NEW DELHI – India will offer bank loans amounting to 3 trillion rupees ($39.85 billion) to small businesses, Finance Minister Nirmala Sitharaman said on Wednesday, as part of measures to combat the damage caused by the coronavirus outbreak. Under the plan, the government will provide a credit guarantee […]
NEW DELHI/MUMBAI – India laid out a rescue plan for Yes Bank (YESB.NS) on Friday under which the State Bank of India (SBI) (SBI.NS) will take a 49% stake in the troubled lender, which is struggling with bad loans. Indian Finance Minister Nirmala Sitharaman said the restructuring plan […]
MUMBAI – Already at risk from rains, flooding and open sewers, slum-dwellers who live by the ocean in the Indian financial capital Mumbai are vulnerable to rising seas caused by global warming and say the government should help them move to safer locations. Thousands of people, mostly migrants […]
New Delhi, Aug 13: Auto stocks tumbled up to 9 per cent on Tuesday after industry body SIAM reported that automobile sales in India witnessed sharpest decline in nearly 19 years in July, dropping 18.71 per cent, rendering almost 15,000 workers jobless over the past two-three months. Shares of […]
Mumbai, Jun 7: Domestic equity benchmark BSE Sensex fell over 200 points in early trade Friday led by losses in financial stocks amid concerns over the state of the NBFC sector. The 30-share index was trading 211.04 points, or 0.53 per cent, lower at 39,318.68, and the broader Nifty […]
Mumbai, Jun 7: The country’s foreign exchange reserves increased by USD 1.875 billion to USD 421.867 billion in the week to May 31, Reserve Bank data showed Friday. In the previous week, the reserves had risen by USD 1.99 billion to USD 419.99 billion. In the reporting week, foreign […]
NEW DELHI/MUMBAI – Billions of dollars of pre-election spending by the Indian government and political parties in the next two months is unlikely to stop the nation’s economy from slowing further, economists said. Asia’s third-largest economy lost momentum in the final quarter of 2018, as the annual rate […]
New Delhi, Feb 28: India’s economic growth slipped to a 5-quarter low of 6.6 per cent in October-December period of 2018-19, mainly due to poor performance of farm, mining and manufacturing sectors, official data showed Thursday. However, India retained the tag of the fastest growing major economy as China […]
NEW DELHI – India’s economy appeared to be losing momentum in the approach to a general election that must be held by May, as a Reuters survey of economists forecast that growth slipped to 6.9 percent annually in the October-December quarter. If the forecast proves accurate, India will […]
NEW DELHI – India risks missing its budget deficit target for the current fiscal year, data released on Thursday suggested, and economists said the government had already started to cut capital spending in an attempt to narrow the gap. The data showed the fiscal deficit in the April-November […]
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