NEW DELHI/MUMBAI – The Reserve Bank of India is looking at diversifying its foreign exchange reserve investments amid the fall in global interest rates caused by the COVID-19 pandemic, according to two government sources aware of the development. The RBI’s foreign exchange reserves stand at a record $560.63 […]
BENGALURU – Indian shares ended lower on Wednesday as calls for an impeachment of U.S. President Donald Trump rattled investors, with state-owned banks dropping the most. The broader Nifty index ended down 1.28% at 11,440.20, while the benchmark BSE Sensex closed 1.29% lower at 38,593.52. Democrats in the […]
NEW DELHI – The Indian government on Tuesday defended its methodology of calculating the country’s economic growth, countering the argument of a former top economic advisor who said that Asia’s third-largest economy might be overestimating its growth rate. India objectively measures the contribution of various sectors in the […]
NEW DELHI – India’s April-June economic growth rate could be “relatively slower”, Finance Secretary Subhash Chandra Garg said, after Asia’s third largest economy recorded the slowest pace of GDP growth in 17 quarters for the first quarter of 2019. Garg said that India’s growth rate, which has been […]
NEW DELHI – Indian Prime Minister Narendra Modi on Friday surprised markets by naming Nirmala Sitharaman, formerly the defence minister, as the next finance minister on a day data showed that Asia’s third biggest economy grew at its slowest pace in 17 quarters. While the economy grew at […]
NEW DELHI – India probably lost its spot as the fastest growing major economy to China in the January-March quarter as a chill in domestic and global consumer demand hit manufacturers and service providers. The slowing economy didn’t stop voters giving Prime Minister Narendra Modi a landslide victory […]
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