NEW DELHI: The Indian economy is expected to grow at 7% or higher during the current financial year and top the $4 trillion-mark, chief economic adviser V Anantha Nageswaran said on Friday.The growth estimates are higher than the 6.3-6.8% projected in the Economic Survey tabled in Parliament ahead of the Budget.“The first half of the…
MUMBAI: Almost twelve- -and-a-half years after Indian securities markets had plunged into a major payment crisis, curtains are coming down on the National Spot Exchange (NSEL) fiasco. On Friday, NCLT Mumbai allowed a Rs 1,950-crore settlement scheme between NSEL along with its promoter 63 Moons, and the traders who had dues aggregating nearly Rs 4,300…
MUMBAI: The directors of Tata Sons met Friday, over two months after ex-bureaucrat Vijay Singh resigned from the board. The meeting, chaired by N Chandrasekaran, discussed and considered routine corporate matters related to the company and its affiliated entities, said people aware of the matter. Apart from Chandrasekaran, the board consists of five members, including…
MUMBAI: Microfinance must now shift from basic access to delivering long-term income stability for borrowers and a clear pathway to formal credit, the RBI said. The central bank has warned that the sector’s recent regulatory freedom can become a liability if lenders do not uphold responsible conduct.Speaking at a microfinance industry network event during the…
NEW DELHI: India is hopeful of reaching a framework trade deal with the US this year that should address the tariff issue to the benefit of Indian exporters, commerce secretary Rajesh Agrawal said here Friday. While a bilateral trade agreement (BTA) will take time, a framework trade deal will address the reciprocal tariff challenge faced…
MUMBAI: SoftBank-backed e-commerce startup Meesho will focus on making online shopping affordable for more consumers and build the value segment of the market where the opportunity is large rather than going after the quick delivery space, said Vidit Aatrey, co-founder and CEO at the company which is set to get listed on the bourses next…
MUMBAI: Reserve Bank of India has hacked through its regulatory rulebook in what it describes as a once-in-a-generation overhaul, consolidating circulars issued over seven decades of instructions into 244 master directions tailored to 11 categories of regulated entities. The exercise has eliminated 9,446 circulars, some dating back to 1944, replacing a dense and scattered web…
India’s GDP growth has consistently surprised on the upside in the last few quarters. (AI image) NEW DELHI: The Indian economy grew 8.2% in the July-Sept quarter as a strong comeback by the manufacturing sector and robust services activity helped it clock the fastest pace of expansion in six quarters.Strong domestic demand, which drove factories…
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