US consumer prices increased in February amid sticky rental housing costs, but economists are divided on whether rising inflation will be enough to push the Federal Reserve to hike interest…
Category: Economy
RBI allows banks from UK, 17 other countries to open Vostro accounts for rupee trade
The Reserve Bank of India (RBI) has granted approvals to foreign banks in 18 countries to open Vostro accounts to settle international trade in rupees. In July last year, the…
WPI inflation falls to 3.85% in Feb as against 4.73% in Jan
The wholesale price index (WPI) inflation fell to 3.85 per cent in February 2023 from 4.73 per cent in January 2023. WPI inflation saw a nearly 10 per cent drop…
Up to 788% rise! India’s imports from these countries spiked sharply in last 10 years
India witnessed a nearly 22 per cent increase in its import bill to $601.70 billion during the ongoing financial year till January 2023 due to a sharp rise in crude oil…
India to discourage foreign trade settlement in Chinese yuan
India has asked banks and traders to avoid using Chinese yuan to pay for Russian imports, three government officials involved in policy making and two banking sources said, because of…
India’s retail inflation eases marginally to 6.44% in February
Retail inflation in India eased marginally last month but stayed above the Reserve Bank of India’s upper threshold for a second straight month, keeping the central bank on course for…
FATF uses Yes Bank’s Rana Kapoor as case study; says he bought a painting as a bribe for Padma Bhushan
The Financial Action Task Force (FATF) used former Yes Bank Managing Director and CEO Rana Kapoor as a case study for buying art and cultural objects as a vehicle to…
Net direct tax collection reaches Rs 13.73 lakh crore; 83% of revised estimate for FY23
India’s net direct tax collection so far this fiscal grew 17 per cent to reach Rs 13.73 lakh crore, which is 83 per cent of the revised target for the…
India’s fuel demand hits 24-year high in February
India’s fuel demand in February reached a 24-year high. Industrial activity in the country was also boosted by cheap Russian oil. Consumption of fuel rose by over 5 per cent…
India’s inflation seen easing slightly in February, still above RBI target
Retail inflation in India likely eased a bit last month but stayed above the Reserve Bank of India’s upper threshold for a second straight month, keeping the central bank on…