati Shakti initiative, an official statement said on Thursday. These projects were assessed in the 64th Network Planning Group (NPG) meeting on October 17. "During the meeting, the NPG discussed three proposed greenfield projects of Ministry of Railways (1) and Ministry of Road Transport and Highways (2), with an aggregate project cost worth about Rs 9,600 crore," the commerce and industry ministry said. The meeting was chaired by Special Secretary (Logistics), Department for Promotion of Industry and Internal Trade (DPIIT), Sumita Dawra. The inter-ministerial NPG meets every fortnight and appraises infra projects to ensure multi-modality, synchronisation of efforts, and comprehensive development in and around the project location. The initiative was launched to develop an integrated infrastructure to reduce logistics costs. All logistics and connectivity ...

India may peg its gross market borrowing for next fiscal year at between 15 trillion rupees ($180.47 billion) and 15.5 trillion rupees

Finance Minister Nirmala Sitharaman on Thursday said the government is close to reaching saturation in implementing social sector schemes designed to provide basic necessities to the poor. Addressing the students of Hindu College on the occasion of its 125th anniversary, she said the time has come for India to become economically 'aatmanirbhar' (self-reliant) and march forward to become a developed nation by 2047. Regretting that 60 years since Independence passed without any sense of urgency, Sitharaman said, "we have laid the material foundation for a Viksit Bharat" and empowering people by providing basic necessities to all. Even earlier government had schemes of providing houses, roads etc but the sense of urgency was missing, she said, adding, nearly 50 per cent of the population were devoid of fundamental things 50 or 60 years post independence. "So that's the underlying principle with which between 2014 and today we have done with a sense of urgency. Push the border forward,

Investment firm Brookfield is betting on growth in India, whose economy is outpacing that of other large countries and where smartphone usage is increasing rapidly

The Kerala Government on Thursday criticised the BJP-led Centre's fiscal approach towards the state, noting that the state had to seek a solution to the financial impasse in the Supreme Court. The state government also clarified that only 3.7 per cent of Kerala's own tax revenue comes from alcohol, which is one of the lowest percentages among all states, contrasting with those where it can be as high as 22 per cent. These were part of the customary policy address which was presented before the State Assembly by Governor Arif Mohammed Khan. Khan swiftly concluded the address by reading out only its final paragraph. "My Government places the considered opinion before the Union Government that Kerala should be ensured it's well deserved share in the distribution of taxes. My Government views with concern the holding back of eligible grants and share of assistance in Centrally Sponsored Schemes. "My Government is put to added liquidity stress because of the retrospective cut in borrowi

The nation's economy was supposed to have sunk into recession by now, dragged down by the highest interest rates in two decades and a resulting slump in borrowing and spending. Instead, the US economy has kept chugging along. Even more encouraging, inflation, which touched a four-decade high in 2022, has edged steadily lower without the painful layoffs that most economists had thought would be necessary to slow the acceleration of prices. On Thursday, the Commerce Department is expected to report that the nation's gross domestic product the economy's total output of goods and services rose at an annual rate of around 2 per cent from October through December. That would mark a deceleration from a vigorous 4.9 per cent growth rate in the July-September quarter. But it would still showcase the surprising durability of the world's largest economy, marking the sixth straight quarter in which GDP has expanded at a solid annual pace of 2 per cent or more. Helping fuel that growth has bee

Chief Minister Yogi Adityanath on Wednesday emphasised the transformative role played by the One District One Product scheme in the context of Uttar Pradesh, saying the state's exports under this scheme have touched Rs 2 lakh crore. Adityanath was speaking at an event at the Awadh Shilpgram here after inaugurating a programme to celebrate 'Uttar Pradesh Diwas'. During his address to the attendees of the event, the chief minister highlighted the significance of the Uttar Pradesh Foundation Day as a potent platform for realising Prime Minister Narendra Modi's vision. Speaking about the impact of the One District One Product (ODOP) scheme, launched in 2018, on the state's growth, Adityanath said Uttar Pradesh has so far exported ODOPs worth Rs 2 lakh crore. He also launched the 'ODOP Mart Portal' for e-marketing of ODOP products. He mentioned that 96 lakh MSME units are operational in the Uttar Pradesh, providing employment to 40 lakh people returned to their native places in the st

The rupee settled at Rs 83.12 per Dollar on Wednesday. It moved in a narrow range of Rs 83.07 per Dollar to Rs 83.17 a Dollar in the current week as the RBI and oil companies continue to absorb inflow

States like Tamil Nadu, Himachal Pradesh, Maharashtra, and Telangana reported higher non-tax revenue than others, according to the RBI report on the Finances of Panchayati Raj Institutions.

The Indian economy was witnessing a surge in retail credit growth. The credit growth is led by a well-diversified customer base, with reasonably good financial health conditions

NITI Aayog, Ministry of Agriculture and Farmers' Welfare (MoA&FW), and Food and Agriculture Organization (FAO) of the United Nations on Wednesday jointly launched the 'Investment Forum for Advancing Climate Resilient Agrifood Systems in India', an official statement said. The initiative aims to develop an investment and partnership to advance climate-resilient agrifood systems among the government, private sectors, and farmers' organisations, and financial institutions in India, it said. Delivering the keynote address at the inauguration, NITI Aayog Member Ramesh Chand emphasised on the need for awareness on how agriculture contributes to climate change, citing a contribution of a little more than 13 per cent of the total greenhouse gas emissions in the country. He observed that agriculture could play a role in carbon sequestration through tree plantation on farmland. Chand also called for a new direction in economic analysis of agriculture production, considering the impact on ...

Coffee shipments from India declined 5.4 per cent to 3.77 lakh tonne in 2023 due to a fall in the shipment of Robusta coffee, according to the official data. The country had exported 3.98 lakh tonne of coffee in 2022. India, Asia's third-largest producer and exporter, grows Arabica and Robusta variety of coffee. Arabica coffee bean has lesser caffeine content than the Robusta. Arabica has a sweet and smoother taste, while the Robusta is generally more bitter and harsher on the taste buds. According to the Coffee Board of India's latest data, export of Robusta coffee bean declined 15 per cent to 1.87 lakh tonne in 2023, from 2.20 lakh tonne in the previous year. However, the shipment of Arabica coffee bean rose 5.79 per cent to 46,869 tonne in 2023 from 44,302 tonne in the previous year. Even Instant Coffee exports rose 6.68 per cent to Rs 1.42 lakh tonne as against 1.33 lakh tonne in the said period, as per the data. In terms of value, total coffee exports were at Rs 9,580.58 cr

India, the world's third-biggest carbon dioxide emitter, is seeking to rapidly expand its use of nuclear power over the next decade as it aims to both decarbonize and meet rising energy demand