Industry
217 incubators selected with Rs 916.91 crore approved funding, ET BFSI
New Delhi, In a boost to the domestic startup ecosystem, 217 incubators have been selected with a total approved funding of Rs 916.91 crore under the Startup India initiative (till January 31), the government informed on Tuesday.The government launched the Startup...
India well-positioned to benefit despite global uncertainties: Bernstein, ET BFSI
New Delhi, India's macroeconomic situation has bottomed out, and the country is set to see GDP growth around 6.5 per cent for the year ahead, according to a Bernstein note on Tuesday.Amid geo-political risks like the possibility of a US recession and reciprocal...
S&P Global Ratings, ET BFSI
New Delhi, Showing a resilient economy in the Asia-Pacific region amid global uncertainties, India's GDP will grow at 6.5 per cent in the fiscal year ending March 31, 2026, S&P Global Ratings said on Tuesday.This assumes the upcoming monsoon season will be normal...
How rising gold prices have made India’s sovereign gold bond scheme a liability, ET BFSI
India's Sovereign Gold Bond (SGB) scheme, introduced in 2015, was designed to reduce the country's dependence on physical gold imports and offer investors a secure, interest-earning alternative. However, a sharp and sustained rise in gold prices has turned the scheme...
Is corporate glass ceiling the culprit?, ET BFSI
Gender equality in the corporate world has long been an aspirational goal, one that seeks to manifest in its truest form. The rhetoric on women's empowerment reaches a crescendo every International Women's Day, adorned with carefully curated policies and celebratory...
Bhavnish Lathia assumes charge as Kotak Mahindra Bank’s CTO, BFSI News, ET BFSI
Ashok Vaswani, Managing Director and CEO of Kotak Mahindra Bank, praised Lathia’s contributions to the bank’s technology initiatives over the past three yearsKotak Mahindra Bank on Saturday announced the appointment of Bhavnish Lathia as its new Chief Technology...
India’s business growth dipped in March due to weaker services demand, PMI shows, ET BFSI
Growth in India's overall business activity softened in March as robust manufacturing expansion failed to offset a slowdown in the services sector, a private survey showed on Monday.HSBC's flash India Composite Purchasing Managers' Index, compiled by S&P Global,...
GCCs lead BFSI sector’s record commercial real estate leasing in India in last 3 years, ET BFSI
Mumbai, Led by global capability centres (GCCs), the year 2024 marked a watershed year for the banking, financial services and insurance (BFSI) sector in India's commercial real estate, which leased 13.45 million square feet (sq ft), claiming a 17.4 per cent share of...
Number of startups in India to double to 2.4 lakh by 2030: Report, ET BFSI
India’s startup ecosystem is poised for rapid expansion, with the number of startups projected to double from 1.2 lakh in 2023 to 2.4 lakh by 2030, as per a report by executive search firm Longhouse, The Times of India said.This growth is expected to drive a surge in...
DGGI blocks 357 illegal online gaming websites, attaches 2,400 bank a/cs, ET BFSI
GST intelligence officers have blocked 357 websites of illegal offshore online gaming firms and attached about 2,400 bank accounts, the Finance Ministry said on Saturday. The ministry also cautioned the public against engaging with offshore gaming platforms, even...
Indians lose Rs 4,245 crore in 24 lakh digital fraud cases in first 10 months of FY25, ET BFSI
Digital FraudDigital financial frauds in India reached alarming levels in the first 10 months (April–January) of FY25, with the total amount involved rising to Rs 4,245 crore across 2.4 million incidents, according to data tabled by the Ministry of Finance in the...
Bitcoin falls below $84k as geopolitical tensions rise, ET BFSI
Bitcoin and major cryptocurrencies declined on Friday as escalating geopolitical tensions and concerns over US tariffs dampened investor appetite for risk.Global policymakers struck a cautious tone amid central bank meetings this week, highlighting economic and...
India faces limited impact from US trade policies, but risks remain: UBI Report, ET BFSI
New Delhi: India's economy may be shielded from the full effects of US trade tensions due to its trade balance with the US, but the final impact will depend on the contours of a trade deal between the two nations says a research report by Union Bank of India.As global...
India gold discounts hit 8-month high as record prices curb demand, ET BFSI
Discounts offered on gold in India touched a more than eight-month high this week as demand slumped after spot prices surged past record highs. Indian dealers offered a discount of up to $41 an ounce over official domestic prices, up from up to $39 an ounce last week....
Regulatory, financial hurdles impact India’s clean energy transition: Report, ET BFSI
New Delhi: India’s transition to a clean energy future faces regulatory and financial challenges that could impact its ability to meet the 500 GW non-fossil fuel capacity target by 2030, according to a new report by Primus Partners. The study, titled ‘The Intersection...
Outward remittances see a rise of 20% in Jan ‘25, BFSI News, ET BFSI
Outward remittances saw a 20% rise of nearly USD 2.7 billion~Samriddhi Singh MaharIndia’s outward remittances rebounded from previous declines, sharply to USD 2.7 billion in January 2025 from USD 2.4 billion in December 2024, a nearly 20% increase. This brings...
Global debt exceeds $100 trillion as interest costs keep rising, OECD says, ET BFSI
Outstanding government and corporate bonds globally exceeded $100 trillion last year, the OECD said on Thursday, with rising interest costs leaving borrowers facing tough choices and needing to prioritise productive investments.While central banks are cutting interest...
RBI bulletin, BFSI News, ET BFSI
Mumbai: India's energy efficiency improved by 1.9 per cent between 2000 and 2023, which is faster than the global average of 1.4 per cent, according to a study carried out by an RBI research team. The report also stated that India was far ahead of the other BRICS...
Govt’s divestment plan to push fundraising activities in FY26: Emkay Global, ET BFSI
New Delhi, The government's divestment plan is likely to provide a push to fundraising in FY26 as the recent market correction has slowed down deal-making activity, Emkay Global Financial Services said on Thursday. Addressing a webinar on the state of affairs of the...
Advanced economies ahead of Gulf nations in remittance to India, Maha top recipient: RBI survey, ET BFSI
The sixth round of the survey on India’s remittances for 2023-24 highlighted a shift in the dynamics of India’s diaspora, with advanced economies emerging as dominant source countries over the Gulf Cooperation Council (GCC) nations, according to the RBI...
96% of senior Indian executives expect higher financial crime risk in 2025: Kroll Survey, ET BFSI
About 96% of senior executives in India’s financial and professional services sectors anticipate a rise in financial crime risks in 2025, significantly higher than the global average of 71%, reveals Kroll’s 2025 Financial Crime Report. Cybersecurity threats and...
Allianz SE eyes partnership with Jio Financial after ending 24-year tie-up with Bajaj, ET BFSI
Allianz SE is stepping up efforts to forge an alliance with Mukesh Ambani-led Jio Financial Services (JFSL) for a second stab at the domestic life and general insurance market, said people in the know. This follows Monday’s announcement that it was ending its 24-year...
Services trade surplus, robust forex to keep India’s current account in safe zone: Crisil, ET BFSI
New Delhi, The surplus in services trade and robust flow of remittances in India provide a cushion and should keep the current account in the safe zone, a new Crisil report has said."We project current account deficit at 1 per cent of the gross domestic product in...
Fitch revises India’s growth forecast to 6.5% in FY25-26 and 6.3% in FY26-27 due to global trade war, ET BFSI
New Delhi [India] March 19 (ANI): Fitch Ratings has revised India's growth rate for FY25-26 to 6.5 per cent and to 6.3 per cent for FY26-27 in its March Edition of the Global Economic Outlook because of the US-imposed global trade war. However, the report adds that...
India’s BoP to remain negative for the year, but the magnitude would be lower: Report, ET BFSI
New Delhi [India], March 19 (ANI): Despite improvements in the current account deficit, muted net foreign direct investment (FDI) and continued outflow of foreign portfolio investment (FPI) suggest that the overall balance of payments (BoP) will continue to face...
Despite global turbulence Increased public spending is likely to drive economic activity in India: CareEdge, ET BFSI
Additionally, the government is actively working on a trade agreement with the US to secure tariff reductions for Indian exports while offering concessions where necessary.While corporate performance remains below par, key factors such as recovering rural demand,...
SC relief for former IAS trainee Puja Khedkar; interim protection from arrest extended, ET BFSI
Former Indian Administrative Service (IAS) trainee officer Puja Khedkar got relief from the Supreme Court on March 18, with the top court extending its interim order protecting her from arrest. Khedkar is accused in a document forging case, which she allegedly did to...
Gold, silver rally Rs 1,300 to hit record levels in Delhi amid strong global cues, ET BFSI
Gold and silver prices hit fresh record levels on Monday, rallying Rs 1,300 each, tracking strong trends in the global markets amid uncertainty over US tariffs, trade tensions and growing expectations of monetary policy easing by the Federal Reserve. According to the...
How macroeconomic indicators performed in February 2025?, ET BFSI
State of the Economy: How macroeconomic indicators performed in February 2025? ~Samriddhi Singh Mahar & Siddhi NawarThe month of February saw various shocks in the market with the announcement by US president Donald Trump that he plans on imposing taxes (around...
India shouldn’t lose sleep over looming US reciprocal tariffs thanks to new routes: SBI, ET BFSI
India’s exports to the United States may decline by 3-3.5% if Washington proceeds with reciprocal tariffs, but the impact is expected to be offset by higher outbound trade, according to a report by SBI Research released on Monday."The decline in exports from India to...
India’s innovations transforming global health and agriculture: Bill Gates, ET BFSI
In a LinkedIn post, Gates reflected on the Bill & Melinda Gates Foundation's longstanding partnership with India.NEW DELHI: Microsoft co-founder and philanthropist Bill Gates has praised India's significant role in global health and agriculture, highlighting the...
Wholesale Inflation accelerates to 2.38% in February from 2.31% in January, ET BFSI
By Siddhi NawarIndia’s Wholesale Price Inflation (WPI) in the month of February stood at 2.38%, accounting for an 8-month-high after June 2024, according to data released by the Ministry of Commerce and Industry. India’s WPI inflation eased to 2.31% in January 2025,...
AI’s role in modern markets could lead to collusion, says CCI chief, ET BFSI
New Delhi, Artificial Intelligence (AI) is transforming markets and business operations, but it also poses risks, including the potential for enabling collusion and discrimination, Ravneet Kaur, Chairperson of the Competition Commission of India (CCI), said on...
India sees record deal activity in February at USD 7.2 bn, ET BFSI
New Delhi: India witnessed a record-breaking surge in deal activity in February, with 226 M&A and private equity deals totaling USD 7.2 billion -- the highest monthly deal volume in the last three years, according to the Dealtracker report of Grant Thornton...
India set to become World’s most sought-after consumer market: Morgan Stanley, ET BFSI
New Delhi [India], March 13 (ANI): India is poised to become the world's most sought-after consumer market while undergoing a significant energy transition, rising credit-to-GDP ratio, and expanding manufacturing sector, according to Morgan Stanley's latest report....
Core inflation edged higher because of surge in gold prices; food inflation trend positive: Report, ET BFSI
New Delhi [India], March 13 (ANI): The outlook for core inflation remains positive despite some upward pressure from rising industrial metal prices, according to ICICI Bank Global Markets report.Core inflation edged higher in February, mainly due to a surge in gold...
India well placed to tackle US tariffs; mulling to start infra investing here: Blackstone, ET BFSI
Blackstone chairman Stephen A Schwarzman on Wednesday said India is well placed to tackle the impact of US tariffs and also announced that the private equity giant will be starting its infra investing and credit businesses here. The firm, which has got the best...
Retail Inflation eases to 7-month-low at 3.61 in February, ET BFSI
By Siddhi NawarIndia’s Consumer Price Index (CPI)-based inflation for February 2025 stood at 3.61%, marking the lowest year-on-year inflation rate since July 2024. This represents a significant 65 basis points (bps) decline from January’s 4.31%.India’s Retail...
Public market exits lead with 60% of total exit value, ET BFSI
Public Market Exits~Samriddhi Singh MaharExit activity soared to a record high in 2024, reaching USD 28 billion across 263 deals, with public market exits accounting for 60% of the total. Strong regulations and a robust domestic capital market drove this surge, with...
India’s wholesale inflation likely fell to 2 pc in February from 2.3 pc in January: Report, ET BFSI
New Delhi [India]: India's Wholesale Price Index (WPI) inflation is expected to decline to 2 per cent in February 2025 from 2.3 per cent in January, primarily due to a drop in oil prices and a seasonal decline in food prices, according to a report by Union Bank of...
India’s trade deficit likely narrowed to $21.5 Bn in February from $23 Bn in January: UBI Report, ET BFSI
New Delhi: India's trade deficit likely narrowed to USD 21.5 billion in February, down from USD 23 billion in January, according to a report by Union Bank of India.However, the report also noted that the geopolitical risks, especially concerns over tariffs, will...
India’s GDP growth to surpass 6.5% in FY26, driven by Sitharaman’s tax cuts: Moody’s, ET BFSI
India’s real Gross Domestic Product (GDP) growth is projected to exceed 6.5% in the fiscal year ending March 2026, said Moody’s Ratings in its latest Banking System Outlook – India report, released on Wednesday. The agency attributed this growth to increased...
Cyber fraud cases jumped over four-fold in FY2024, caused ₹175 crore losses: Govt data, ET BFSI
The total number of cases where the amount involved was ₹100,000 or more, jumped to 29,082 from 6,699 the year before, data showed.NEW DELHI: High value cyber fraud cases in India jumped more than four times in fiscal 2024 causing losses of ₹175 crore ($20 million),...
Too early to predict global recession, India may not be impacted much: Economists, ET BFSI
New Delhi [India], March 11 (ANI): There is growing concern that the global economy may be heading toward a slowdown, with some experts even warning about the possibility of a recession. The main reason behind this concern is the recent developments in the United...
India is best placed in Asia, says Morgan Stanley, ET BFSI
New Delhi, Trade tensions will likely remain a drag on Asia's growth but India is still the best placed in the region against this backdrop - low goods exports, strong services exports and policy support for domestic demand, a Morgan Stanley report said on Tuesday.The...
Business expected to surpass Rs 60,000 crore this year, ET BFSI
Representative ImageNew Delhi: Praveen Khandelwal, the secretary-general of the Confederation of All India Traders (CAIT) and BJP MP from Chandni Chowk, stated that, similar to previous years, traders and customers have boycotted Chinese goods during Holi sales this...
GST evasion of ₹1.95 lakh crore detected by CGST officials during April-January: MoS Finance, ET BFSI
Minister of State for Finance Pankaj ChaudharyNEW DELHI: Central GST officials have detected tax evasion of ₹1.95 lakh crore in 25,397 cases in the April-January period of the current fiscal, Parliament was informed on Monday. As per the data shared in the Lok Sabha,...
SBI MF Report, ET BFSI
New Delhi [India], March 10 (ANI): Investments in India are expected to outpace consumption in the financial year 2025-26 (FY26), according to a report by SBI Mutual Fund.The report also highlighted that economic growth is likely to improve gradually in the second...
GST rates to be reduced further, rationalisation on cards: FM Sitharaman, ET BFSI
Union Finance Minister Nirmala Sitharaman has said that Goods and Services Tax (GST) rates will be reduced further as the process of rationalising tax slabs is nearing completion.NEW DELHI: Union Finance Minister Nirmala Sitharaman has said that Goods and Services Tax...
Indian corporates need Rs 120 lakh cr debt by FY30 for Capex and working capital: Crisil, ET BFSI
The corporate in India will need to raise about Rs 115-125 lakh crore in debt between FY26 and FY30 to fund capital expenditure (capex), working capital, and the financing needs of non-banking financial companies (NBFCs), according to a report by Crisil.The report...
30 startups secure over $355 million in funding this week, up 335 pc, ET BFSI
New Delhi, At least 30 startups secured more than $355 million this week, which included three growth-stage and 20 early-stage deals.This is stupendous growth of at least 355 per cent from the previous week, when the domestic startup ecosystem witnessed $105.87...
What BFSI firms are offering women on their special day, ET BFSI
Financial institutions across India are marking International Women’s Day 2025 on March 8 with a range of initiatives aimed at empowering women through financial inclusion, entrepreneurship, and healthcare support. From collateral-free loans to women-centric credit...
How BFSI leaders are redefining tech strategy, ET BFSI
As digital transformation accelerates, industry leaders are focusing on breaking down silos, harnessing data effectively, and mitigating evolving threats while addressing critical challenges such as talent shortages and regulatory complexities.At the ETBFSI CIO...
Agentic AI reshaping BFSI services with intelligent automation, say tech leaders, ET BFSI
Agentic AI is emerging as a game-changer in financial services, enabling intelligent automation, personalised engagement, and data-driven decision-making.From frictionless onboarding to predictive analytics, the integration of Agentic AI is expected to drive the next...
India’s retail inflation may ease to 4.1 pc in February, food prices remain a concern: BoB Report, ET BFSI
India's retail inflation may ease to 4.1 pc in February, food prices remain a concern: BoB ReportNew Delhi [India], March 7 (ANI): India's consumer price inflation (CPI) is expected to decline to 4.1 per cent for February 2025, according to a report by the Bank of...
New Sebi chairman vows to introduce framework for board members to reveal conflict of interest, ET BFSI
Capital markets regulator Sebi's new chairman Tuhin Kanta Pandey on Friday promised to come out with a framework where Sebi board members will have to reveal conflict of interest to the public. Addressing his maiden public event, Pandey, who took charge as the Sebi...
India’s economic growth pegged at 6.5% for FY26 despite Trump tariff threat: CRISIL, ET BFSI
India’s real GDP growth is projected to remain steady at 6.5% in fiscal 2026, despite ongoing uncertainties due to geopolitical shifts and the trade-related tensions stemming from US tariff actions, according to a report released by CRISIL.Key drivers of growth...
Deutsche Bank Research, ET BFSI
New Delhi [India], March 6 (ANI): The private sector is now driving a once-in-a-generation capital expenditure (capex) boom, primarily fuelled by the growing global demand for artificial intelligence (AI) technologies, according to a report by Deutsche Bank...
India needs innovative cybersecurity strategies to protect its digital infra: UIDAI director, ET BFSI
SMD Jeelani, Director of operations of UIDAI inaugurates the SISA's Cybersecurity Centre of Excellence Lab at Dayananda Sagar University (DSU) in Bengaluru on Wednesday. India must develop innovative strategies and nurture young talent to protect its digital...
India’s social security coverage doubles to 48.8 pc: Minister, ET BFSI
New Delhi, Social security coverage in India has doubled from 24.4 per cent to 48.8 per cent, said Union Minister for Labour & Employment and Youth Affairs & Sports Mansukh Mandaviya.Addressing the post-budget webinar on the theme 'Investing in People',...
Govt to walk the talk on 70pc women in workforce by 2047: Labour Secretary, ET BFSI
The government will walk the talk on Viksit Bharat by 2047 with 70 per cent women in the workforce, Union Labour Secretary Sumita Dawra said on Wednesday as she highlighted the importance of mentorship for women entrepreneurs. Addressing a CII conference on women in...
India’s Services Sector records strong growth in Feb as PMI hits 59.0, ET BFSI
By Siddhi NawarIndia's service sector experienced robust expansion in February, with the Purchasing Managers' Index (PMI) rising to 59.0, a significant improvement from January’s 26-month low of 56.5, according to an HSBC report. This growth was fueled by strong...
Govt charts new export growth strategy at NITI Aayog’s post-Budget webinar, proposes ₹2250 cr initiative, ET BFSI
Prime Minister Narendra ModiNEW DELHI: As part of the post-Budget webinar on the Union Budget 2025-26, organized by NITI Aayog, various outreach sessions on Theme 3 comprising of discussions on the topics - Manufacturing, Exports and Nuclear Energy Missions, were held...
93 pc women entrepreneurs show strong financial discipline, 81 pc operate independently: Report, ET BFSI
Mumbai, About 93 per cent of women entrepreneurs exhibit a strong financial discipline, actively managing their finances, keeping meticulous records, and ensuring timely payments, a new report said on Wednesday.Women entrepreneurs believe that financial awareness and...
Premium valuations, Q3 misses bite new-age stocks in gloomy market as scrips fall over 50% in 2025, ET BFSI
Reality has come to bite new-age stocks as they witness freefall in a gloomy market. So far in this year, they have fallen by over 50% as D-Street comes to terms with valuation and Q3 earnings misses.One Mobikwik Systems, a fintech company which offers digital wallet...
Indian startups raise USD 1.65 bn in Feb; median valuation at USD 83.2 mn, ET BFSI
New Delhi, Indian startups raised a total of USD 1.65 billion (about Rs 14,418 crore) in funding at a median valuation of USD 83.2 million in February 2025, according to data from Tracxn. This brings the total funding in FY25 (April-February) to USD 25.4 billion,...
India likely to clock steady GDP growth of 6.5 pc in 2025-26: Crisil, ET BFSI
New Delhi, India's GDP growth is expected to be steady at 6.5 per cent in fiscal 2025-2026 with the upcoming monsoon season likely to be normal and commodity prices to remain soft.Private consumption is expected to recover further, while investment growth hinges on...
IMF highlights structural reforms as key to strengthening India’s growth amid global challenges, ET BFSI
India can further strengthen its growth potential, even in the context of external headwinds, by advancing its structural reform agenda, says Harald Finger, Assistant Director and Mission Chief for India, Asia and Pacific Department, International Monetary Fund in an...
Inputs sought from IMF, World Bank to integrate e-comm data into CPI, ET BFSI
New Delhi:The statistics ministry has started in earnest to integrate e-commerce data into the Consumer Price Index (CPI) by consulting global organisations including the World Bank, the International Monetary Fund (IMF), and the United Nations Statistics Division...
Tax relief in Budget, RBI repo rate cut should keep domestic demand resilient: Report, ET BFSI
New Delhi [India], March 2 (ANI): India's domestic demand is expected to remain resilient, supported by the personal income tax concessions announced in the 2025 Union budget and the repo rate cut initiated by the Reserve Bank of India, S&P Global Market...
India’s GDP to grow at faster pace in Q4; RBI rate cut and businesses at Mahakumbh could aid recovery: Report, ET BFSI
New Delhi [India], March 3 (ANI): India's economy is expected to grow at a much better pace in the fourth quarter of FY25, supported by strong government spending, a recovery in the rural economy, and a likely increase in private investment, according to a report by...
February records Manufacturing PMI of 56.3, lowest since Dec’23, ET BFSI
India’s manufacturing sector in February recorded 56.3, a decline from 57.7 in January. While manufacturing growth was above its long-run average, the rate of growth receded to its lowest since December 2023, according to an S&P Global report. India’s...
Court orders FIR against ex-Sebi chief Madhabi Puri Buch, 5 others, ET BFSI
MUMBAI: A special court here has directed the Anti-Corruption Bureau (ACB) to register an FIR against former Sebi chairperson Madhabi Puri Buch and five other officials in connection with alleged stock market fraud and regulatory violations. "There is prima facie...
HC to Anil Ambani, BFSI News, ET BFSI
Mumbai: The Bombay High Court on Friday raised concerns over the "cut, copy, paste manner" in which banks pass orders declaring accounts as 'defaulter' or 'fraud', and asked industrialist Anil Ambani to approach the RBI against an order of the Union Bank of India...
Retail credit growth slows to multi-year low in January amid shift toward secured lending, ET BFSI
Retail credit growth decelerated to 11.8% in January 2025—the slowest pace since March 2021—compared with 28.6% in January 2024. This decline was driven by weakening demand for unsecured loans, particularly credit cards and other personal loans. Growth in credit card...
Will India’s GDP growth hit 6.5% in FY25? Barclays sees overestimation, ET BFSI
India’s real GDP growth for FY2024-25 has been revised upward to 6.5% year-on-year (yoy) from the earlier estimate of 6.4%, with third-quarter growth accelerating to 6.2% yoy from 5.6% in the previous quarter, according to the latest official estimates. Growth is...
India’s Q3 FY25 GDP growth accelerates to 6.2%, full-year growth pegged at 6.5%, ET BFSI
India's economy in the third quarter (Q3) of FY 2024-25 is projected to expand with a real GDP growth rate of 6.2 per cent, according to the latest data from the Ministry of Statistics and Programme Implementation (MoSPI). This is an increase from the GDP growth of...
Global giants eye India’s GCC boom, unpack key driving factors and challenges, ET BFSI
Representative image.By Siddhi NawarAs India faces geopolitical turmoil and a rupee crisis, its greatest strength—recognized even by global competitors—remains its vast pool of skilled talent. In recent years, the country has solidified its position as a leading hub...
Indian equity benchmarks seen muted ahead of GDP data, BFSI News, ET BFSI
- India's stock benchmarks are set for a muted start on Friday as investors await key GDP data and digest U.S. President Donald Trump's fresh comments on tariffs.The GIFT Nifty futures were trading at 22,542 as of 07:59 a.m. IST, indicating that the blue-chip Nifty 50...
Indian stock market slips for fifth consecutive series for first time in 29 years, end flat, ET BFSI
Mumbai (Maharashtra) [India], February 27 (ANI): Indian stock markets on Thursday ended near the flatline, slipping for the fifth consecutive series for the first time in 29 years.At the close of the trading session today, the Nifty 50 at the National Stock Exchange...
Bandhan Bank, IndusInd Bank, NBFC stocks rally up to 8% as RBI lowers risk weights, ET BFSI
Shares of IndusInd Bank, Bandhan Bank, and non-banking financial companies (NBFCs) surged up to 8% on Thursday after the Reserve Bank of India (RBI) eased risk-weight norms on bank loans to NBFCs, a move seen as a relief for the financial sector.Bandhan Bank climbed...
Leaders on innovating with intelligence, ET BFSI
Financial services firms spent USD 35 billion on Artificial Intelligence in 2023, with projected investments across banking, insurance, capital markets and payments expected to reach USD 97 billion by 2027, as suggested by an industry report. Also, For the BFSI...
India’s Q3 GDP shows upward bias due to high govt spending, improved consumption, ET BFSI
New Delhi, India's GDP growth in Q3 FY25 is expected to show an upward bias and is likely to be in the range of about 6.3-6.4 per cent, primarily driven by increased government spending and improved household consumption during the festive season, experts said on...
Electronic, electrical goods industry should target USD 100 bn exports in next 5-7 yrs: Goyal, ET BFSI
New Delhi, The Indian electronics and electrical industry should look at increasing exports to USD 100 billion over the next 5-7 years, Commerce and Industry Minister Piyush Goyal said on Monday. He said the export volume of electronic goods ranks second in the...
Hornbill Capital submits $200 million bid to invest in Dhan at $1.25 billion valuation, ET BFSI
Hornbill Capital, an India-focused hedge fund anchored by Asian private equity firm Orchid Asia, has entered the race to invest in stock trading platform Dhan, submitting a $200 million bid at a $1.25 billion pre-money valuation, people briefed on the matter said....
GIFT Nifty down 110 points; here’s the trading setup for today’s session, ET BFSI
The markets traded within a tight range throughout the last week and ended nearly half a percent lower, extending the ongoing corrective phase. Looking ahead, the holiday-shortened week is expected to remain volatile due to the expiry of February’s derivative...
Outward remittances see a spike of 19 % in Dec ’24, BFSI News, ET BFSI
In December 2024, outward remittances see a sharp rise of 19%.~Samriddhi Singh MaharIndia’s outward remittances has seen a turn around in its declining trends with a sharp rise to USD 2.4 billion in December 2024 from USD 1.9 billion November 2024, this drop was...
Gold leasing prices surge as banks redirect the precious metal to US, ET BFSI
Indian jewellers are grappling with soaring gold leasing costs, which have more than doubled in just a month due to global supply constraints and trade-related uncertainties.Experts say prices crossing Rs 1 lakh per 10 gram in the near term will largely depend on...
Fin min, BFSI News, ET BFSI
New Delhi: India was implementing seven projects worth $750 million in partnership with the US Agency for International Development (USAID), which has been at the centre of controversy since American President Donald Trump alleged funding for elections in the country....
PM Modi to release 19th instalment of PM-KISAN on Monday, 9.8 cr farmers to get Rs 22,000 cr, ET BFSI
Prime Minister Narendra Modi will on Monday release the 19th instalment of PM-KISAN scheme, transferring around Rs 22,000 crore directly to bank accounts of 9.8 crore farmers, as part of the government's effort to enhance income of the farming community. Under this...
Low investments in cybersecurity expose financial sector to threats: Experts, ET BFSI
Bangkok: Cyberattack vulnerability of Asia-Pacific's financial industry is twice the global average, as investments in cybersecurity have not kept pace with the economic and digital growth in these countries, experts said.These attacks will only increase as...
Project finance shows uptick in Q3 despite higher provisioning fears, ET BFSI
Despite the cautious approach from lenders, project finance approvals showed a marginal improvement in Q3 FY25. RBI’s latest monthly bulletin indicates that the total cost of projects sanctioned by banks and financial institutions during October-December 2024 stood at...
Prime Minister Internship Scheme reopens for applications for round 2 of pilot phase, ET BFSI
The round 2 offers more than one lakh internship opportunities in top companies across more than 730 districts in India.NEW DELHI: The Prime Minister Internship Scheme (PMIS) is once again open for applications with the launch of round 2 of the pilot phase. After more...
Goldman sees gold at $3,300 per ounce, will prices hit Rs 1 lakh per 10 gm in India?, ET BFSI
Goldman sees gold at $3,300 per ounce, will prices hit Rs 1 lakh per 10 gm in India?Gold prices have been on a strong rally, with forecasts indicating a potential rise to $3,300 per ounce, driven by central bank demand, geopolitical uncertainties, and macroeconomic...
PM Internship Scheme Round 2 with over one lakh opportunities open for applications, ET BFSI
New Delhi, The Prime Minister Internship Scheme (PMIS) is once again open for applications with the launch of Round 2 of the pilot phase, the Ministry of Corporate Affairs (MCA) said on Thursday.After more than six lakh applications in Round 1, Round 2 offers more...
India’s economic slowdown is caused by monetary and fiscal tightening; recent measures to drive growth: Report, ET BFSI
New Delhi [India], February 20 (ANI): India's current economic slowdown is not structural but cyclical, primarily caused by monetary and fiscal tightening, says a report by Antique. The report also highlighted that the slowdown in credit growth and reduced government...
India poised to stay world’s fastest growing economy in 2025-26: RBI bulletin, ET BFSI
Mumbai, High frequency indicators point towards a sequential pick-up in momentum of India's economic activity during the second half of 2024-25, which is likely to sustain moving forward, according to the latest RBI monthly bulletin.In a challenging and increasingly...
Around 4000 Indian companies report strong EBITDA growth in Q3FY25: SBI, ET BFSI
Indian companies showed a strong recovery in the October-December quarter (Q3FY25) after two consecutive quarters of negative EBITDA growth, says a report by the State Bank of India (SBI).The report highlights a positive trend in earnings before interest, tax,...
FIEO hails India-Qatar strategic partnership, anticipates boost in trade and investment, ET BFSI
New Delhi, The enhanced strategic partnership between India and Qatar sets the stage for deeper economic cooperation, paving the way for increased trade and investment flows between the two nations, the Federation of Indian Export Organisations (FIEO) said on...
Urban demand slowdown in India is going to be around for some more months, ET BFSI
The ongoing urban slowdown will continue until the first quarter of the Financial Year (FY) 2026, with a revival anticipated to begin in Q2FY26, according to a report by Nuvama. The report highlighted that the sluggish urban demand, which is currently impacted by high...
GDP growth during current fiscal estimated to be 6.3 per cent: SBI research, ET BFSI
Kolkata, The State Bank of India (SBI), in its research, has estimated GDP growth during the current financial year (2024-25) to be 6.3 per cent, assuming that the NSO does not make major revisions to the erstwhile first and second quarter estimates. The report said...
Unemployment rate dips marginally to 6.4% in December quarter: Survey, ET BFSI
The unemployment rate in the December quarter of FY24 was 6.5 per cent. However, the rate stayed flat when compared sequentially.New Delhi, The rate of unemployment among people aged 15 years and above in urban areas dropped marginally to 6.4 per cent in the...
India may face up to 0.6% hit to GDP from Trump’s reciprocal tariffs: Goldman Sachs, ET BFSI
India may face an impact of up to 0.6% of GDP from the US reciprocal tariffs, according to Goldman Sachs, which calculated various scenarios of the tariff imposition."We estimate a potential domestic GDP growth impact of 0.1-0.3pp under different scenarios of increase...
How macroeconomic indicators performed in January 2025?, ET BFSI
By Siddhi Nawar & Samriddhi Singh MaharAs 2025 begins, India finds itself at a crucial juncture, balancing strong economic momentum with emerging economic headwinds. Exports have skyrocketed 67% in a decade, hitting USD 778.21 billion in 2023-24, even as global...
Former CEO Doha Bank highlights strengthening India-Qatar economic ties and FTA prospects, ET BFSI
New Delhi [India], February 18 (ANI): Dr R Seetharaman, Former CEO of Doha Bank and SSDD President, emphasized the growing economic relationship between Qatar and India, highlighting trade expansion, investment opportunities, and the potential impact of the ongoing...
India’s GDP growth expected to touch 6.6 pc in Q3 of 2024-25: Report, ET BFSI
New Delhi, India's GDP is expected to grow at 6.6 per cent in the October-December period of 2024-25, which is slower than the corresponding figure of 8.6 per cent for the same quarter of 2023-24, but remains robust with support from agriculture, government spending,...
AI regulations still in beta phase, BFSI News, ET BFSI
AI-generated representative imageAs Prime Minister Narendra Modi co-chaired the AI Action Summit in Paris last week, various government arms and regulators back home have been busy engaging in policy dialogues on the direction that India should take as an influential...
India will have GDP loss of 50 bps if US applies 20 pc reciprocal tariffs: SBI, ET BFSI
New Delhi [India], February 18 (ANI): In a simulated scenario assessing the potential economic impact of a 20 per cent flat tariff on Indian exports to the United States, the State Bank of India report predicts a loss of 50 basis points (bps) to India's GDP.However,...
IPO-bound NSDL Q3 profit jumps 30% to Rs 86 crore, BFSI News, ET BFSI
NSDL on Monday reported a 30 per cent rise in its consolidated net profit to Rs 85.8 crore for three months ended December 2024. The depository registered a Rs 66.09 crore profit in the year-ago period. The total income rose 16.2 per cent to Rs 391.21 crore in the...
Govt received over 60,000 inputs from citizens towards new Income Tax Bill: FM, ET BFSI
Mumbai, The government received more than 60,000 inputs from the citizens towards the making of the new Income Tax Bill, 2025, Union Finance Minister Nirmala Sitharaman said on Monday.Addressing a post-Budget event here, the Finance Minister said the review of the...
India delivering good returns on investments: Nirmala Sitharaman, ET BFSI
Mumbai: Union Finance Minister Nirmala Sitharaman addresses a press conference, in Mumbai. (PTI Photo/Shashank Parade)Mumbai, Union Finance Minister Nirmala Sitharaman on Monday said India is delivering good returns to investors who are booking profits. Replying to a...
PM, BFSI News, ET BFSI
Times News NetworkNew Delhi: PM Narendra Modi on Saturday said the Centre would soon set up a deregulation commission to ease the compliance burden on society and minimise govt interference."We have ended hundreds of compliances, and now with Jan Vishwas 2.0, we are...
Japanese firms eye India as part of ‘China Plus One’ strategy, ET BFSI
India is poised to attract a significant portion of the capital being redirected from China -- a potential 'Wall of Capital' that could reshape the region's investment landscape.NEW DELHI: Post the Covid-19 pandemic, Japanese companies are eyeing India as a base as...
Impact of US tariff reciprocity on Indian exports likely to be limited: SBI, ET BFSI
The impact of U.S. tariff reciprocity on Indian exports is expected to be minimal, despite concerns over trade restrictions, according to a report by State Bank of India. The report highlighted that even if the U.S. imposes higher tariffs in the range of 15 to 20 per...
Future to be dramatic with far-reaching advances expected in Artificial Intelligence: Prez, ET BFSI
Ranchi, President Droupadi Murmu on Saturday asserted that with far-reaching advances in the fields of artificial intelligence (AI) and machine learning, the future is going to be dramatic. She said the Centre was taking steps to integrate AI into higher education,...
Let Jobs Lead the Way, BFSI News, ET BFSI
This week, as the awe over Chinese AI startup DeepSeek dazzling the world by creating an LLM model rivalling OpenAI at a fraction of cost was just settling down, a news report of Infosys firing 700 employees for failing to clear tests touched a raw nerve across...
India Exim Bank projects merchandise exports to reach USD 124.8 billion in Q4 of FY2025, ET BFSI
Mumbai (Maharashtra) [India], February 14 (ANI): The Export-Import Bank of India (India Exim Bank) has projected India's total merchandise exports for the fourth quarter (January-March) of the Financial Year (FY) 2025 to reach USD 124.8 billion, reflecting a...
Experts at IEW 2025, ET BFSI
Energy affordability is critical to accelerating the transition towards cleaner energy sources, industry leaders and financial experts said at India Energy Week 2025. The panel, “Bridging the Energy Transition’s Investment Gaps,” highlighted that access to favorable...
What’s changed in the Income Tax Bill 2025? Key differences between the old and new tax frameworks, ET BFSI
In a significant step towards modernizing India's tax system, Finance Minister Nirmala Sitharaman introduced the Income Tax Bill, 2025 in the Indian Parliament today.This proposed legislation aims to overhaul the existing framework, simplifying the tax structure and...
Prudential is said to hire Citigroup for $1 billion India IPO, ET BFSI
Prudential Plc has hired Citigroup Inc. to help work on a potential initial public offering of Indian unit ICICI Prudential Asset Management Co., according to people familiar with the subject.A listing could raise about $1 billion, the people said, asking not to be...
Union Bank of India, ET BFSI
New Delhi [India], February 13 (ANI): India's merchandise trade deficit is expected to have narrowed to USD 20.88 billion in January 2025, down from USD 21.94 billion in December 2024, according to a report by Union Bank of India. The report suggested that this...
CPI inflation eases to 5-month-low at 4.31% in January, BFSI News, ET BFSI
India’s Consumer Price Index (CPI) based inflation in the month of January stood at 4.31%, as per data from the Ministry of Statistics and Programme Implementation. A significant decline was observed across both rural and urban areas, bringing relief to consumers.This...
Urban Indians save more but struggle to meet financial goals, survey finds, ET BFSI
While urban Indians demonstrated strong saving habits in 2024, only 30% managed to achieve all their financial goals, according to a new survey by financial advisory firm 1 Finance. The study, which surveyed 406 individuals across major cities like Mumbai, Delhi,...
India offers transparent, comprehensive FDI policy framework for investments: Minister, ET BFSI
New Delhi, India is offering a transparent, predictable and comprehensive FDI policy framework for investments and the 'Investment Friendliness Index of States' is set to be launched this year, the government said on Tuesday.To promote FDI, the government has put in...
Hoping to increase govt-registered startups to 10 lakh in 10 years: Goyal, ET BFSI
New Delhi, Commerce and Industry Minister Piyush Goyal on Tuesday expressed hope that the number of government-registered startups would increase to 10 lakh in the next ten years due to the steps taken to promote growth of these budding entrepreneurs in the country....
India’s deal activity off to a strong start with 217 pacts worth $9 billion in Jan, ET BFSI
New Delhi, India's deal activity started the year on a strong note with 217 agreements worth $9 billion in January, a report showed on Tuesday.Mergers and acquisitions (M&A) and private equity (PE) deals witnessed a 19 per cent increase in volumes over December...
Govt planning to use AI for identifying mule accounts to check cybercrime: Amit Shah, ET BFSI
New Delhi, The government is planning to use Artificial Intelligence to identify 'mule' accounts where cyber fraudsters park swindled funds, Union Home Minister Amit Shah has said. Chairing a meeting of the Parliamentary Consultative Committee for the Ministry of Home...
Gold surges Rs 2,430 to hit lifetime high of Rs 88,500 per 10g amid Trump’s tariff threats, ET BFSI
New Delhi, Gold prices zoomed by Rs 2,430 to hit a lifetime high of Rs 88,500 per 10 grams in the national capital on Monday following firm global trends and a weak rupee, according to the All India Sarafa Association. The precious metal breached the record USD 2,900...
Growth momentum of India’s manufacturing sector continues says FICCI Survey, ET BFSI
New Delhi [India], February 10 (ANI): The Growth momentum of India's manufacturing sector continues with 83 per cent of manufacturers reporting either higher or stable production levels, making this the second-highest index recorded in recent years, according to the...
Trade tensions force FPIs to pull out 7,300cr in Feb, BFSI News, ET BFSI
New Delhi: The exodus of Foreign Portfolio Investors (FPIs) from the equity markets continued unabated, as they withdrew over Rs 7,300 crore (about $840 million) in the first week of this month due to global trade tensions, with the US imposing tariffs on countries...
Indian, ASEAN economies set to deliver robust growth in coming years: HSBC Report, ET BFSI
New Delhi [India], February 10 (ANI): Asia continues to be a key driver of the global economy, with India and ASEAN nations set for strong growth in the coming years according to a report by HSBC.While China and Japan face population declines, India's population is...
India’s total trade to reach USD 1.8 trillion by 2033, growing at 6.4% CAGR: Report, ET BFSI
New Delhi [India], February 9 (ANI): India's total trade is expected to grow at a compound annual growth rate (CAGR) of 6.4 per cent through 2033, reaching USD 1.8 trillion annually, according to a BCG report. A major factor fueling this surge is India's growing...
India on the path to hit record $800 billion in exports in FY25, ET BFSI
New Delhi, India is on the path to achieve $800 billion in exports in the 2024-25 fiscal for the first time, according to the government, signalling a robust economy and continued growth across sectors.According to the Union Commerce and Industry Minister, Piyush...
Uday Kotak, family buy entire Worli Sea Face building, sets new national record, ET BFSI
Billionaire Uday Kotak, the founder of Kotak Mahindra Bank, has bought an entire residential building located on Worli Sea Face for more than Rs 400 crore, setting a new national pricing benchmark while buying out existing residents to consolidate ownership of the...
SIDBI MSME Outlook Survey, ET BFSI
New Delhi: Small Industries Development Bank of India (SIDBI) has launched their first ever MSME Outlook Survey, a quarterly analysis of MSME business sentiment for the October-December 2024 period.The report, based on a pan-India survey of 1,200 MSMEs across...
Tata Power Renewable Energy, Bank of Baroda ink pact for financing rooftop solar projects, ET BFSI
New Delhi, Tata Power Renewable Energy Ltd (TPREL) on Thursday said it has partnered with Bank of Baroda to facilitate financing of residential rooftop solar projects under the PM - Surya Ghar Muft Bijli Yojana. Both the entities have signed a Memorandum of...
How Budget 2025 boosts ARCs with stronger recovery prospects, BFSI News, ET BFSI
Representative ImageThe Union Budget has provided a significant boost to Asset Reconstruction Companies (ARCs) by reducing the tax deducted at source (TDS) on income payable to investors in securitisation trusts. The revised TDS rate of 10%—down from the existing 25%...
Personal loans slow down credit offtake slows in December; gold, agri loans shine, ET BFSI
After experiencing growth rates in the range of 14% to 16% over the past two years, gross credit growth has continued moderating for a few months, reaching 11.2% in December 2024. This deceleration can primarily be attributed to a slowdown in the personal loans and...
India’s service sector records PMI of 56.5, lowest since November 2022, ET BFSI
Indian Service sectorBy Siddhi NawarAfter a strong finish to 2024, India’s services sector began 2025 with a PMI of 56.5, the lowest since November 2022, according to S&P Global data. While growth momentum slowed after December's figures of 59.3, expansion...
UIDAI to launch Aadhar Authentication portal next week, ET BFSI
The Unique Identification Authority of India (UIDAI) will launch a dedicated portal next week to streamline the onboarding process for entities seeking Aadhaar authentication access. The announcement follows the Aadhaar Authentication for Good Governance (Social...
India’s finance ministry asks employees to avoid AI tools like ChatGPT, DeepSeek, ET BFSI
By Sarita Chaganti Singh and Nikunj Ohri NEW DELHI: India's finance ministry has asked its employees to avoid using AI tools including ChatGPT and DeepSeek for official purposes, citing risks posed to confidentiality of government documents and data, an internal...
CPI inflation likely to ease to 4.5 pc in Q4 FY25, 4.8 pc for full FY25: SBI Report, ET BFSI
New Delhi: The country's retail inflation is expected to decline to 4.5 per cent in the last quarter (January-March) of the financial year 2024-25 (FY25), while the overall average inflation for the year is likely to be at 4.8 per cent, according to a recent report by...
Strong growth and stability despite tax cuts, says S&P Global, ET BFSI
New Delhi, India's Union Budget aligns with the expectations of steady fiscal consolidation, reinforcing a positive outlook on the country's sovereign credit ratings, according to a report on Tuesday.The central government revised its fiscal deficit estimate to 4.8...
Indian professionals lead the world in AI adoption, BFSI News, ET BFSI
The integration of AI in the workplace is reshaping careers across India, with 94% of Indian professionals believing that mastering AI skills will accelerate their career growth, a new study by professional education firm Emeritus found.According to the 2025 Global...
India’s Manufacturing PMI elevates to six-month high of 57.7 in January, ET BFSI
Indian Manufacturing IndustryIndia’s manufacturing sector kicked off the year on a strong note, with the Purchasing Managers’ Index (PMI) climbing to 57.7 in January from 56.4 in December. This growth was largely driven by exports, which saw their fastest expansion in...
India’s current account deficit to widen in FY26, GDP to grow by 6.5 per cent: Crisil, ET BFSI
India's economy is expected to grow at 6.5 per cent in the financial year 2025-26 (FY26), slightly higher than the 6.4 per cent growth estimated for the ongoing fiscal year (FY25), according to a report by Crisil.The report suggests that lower inflation and expected...
Indian startups raise $240.85 million this week, Bengaluru leads in funding deals, ET BFSI
New Delhi, Feb 2 (IANS) During the week, 30 Indian startups secured a total of $240.85 million in funding including five growth-stage investments and 20 early-stage rounds.New Delhi, During the week, 30 Indian startups secured a total of $240.85 million in funding...
Budget 2025-26 sets to revolutionise country’s infrastructure landscape: IIFCL MD, ET BFSI
New Delhi, With this year's budget, it is evident that the government has embarked on an ambitious journey to revolutionise the country's infrastructure landscape, India Infrastructure Finance Company Limited (IIFCL) Managing Director PR Jaishankar said on Sunday....
Budget gives Rs 1 lakh crore boost to consumption but is it enough?, ET BFSI
The Union Budget 2024 has given a clear push to domestic consumption, particularly in urban areas, through a more liberal personal tax regime. With taxpayers earning up to Rs 12 lakh now exempt from income tax under the new regime, disposable incomes are set to rise....
Despite govt capex of Rs 54 Lakh cr over 5 years, concern on pvt investment and employment remain, ET BFSI
New Delhi [India], January 31 (ANI): The Indian government has spent over Rs 54 lakh crore on capital expenditure in the past 11 years, according to a report by Systematix Institutional Equities.This includes the budgeted allocation of Rs 11.11 lakh crore for FY25....
Eco Survey 2025, ET BFSI
As India's workforce in low-skill and low-value-added services remains vulnerable to AI, robust enabling institutions are essential to help transition workers to medium- and high-skilled jobs, where AI can augment their efforts rather than replace them."Insuring...
President accorded ceremonial welcome in Parliament, BFSI News, ET BFSI
New Delhi, President Droupadi Murmu was on Friday welcomed in Parliament premises by Vice President Jagdeep Dhankhar, Prime Minister Narendra Modi and Lok Sabha Speaker Om Birla and an official carrying the 'Sengol', adopted as a cultural symbol by the government. The...
UCCI President Prabodh Mohanty ahead of Union Budget 2025-26, ET BFSI
Bhubaneswar (Odisha) [India], January 31 (ANI): Utkal Chamber of Commerce and Industry (UCCI) President, Dr Prabodh Mohanty, on Friday expressed his hope that the upcoming Union Budget 2025-26 will be progressive and target micro, Small and medium enterprises (MSMEs)...
Digital fraud, cybercrime, deepfake are serious challenges: President Murmu, ET BFSI
New Delhi, The budget session of Parliament has begun with President Droupadi Murmu addressing the joint sitting of the two Houses on Friday. In her address, she underlined the growing threats posed by digital fraud, cybercrime, and deepfake technology. She reaffirmed...
Microenterprises seek faster loans, simpler rules, and higher GST exemption in budget 2025, ET BFSI
New Delhi [India], January 30 (ANI): As the Union Budget 2025 nears, India's microenterprises comprising 98.5 per cent of the MSME sector are calling for easier access to credit, reduced compliance burdens, and a more supportive policy environment. Given their...
Ashwini Vaishnaw praises DeepSeek’s low-cost AI, compares it with own investment approach, ET BFSI
IT minister Ashwini Vaishnaw has praised Chinese startup DeepSeek for shaking up the sector with its low-cost AI assistant, likening its frugal approach to his government's efforts to build a localized AI model.India announced a $1.25 billion AI investment in March,...
India’s economy set to slow this year, says Moody’s Analytics, ET BFSI
India faces a challenging 2025; growth is slowing, the rupee looks set to tumble against the greenback, and headline inflation is far from the midpoint of the central bank's target range, according to Moody's Analytics"Overall, India is facing a bumpy road in 2025. A...
India’s economy set to slow this year, says Moody’s Analytics, ET BFSI
India faces a challenging 2025; growth is slowing, the rupee looks set to tumble against the greenback, and headline inflation is far from the midpoint of the central bank's target range, according to Moody's Analytics"Overall, India is facing a bumpy road in 2025. A...
Most industry leaders express optimism for India’s economic landscape: Report, ET BFSI
Most industry leaders believe that for the financial year 2025-2026, India’s economic growth would surge by 6-6.9 per cent, a recent pre-budget survey by global agency Grant Thornton revealed.Almost 22 per cent of the respondents expressed more optimism, forecasting...
India’s economy faces slowing growth, volatile trade ahead of new financial year, ET BFSI
Representative imageNew Delhi: Indian Prime Minister Narendra Modi may seek to arrest slowing economic growth in the world's fifth-largest economy and prepare for an uncertain year of global trade when his government presents the federal budget on Feb. 1.Economists...
Budget 2025 to focus on rural development, youth, women empowerment and job creation: Yes Bank, ET BFSI
Budget News: The upcoming Union Budget for FY26 is expected to focus on rural development, youth and women empowerment, fine-tuning the Employment Linked Incentive Scheme, and enhancing the skilling program according to a report by Yes Bank. Additionally, capital...
How DeepSeek can foster innovation in Indian AI sector, BFSI News, ET BFSI
India’s ambition to become a leader in artificial intelligence (AI) development faces challenges as the US imposes export restrictions on high-performance GPUs essential for AI model training.However, the emergence of DeepSeek, a Chinese open-source LLM, trained on...
FICCI pre-Budget survey, ET BFSI
New Delhi, India Inc. is optimistic about the growth prospects of the economy and wants the Union government's thrust on capital expenditure (Capex) to continue in the Union Budget 2025-26, according to a survey released by apex business chamber FICCI on...
Move all to new tax regime, increase NPS and insurance exemptions, says SBI Research, ET BFSI
The State Bank of India (SBI) has recommended transitioning all taxpayers to the New Tax Regime while removing most exemptions under the old system in order to rationalise direct taxes and enhance disposable incomes while limiting revenue losses to Rs 50,000 crore or...
Women-centric direct cash transfer schemes costs states Rs 1.5 lakh crore, ET BFSI
Image for representationTo court women voters, political parties across states unveiled women-centric schemes offering direct cash transfers of Rs 1,000 to Rs 2,000 per month. The combined expenditure of these initiatives in eight states amounts to nearly Rs 1.5 lakh...
Nifty, Sensex bleed as Trump announces 25% tariff on Colombia, ET BFSI
Mumbai (Maharashtra) [India], January 27 (ANI): Indian stock markets witnessed a sharp decline during opening on Monday as US President Trump imposed trade tariff on Columbia which dampened investor sentiment.The Nifty 50 index opened at 22,940.15, falling by 152.05...
Lakhpati Didi scheme displayed at Republic Day parade to showcase women’s entrepreneurship, ET BFSI
New Delhi, The Rural Development Ministry's tableau at the Republic Day parade paid tribute to the Lakhpati Didi scheme, which aims to ensure a minimum income of Rs 1 lakh to members of Self Help Groups, at the Kartavya Path, showcasing women's economic empowerment...
Yes Bank appoints Sanjay Abhyankar as new Compliance Officer, BFSI News, ET BFSI
The Board of Directors of the Yes Bank based on the recommendation of the Nomination and Remuneration Committee of the Bank, has approved the appointment of Sanjay Abhyankar as Company Secretary (Key Managerial Personnel) under the Companies Act, 2013 and Compliance...
Indian venture capitalists call for sector-specific funds, AIF support for non-tech MSMEs, and tax breaks in 2025 budget, ET BFSI
India Budget: As the Union Budget 2025-26 approaches, several industry leaders have voiced their expectations for continued support, particularly in areas like venture capital funding, MSME growth, and emerging technologies such as AI and robotics.The startup and...
India business growth slows to 14-month low in January, PMI data shows, ET BFSI
India's business activity during the month of January 2025 witnessed its slowest growth rate in over a year, the HSBC flash India Composite Purchasing Managers' Index (PMI), conducted by S&P Global, showed on January 24. The new data highlights potential...
HSBC Global Trade Head, ET BFSI
Geopolitics has impacted global trade bit global supply chains have evolved over decades with immense complexity, making it nearly impossible to replace manufacturers overnight per se China, said Vivek Ramachandran, Global Head, HSBC Global Trade Solutions. A lot of...
Industry expects host of measures in FM’s Feb 1 Budget to propel growth, ET BFSI
New Delhi, With Finance Minister Nirmala Sitharaman preparing to present the first full Budget of the Modi 3.0 government, industry players from various fields have put forth their demands for raising income tax limits, taking measures for more job creation, and...
Digital economy to grow almost twice as fast as overall economy: MeitY, ET BFSI
India's digital economy is expected to grow almost twice as fast as the overall economy, contributing to nearly one-fifth of national income by 2029-30, the ministry of electronics and information technology said in a report.In under six years, the share of digital...
AI can add $4.4 trillion annually to global economy but digital divide must be addressed: WEF, ET BFSI
Global CEO of JBS Gilberto Tomazoni attends the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 23, 2025. REUTERS/Yves HermanDAVOS: While artificial intelligence (AI) could add $2.6 trillion to $4.4 trillion to the global economy...
Eximius Ventures announces $30 million Fund II for pre-Seed investments, ET BFSI
Eximius Ventures, a pre-seed focused venture capital firm (VC), has announced the launch of its second fund, targeting a corpus of $30 million. Fund II plans to take dedicated bets in 25-30 companies across fintech, artificial intelligence (AI)/software-as-a-service...
Domestic investment announcements cross Rs 37 Lakh Crore in last two years: SBI Report, ET BFSI
New Delhi [India], January 23 (ANI): Domestic investment announcements in India have seen a remarkable surge, crossing Rs 37 lakh crore in the last two fiscal years (FY23 and FY24), according to a report by the State Bank of India (SBI).This represents a significant...
India’s Economy Slows Down Just When It Was Supposed to Speed Up, ET BFSI
India's Economic Promise NEW DELHI -- A year ago, India was bouncing back from a recession caused by COVID-19 with a spring in its step. The country had overtaken China as the most populous country, and its leaders were declaring India the world's fastest-growing...
Indian economy to grow in range of 6.5-6.8% in FY25: Deloitte, ET BFSI
Deloitte India on Tuesday projected India's GDP to grow at 6.5-6.8 per cent in the current fiscal and said India will have to adapt to the evolving global landscape and harness its domestic strengths to drive sustainable growth. In its Economic Outlook report,...
Outward remittances record drop by 19% in Nov ’24, BFSI News, ET BFSI
~Samriddhi Singh MaharIndia’s outward remittances has continued its declining trends with a sharp drop to USD 1.9 billion in November 2024 from USD 2.4 billion October 2024, this drop was majorly driven by a drop in investment and equity. This is nearly a drop of 19%....
Satya Nadella tops HSBC Hurun Global Indians List 2024; global Indian-led companies valued at $10 trillion, ET BFSI
Microsoft CEO Satya Nadella has secured the top spot in the inaugural HSBC Hurun Global Indians List 2024. The cumulative valuation of companies led by individuals featured on the list stands at an impressive $10 trillion.The second position on the list is held by...
Raghuram Rajan in Davos, BFSI News, ET BFSI
Former RBI Governor Raghuram Rajan on Tuesday lauded the Modi government for doing a lot of good work on the infrastructure front in India and hoped there would be some concrete steps in the upcoming Budget to boost the job market. Speaking at a session on the US...
India’s stance on Chinese FDI should be of collaboration with caution: Experts, ET BFSI
India’s economic strategy should prioritise pragmatism, focusing on systemic reforms addressing key systemic issues while balancing foreign direct investment (FDI) with the protection of domestic industries, according to experts participating in panel discussion on...
UIDAI conducts stakeholders meet with BFSI, fintech, telcos to further enhance service delivery, ET BFSI
S. Krishnan, Secretary, MeitY, addresses Aadhaar Samvaad in Mumbai on Monday.MUMBAI: The Unique Identification Authority of India conducted a day-long stakeholders meet in Mumbai on Monday with industry leaders from sectors like BFSI, fintech and telecom to deliberate...
Key women-focused actions during Sitharaman’s tenure, ET BFSI
Union Finance Minister, Nirmala Sitharaman~Samriddhi Singh Mahar Nirmala Sitharaman took office as the first full time female finance minister of India on 31st May 2019. Since then she has overseen various changes to the financial landscape of India, including those...
Union Budget should help in safeguarding India’s trade interests as Trump returns, ET BFSI
The Union Budget for FY26 will be announced at an opportune moment. With the budget being presented in less than two weeks after Trump resumes as the US president, it can serve as a tool to pacify the rhetoric against India’s alleged high tariff structure. Afterall,...
IT companies see recovery signs in BFSI spends uptick, AI boom, ET BFSI
Early signs of uptick in discretionary technology spending in the key vertical of banking, financial services and insurance (BFSI) and rupee depreciation in a seasonally weak third quarter (Q3) of the financial year has brightened prospects for India’s $254 billion...
Axis Capital report, ET BFSI
Generative AI (GenAI) could generate savings of 20-40% in the software development lifecycle, and savings from efficiency gains will likely be ploughed back into the business to chase more tech innovation, according to Axis Capital report. Given that savings are...
Moody’s slashes India’s economic growth forecast to 7% for FY25, ET BFSI
Ratings Agency Moody's on Monday lowered India's economic growth forecast to 7% for the fiscal year ending March 2025, down from 8.2% recorded in the previous fiscal year. This revision comes amidst a broader slowdown in global and domestic economic trends. In its...
Bitcoin soars past $109,000 ahead of possible early action on crypto by Trump, ET BFSI
WASHINGTON - The price of bitcoin surged to over $109,000 early Monday, just hours ahead of President-elect Donald Trump's inauguration, as a pumped up cryptocurrency industry bets he'll take action son after returning to the White House. Once a skeptic who said a few...
Lot of interest in PM Modi’s policies at WEF meeting in Davos, ET BFSI
Union minister Ashwini Vaishnaw on Sunday said there was a lot of interest globally in Prime Minister Narendra Modi's economic policies, which would be the focus of discussions at the World Economic Forum in Davos. Vaishnaw, who is leading the Indian delegation at the...
How macroeconomic indicators performed in December 2024?, ET BFSI
State of the Indian Economy: December 2024By Samriddhi Singh Mahar & Siddhi NawarThe International Monetary Fund (IMF) projects India to become the fourth-largest global economy by 2025, surpassing Japan with a nominal GDP of USD 4,340 billion. The end of the year...
India’s forex reserves fall to $625.87 billion, down by 8.714 billion as of January 10, ET BFSI
India's foreign exchange reserves fell to $625.87 billion, down by $8.714 billion as of the week ending January 10, 2025, the Reserve Bank of India data showed on Friday. The country's forex reserves had dropped by $5.6 billion for the week ending January 3, 2025 and...
India’s fiscal deficit to shrink continuously amid strong tax revenues: World Bank, ET BFSI
New Delhi [India], January 17 (ANI): The fiscal deficit in India is expected to shrink continuously, driven by growing tax revenues, according to the latest World Bank report. The report noted that this trend is anticipated to contribute to fiscal consolidation...
Gen Z splurges on Coldplay tickets; Savings, loans, & credit comes into play, ET BFSI
By Siddhi NawarColdplay's India concertMumbai and Ahmedabad are geared up to witness and host the British band Coldplay this weekend.With the clock ticking and only a few hours left for the ‘Music of the S pheres’ concert in India, social media platforms are buzzing...
Commerce Ministry may seek 5-year extension of interest equalisation scheme for exporters in Budget, ET BFSI
The commerce ministry is likely to seek further extension of the interest equalisation scheme in the forthcoming Budget on pre- and post-shipment rupee export credit for another five years to promote the country's outbound shipments, an official said. The scheme ended...
Commerce Ministry may seek 5-year extension of interest equalisation scheme for exporters in Budget, ET BFSI
The commerce ministry is likely to seek further extension of the interest equalisation scheme in the forthcoming Budget on pre- and post-shipment rupee export credit for another five years to promote the country's outbound shipments, an official said. The scheme ended...
What can you expect on tax front in the Union Budget 2025, ET BFSI
Representative imageAhead of the Union Budget to be presented on February 1, 2025, taxpayers are anticipating significant changes aimed at simplifying tax laws. One key expectation is the fulfillment of promises made in the previous Budget to streamline tax...
Union Budget 2025’s tax dilemma and expectations for Viksit Bharat, ET BFSI
As the Union Budget 2025 draws near, all eyes are on the Government’s fiscal strategy to navigate India’s economic aspirations amidst global uncertainties. In the July 2024 budget, the Government had proposed a comprehensive review and overhaul of the Income-tax Act,...
India to grow by 6.4 pc, and CPI inflation to settle at 4.8 pc in FY25: FICCI, ET BFSI
New Delhi [India], January 16 (ANI): FICCI forecasts India's GDP growth at 6.4 per cent for the financial year 2024-25. This marks a downward revision from the 7.0 per cent projection made in September 2024 and reflects a notable slowdown from the 8.2 per cent growth...
India poised to become world’s 4th largest economy by 2026; GDP to grow 6.8 pc in FY25: PHDCCI, ET BFSI
New Delhi, India's economy is expected to become the fourth largest in the world by 2026, surpassing Japan, said industry body PHDCCI on Wednesday, as it projected the nation's GDP to grow 6.8 per cent in the current financial year ending March and 7.7 per cent in...
Founder of muckraking financial information firm Hindenburg Research calls it quits, ET BFSI
BANGKOK - Nate Anderson, the founder of the muckraking financial information firm Hindenburg Research, says he is disbanding the organization after it finished the pipeline of work it set out to do. Hindenburg, founded in 2017, has a track record of sending the stock...
India poised to become world’s 4th largest economy by 2026; GDP to grow 6.8 pc in FY25: PHDCCI, ET BFSI
New Delhi, India's economy is expected to become the fourth largest in the world by 2026, surpassing Japan, said industry body PHDCCI on Wednesday, as it projected the nation's GDP to grow 6.8 per cent in the current financial year ending March and 7.7 per cent in...
JM Financial appoints Ankur Jhaveri as MD&CEO of institutional equities biz, ET BFSI
New Delhi, Mumbai-based JM Financial on Wednesday said it has appointed Ankur Jhaveri as Managing Director and CEO of its Institutional Equities division under JM Financial Institutional Securities Ltd. Jhaveri will be responsible for strengthening the sales, trading,...
High manufacturing cost led to surge in WPI inflation in December: Report, ET BFSI
The reason for the surge in wholesale inflation in the country in December is due to an increase in manufacturing inflation, according to a report by ICICI Bank.The report highlighted that inflation in manufactured products reached a 23-month high of 2.14 per cent YoY...
GenAI adoption projected to transform nearly 3.8 crore jobs in India by 2030, ET BFSI
New Delhi, The Generative AI (GenAI) adoption is projected to transform at least 38 million (3.8 crore) jobs in India by 2030, driving a 2.61 per cent productivity boost to the economy through gains in the organised sector and additional 2.82 per cent with the...
Global inflation will remain high for years, economists tell Ifo, ET BFSI
Global InflationEconomists expect global inflation to remain high at least until 2028, according to a new survey that may add to market concerns about sticky price pressures.They forecast an average inflation rate of 3.5% in three years, only slightly below the 3.9%...
India’s Wholesale Inflation climbs to 2.37% in December, up from 1.89% in November, ET BFSI
Wholesale inflation in the economy, as measured by the Wholesale Price Index (WPI), rose sharply to 2.37% in December 2024, compared to 1.89% in November 2024, according to data released by the Ministry of Commerce and Industry on Tuesday.Following the Retail...
ways to enhance gender representation in Financial Services, ET BFSI
Traditionally, Banking and Financial Services has been one of the sectors that have seen a higher percentage of working women than some other traditional sectors.Yet, even within the broad gamut of Banking and Financial Services, there are divergences in the...
Angel One appoints Ambarish Kenghe as Group CEO, BFSI News, ET BFSI
Angel One on Monday announced the appointment of Ambarish Kenghe as Group Chief Executive Officer (CEO), a role which he will assume in March 2025.Ambarish is a distinguished technology and product leader with extensive experience in fintech, e-commerce, and consumer...
Rupee depreciation yields limited benefits for exporters: Experts, ET BFSI
Depreciation of the rupee against the US dollar is providing limited benefits to domestic exporters due to the high import content in shipments and uncertainties in the global market, according to experts. While a weaker rupee typically boosts export competitiveness...
Retail Inflation eases to 5.22% in December; food inflation hits four-month low, ET BFSI
Food Inflation in December 2024 hits four month low at 8.39%India's retail inflation eased to 5.22 per cent in December, down from 5.48 per cent in November, according to the Ministry of Statistics and Programme Implementation (MoSPI). This marks a continued decline...
Indian corporates headed for better credit metrics in 2025-26: Fitch, ET BFSI
Mumbai, The credit metrics of rated Indian corporates are expected to improve in the next financial year (April 2025-March 2026) driven by wider EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margins, despite high capex intensity, according...
Fake QR codes, online booking scams may disrupt your holy dip, ET BFSI
Mahakumbh 2025: Fake QR codes, online booking scams may disrupt holy dip The holy city of Uttar Pradesh, Prayagraj, is all set to host one of the world’s largest spiritual gatherings – the Mahakumbh. Maha Kumbh 2025 begin on Monday January 13, a holy day occurring...
India’s inflation likely to stabilize around 4.3-4.7 pc in FY26: Report, ET BFSI
India's inflation likely to stabilize around 4.3-4.7 pc in FY26: ReportNew Delhi [India], January 13 (ANI): Inflation in the country is likely to stabilize at an average of 4.3-4.7 per cent in the financial year 2025-26 (FY26), according to a report by PL Capital. The...
Industry body CII seeks 10-point Ease of Doing Business reforms from Budget 2025, ET BFSI
New Delhi [India], January 12 (ANI): Industry body CII has put forward a 10-point specific suggestion before the central government ahead of Budget 2025, to increase Ease of Doing Business in India.First, the industry body suggested that all regulatory approvals -...
India’s economic growth expected to accelerate in 2nd half of 2024-25: Report, ET BFSI
New Delhi, The Indian economy is expected to pick up growth momentum in the second half of the current financial year with high-frequency indicators such as digital payments, power demand, service PMI, air passenger traffic, rising toll and GST collections suggesting...
Investments in startups rose from $8 bn to $115 bn in last 9 years in India: Govt, ET BFSI
New Delhi, The total number of registered startups in India have surged to 1,57,066 from around 400 in 2016, when the 'Startup India' initiative was launched, with investment in these new ventures jumping to $115 billion, from $8 billion in this nine-year period,...
Draft DPDP rules to push banks to strengthen data privacy measures, ET BFSI
The draft Digital Personal Data Protection (DPDP) rules, requiring explicit customer consent for using data beyond its original intent, are set to redefine data governance in the banking sector. These rules leave no room for regulatory arbitrage, compelling banks to...
India retains title of world’s fastest-growing large economy with growth projected at 6.6 pc: UN, ET BFSI
">"The region is highly vulnerable to the impact of climate hazards, extreme weather events pose a significant risk," it added. "India would again be the fastest growing large economy in the world" with a projected annual growth rate of 6.6 per cent, according to...
SBI MF Report, ET BFSI
New Delhi [India], January 10 (ANI): Government's policy support in the upcoming Union Budget 2025 could play a key role in boosting India's economic growth to approximately 7 per cent in FY26, from an expected 6.3 per cent in FY25, says a report by SBI Mutual...
India consumer inflation likely eased in December: Reuters poll, ET BFSI
By Vivek MishraBENGALURU - Consumer price inflation in India likely fell to 5.3% in December on moderating food price rises, a Reuters poll of economists showed, bolstering expectations for an interest rate cut by the central bank next month amid slowing economic...
India to continue as fastest-growing major economy globally: Report, ET BFSI
New Delhi, India will continue to stand out as the fastest-growing major economy globally in the coming years with growth momentum to improve in 2025 as government spending is picking up again and consumer sentiment stays resilient, according to a Franklin Templeton...
Indian companies sought $2.8 billion in ECBs in Nov: RBI Data, ET BFSI
Indian firms, including Reliance Industries, sought to raise $2.8 billion through external commercial borrowings in November 2024, according to the latest Reserve Bank of India data released on Wednesday. About 82 firms registered with the Reserve Bank of India to...
SBI downgrades India’s GDP growth forecast to 6.3% for FY25 after NSO estimate of 6.4%, ET BFSI
">"Both Manufacturing and Mining is expected to decelerate sharply in FY25 as compared to FY24."The State Bank of India (SBI) has revised its forecast for India's GDP growth in FY25 to 6.3 per cent, slightly lower than the National Statistical Office's (NSO)...
These cash transactions may attract up to 100% penalty by Income Tax department, ET BFSI
The Income Tax Department while acknowledging Indian society’s affinity with cash transactions warned that the Income Tax Act, 1961 discourages cash transactions and will disallow certain deductions, allowances, expenses, etc if made in cash. Moreover, if certain...
Aadhaar based UAN activation to be implemented in mission mode, MoL&E Secretary tells zonal officers, ET BFSI
The meeting was part of ministry’s regular review of work of EPFO with a view to ensure state-of-art IT systems, process re-engineering and simplification to improve the service delivery to over 7.5 crore active members and 78 lakh pensioners.NEW DELHI: Secretary,...
Rubrik CEO Bipul Sinha, ET BFSI
India needs a data protection rule to keep its consumer data safe, but over-regulation has downside risks, Bipul Sinha, chief executive officer of Rubrik, a Silicon Valley cybersecurity company, said. As India becomes compliant with data norms of Europe and the United...
170 million new jobs will be created, 92 million will be displaced by 2030: Report, ET BFSI
Technological advancements, demographic shifts, geoeconomic tensions, and economic pressures are the key drivers of these changesNew Delhi: Farm workers and drivers will figure among the fastest growing jobs over the next five years, while roles of cashiers and ticket...
Per capita nominal GDP in FY25 to grow by Rs 35,000 more than FY23: Economists, ET BFSI
New Delhi, Despite a slowdown in real GDP growth, per capita nominal GDP in India is expected to increase significantly in FY25, by at least Rs 35,000 more than FY23, economists have said.The first advance estimate (AE) of GDP for FY25 by the National Statistical...
Dark clouds loom! Q3 results could mark a downgrade hattrick for India Inc, ET BFSI
The worrisome trend of earnings downgrades in India Inc, which began in Q1 of FY25, could continue to trouble investors for the third consecutive quarter this month as Q3 results start pouring in from tomorrow. The previous two quarters had seen a flood of downgrades...
Bank of Baroda Report, ET BFSI
New Delhi: It may be a subdued growth in the current financial year but the Indian economy is projected to grow by 6.8 per cent in the financial year 2025-26, supported by strong high-frequency indicators, according to a report by Bank of Baroda. The report expects...
International cooperation flatlined, some hope in climate finance, trade: WEF, ET BFSI
New Delhi, Amid heightened geopolitical tensions and instability, international cooperation has 'flatlined', but positive momentum in climate finance, trade and innovation offers some hope, a Global Cooperation Barometer showed on Tuesday. Releasing the annual...
India’s GDP growth seen to slow sharply to 6.4% in FY25 from 8.2% last year, first advance estimate shows, ET BFSI
India's Gross Domestic Product (GDP) is projected to grow by 6.4% in the fiscal year 2024-25, a significant drop from the robust 8.2% growth recorded in FY24, according to government data released on Tuesday. The advance GDP estimate plays a crucial role in framing...
Infra budget should be in line with GDP growth, BFSI News, ET BFSI
NEW DELHI: The budgetary allocation for the infrastructure sector should be in line with the growth in GDP, an expert said.“From a GDP perspective the amount the Union government allocated to the infrastructure sector (in the previous years) brought us close to 3% of...
Bank of Baroda, ET BFSI
CPI inflation likely to moderate to 5% in Dec from 5.5% in Nov: Bank of Baroda ReportIndia's Consumer Price Index (CPI) inflation is expected to moderate to 5 per cent in December 2024 from 5.5 per cent in November, according to a report by Bank of Baroda.The report...
From hike in EPFO pension to Rs 5,000 to constitution of pay panel- what trade unions want from Nirmala Sitharaman, ET BFSI
Budget 2025 news: Trade Unions on Monday pressed for increasing minimum EPFO pension 5 times to Rs 5,000 per month, immediate constitution of the 8th Pay Commission and higher taxes on super rich in the upcoming 2025-26 Budget. In their customary pre-budget meeting...
Economists, BFSI News, ET BFSI
Unified Payments Interface (UPI) transactions averaged Rs 22.8 lakh crore a month in the third quarter, higher than Rs 20.6 lakh crore in the second quarter, according to data from the National Payments Corporation of India (NPCI).New Delhi: Economic growth may have...
RBI’s new weapon against fraudsters, BFSI News, ET BFSI
As mule account cybercrimes continue to rise across India, the Reserve Bank of India has collaborated with fintech research institutions, including the Institute for Development and Research in Banking Technology (IDRBT) in Hyderabad, to create robust solutions. Mule...
With new USD 650 mn war chest for India, Accel eyes AI, consumer, fintech, manufacturing startups, ET BFSI
New Delhi, Global venture capital firm Accel on Monday announced that it has raised a USD 650 million early-stage fund to fuel the next generation of category defining startups in the focus sectors of artificial intelligence (AI), consumer, fintech and manufacturing....
Sterlite Grid 32 refinances ₹2,450 crore MUML project through NCDs, ET BFSI
New Delhi: Sterlite Grid 32 Ltd (SGL32) has refinanced its ₹2,450 crore Mumbai Urja Transmission Limited (MUML) Project through listed Non-Convertible Debentures (NCDs). The NCDs, rated AA+ stable by CRISIL, were subscribed by the National Bank for Financing...
Indian government likely to miss capital expenditure target for FY25: Motilal Oswal, ET BFSI
New Delhi [India], January 6 (ANI): The government may fall short of its capital expenditure (capex) target for the financial year 2025, according to a report by Motilal Oswal. The report stated that the total capital spending by the Centre, budgeted at Rs 11.1...
India’s services PMI rises to 59.3 in December, marking strongest growth in four months, ET BFSI
Representational By Siddhi NawarIndia’s services sector, at the close of the calendar year, displayed strong business optimism driven by a higher rate of expansion, rising from 58.4 in November to 59.3 in December, according to the HSBC Services PMI report. The report...
Refinancing on agenda, Reliance raises dual currency loan of $3 billion, ET BFSI
Mumbai: Reliance Industries (RIL), India's largest corporate by revenues, has raised $3 billion from 11 banks in what is the largest such deal by the company in almost two years.The five-year loan was priced at 120 basis points over the threemonth secured overnight...
Fixed income investments set for growth in 2025 as RBI rate cuts loom, ET BFSI
RBI rate cutsThe year 2025 is expected to see heightened interest in fixed-income investments as the Reserve Bank of India (RBI) is anticipated to initiate a cycle of interest rate cuts. With equity markets consolidating, investors are likely to pivot toward...
India’s forex reserves fall to $640.28 bn, down by $4.1 bn as of Dec 27, ET BFSI
India's foreign exchange reserves dipped by $4.1 billion to $640.28 billion as of December 27, 2024, according to the data shared by the Reserve Bank of India. The country's forex reserves had dropped by $8.4 billion for the week ending December 20 and had settled at...
DPIIT joins hands with Startup Policy Forum to establish India as global innovation hub, ET BFSI
New Delhi, The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with the Startup Policy Forum (SPF) to boost India's startup ecosystem and establish it as a global hub for innovation and entrepreneurship. The partnership aims to empower...
Consumption inequality declining mostly due to direct benefit scheme: SBI Report, ET BFSI
New Delhi [India], January 3 (ANI): India is witnessing a significant decline in consumption inequality across rural and urban regions, according to a report by the State Bank of India (SBI). The report noted that the gap in monthly per capita consumption expenditure...
Montek Singh Ahluwalia, ET BFSI
Government should come up with a clear roadmap to contain fiscal deficit: Montek Singh AhluwaliaNew Delhi [India], January 3 (ANI): Montek Singh Ahluwalia, former Deputy Chairman of the Planning Commission, has raised concerns about India's high fiscal deficit,...
Job creation in India jumps 36 pc in last 10 years vs 6 pc between 2004-2014, ET BFSI
New Delhi, Employment generation across the agriculture, manufacturing, and services sectors saw a significant increase during Prime Minister Narendra Modi's tenure in the last 10 years compared to the preceding decade under the Congress-led UPA government, according...
Improved earnings of Indian corporates set to drive returns in 2025: Report, ET BFSI
New Delhi [India], January 2 (ANI): Indian corporates are expected to witness an improved earnings in upcoming quarter which will drive in retuns in the new year, stated the Mirae Asset Mutual Funds stated in its Annual Market Outlook 2025 report. However, the report...
Sitharaman meets financial-capital market stakeholders ahead of Budget 2025, ET BFSI
New Delhi [India], January 2 (ANI): Finance Minister Nirmala Sitharaman on Thursday met stakeholders from the financial sector and capital markets as part of her series pre-Budget consultations.The meeting was also attended by Finance Secretary, DIPAM secretary, and...
Will the govt be able to meet Rs 11.1 lakh crore capex target for this fiscal?, ET BFSI
The government may not be able to meet its ambitious capital expenditure (capex) target of Rs 11.1 lakh crore for the financial year 2024-25 (FY25), with current spending trends showing a significant slowdown. Data from the Controller General of Accounts (CGA) reveals...
Govt sets up working group to revise WPI base year from 2011-12 to 2022-23, ET BFSI
New Delhi, The government on Thursday said it has constituted an 18-member working group, under the chairmanship of NITI Aayog Member Ramesh Chand, to revise the Wholesale Price Index (WPI) base year from 2011-12 to 2022-23. The revision of the base year helps in...
Bhuvnesh Kumar takes over as UIDAI CEO, BFSI News, ET BFSI
Bhuvnesh Kumar has assumed charge as the Chief Executive Officer (CEO) of Unique Identification Authority of India (UIDAI), an official release said on Wednesday. Kumar also continues to be an Additional Secretary in the Ministry of Electronics and Information...
Why India’s SMEs remain dwarfs? Exploring the economic puzzle?, ET BFSI
The time is ripe for a paradigm shift from merely supporting small firms to enabling their growth into robust engines of the economy.A startling fact is how the bane of dwarfs, which are defined as small firms that never grow beyond their small size, dominates the...
High interest rates, declining export finance impacting exporters’ competitiveness: CII’s Budhia, ET BFSI
New Delhi, Indian exporters are grappling with significant liquidity challenges due to high interest rates and a decline in export finance, which are undermining their competitiveness, according to Sanjay Budhia, Chairman of the CII National Committee on EXIM. To...
Govt’s digital initiatives transforming India’s socio-economic landscape: World Bank, ET BFSI
The World Bank also highlighted India's remarkable strides in social mobility, particularly in urban areas.NEW DELHI: The World Bank in its latest report has recognized India's increasing digital capital as a significant driver of entrepreneurship, business income,...
Core sector output rises to 4-mth high of 4.3% in Nov, BFSI News, ET BFSI
India's core sector output grew by 4.3% in November, touching a four-month high, up from 3.7% in October, official data released on Tuesday showed. "The increase partly reflects the fading impact of heavy rainfall in the earlier months," said Aditi Nayar, chief...
Key insights from industry leaders on achievements in 2024 and outlook for 2025, ET BFSI
VMPLNew Delhi [India], December 31: As 2024 draws to a close, leaders from diverse industries have shared their reflections on the year gone by and their outlook for 2025. The year has seen both resilience and growth across sectors, from real estate to technology,...
India’s April-November fiscal deficit at Rs 8.47 lakh crore, widens on-year to 52.5% of FY25 aim, ET BFSI
India's fiscal deficit for the first eight months of this fiscal year through November stood at 8.47 lakh crore rupees, or 52.5% of annual estimates, government data showed today.The fiscal deficit widened from 50.7% reported in the comparable year-earlier...
RBI warns of crypto risks to financial stability as Bitcoin’s crosses $1,00,000 milestone, ET BFSI
The Reserve Bank of India (RBI) has raised concerns over the potential negative impacts of widespread crypto asset usage, including stablecoins, on macroeconomic and financial stability, according to its latest Financial Stability Report (FSR).The central bank noted...
Geopolitical wins, defence investments, and more, ET BFSI
NEW DELHI: India's economic growth remained resilient in 2024, with projections reflecting a strong trajectory despite global challenges. The finance ministry estimates a 6.5% GDP growth rate for the fiscal year 2024-25, while the World Bank's India Development Update...
IBC reforms focused on liquidation flexibility, enhanced creditor representation, ET BFSI
IBBI’s (Insolvency & Bankruptcy Board of India) latest data shows that Corporate Insolvency Resolution Process (CIRP), a key mechanism under the IBC, has handled 8,002 cases, of which 1,068 concluded with approved resolution plans, as of September 2024.These plans...
Gold set to extend record run; may hit Rs 90,000 in 2025 on global cues, ET BFSI
New Delhi, Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue. Also aiding the run...
India’s digital capital increased entrepreneurship, business income: World Bank, ET BFSI
New Delhi [India], December 31 (ANI): The World Bank in its latest report has recognized India's increasing digital capital as a significant driver of entrepreneurship, business income, and social mobility, especially benefiting small-scale vendors and economically...
CRISIL, BFSI News, ET BFSI
India's current account deficit (CAD) is to remain in a safe zone at approximately 1 per cent of GDP for fiscal 2025, up from 0.7 per cent in the previous year, according to a report by CRISIL.While geopolitical risks will require close monitoring, the strong...
Crypto thefts surge 21% in 2024, North Korean cybercriminals account for over $1.3 billion in stolen funds, ET BFSI
CryptocurrencyIn 2024, crypto funds stolen increased by approximately 21.07% year-over-year (YoY) to $2.2 billion, and the number of individual hacking incidents increased from 282 in 2023 to 303 in 2024.North Korean-linked cybercriminals stole a record $1.34 billion...
Labour reforms, social security for informal workers, transformative policies on cards in 2025, ET BFSI
Speedy implementation of labour codes, providing social security to informal workers, especially gig and platform, and bringing transformative policies would be the government's priority in 2025 to empower all and boost the economy. All 36 states and UTs are expected...
India’s BoP strengthened by robust inflows from NRI deposits, external commercial borrowing in last quarter: Report, ET BFSI
India's Balance of Payments (BoP) saw a significant improvement in the second quarter driven by strong inflows from Foreign Portfolio Investments (FPIs), External Commercial Borrowings (ECBs), and Non-Resident Indian (NRI) deposits, according to a report by Bank of...
India’s CAD stable, foreign financial inflows up: Crisil report, ET BFSI
New Delhi, Even as India's merchandise trade deficit has come under some pressure, robust services exports and healthy remittances flow should help keep the country's current account deficit (CAD) in the safe zone during the current financial year (FY 2024-25),...
Indian firms raise record funds via corporate debt in 2024; seen rising further, ET BFSI
By Dharamraj Dhutia and Siddhi NayakMUMBAI, - Indian companies' fundraising through corporate bonds hit a record high in 2024, aided by declining yields and stronger appetite for long-term notes, and investors expect issuances to remain robust in 2025.Indian firms...
Venture Capital investments in India surge to $16.8 bn in January-November: Report, ET BFSI
Noteworthy deals included KiranaKart Technologies (Zepto) at $1.3 billion and Poolside AI SAS at $500 million.Venture capital (VC) activity in India has witnessed significant growth from January to November 2024, with investments reaching $16.77 billion across 888...
Industry seeks focus on capex, fiscal consolidation, tax rationalistion in pre-Budget meeting with FM, ET BFSI
New Delhi [India], December 30 (ANI): In the pre-budget meeting with Finance Minister Nirmala Sitharaman on Monday, representatives from various industry bodies put forward a bouquet of suggestions before the government.Today was the fifth pre-budget consultation with...
Assocham seeks further ease of doing biz, credit flow for MSMEs, ET BFSI
New Delhi, In order to further empower micro, small and medium enterprises (MSMEs) and ensure ease of doing business, there is a need to establish integrated infrastructure townships and universities to promote skill development and entrepreneurship training as well...
RBI Financial Stability Report, ET BFSI
The Reserve Bank of India (RBI) released the December 2024 Financial Stability Report (FSR), assessing the Indian financial system's resilience. The report, reflecting the assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC),...
What it means for future policy changes, ET BFSI
India's economic growth slowed to 5.4 per cent in the July-September quarter, a seven-quarter low, raising concerns and calls for action. This drop surprised analysts who had predicted over 7 per cent growth and led the Reserve Bank of India (RBI) to lower its growth...
Govt’s bank guarantee waiver for telcos to boost 4G, 5G networks: Vodafone Idea, ET BFSI
Mumbai, The government's decision to waive bank guarantees for the telecom industry has come as a major relief and will help to boost 4G and 5G investments in India, according to telecom major Vodafone Idea.Debt-ridden Vodafone Idea (Vi) stated in a regulatory filing...
Boosted by domestic consumption, India’s economy to achieve up to 7.3% growth in FY2026: Deloitte, ET BFSI
Earlier this month, the Reserve Bank of India cut its growth forecast for the current fiscal to 6.6% from 7.2% projected in June.NEW DELHI: The Indian economy is likely to grow at 6.5-6.8% this fiscal and slightly higher between 6.7-7.3% in FY2026, boosted by domestic...
If FPIs outflows remain constant, India’s Balance of Payments will be neutral for FY25: Report, ET BFSI
India's current account deficit (CAD) widened slightly to USD 11.2bn (1.2 per cent of GDP) in Q2 from USD 10.2bn (1.1 per cent of GDP) in the previous quarter, a report by ICICI Bank Global Markets anticipated.However, there was a Balance of Payments (BoP) surplus of...
From RBI Governor to NSE MD, key appointments of the year, ET BFSI
Key appointments in BFSI sector, 2024By Siddhi NawarIn 2024, India's financial sector witnessed significant leadership changes, marking a transformative period for the nation's economic governance. In the public and private sector, the year was filled with transitions...
India’s current account deficit narrows on-year in July-September, central bank says, ET BFSI
MUMBAI, - India's current account deficit moderated slightly from a year earlier in the July-September quarter, the central bank said on Friday.The current account deficit stood at $11.2 billion, or 1.2% of GDP in the reporting quarter, compared with a revised deficit...
India’s forex reserves fall to $644.39 billion, down $8.4 billion as of Dec 20, ET BFSI
India's foreign exchange reserves dipped by $8.4 billion to $644.39 billion as of December 20, according to data shared by the Reserve Bank of India (RBI) on Friday.For the previous week, India's foreign exchange reserves dropped by $1.98 billion during the week...
Manmohan Singh was a visionary economist with integrity: Raghuram Rajan, ET BFSI
New Delhi, Former Prime Minister Manmohan Singh was a brilliant economist with a visionary outlook on India's potential, combined with a fine sense of political feasibility, former RBI Governor Raghuram Rajan said on Friday. Singh, the architect of India's economic...
India’s growth outlook positive despite new uncertainties for global trade in FY26: Finance Ministry, ET BFSI
New Delhi [India], December 27 (ANI): As the world prepares to welcome a new year, fresh uncertainties have surfaced for global trade in the financial year 2026, according to the November monthly economic review by the Finance Ministry.The report highlighted...
A glimpse of economic administrator, a towering figure Dr Manmohan Singh journey, ET BFSI
A pioneering economic administrator, and statesman Dr Manmohan Singh passed away at the age of 92 on late Thursday. In a statement, All India Institute of Medical Sciences (AIIMS) confirmed his death saying, “With profound grief, we inform the demise of former Prime...
Manmohan Singh, former Prime Minister and hero of India’s economic liberalisation, passes away at 92, ET BFSI
India's former Prime Minister Manmohan Singh passed away at the age of 92 after he was admitted to AIIMS Delhi's emergency department.Singh was brought to the emergency department this evening in a critical condition after "sudden loss of consciousness", AIIMS Delhi...
AI retrieval needs a hybrid approach to scale, says Thoughtworks CTO, ET BFSI
Artificial Intelligence (AI) has often been hailed as a "blue pill" solution, promising to resolve every conceivable challenge, said Bharani Subramaniam, CTO of Thoughtworks for India and the Middle East, but he brings forth a perspective, “Implementing AI is just the...
India to see record-breaking IPO fundraising in 2025 exceeding Rs 2 lakh crore, ET BFSI
Mumbai, India is on track to become the world's third-largest economy by 2027 with a $7 trillion GDP target by 2030, a report said on Thursday, predicting record-breaking IPO fundraising in the country next year, exceeding Rs 2 lakh crore.According to the report by...
DPIIT, BFSI News, ET BFSI
Startups have created over 1.6 million jobs across the country and the Department for Promotion of Industry and Internal Trade (DPIIT) has recognised 1.57 lakh startups as of December 25, the government said Wednesday. Moreover, India has more than 73,000 startups...
Demand for work under MGNREGA remained low in 2024, suggests improved rural economy: RBI, ET BFSI
New Delhi [India], December 25 (ANI): The demand for work under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) has remained subdued in most months of the current financial year, according to a report by the Reserve Bank of India (RBI). It said,...
Money for country roads may take economy to a better place, ET BFSI
India Budget: As preparations for Budget 2025 gain momentum, Finance Minister Nirmala Sitharaman along with her team is poised to present measures aimed at steering India’s economy toward resilience and inclusive development. Among the key priorities, rural...
Centre appoints Arunish Chawla as revenue secretary, BFSI News, ET BFSI
Senior bureaucrat Arunish Chawla has been appointed the revenue secretary as part of a top-level bureaucratic reshuffle effected by the Centre on Wednesday. Chawla, a 1992 batch Indian Administrative Service (IAS) officer of the Bihar cadre, is currently the...
Mumbai Metro One lenders in talks to sell Rs 1,226 crore debt to NARCL, ET BFSI
Lenders to Mumbai Metro One, which connects Versova to Ghatkopar, are in an advanced stage of selling their debt to the government-owned bad loan aggregator, said people with knowledge of the matter.The National Asset Reconstruction Company (NARCL) has offered Rs...
India’s growth trajectory poised to lift in FY25 H2 because of resilient domestic private consumption: RBI bulletin, ET BFSI
Reserve Bank of India in its monthly bulletin said that India’s growth trajectory is poised to lift in the second half of 2024-25, driven mainly by resilient domestic private consumption demand. "India’s growth trajectory is poised to lift in the second half of...
PM Modi meets economists, experts to elicit views on Budget 2025-26, ET BFSI
Prime Minister Narendra Modi is meeting eminent economists and sectoral experts to elicit their views and suggestions for the upcoming Budget. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2025-26 in the Lok Sabha on February 1,...
Top BFSI Business acquisitions of the year, BFSI News, ET BFSI
~Samriddhi Singh MaharIn 2024, a great deal of consolidation happen in the BFSI sector in the form of business acquisitions. The banking and financial services sector recorded 64 deals, contributing USD 3.2 billion to deal values in the 3rd quarter. High-value deals...
Will GST Council address compensation cess, fuel tax in 2025?, ET BFSI
The 55th GST Council meeting resulted in several significant recommendations that aim to streamline the Goods and Services Tax (GST) framework. However, it also highlighted the complexities within the current system and the challenges the government faces in...
Fund mobilisation by Indian companies surged 10 times over last ten years: Report, ET BFSI
New Delhi: Over the last ten years, fund mobilisation by Indian companies has grown tenfold.A report by the State Bank of India (SBI) says that fund mobilisation through capital markets has increased from Rs 12,068 crore in 2014 to Rs 1.21 lakh crore in FY25 (up to...
Women pay gap high at 35-40% in key sectors, BFSI News, ET BFSI
While this pay gap is the highest at 35-40% in sectors such as retail and manufacturing, in BFSI it ranges from 15-17%, and in IT/ITeS it is in the 10-17% range. In pharma and healthcare, it is around 10%, according to data provided by TeamLease Digital.Hyderabad:...
Real GDP growth seen lower than RBI estimates in Oct-Mar, BFSI News, ET BFSI
Mumbai: The real gross domestic product (GDP) growth for the second half of FY25 is likely to be softer than the Reserve Bank of India's (RBI) revised estimates, economists said, citing the latest suite of incoming high-frequency data contained in the minutes of the...
Brace! Risks stack up for the global economy in 2025, BFSI News, ET BFSI
No sooner had the global economy started to put the aftermath of the COVID-19 pandemic behind it than a whole new set of challenges opened up for 2025. In 2024, the world's central banks were finally able to start lowering interest rates after largely winning the...
All about fiscal deficit and why it becomes big news before budget, ET BFSI
Budget: Fiscal deficit is the difference between the govt's income and expenditure. It is a key indicator that has implications for borrowing and financial commitments of the govt, which makes it a major news item before every budget. The central govt's fiscal deficit...
HDFC Securities expects India GDP to moderate to 6.4% in 2024-25, ET BFSI
New Delhi [India], December 22 (ANI): Financial advisory services firm HDFC Securities expects India's GDP to grow at 6.4 per cent in 2024-25, with downside risks given a slowdown in urban demand and a lack of substantial revival in private capex. Growing rural demand...
How macroeconomic indicators performed in November 2024?, ET BFSI
~Samriddhi Singh MaharThe economy saw a slight ease in inflation with CPI being 5.48% along with India's unemployment rate dropping to 8% in November 2024 from 8.7% in October. There was a year on year increase of 9.59 % in exports as well.However, not all of the...
IFC invests $75 mn in NDR InvIT’s sustainability-linked bonds, ET BFSI
International Finance Corporation (IFC) has invested $75 million, or about Rs 630 crore, in sustainability linked bonds (SLB) issued by NDR InvIT, an infrastructure investment trust (InvIT) sponsored by NDR Warehousing Pvt Ltd.The SLB, in domestic currency, is the...
India signs $350 million loan agreement with ADB to expand manufacturing sector, ET BFSI
The central government and the Asian Development Bank (ADB) signed a USD 350 million policy-based loan under the second subprogram of Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) program.The Ministry of Commerce & Industry in an official...
Bears colour stock market red ahead of Christmas, time for balanced investment strategy, ET BFSI
Mumbai, Indian benchmark indices declined 5 per cent this week amid global selloff, mainly triggered by the US Federal Reserve's caution approach for rate cuts next year, which resulted in relentless selling by the foreign institutional investors (FIIs).With this,...
FDI in India showed robust growth, attracted USD 991 billion between 2000 and 2024, ET BFSI
New Delhi [India], December 20 (ANI): With nearly 90 per cent of FDI inflows facilitated through the automatic route, India has made significant strides in creating an environment conducive to investment and economic growth.According to the Ministry of Commerce and...
DDoS attacks on Indian infrastructure grew by 50% in 2024: Positive technologies, ET BFSI
The number of distributed denial-of-service (DDoS) attacks on Indian infrastructure has increased by 50% since the beginning of 2024, finds a study by Positive Technologies.The study found that the attackers are primarily interested in databases and access to the...
Mumbai, Dubai emerge top searches for travel destinations in 2024: Paytm, ET BFSI
New Delhi, Mumbai and Dubai emerged top searches for travel destinations and visa-free travel like Almaty and Kenya became traveller favourites in 2024, fintech firm One97 Communications -- owner of Paytm brand said on Thursday. According to the report 'Travelpanti...
Gold, silver prices plummet as US Fed signals only 2 rate cuts in 2025, ET BFSI
New Delhi, Gold and silver prices fell sharply in the national capital on Thursday due to a muted demand by jewellers amid a weak global trend, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity plunged Rs 800 to Rs 78,300 per 10...
India’s job market projected to grow 9% in 2025, ET BFSI
India’s job market is projected to grow 9% in 2025, led primarily by sectors like information technology, retail, telecommunications and banking, financial services and insurance (BFSI), show data from jobs and talent platform Foundit (formerly Monster APAC &...
India’s GDP growth may fall below 6% in FY25, inflation may defy estimates, ET BFSI
Inflation may defy estimates in 2025India’s real GDP growth is projected to decelerate to 5.8% in FY25, down from the earlier forecast of 6.1%, according to a recent report by Motilal Oswal Financial Services (MOFSL). The revised projection follows an unexpected...
How is the economy really doing? India’s 63 million small businesses may have the answer, ET BFSI
Many small businesses weren't shocked when Q2 FY25 GDP data revealed India's economic growth had slumped to a seven-quarter low of 5.4 per cent, a significant drop from 8.1 per cent in the prior year's equivalent period and 6.7 per cent the previous quarter. For them...
Focus on trade infra, MSMEs competitiveness to help India double share in global trade: CII, ET BFSI
Deeper integration into global value chains, enhanced digital trade infrastructure and a focus on building the competitiveness of MSMEs will help India more than double its share in global trade from the present 2 per cent, CII said on Wednesday. Chairman of the CII...
Delhi Leads India’s crypto investments, Bengaluru ranks second, Mumbai third: CoinSwitch, ET BFSI
Delhi-NCR emerged as the top contributor to India’s crypto investments in 2024, commanding 20.9% of the total, more than double Bengaluru’s 9.6%, which ranked second, according to CoinSwitch’s annual investor report, India’s Crypto Portfolio 2024: How India Invests....
What is Public Debt, and how does the Debt-to-GDP Ratio work?, ET BFSI
The government requires funds to finance developmental projects across the country. Public debt comes into play when the government's earnings, such as revenue from taxes and other sources, fall short of funding these projects, necessitating borrowing from various...
Shiprocket’s Akshay Ghulati, ET BFSI
India has set an ambitious target of $200 billion in ecommerce exports by 2030, up from the current $5 billion, which comprises just 1% of India’s merchandise exports. As per an EY-Assocham report, adopting more flexible policies and addressing existing challenges in...
Nomura sees India GDP growth slowing down to 5.8% in 2025; 100 bps rate cut, ET BFSI
NomuraNomura expects a sharp GDP growth slowdown to 5.8% in 2025 from 6.5% in 2024, resulting in 100bp worth of policy rate cuts.“We expect a sharp GDP growth slowdown to 5.8% in 2025 (Consensus: 6.7%) from 6.5% in 2024, resulting in 100bp worth of policy rate cuts...
Narayan, BFSI News, ET BFSI
Representative image Mumbai, Capital markets regulator Sebi is training a large language model (LLM) to further cut processing times on approval requirements, whole time member Ananth Narayan G said on Tuesday. "We are actually starting to train an in-house LLM in...
Fed, Budget and Earnings to be key levers for India’s economic momentum: Ajay Bagga, ET BFSI
"Trump wants a weaker dollar, but the markets might not deliver that to him given all the trends that are going into a dollar strength. In fact, we are looking at parity with the euro coming for the dollar within next year," says Ajay Bagga, Market Expert.What could...
India’s long-term growth story intact, equities to stay buoyant next year: Report, ET BFSI
Mumbai, The structural long-term growth story for India remains intact driven by favourable demographics and stable governance, and Indian equities are likely to stay buoyant next year, a report showed on Tuesday.Private banks, capital goods and digital commerce are...
India’s gold imports to plunge in December after record November, ET BFSI
By Rajendra JadhavMUMBAI - India's gold imports are poised for a sharp slowdown in December following record purchases in November, in the absence of any major festival and as rebounding prices prompt buyers to delay purchases, trade and government officials...
RBL Bank’s R Subramaniakumar reappointed as MD and CEO, BFSI News, ET BFSI
Mumbai: The board of RBL Bank has reappointed R Subramaniakumar, as managing director and MD and CEO for three years, effective June 23, 2025, the bank informed exchanges on Monday. He had joined the private bank as CEO in June 2022 for a term of three years....
Developing countries’ debt fears increase with new climate finance, ET BFSI
DHAKA: The growing costs of the climate crisis are forcing developing nations to make painful choices, compelling them to pay off debts rather than spend money on crucial services like health and education.Only 28% of climate finance was provided as grants in 2022 to...
Emerging cities put up a strong show in India’s job growth: Report, ET BFSI
Metro cities like Chennai, Hyderabad, and Pune led the charge in recovery, with Pune especially bouncing back strong in the second half of the year, as it recorded a 13% growth in hiring during Q3, the findings revealed.After a slow start with a YoY decline of 10% in...
IPO markets emerging as exit routes for startup investors amid evolving ecosystem, ET BFSI
New Delhi [India], December 15 (ANI): The Indian startup ecosystem has undergone a dynamic evolution over the past decade, with major changes reshaping how private equity (PE) and venture capital (VC) firms strategize their exits from startups. Traditionally, Indian...
India’s economy ends 2024 with solid momentum as business growth hits 4-month high, PMI shows, ET BFSI
India's private sector output grew at the fastest pace in four months, preliminary readings from a survey showed, helping the economy end 2024 on a positive note underpinned by sturdier demand in services and manufacturing and record jobs growth.Asia's third-largest...
Wholesale Inflation eases to 1.89% in November, BFSI News, ET BFSI
Wholesale inflation, measured by the Wholesale Price Index (WPI), moderated to 1.89 per cent in November, down from 2.36 per cent in October, according to data released by the Ministry of Commerce and Industry on Monday.Speaking of the month-on-month change, the fair...
Indian companies’ revenue surge in FY24 however wage growth of employees moderate: SBI Report, ET BFSI
While the growth in revenue was moderate, the earnings before interest, taxes, depreciation, and amortization (EBIDTA) and profit after tax (PAT) saw a robust increase of 28 per cent and 32 per cent, respectively.New Delhi: Around 4,000 listed companies in India...
Sensex falls! But these stocks are up over 15% on BSE, ET BFSI
NEW DELHI: Several stocks gained in excess of 15% in Mumbai trading on Monday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the amid brisk in frontline bluechip counters. Alfavision Over(up 20.00%), Tips Films(up 19.99%), Donear Ind(up 19.97%), Essar...
India continues to hold steady despite global uncertainties: CareEdge Ratings, ET BFSI
CareEdge Ratings expects the Government of India to continue on the path of fiscal consolidation and projects India's GDP growth to moderate but remain healthy at 6.5 per cent in the current financial year.NEW DELHI: CareEdge Ratings expects the Government of India to...
India must leverage domestic demand, need strategic reforms to capitalise on China +1: Economists, ET BFSI
India’s growth estimate for FY25 has been marked at 6.6 per cent by Axis Bank, 6.5 per cent by Care Edge Ratings, and 6.5 per cent by Asian Development Bank till date. This brings focus to China +1 strategy as global supply chains diversify away from China. While...
Plans afoot to bring EPFO service at par with banking, says top official, ET BFSI
Subscribers of the retirement fund body EPFO may soon be able to get services at par with banking system and use ATMs to withdraw their claim amount, a top official said on Friday. Union Labour Secretary Sumita Dawra told PTI that focus right now in EPFO (Employees'...
Need to blend commercial considerations with economic priorities, strategic needs: Sitharaman, ET BFSI
New Delhi, Finance Minister Nirmala Sitharaman on Wednesday stressed that India Inc's commercial considerations should blend with the economy, nation's priorities and strategic needs. Asking the industry to "realign and reset" itself based on the lessons learnt in the...
Gold eases on profit taking after scaling more than one-month peak, ET BFSI
By Rahul Paswan- Gold slipped on Thursday as investors booked profits after prices hit more than one-month high earlier in the day on increased expectations of an interest rate cut by the Federal Reserve next week.Spot gold shed 0.5% to $2,704.41 per ounce, as of 0257...
ADB approves USD 500 million for green infrastructure in India, ET BFSI
ADB approves USD 500 million for green infrastructure in IndiaNew Delhi [India], December 12 (ANI): The Asian Development Bank (ADB) has approved a USD 500 million loan to support India's economic growth through the development of environmentally sustainable...
Finance Commission Chairman, ET BFSI
New Delhi [India], December 12 (ANI): India's economy is on track to surpass the USD 7 trillion mark by 2030 even under the conservative growth estimates, according to Arvind Panagariya, Chairman of the 16th Finance Commission.Speaking at the India Economic Conclave...
Bengaluru leads in hiring; BFSI, IT sectors see rise in job openings, ET BFSI
There has been a healthy increase in share of demand for middle level talent over the previous 6-month period in Tier-1 and Tier-2 cities in different sectorsBengaluru leads the way as the top Tier-1 city for hiring across most industries and levels of experience,...
Expect economic growth of 6.5-7 pc this fiscal; pick up in private investment: FICCI President, ET BFSI
Terming the 5.4 per cent GDP growth in the second quarter as a "temporary phenomena", FICCI President Harsha Vardhan Agarwal on Thursday said the industry body expects India to achieve 6.5-7 per cent economic growth in the current financial year, while projecting a...
India’s retail inflation eases to 5.48% in November, driven by fall in vegetable prices, ET BFSI
India's retail inflation eased to 5.48% in November, according to data released by the Ministry of Statistics & Programme Implementation on Thursday.This marks a decline after inflation had surpassed the Reserve Bank of India's (RBI) 6% upper tolerance threshold...
Budget 2025 needs to boost infrastructure spending for GDP growth, ET BFSI
As the Union Budget 2025 approaches, leading experts are calling for a significant increase in infrastructure spending to catalyse India's economic growth. The government is urged to go for an 30% annual rise in infrastructure allocations, with demands for the...
Commerce Minister Piyush Goyal, ET BFSI
Commerce and Industry Minister Piyush Goyal on Thursday expressed confidence that India's economic growth by end of this fiscal will be back on track despite global uncertainties. He said that this year also India will be the world's fastest growing economy. "We had...
Combating cyber fraud threats for success of the India digital growth story, ET BFSI
From 10-minute deliveries to real-time digital payments via UPI and cash transfers through AEPS, technology has paved the way for financial inclusion and long-term growth. In the insurance sector, technology has simplified access to and understanding of insurance...
Indian government seeks parliament nod for extra spending for FY25, ET BFSI
NEW DELHI - The Indian government sought on Thursday parliament's approval for gross additional spending of 867.3 billion rupees ($10.22 billion) in the current fiscal year, the finance ministry said.The government said the net additional spending for the current...
Report, BFSI News, ET BFSI
New Delhi, India's economic growth is expected to rebound to 7 per cent in 2025-26, despite the global uncertainties, primarily due to domestic policies, according to an Axis Bank research report released on Wednesday.The report states that a cyclical rebound will...
Fiscal tightening, credit slowdown behind India’s growth slump: Neelkanth Mishra, ET BFSI
Neelkanth Mishra, Chief Economist, Axis BankIndia’s economic trajectory in FY25 is under pressure with Q2 of FY25 recording a growth rate of 5.4 per cent, slowest in the last 7 quarters. Axis Bank predicts the growth estimates for FY25 and FY26 to be 6.6 per cent and...
The ghost of inflation may not leave the Indian economy anytime soon, ET BFSI
Inflation in India is unlikely to ease quickly, according to Axis Bank's latest report, which highlights that both core and food price indices are expected to remain closely tied. Despite food and vegetable prices reaching cyclical highs, the report emphasizes that...
Strong signs of government capex recovery in second half of FY25, ET BFSI
New Delhi, The Central government has released Rs 122.50 crore to over 1,700 agri-startups in the last five years under the Innovation and AgriEntrepreneurship Development programme, Minister of State for Agriculture Bhagirath Choudhary has informed the Lok Sabha.The...
Trump 2.0 could alter FII flows and market dynamics: Rajesh Bhatia, ET BFSI
"So, IT, you can see across the board, the sector is witnessing new highs. Private banks, at least select private banks are touching new highs. Digital commerce companies are doing well. They are all in new highs, so on and so forth. So, it has become a very stock...
SC seeks response from Reliance Infra, Axis Bank MD & DAMEPL over non-refund of Rs 4,500 cr to DMRC, ET BFSI
The Supreme Court on Wednesday sought a response from the managing director of the Reliance Infrastructure subsidiary, the Delhi Airport Metro Express Pvt Ltd (DAMEPL) and the Axis Bank managing Director and others as to why contempt proceedings should not be...
ADB lowers India’s GDP growth forecast to 6.5 pc for FY25, BFSI News, ET BFSI
The Asian Development Bank (ADB) on Wednesday lowered India's economic growth forecast to 6.5 per cent for the current financial year from its earlier estimate of 7 per cent due to lower-than-expected growth in private investment and housing demand. The multilateral...
Industry should realign itself keeping political, strategic policies in mind: Nirmala Sitharaman, ET BFSI
New Delhi, Finance Minister Nirmala Sitharaman on Wednesday said the industry will have to realign its policies keeping in mind political and strategic decisions of the country. Outlining the priorities of the economy for the next decade, Sitharaman also said attempts...
Reliance Industries seeks up to $3 billion loan for refinancing, ET BFSI
Billionaire Mukesh Ambani-owned Reliance Industries is in talks with banks for a loan of as much as $3 billion to refinance debt due next year, according to people familiar with the matter.About half a dozen banks are in discussions with the Indian conglomerate for...
Report, BFSI News, ET BFSI
India saw a 3000% increase in cyber attacks on application programming interfaces in the July-September quarter, according to a new report.Focused distributed denial of service (DDoS) attacks were 85% more frequent than those on websites, highlighting the heightened...
Report, BFSI News, ET BFSI
New Delhi: India's retail inflation based on the Consumer Price Index (CPI) is expected to ease to 5.5 per cent in November due to a decline in food prices, according to a Morgan Stanley report."We expect CPI inflation to edge downwards to 5.5 per cent in November...
Gold could extend record run into 2025, Heraeus says, BFSI News, ET BFSI
- Gold could extend its record run into 2025 as further interest rate cuts from major central banks and the prospect of a weaker dollar will boost demand for the safe-haven asset, Heraeus Precious Metals said on Tuesday.Heraeus expects gold prices to range from $2,450...
Coldplay tickets soar but GenZ use savings, credit card, personal loans to live in the moment, ET BFSI
A concert (Picture generated through AI for representational purposes only)By Siddhi NawarThey believe in ‘living in the moment’ and hence they look for a moment which is worth a reel on Instagram and a short on YouTube. From weekends to holidays, they plan their...
Not impressed with China rhetoric, favouring India despite bad performance in last 2 months: Geoff Dennis, ET BFSI
Geoff Dennis, Independent Emerging Markets Commentator, says In terms of India, he has long thought that one has to be invested in banks, technology, and to a certain extent pharma. A broader consumer portfolio would require a little bit more confidence that the...
S&P Global Ratings projects 6.8 pc growth for Indian economy in FY25, ET BFSI
New Delhi, S&P Global Ratings on Tuesday projected 6.8 per cent growth for the Indian economy in FY25, followed by 6.9 per cent growth in FY26, on the back of strong urban consumption, steady service sector growth, and ongoing investment in infrastructure.The...
JP Morgan predicts optimistic global economic outlook for 2025; recession probability pegged at 15 pc, ET BFSI
New Delhi [India], December 10 (ANI): JP Morgan outlines an optimistic yet complex global economic outlook for 2025, predicting a low likelihood of recession, estimating only a 15 per cent probability of an economic downturn in the first half of the year.According to...
Supporting entrepreneurship and ease of doing business critical for India’s growth: Nilesh Shah, ET BFSI
Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Company, has stressed the importance of entrepreneurship in driving India's economic growth while discussing the opportunities and challenges for the nation.Shah shared examples of Indian companies...
FDI inflows in India cross $1 trillion, ET BFSI
Foreign direct investment (FDI) inflows into India have crossed the USD one trillion milestone in the April 2000-September 2024 period, firmly establishing the country's reputation as a safe and key investment destination globally. According to data from the...
Maharashtra leads states in attracting foreign direct investment, says Governor, ET BFSI
Mumbai, Maharashtra Governor C P Radhakrishnan on Monday said the state has emerged as the number one among all the states in attracting foreign direct investment. Addressing a joint session of the state legislature in Mumbai, the Governor said Maharashtra contributes...
India’s consumption story optimistic, agriculture growth a bright spot: Report, ET BFSI
New Delhi, The Reserve Bank of India's (RBI) consumer confidence in November turned optimistic for the future while on the rural front, agriculture growth remained a bright spot, clocking a growth of 4 per cent in the second quarter (Q2) this fiscal (FY25), a report...
India’s industrial output likely rose by 3.7% in October on festive demand: Report, ET BFSI
NEW DELHI: India's industrial production likely improved in October 2024, driven by festive demand, according to a report by Union Bank of India.The report highlighted that the Index of Industrial Production (IIP) surged by 3.7 per cent year-on-year, up from 3.1 per...
Prime Minister Narendra Modi, ET BFSI
Jaipur (Rajasthan) [India], December 9 (ANI): Prime Minister Narendra Modi on Monday inaugurated and addressed the Rising Rajasthan Global Investment Summit which is being held in Jaipur from December 9 to 11. Addressing the people and media, PM Modi said that India...
transforming infrastructure, governance, citizen service delivery, ET BFSI
Key initiatives and projects have been rolled out to strengthen the country’s digital backbone, ensuring accessibility, scalability, and security in delivering government services, fostering economic growth, and enhancing citizens’ lives. India's digital...
MOVES-Citigroup’s Harish Raman given expanded Asian ECM role, BFSI News, ET BFSI
SYDNEY, - Citigroup has appointed Harish Raman as the head of its equity capital markets (ECM) execution, origination and solutions business for Asia North, Asia South and Australia, according to a memo seen by Reuters on Monday.Raman will also retain his current...
Earnings slowdown and consumer stress raise correction concerns: Manish Sonthalia, ET BFSI
"The broader markets on its part is way too expensive than historical numbers. One-and-a-half times deviation from the mean when you come to valuations on the small and midcap index whether it is 2007 levels or 2017, 18, 19 when you saw massive rally in the broader...
FII selling slows in November 2024 as India markets stabilize post October steep fall: Report, ET BFSI
New Delhi [India], December 6 (ANI): After a steep correction in October 2024, where the Nifty 50 index fell around 6 per cent and closed 8 per cent lower than its all-time highs, FII outflows reduced in November, a sharp drop from October outflows says a report by JM...
Inflation, along with external headwinds, poses challenges to India’s growth prospects
PRNewswireMumbai (Maharashtra) [India], December 6: Dun & Bradstreet, a global leader in business decisioning data and analytics, has released its Economy Observer report for November 2024. Economy Observer is a monthly report that shares an in-depth analysis on...
Goyal, BFSI News, ET BFSI
New Delhi, India in 2019 decided not to join the mega free trade agreement RCEP as the pact was not addressing its concerns and since then there has been no change in that position, Commerce and Industry Minister Piyush Goyal said on Friday. The RCEP (Regional...
Rupee settles on a flat note, rises 1 paisa to 84.70 against US dollar, ET BFSI
Mumbai, The rupee settled on a flat note and appreciated by just 1 paisa to close at 84.70 (provisional) against US dollar on Friday, as the Reserve Bank of India left repo rate unchanged at 6.5 per cent in its monetary policy decision. The Reserve Bank of India on...
MSMEs face cash crunch, majority seek loans for immediate financial needs, ET BFSI
A study by Paisabazaar reveals that India’s micro, small, and medium enterprises (MSMEs) are grappling with significant liquidity challenges. Out of 80 lakh business loan applications on Paisabazaar in the last 10 months, nearly 70% were driven by immediate financial...
Rupee gains, tracking most Asian peers ahead of the RBI policy decision, ET BFSI
The Indian rupee strengthened on Friday, tracking a rise in most regional peers that were boosted by a softer U.S. dollar, while traders await the Reserve Bank of India's (RBI) monetary policy decision.The rupee was up about 0.1% at 84.6550 as of 09:30 a.m. IST...
Finance minister to begin pre-Budget consultation from Friday, ET BFSI
Finance Minister Nirmala Sitharaman will start pre-Budget consultations with various stakeholders beginning Friday as part of Budget making exercise. The first meeting as part of this series will be held with eminent economists on December 6. Sitharaman, who will...
Investment banks eye 2025 income boom as Trump drives deal rebound, ET BFSI
*Investment bank revenue could jump 5.7% in 2025, Coalition says*Income could grow to $316 billion globally, estimates show*M&A rebound anticipated as U.S. economy charges onBy Sinead Cruise and Lawrence WhiteLONDON, - President-elect Donald Trump's return to the...
Bitcoin hits $100,000 for first time, BFSI News, ET BFSI
Hong Kong, Dec 05, 2024 -Bitcoin broke $100,000 for the first time Thursday as traders cheered Donald Trump's decision to pick a crypto fan to head the US securities regulator, reinforcing optimism the new president will push through measures to deregulate the...
Indian startups democratising biz, converting job seekers into job creators: Piyush Goyal, ET BFSI
New Delhi, The domestic startup ecosystem is driving transformative change by democratising business and converting job seekers into job creators, Union Minister of Commerce and Industry, Piyush Goyal, said on Thursday.Applauding the launch of Startup Policy Forum...
Jul-Sep GDP may be revised upwards, 6.5-7 pc growth in FY’25 feasible: CEA Nageswaran, ET BFSI
New Delhi, Chief Economic Advisor V Anantha Nageswaran on Thursday said economic activity in some sectors have picked up pace during October-November and a GDP growth of 6.5-7 per cent in the current fiscal is feasible. He also said that the 5.4 per cent second...
India adopted meticulous approach to FTAs to safeguard interests of MSMEs: S Jaishankar, ET BFSI
New Delhi [India], December 5 (ANI): The Indian government has adopted a meticulous approach to Free Trade Agreements (FTAs), focusing on safeguarding the interests of Micro, Small, and Medium Enterprises (MSMEs) and farmers, External Affairs Minister S Jaishankar...
Investments in India are profitable, Russia ready to place manufacturing site in country: Putin, ET BFSI
Moscow, Russian President Vladimir Putin lauded Prime Minister Narendra Modi and the Indian government for creating "stable conditions" for small and medium-sized enterprises (SMEs) and offered to place Russian manufacturing sites in India. Speaking at the 15th VTB...
Cyberattacks to spike in 2025; healthcare and finance sectors at risk: Report, ET BFSI
NEW DELHI: A recent report by the Data Security Council of India and Seqerite raised serious concerns about the increasing vulnerability of the finance and healthcare sectors to cyberattacks. The India Cyber Threat Report 2025 revealed that these industries would be...
We are open to idea of alternate financing models for MSMEs: Goyal, ET BFSI
New Delhi, Commerce and Industry Minister Piyush Goyal on Thursday urged the industry to share specific issues they are facing in accessing bank credit and suggested that the government is open to exploring alternate financing models for MSMEs. He also said the...
Foreign outflows from Indian markets moderate in November as financials, IT spark interest, ET BFSI
By Bharath Rajeswaran- Foreign outflows from Indian equity markets moderated in November after these investors turned buyers in the second-half of the month, snapping a record 38-session selling streak.Last month, foreign portfolio investors (FPI) poured money mainly...
Foreigners buy $1 bln of Indian bonds on bets of policy easing after GDP data, ET BFSI
*Expectations of RBI policy easing drive bond purchases*Indian bond yields fall to three-year lows since GDP data*RBI policy decision due on FridayBy Dharamraj DhutiaMUMBAI, - Foreign investors have stepped up buying of Indian government bonds in the last four...
Indian rupee on gentle one-way path down, to breach 85/$ in 6 months, ET BFSI
The Indian rupee will break through 85 per U.S. dollar to hit a new low in the next six months even as the Reserve Bank of India continues to intervene to stem the currency's losses, according to a Reuters poll of FX strategists.The results come days after news that...
Yellow metal dips to Rs 76,980/10 grams as investors await US payrolls data; Silver at Rs 92,026kg, ET BFSI
Gold prices edged lower on Thursday as investors waited for US payroll data expected to provide more insights into the Federal Reserve's monetary policy path.As of 10:01 am, February gold futures were trading at Rs 76,980 per 10 grams on the MCX, down by Rs 112 or...
DPIIT, Moglix forge partnership to accelerate manufacturing innovation in India, ET BFSI
The program will support over 25 growth phase startups in industries such as chemicals, automotive, infrastructure, and green energy. NEW DELHI: The Department for Promotion of Industry and Internal Trade (DPIIT) of the Union government has signed a memorandum of...
A Transformational Shift for Financial Dispute Resolution in BFSI, ET BFSI
PRNewswireNew Delhi [India], December 4: In today's fast-paced digital era, the banking and financial services industry requires the ability to resolve financial disputes swiftly, transparently, and cost-effectively. Disputes, particularly those involving debt...
Oxford Univ Professor (IANS interview), ET BFSI
New Delhi, Dec 4 (IANS) Lauding the strength of India's growing economy under the leadership of Prime Minister Narendra Modi, Oxford University Professor Soumitra Dutta said on Wednesday that a lot of forces are siding with India in its unprecedented journey towards...
The Future of India’s Economy Lies in Strategic, Innovation-Driven Investments, says Finance Expert Vipin Aggarwal, ET BFSI
New Delhi [India], December 4: In the ever-evolving world of Indian capital markets, Vipin Aggarwal has emerged as a guiding force, combining strategic vision with innovation to drive economic and industrial growth. With over two decades of experience spanning fund...
World Bank report, ET BFSI
New Delhi, India's total external debt has increased by USD 31 billion to USD 646.79 billion in 2023, according to World Bank International Debt Report. The report further said that interest payment increased from USD 15.08 billion in 2022 to USD 22.54 billion in...
Finmin, BFSI News, ET BFSI
Public investments in infrastructure, as a percentage of the country’s gross domestic product (GDP), have exceeded the pre-pandemic level, the Rajya Sabha was informed on Tuesday.Infrastructure investments by the Union and state governments and Central Public Sector...
Capex revival, AI growth and fixed-income opportunities, ET BFSI
Kotak Mahindra Asset Management Company has released its Market Outlook 2025, highlighting five investment themes that are set to shape the Indian economy and capital markets.From a multi-year capex cycle to advancements in technology, rural consumption revival, and...
India’s retail inflation likely to stay above 5 per cent in 2024: SBI Report, ET BFSI
India's consumer price inflation likely to stay above 5 per cent in 2024: SBI ReportIndia's consumer price inflation (CPI) is expected to remain above 5 per cent for the rest of 2024, according to a recent report by the State Bank of India (SBI).The report highlighted...
India’s services sector saw strong growth in November, PMI shows, ET BFSI
Growth in India's dominant services sector remained strong in November despite the steepest rise in prices for over a decade, while consistent demand led to a significant rise in business sentiment and record hiring, a business survey showed.The HSBC final India...
India’s GDP set to rebound amid policy shifts and capex boost: Mark Matthews, ET BFSI
"I would simply say in conclusion that Donald Trump does not like a strong dollar. When he talks about the dollar, he says he would want it to go down. So, if it does keep going up, I think that he would not like that very much," says Mark Matthews, Julius Baer.What...
India calls for remaking international financial architecture to give Global South greater say, ET BFSI
United Nations, India has called for remaking the international financial system by increasing the Global South's representation in the management of institutions and expanding the lending capacities of development banks.On Tuesday, Geetu Joshi, an Advisor in the...
India emerges popstar in concert economy with ticket sales to reach Rs 750-950 cr: BoB report, ET BFSI
A concert (Picture generated through AI for representational purposes only)As the global economy has seen multifold impact attributable to hosting major concerts, India has also recently witnessed a lot of buzz surrounding the flocking of international pop, rock, EDM...
Rupee recovers from all-time low, rises 3 paise to 84.69 against US dollar, ET BFSI
Mumbai, The rupee recovered from its all-time low level and settled for the day with gains of just 3 paise at 84.69 (provisional) against the US dollar in a range-bound trade on Tuesday, amid a positive trend in domestic equities. Forex traders said the rupee has been...
EAM Jaishankar on Trump 2.0 impact on business, ET BFSI
NEW DELHI: Allaying apprehensions about the likely impact of the incoming Trump administration on business ties, external affairs minister S Jaishankar said Monday that while there will always be some give and take between major economies, strategic convergences...
India’s GDP growth aim for FY25 further slashed to 6.3% by Morgan Stanley, ET BFSI
Morgan Stanley has again cut its GDP growth projection for India to 6.3 per cent for this fiscal year, down from its earlier estimate of 6.7 per cent. This come days after India's GDP slowed to a seven quarter low in the July-September quarter. Morgan Stanley had cut...
Rupee hits all-time low of 84.60 vs USD on economic growth worries, ET BFSI
The Indian rupee fell to a record low on Monday, hurt by concerns about a sluggish economy after the country's GDP growth dropped to a seven-quarter low, while declines in most regional currencies also heaped pressure on the local unit.The rupee fell to 84.6075 per...
Economic growth concerns push rupee to record low, ET BFSI
The currency weakened 0.2% on the day, its worst single day fall since June 4 Lok Sabha election results.The rupee declined to its weakest level on record on Monday, hurt by concerns about economic growth slowing to its lowest in seven quarters alongside strong dollar...
For U.K. Ambassador, Trump Picks Billionaire Who Supported His Rivals, ET BFSI
Warren Stephens, an investment banker and billionaire who donated to President-elect Donald Trump's rivals before eventually supporting him in the 2024 race, was tapped as Trump's ambassador to Britain on Monday.The selection of Stephens for the ambassadorship, a plum...
India factory growth softened in November on high inflationary pressures, PMI shows, ET BFSI
By Shaloo ShrivastavaBENGALURU - India's factory growth cooled in November yet maintained a strong pace, leading to significantly improved optimism despite demand easing a bit due to higher price pressures, a business survey found.Asia's third-largest economy expanded...
India’s GDP shocker seen adding to troubles for stock market, ET BFSI
A hiccup in India’s world-beating economic growth may exacerbate near-term weakness in stocks, according to strategists. The economy expanded at the slowest pace in almost two years in the September quarter, data Friday showed. Market participants expect a pickup in...
India records 45 pc surge in FDI to $29.79 billion in April-Sept, ET BFSI
New Delhi, Foreign Direct Investment (FDI) inflows into India surged by a robust 45 per cent to $29.79 billion in April-September during the current financial year compared to $20.5 billion in the same period during 2023-24, according to figures compiled by the...
RBI moves, asset quality to push NBFCs slow down asset growth to 15 pc in FY25, FY26: Crisil, ET BFSI
Mumbai, RBI's regulatory initiatives and asset quality trends will push non-bank lenders to slow down their growth in asset under management (AUM) to 15-17 per cent in the current fiscal and next, domestic rating agency Crisil said on Monday. The sector had achieved a...
How Foreign Policies Could Impact Indian Economy & Sectors, ET BFSI
Foreign policies and global trade dynamics have significant implications for India's economy. Strategic shifts, like diversifying supply chains, free trade agreements (FTAs), and geopolitical developments, are creating opportunities across industries such as...
Up to 75 pc of GST revenue comes from 18 pc slab: MoS Finance, ET BFSI
About 70-75 per cent of GST revenues collected in 2023-24 fiscal year came from the 18 per cent slab, while just 5-6 per cent came from the 12 per cent bracket, Parliament was informed on Monday. Only 6-8 per cent of the FY24 goods and services tax (GST) revenues were...
Rupee remains one of the best-performing Asian currencies: MoS Finance, ET BFSI
The rupee remains one of the best-performing Asian currencies despite geopolitical tensions in the Middle East and other headwinds, indicating India's sound economic fundamentals, Minister of State for Finance Pankaj Chaudhary said on Monday. The value of the Indian...
India to update GDP base year to fiscal 2023, ET BFSI
NEW DELHI - India is set to update the base year for calculating gross domestic product (GDP) to fiscal 2023 from fiscal 2012, Minister for Statistics Rao Inderjit Singh told Parliament on Monday.An advisory committee on national accounts statistics has been formed to...
Which way are the gears shifting?, BFSI News, ET BFSI
After India’s economy slumped to a seven-quarter low of 5.4% in the July-September quarter, much lower than consensus estimates and below the Reserve Bank of India’s 7% projection, annual growth forecasts are being scaled down. The slowdown is ringing alarm bells in...
India rates market signals easing, likely via liquidity, after weak growth data, ET BFSI
By Dharamraj DhutiaMUMBAI - The drop in India's benchmark bond yields and swap rates signals the central bank may address weaker-than-expected economic growth by easing monetary policy, which, traders say, will likely be via a lower cash reserve ratio than by interest...
India’s fiscal deficit on track, but spending challenges persist, govt. has only five months left in FY25 to spend: UBI report, ET BFSI
New Delhi [India], December 2 (ANI): The central government fiscal deficit stands at 46.5 per cent of its budget estimates in the first seven months of the current financial year 2025, highlights a report by Union Bank of India.The report also noted that the capital...
Analysis-India’s weak Q2 growth widens divide between government, cenbank priorities, ET BFSI
By Aftab Ahmed and Swati BhatNEW DELHI/MUMBAI - India's central bank is under increasing political pressure to cut interest rates as soon as this week, after data showed growth was much weaker than expected, but its firm focus on getting inflation down means it is...
India needs to grow at over 7% along with robust fiscal framework to meet Viksit Bharat target: EY India, ET BFSI
A recent report by EY India says enhanced government spending is vital for India's Viksit Bharat vision. EY India's economy watch suggest the government to implement strategies to enhance tax revenues and un-lock tax resources while maintaining fiscal prudence.The...
Navigating the AI Transformation Journey at BFSI Firms, ET BFSI
~Ashish Lahoti, Chief Transformation Officer, ServiceNowAI’s impact to the Banking and Financial Services Industry (BFSI) will be profound. The industry’s entire business and operating model will undergo transformative changes. Everything is up for reimagination— from...
Finance Minister Nirmala Sitharaman chairs review meeting of RRBs in Eastern belt, ET BFSI
Patna (Bihar) [India], November 29 (ANI): Union Finance and Corporate Affairs Minister Nirmala Sitharaman chaired a review meeting of Regional Rural Banks (RRBs) from the Eastern Belt in Patna on Friday. The meeting focused on strengthening the role of RRBs in...
India to expand EV manufacturing incentives after Tesla disappointment, source says, ET BFSI
By Aditi ShahNEW DELHI - India plans to expand electric vehicle incentives to automakers building models at existing factories in the country, instead of limiting the benefits to automakers willing to build new plants, a person with direct knowledge of the matter...
Tight credit and external uncertainty to weigh on India’s growth: Sonal Varma, ET BFSI
"And of course, we have seen profitability in some of the big manufacturing companies come down, which is also going to weigh on growth, so on the whole domestic demand contribution to growth we think will be softer than expected," says Sonal Varma, Nomura.This 6.5%...
Women employees in India’s workforce surge from 22 per cent to 40.3 per cent in 6 years, ET BFSI
Similarly, the Labour Force Participation Rate (LFPR) on usual status for women of age 15 years and above rose from 23.3 per cent during 2017-18 to 41.7 per cent in 2023-24New Delhi: The labour data compiled since 2017-18 shows that women's participation in India's...
India ranks 2nd on national index score among 29 countries: Report, ET BFSI
New Delhi, India has been placed second on the national index score among 29 countries in November 2024, according to a report on Friday.The LSEG-Ipsos Primary Consumer Sentiment Index India report maps consumer sentiment based on current conditions, expectations,...
Q2 FDI inflows rose 43% year on year to $13.6 billion, BFSI News, ET BFSI
Foreign direct investment (FDI) equity inflows into India rose 43.1% on-year to $13.6 billion in July-September this fiscal, data released by the Department for Promotion of Industry and Internal Trade (DPIIT) Friday showed.FDI inflows were $9.5 billion in the year...
India’s economy slows more sharply than expected as manufacturing weighs, ET BFSI
">"The manufacturing sector appears to have taken the maximum beating."India's economy slowed much more than expected in July-September, expanding by only 5.4% year-on-year as growth in manufacturing and consumption decelerated, data showed on Friday.It was the...
Is India poised to be a value buy now post the correction? Alok Agarwal answers, ET BFSI
Alok Agarwal, Head-Quant & Fund Managers, Alchemy Capital, says India is much more expensive than the world, but currently India's premium to the world stands at around 13% on a one-year forward PE basis and this is the lowest number we have seen in the last four...
UPDATE 1-India’s April-Oct fiscal deficit at 46.5% of FY25 target, ET BFSI
(Adds details)NEW DELHI, - India's fiscal deficit for April-October was 7.5 trillion rupees ($88.79 billion), or 46.5% of the estimate for the year ending March 2025, government data showed on Friday.Net tax receipts for the first seven months of the financial year...
Rupee falls 2 paise to close at 84.49 against US dollar, ET BFSI
Mumbai, The rupee fell 2 paise to close at 84.49 (provisional) against US dollar on Friday, dragged down by significant foreign fund outflows and month-end dollar demand from importers. Forex traders said, dollar demand from importers weighed on the rupee. However,...
How to apply and get a new PAN on your email ID? Here is a step-by-step guide, ET BFSI
The Income Tax Department has clarified that existing PAN cards of taxpayers and individuals are valid even without the QR code under the PAN 2.0 project. Allotment, updation or correction of PAN will be done free of cost and e-PAN will be sent to the registered mail...
India’s forex reserves drop by $1.31 bn to $656.58 bn as of Nov 22, ET BFSI
India's forex reserves fell by $1.31 billion to $656.582 billion for the week ending November 22, according to RBI data on Friday.The Weekly Statistical Supplement released by the RBI showed that the primary contributor to this decline was the drop in Foreign Currency...
Entry-level workforce across key sectors to earn better salaries: Report, ET BFSI
The report by TeamLease is Digital is based on primary data from 15,000 job roles across GCCs, IT services, and non-tech sectorsMumbai: Entry-level jobs, which were witnessing a slowdown, are getting a boost as freshers are offered competitive salaries across key...
Sentiments of realtors, financial institutions remain positive for future growth: Report, ET BFSI
New Delhi, Real estate developers and financial institutions are upbeat about growth potential of the realty sector for the six months ending March next year, according to Knight Frank and NAREDCO. Real estate consultant Knight Frank and realtors' body NAREDCO on...
Sensex jumps over 700 points ahead of Q2 GDP data release, BFSI News, ET BFSI
New Delhi [India], November 29 (ANI): Stock indices in India edged higher Friday, the last trading session of the week, as the investors closely watch out for July-September quarter GDP data to be released later today.Indian stocks have been quite volatile for the...
India’s GDP growth slows in Q2 FY25 to 5.4% amid weak consumption, ET BFSI
India’s economic growth moderated to 5.4% in the second quarter of FY25, down from 8.1% in the same period last year and 6.7% in the previous quarter, according to government data released on Friday. Economists had anticipated this slowdown, attributing it to weaker...
Govt mulls change in base year to 2022-23 from 2011-12 for computation of GDP, ET BFSI
The government is considering changing the base year for computation of the GDP to 2022-23 in February 2026 to reflect an accurate picture of the economy, a top government official said. This will be the first revision in over a decade. It was last done in 2011-12....
Foreign Portfolio Investors influence on Indian stock markets reduced over time: Report, ET BFSI
New Delhi [India], November 29 (ANI): The Foreign Portfolio Investors (FPIs) continue to influence Indian stock markets however the extent of their impact on major indices has reduced over time, says a report by ICICI Mutual Fund.The report attributed this decline in...
No red flags yet from lenders and investors, Crisil says, ET BFSI
Adani Group has sufficient liquidity and operational cash flows to meet its debt obligations and committed capital expenditures, rating agency CRISIL Ratings on Friday. It also noted that lenders and investors have not taken any adverse actions following the US...
India gold premiums steady as price fluctuations stabilise demand, ET BFSI
By Rajendra Jadhav and Rahul Paswan- Physical gold premiums were steady in India, as a rise in demand from this week's price correction was later countered by higher rates, while demand in other major Asian hubs and top consumer China remained subdued.Bullion prices...
Indian central bank likely selling dollars to support rupee near key level, traders say, ET BFSI
The Indian central bank was likely selling U.S. dollars to help the rupee hold above a key psychological support level for the currency at 84.50, three traders told Reuters.The rupee was marginally weaker at 84.4625 as of 9:20 a.m. IST, compared to its close at...
Finance ministry official, ET BFSI
Concrete steps have been taken to regulate the fintech industry in India as per the Financial Action Task Force's recommendations to tackle money laundering and terror financing, a central government official said on Wednesday. India is among the few countries that...
How will the new PAN card system work?, BFSI News, ET BFSI
The Cabinet Committee on Economic Affairs (CCEA), led by Prime Minister Narendra Modi, has approved the PAN 2.0 project, a major initiative to overhaul the Income Tax Department’s operations. The project aims to modernise India’s taxpayer registration system and...
Ease compliance for MSMEs with simplified GST and reduced TDS: ASSOCHAM-EGROW Study, ET BFSI
New Delhi: ASSOCHAM in collaboration with Egrow Foundation conducted an in-depth study on “MSMEs Facing Challenges in Doing Business”. The study marked the culmination of a series of detailed interviews with members of various state units of ASSOCHAM. These...
Industry should give feedback on ‘National Single Window System’ or we will abort it: Piyush Goyal, ET BFSI
New Delhi [India], November 28 (ANI): Union Minister of Commerce and Industry Piyush Goyal expressed concerns regarding the lack of industry engagement with the National Single Window System (NSWS) and the Industrial Land Bank initiatives. Addressing the Confederation...
India’s gig economy could add 90 million jobs over time: Report, ET BFSI
New Delhi, India's gig economy could add 90 million jobs, enabled by large multinationals, and add 1.25 per cent to the country's GDP over time, according to a report on Thursday.Gig economy supports sectors such as e-commerce, transportation and delivery services,...
Gold, silver prices poised for recovery as fundamentals support bullish trend: Tata MF, ET BFSI
A report by Tata Mutual Fund released on Thursday said that even though gold and silver prices have declined post US presidential election results falling more than 6% from all-time highs, prices of the bullion may resume uptrend after stabilizing in the current range...
Cooperatives can create up to 5.5cr direct jobs, 5.6cr self-employment opportunities by 2030: Report, ET BFSI
New Delhi, India's cooperative sector has the potential to generate up to 5.5 crore direct jobs and 5.6 crore self-employment opportunities by 2030, according to Primus Partners. Management consultancy firm Primus Partners on Thursday released a report on the...
Food items may shed weight in CPI basket, BFSI News, ET BFSI
New Delhi: Food items could see their dominance in the Consumer Price Index (CPI) decline by up to 6.5 percentage points in rural areas and 3.4 percentage points in urban areas, going by the Household Consumption Expenditure Survey (HCES) 2022-23, experts said.A...
Digital infrastructure, interconnected Grid, & affordable data made India most attractive investment destination: Piyush Goyal, ET BFSI
New Delhi [India], November 28 (ANI): Union Minister Piyush Goyal highlighted India's growing appeal as a global hub for emerging technologies, attributing this success to the transformative initiatives undertaken in recent years.Speaking at a press conference in...
Nirmala Sitharaman & Co said to be evaluating windfall tax, BFSI News, ET BFSI
India's finance ministry is evaluating the relevance of windfall tax, a federal government source said on Thursday.Imposed in July 2022, the windfall tax is a special levy on domestic crude oil production, introduced after rising global crude prices, to capture...
BFSI leaders strategising for the NextGen Economy, ET BFSI
Declining CASA ratio (Current Account Savings Account) is getting all the way more challenging for banks as we go, rising credit-deposit (CD) ratio that rose to 75.8% in 2023 is just another problem, increasing funding costs and limiting liquidity. Meanwhile, gross...
Over 90 pc of Indian businesses raised sustainability investments over last year: Report, ET BFSI
Mumbai, There has been a notable rise in investment in sustainability over the last one year with 91 per cent CXOs interviewed reporting an increase, indicating that climate action drives value creation and is central to the company's overall business strategy,...
Government spending and liquidity easing to spur growth: Satish Kothari, ET BFSI
"We expect pickup in government-led spending and easing of liquidity, which will start aiding growth from next quarter onwards. Last 18 months to 24 months, we have seen a lot of stock run up and sectors run up in Indian markets," says Satish Kothari, SageOne...
Fiscal deficit likely to be at 4.75 pc of GDP in FY25; govt capex to be lower by Rs 62k cr: IndRa, ET BFSI
Mumbai, The government will be able to register the fiscal deficit at 4.75 per cent in FY25, 0.19 per cent lower than the budget aim, by reigning in expenditure, domestic rating agency India Ratings and Research said on Wednesday. The revenue expenditure, excluding...
Govt working on integrated platform for insolvency ecosystem: Official, ET BFSI
The government is working on an integrated platform for the insolvency ecosystem covering key stakeholders that will also help speed up resolution processes. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, aims to provide market-linked and...
Rupee falls 15 paise to 83.44 against US dollar in early trade, ET BFSI
Mumbai, The rupee fell sharply by 15 paise against the US dollar to 83.44 in early trade on Wednesday amid muted trends in the domestic equity markets. However, a decline in the dollar index and a marginal fall in the Brent crude index prevented further losses in the...
Here’s what Morgan Stanley forecasts, ET BFSI
With government spending picking up, consumption set to recover, and food inflation moderating, India’s economy is likely to regain momentum in the months ahead, bringing growth back on track for the remainder of FY25.Morgan Stanley analysis suggests that while the...
SoftBank’s Masayoshi Son to meet PM Modi, portfolio executives on India visit, ET BFSI
SoftBank founder Masayoshi Son is slated to meet Prime Minister Narendra Modi in New Delhi on Wednesday as part of his ongoing India visit. The meeting underscores SoftBank’s continued focus on India, a crucial market for the Japanese investor. Son also met Reliance...
Tokyo’s Incubate looks to take Indian solutions to Japan, Southeast Asia markets, ET BFSI
Tokyo-based Incubate Fund, which has backed insurtech startup Plum, seafood supply chain platform Captain Fresh, mobility startup Yulu, among others, is looking to diversify into growth-stage investing in Indian startups with the aim of taking their solutions to Japan...
There’s enough cash to cover 30 months of debt payments, ET BFSI
The Adani Group may need to reduce its investment pace due to limited access to global capital markets, according to bankers. They also suggest domestic banks might hesitate to provide new loans for projects where directors are currently under investigation.The Adani...
Goldman Sachs projects India’s GDP growth at 6.3% in 2025, ET BFSI
Goldman Sachs projects India's GDP growth at 6.3% in 2025New Delhi [India], November 24 (ANI): Multinational investment bank Goldman Sachs forecasts India's GDP growth to "decelerate" to 6.3 per cent in 2025, over continued fiscal consolidation and slower credit...
Business seeks details in face of mixed COP29 climate messages, ET BFSI
BAKU: COP29 deals on finance and carbon markets could lead to billions more dollars flowing around the business world if countries next year can deliver climate plans with clear policies for markets and investment.Those plans, which are due to the climate body of the...
Govt may not sharply hike FY26 capex outlay to keep fiscal deficit in check, ET BFSI
The government is considering a reasonable increase in capital spending in the budget for FY26, albeit slower than in previous years as it looks to rein in the fiscal deficit, said people aware of initial deliberations.The Centre will continue to support growth,...
Youth unemployment rates in India lower than global levels: Govt, ET BFSI
Union Minister of State for Labour and Employment Shobha KarandlajeNEW DELHI: Union Minister of State for Labour and Employment Shobha Karandlaje cited statistics in the Lok Sabha on Monday to show that youth unemployment rates in India were lower than global...
Goldman Sachs projects India’s GDP growth at 6.3% in 2025, ET BFSI
New Delhi [India], November 24 (ANI): Multinational investment bank Goldman Sachs forecasts India's GDP growth to "decelerate" to 6.3 per cent in 2025, over continued fiscal consolidation and slower credit growth.However, Goldman Sachs said India's strong long-term...
S&P Global Ratings projects India’s GDP growth at 6.8% for 2024-25, ET BFSI
NEW DELHI: S&P Global Ratings in its latest report maintained India's GDP growth projection at 6.8 per cent for fiscal year 2024-25. However, the rating agency reduced the forecast for the next two years by 20 basis point to 6.7 per cent for 2025-26 and 26.8 perc...
Inflation to ease, economic growth to accelerate in coming months: Finance Ministry, ET BFSI
New Delhi, India's food inflation is likely to ease while the growth outlook for the economy is "cautiously optimistic" for the coming months as the agricultural sector is likely to benefit from favourable monsoon conditions, increased minimum support prices and...
India hailed for anti-money laundering efforts at Eurasian Group meet, ET BFSI
India was lauded for its efforts to implement measures against money laundering and terror financing on the first day of the 41st plenary meeting of Eurasian Group (EAG), which began in Madhya Pradesh's Indore on Monday, an official said. During the five-day meeting,...
Urban demand stabilising, not slowing, say economists, ET BFSI
The economy is projected to expand 6.8 per cent in FY25, showed an ET poll of 17 economists. The Reserve Bank of India (RBI) has forecast an expansion rate of 7.2 per cent in FY25, slower than 8.2 per cent in FY24.Urban demand in India is stabilising rather than...
IPO pipeline to remain strong; 10 companies aim to raise Rs 20,000 cr in Dec, ET BFSI
New Delhi, The primary market is expected to remain vibrant, with at least 10 companies, including supermart major Vishal Mega Mart and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd expected to raise a combined Rs 20,000 crore...
India projected to see 7% workforce growth in FY25 second half, ET BFSI
Based on data from October 2024 to March 2025, the findings reveal a dynamic hiring landscape where industry-specific demands and macroeconomic factors significantly shape employment trendsBengaluru: India will see a promising 7.1 per cent net employment growth rate...
19 agritech soonicorns, 40 minicorns embracing emerging tech for biz growth: RBI, ET BFSI
The Indian agritech landscape has significant growth potential to emerge as an institutional innovation for bridging the technological gap and the country currently has 19 agritech soonicorns and 40 minicorns, that are embracing emerging technologies like AI and...
HSBC Global Research, ET BFSI
A major portion of the Indian economy, 55 per cent, is witnessing an upward trend despite fluctuations, recent report by HSBC Global Research.The report noted that the economy was falling into a moderate track following a period of rapid stock market gains and robust...
US charges relate to a single contract, no public co accused, says Adani Group CFO, ET BFSI
MUMBAI: The US bribery charges against Adani Group relate to a single contract within Adani Green Energy, constituting approximately 10% of its operatiAdani Group faces US bribery charges linked to Adani Green Energy's $265M solar contracts, impacting 10% of its...
‘Economy and effects of Covid may delay India’s developer growth pace’: GitHub CEO, ET BFSI
GitHub CEO Thomas Dohmke says the Microsoft-owned software developer platform has deferred its earlier forecast — that had said India’s software developer base will be surpassing the US by 2027 — by one year, citing various factors such as the economic environment and...
India invested $14 trillion since independence, over 50% in the last decade: Report, ET BFSI
India’s financial landscape has seen a remarkable growth in investment spending since independence, particularly over the last decade during which more than half of the $14 trillion invested. A report by Motilal Oswal revealed that in the past 10 years, $8 trillion...
LIC losses nearly Rs 9000 crore; PSBs witness fall, ET BFSI
Adani Group Chairman Gautam AdaniAs the US authorities lashed out at Adani Group of multibillion-dollar bribery, India’s domestic institutional investor, Life Insurance Corporation of India (LIC), saw its holdings in seven Adani stocks drop by nearly ₹9,000 crore in a...
Bank of America asks three India bankers to quit after probe into information leak, ET BFSI
MUMBAI: Bank of America (BofA) has asked three investment bankers in India to leave after probes confirmed a whistleblower complaint that claimed these individuals had tipped off certain investors of upcoming secondary offerings, people aware of the matter said.The US...
Adani Group reduces leverage despite rising debt, BFSI News, ET BFSI
The Adani Group has achieved significant balance sheet improvement, with its gross debt-equity ratio falling to a 15-year low of 1.12 at the end of September 2024, down from 2.12 in FY22. This reduction reflects the group’s focus on deleveraging, supported by higher...
Bitcoin approaches $100,000 on optimism over Trump crypto plans, ET BFSI
Bitcoin came within a whisker of closing above $100,000 for the first time on Thursday as the election of Republican Donald Trump as U.S. president spurred expectations that his administration will create a friendly regulatory environment for cryptocurrencies.The...
Robust services drive India’s business activity to 3-month high in Nov, cost pressures grow, ET BFSI
India's business activity rose at its fastest pace in three months in November, helped by an improving services industry and record job creation, but output inflation spiked to a near 12-year high, a survey showed.The findings are likely to add to economic growth in...
Ashwini Vaishnaw invites German companies to invest in India, ET BFSI
New Delhi: Union Minister Ashwini Vaishnaw has invited German companies to invest in India, saying it is a trusted partner which offers political and economic stability. Addressing the TV9 Global Summit in Stuttgart on Thursday evening, he said India was growing...
Tarun Birani on their appeal amid economic uncertainty, ET BFSI
“Gold has experienced a significant rally this year, with prices increasing by over 20-25%. This surge has been driven by factors such as global economic uncertainties, geopolitical tensions, and central banks' continued demand for gold,” says Tarun Birani Founder and...
VC funding in China drops 26.8 pc during Jan-Oct as India sees surge, ET BFSI
New Delhi, As India sees a surge in venture capital (VC) funding, China saw a steep 26.8 per cent decline in VC funding (by value) in the January-October period this year, according to a new report.A total of 2,116 venture capital (VC) funding deals worth $28.2...
Gold demand tepid in India, other Asian hubs as prices rebound, ET BFSI
By Rajendra Jadhav and Rahul Paswan- Physical gold premiums slipped in India on a pull-back in demand this week as rising local prices prompted jewellers and retail buyers to stay on the sidelines, while demand for bullion in top consumer China and other major Asian...
Vertex Global Services partners with MSME Business Forum India, ET BFSI
MSME Business ForumNew Delhi, New York-headquartered business process management firm Vertex Global Services on Monday announced its partnership with industry body MSME Business Forum India. Vertex Global Services is currently operating in seven countries -- the US,...
Centre launches World Bank’s ‘jobs at your doorstep’ report, ET BFSI
New Delhi, Union Minister for Education Dharmendra Pradhan along with Minister of Labour and Employment Mansukh Mandaviya on Friday launched a World Bank report titled 'Jobs at Your Doorstep: A Jobs Diagnostics for Young People' that covers six states in India.Pradhan...
India’s forex reserves fall to $657.89 billion, down $17.7 billion as of Nov 15, ET BFSI
India's foreign exchange reserves dipped by $17.7 billion to $657.89 billion as of November 15, according to data shared by the Reserve Bank of India (RBI) on Friday.For the previous week, India's foreign exchange reserves dropped to $675.65 billion as of November 8....
Rupee rises 6 paise to close at 84.44 against US dollar, ET BFSI
Mumbai, The rupee recovered from its all-time low level and appreciated 6 paise to close at 84.44 (provisional) against the US dollar on Friday, supported by positive domestic equities. Forex traders said the rupee is trading in a narrow range as the US dollar...
EXCLUSIVE-Indian central bank asks some lenders to cut speculative bets against rupee, sources say, ET BFSI
By Jaspreet Kalra and Nimesh VoraMUMBAI, - The Indian central bank, in a rare move, instructed some banks to cut long positions on the dollar-rupee pair on Friday, seeking to reduce speculative positions with the currency at a record low, four bankers directly...
Centre releases 15th Finance Commission grant for rural local bodies in Karnataka, ET BFSI
New Delhi, The Centre has released the first instalment of the 15th Finance Commission grants for FY 2024-25 to the rural local bodies (RLBs) in Karnataka, the Union Panchayati Raj Ministry said in a statement. The funds are meant for all the 5,949 eligible gram...
Sebi investigating whether Adani Group flouted disclosure rules: Report, ET BFSI
Adani Group Chairman Gautam AdaniIndia’s capital markets regulator is looking into whether the Adani Group violated rules mandating the disclosure of market-moving information, according to people with knowledge of the matter.The Securities and Exchange Board of India...
How social commerce is transforming women-led enterprises in India, ET BFSI
New Delhi : The nasscom foundation, in partnership with LEAD at Krea University, has unveiled a comprehensive report titled “Digital Dividends: Understanding the Use of Social Commerce by Women Entrepreneurs in Rural India.” The study provides a detailed analysis of...
Piyush Goyal to industry, ET BFSI
Minister of Commerce and Industry, Piyush Goyal New Delhi: There is a need to raise quality standards in the country and industry needs to tap into its technical committees and appoint representatives to ensure standards are maintained, commerce and industry minister...
Bitcoin breaks $96,000 for first time on optimism over Trump crypto plans, ET BFSI
Bitcoin has doubled this year, up 40% since US election*Trump, pro-crypto Congress seen clearing regulatory clouds*Crypto-related stocks surging(Updates price in headline and paragraph 2 with break of $96,000)SINGAPORE, - Bitcoin's march toward $100,000 made further...
Indian exports not adversely impacted by rupee exchange rate policy, cenbank says, ET BFSI
MUMBAI, - The Reserve Bank of India's approach to managing the rupee's exchange rate has not had an adverse impact on the global competitiveness of the country's exports, the central bank said in its monthly bulletin released late on Wednesday.The Indian central bank...
Will create 4 million women in the workforce over the next three years: FICCI President, ET BFSI
New Delhi [India], 21 November (ANI): FICCI President Anish Shah announced a target to create opportunities for 4 million women in the workforce over the next three years as part of its four key focus areas for Viksit Bharat. Addressing theDuring FICCI Women in...
India’s urban development to propel GIS market growth in Asia-Pacific, ET BFSI
India's urban development to propel GIS market growth in Asia-PacificNew Delhi [India], November 21 (ANI): The geographic information system (GIS) sector in India is undergoing a revolutionary transformation, driven by urban development and cutting-edge technologies....
Strengthened by steel sector, India emerging as 5th largest global economic power: Kumaraswamy, ET BFSI
Bengaluru, Union Minister for Heavy Industries and Steel H.D. Kumaraswamy has said that India is rapidly advancing towards becoming the world's 5th largest economic power with the steel industry playing a central role in this transformation.Speaking at the Indian...
CEA Nageswaran asks India Inc not to seek protective cover of weak currency, ET BFSI
New Delhi: Chief Economic Advisor V Anantha Nageswaran on Thursday advised India Inc not to seek protective cover of weak currency as it is not a substitute for productivity and investment in research and development. A weak currency can be good for exporters, making...
LIC losses nearly Rs 9000 crore; PSBs witness fall, ET BFSI
Adani Group Chairman Gautam AdaniAs the US authorities lashed out at Adani Group of multibillion-dollar bribery, India’s domestic institutional investor, Life Insurance Corporation of India (LIC), saw its holdings in seven Adani stocks drop by nearly ₹9,000 crore in a...
Asian Development Bank to provide $4.25 billion to Tata Power for clean energy power projects, ET BFSI
Tata Power, and Asian Development Bank (ADB) on Thursday signed a Memorandum of Understanding (MoU) to evaluate financing for its several strategic projects aimed at enhancing India’s power infrastructure and promoting renewable and clean energy.The MoU outlines the...
Regulations prompt CFOs to boost cyber investments, majority to spike cybersecurity budget, ET BFSI
A report by PwC on Thursday said that all security leaders and CFOs have stated that regulations have prompted them to boost their cyber investments.It said that 74% of them are enhancing or strengthening their cybersecurity stance. It underscores the critical role of...
Rupee weakens to record low pressured by foreign portfolio outflows, ET BFSI
The Indian rupee declined to its weakest level on record on Thursday due to outflows from local stocks, which were dragged by a slump in Adani group shares, while uncertainty about the Federal Reserve's path to lowering policy rates also weighed.The rupee closed at...
Indian MSMEs create about 10 crore jobs in 15 months, ET BFSI
New Delhi, The total number of new jobs created by micro, small and medium enterprises (MSMEs) in the country has gone up by close to 10 crore in the last 15 months, official data recorded on the government's Udyam portal showed.According to the figures, the number of...
India’s consumer durable makers to log 11-12 pc growth in FY25, ET BFSI
New Delhi, Revenue of consumer durable manufacturers in India is projected to rise 11-12 per cent this fiscal (FY25), continuing the healthy run after a strong 13 per cent growth last fiscal, according to a report on Thursday.A Crisil Ratings report said this will...
Despite decline, FPIs ownership in NSE-listed stocks still stands at 36.3 pc, ET BFSI
Mumbai (Maharashtra) [India], November 21 (ANI): The Foreign Portfolio Investors (FPIs) ownership in companies listed on the National Stock Exchange (NSE) has been steadily declining over the past three years but still they are the major shareholder.According to an...
India to be insulated from trade war between US and China: Goldman Sachs, ET BFSI
New Delhi [India], November 21 (ANI): India will be relatively insulated from the global economic shocks expected from a potential trade war between the United States and China in 2025, according to a report by Goldman Sachs.The report says that despite the ongoing...
PM Modi offers to share with world India’s expertise on using Digital tech, AI, ET BFSI
Rio de Janeiro, Prime Minister Narendra Modi has offered to share with the world India's expertise in using the power of digital technology and artificial intelligence to improve the lives of people.Speaking on Tuesday at an event organised by India at the G20 Summit...
India uniquely positioned to capture 35-50% of global CIH market: BCG, ET BFSI
Capability and innovation hubs (CIHs) have an expanded portfolio of services today and India has an opportunity to capture a big share of this market, says Boston Consulting Group.CIHs are centres that provide access to high quality talent and advanced technology to...
Rupee resilient despite FII outflows, India’s contribution to world market cap grows, ET BFSI
Mumbai, India's strong macroeconomic fundamentals - robust GDP growth, controlled inflation, managed twin deficits and record foreign reserves - have kept the rupee resilient despite foreign institutional investor (FII) outflows, a report showed on Wednesday.Most of...
RBI Governor Das, Industry leaders cast votes in Maharashtra Assembly Polls, ET BFSI
Mumbai, Reserve Bank Governor Shaktikanta Das and leading captains of industry cast their vote in the financial capital for the Maharashtra Assembly elections on Wednesday. Das went to exercise his franchise with his wife at a booth near his official residence in...
Economic Affairs Secretary, ET BFSI
New Delhi [India], November 20 (ANI): Secretary to the Department of Economic Affairs, Ajay Seth, on Wednesday asserted that the government doesn't see any significant downside risks on economic growth, despite a slight slowdown and an uptick in inflation. Indian...
Gen Z and Millennials lean towards Index Funds for better returns and liquidity: Report, ET BFSI
Motilal Oswal on Wednesday released a report highlighting the behavior of young investors, especially Gen Z and Millennials, in the market. Gen Z and Millennials are increasingly favoring index funds over ETFs due to better returns and liquidity.In comparison to older...
BUSINESSNEXT Introduces India’s First AI Agent Platform named AGENTNEXT, ET BFSI
BUSINESSNEXT, a global leader in composable cloud solutions for financial services, has launched India’s first AI agent platform to modernize the banking, financial services, and insurance (BFSI) sector named AGENTNEXT, This innovative platform allows AI assistants to...
Bitcoin, cryptocurrencies not legal in India, BFSI News, ET BFSI
New Delhi, Bitcoin and cryptocurrency are in news again after allegations were levelled against Congress's Maharashtra president Nana Patole and NCP (SP)'s Supriya Sule of being involved in "illegal bitcoin activities" to fund their poll campaign. Here is a look at...
Why MSMEs should prioritise cybersecurity, financial stability, employee management, ET BFSI
India’s MSMEs are expanding their presence and are playing a critical role in the country’s economic growth. But the sector still battles challenges in cybersecurity, supply chain and cash flow, and there is an urgent need for MSMEs to prioritise investments in these...
Cybersecurity in healthcare to grow from reactive to proactive measures, ET BFSI
The healthcare industry is expected to step up spending on cybersecurity, with hospitals currently allocating 8–10% of their IT budgets for hiring experts and deploying tools to prevent cyberattacks. According to a Deloitte India analysis, this will increase to 12–15%...
Vertex Global partners with MSME Business Forum to provide omnichannel customer experience, ET BFSI
Founder & CEO of Vertex Group, Gagan Arora and Director of Development at MSME Business Forum India, Ravi Nandan Sinha, during a partnership event.NEW DELHI: PM Narendra Modi government's various initiatives and schemes for MSMEs and SMEs sector including ASPIRE,...
Piyush Goyal, BFSI News, ET BFSI
Representative imageNew Delhi: Commerce and Industry Piyush Goyal On Tuesday said the country's foreign direct investment (FDI) norms are clear for the e-commerce retail and the companies in this segment should respect the law of the land. Recently, the minister...
FSIB to interview CEO candidates for four PSU banks, ET BFSI
Mumbai | New Delhi: The government agency for selecting candidates to the top echelons at public sector financial institutions will hold interviews later this week for the position of managing director and chief executive for four banks including Indian Bank - thus...
India must elevate R&D focus; build products, jobs for higher GDP: Nasscom president, ET BFSI
India needs to elevate its research and development (R&D) focus, build pioneering products adding newer markets and leverage technology for jobs to push the gross domestic product (GDP), said industry body Nasscom’s senior executive.At a keynote speech at the...
India sees surge in online shopping scams during October festive season: McAfee, ET BFSI
As the Diwali celebrations come to an end, a troubling trend has emerged: a sharp rise in online scams aimed at festive shoppers. McAfee, a global leader in online protection, has uncovered a significant increase in cybercrime activities targeting consumers during the...
India to lead global Open Finance adoption, contribute 47% of users by 2030: GoFar Report, ET BFSI
India is set to emerge as the largest contributor to the global Open Finance user base, accounting for 47% of the projected 1 billion users by 2030, according to the Global Open Finance Adoption Report (GoFar) 2024-2030. The report, covering 48 countries, highlights...
Creditors claw back over Rs 7,500 crore as avoidance transactions surge, ET BFSI
As of September 2024, the Insolvency and Bankruptcy Code (IBC) has seen a significant rise in avoidance transaction applications, with 1,326 applications totaling Rs 3.76 lakh crore filed before the Hon’ble Adjudicating Authority (AA). These transactions, involving...
Economy likely to grow 6.7% in FY25 due to weaker Q2 performance: Report, ET BFSI
The firm estimates a growth of 6.3% in the second quarter, with a potential rebound of 6.7-6.8% in the second half of the financial year. This recovery is expected to be driven by a pickup in agricultural growth and government spending.New Delhi: The Indian economy is...
Over 3.4 million MSMEs suffer due to persistent smog, ET BFSI
Delhi AQI: Over 3.4 million MSMEs suffer due to persistent smogThe prevailing smog in the Delhi-NCR region worsening the Air Quality Index (AQI) has raised an alarming situation for businesses as it has disrupted factory operations, delayed supply chains, and reduced...
Rupee eyes breathing room as dollar rally stalls, importers may cap gains, ET BFSI
Overseas investors have pulled out USD 3.3 billion from Indian stocks and bonds on a net basis over November so far, adding to the USD 11.4 billion outflow in the previous month.The Indian rupee is likely to open steady on Tuesday and may look to make mild gains...
BFSI, flex spaces key demand drivers for office spaces in India: Report, ET BFSI
New Delhi, The banking, financial services and insurance (BFSI) and Flex Spaces emerged as key demand drivers for office spaces in India in the July-September period, accounting for 39 per cent of the pan-India absorption and an increase of 20 per cent from the...
FSIB to interview CEO candidates for four PSU banks, ET BFSI
Mumbai | New Delhi: The government agency for selecting candidates to the top echelons at public sector financial institutions will hold interviews later this week for the position of managing director and chief executive for four banks including Indian Bank - thus...
Can ‘BRICS Clear’ dent dollar dependency?, BFSI News, ET BFSI
The BRICS nations (Brazil, Russia, India, China, and South Africa) are progressing toward establishing an independent financial infrastructure, with a proposed system called 'BRICS Clear' at its core. Announced during the recent Kazan Summit, this cross-border...
India rated fastest growing G20 economy with GDP growth projected at 7 pc for 2024, ET BFSI
New Delhi, India is projected to be the fastest growing economy among the G20 countries with a 7 per cent GDP growth rate for 2024, followed by Indonesia in the second spot with 5 per cent while China is ranked third with an economic growth rate of 4.8 per cent....
Morgan Stanley lowers India’s growth for FY25; economy may expect a better Q3 show with wedding season, ET BFSI
Morgan Stanley on Monday lowered India's growth forecast in FY25 from 7 per cent to 6.7 per cent, on the back of weaker-than-expected high-frequency growth data for the second quarter, which is anticipated to grow at a slower pace of 6.3 per cent. Despite this dip,...
What’s in store for India in 2025?, ET BFSI
As the global economy continues to grapple with geopolitical tensions and financial market volatility, India stands at a critical juncture in its growth story. DBS Bank's latest report offers a nuanced perspective on the challenges and opportunities awaiting the...
How macroeconomic indicators performed in October 2024?, ET BFSI
-Samriddhi Singh Mahar & Suhani Prakash In October 2024, India's economy showed mixed performance across key macroeconomic indicators.GST revenue increased significantly and the tax revenue stood at Rs 1.87 Lakh Crore, highest GST revenue recorded since April,...
Bank of Baroda, ET BFSI
New Delhi [India], November 18 (ANI): Foreign portfolio investment (FPI) inflows into India are projected to remain positive in FY25, with an expected inflow of USD 20-25 billion, according to a report by Bank of Baroda. Despite recent outflows from the Indian...
CM Stalin at 16th Finance Commission meeting, ET BFSI
Chennai (Tamil Nadu) [India], November 18 (ANI): Tamil Nadu Chief Minister MK Stalin on Monday morning held a meeting with the 16th Finance Commission at the Secretariat, welcoming the commission's chairman and its members. He said that the recommendations made by the...
Fintech, insurtech firms dissatisfied with cloud services globally: Capgemini, ET BFSI
A report by Capgemini reveals widespread dissatisfaction with cloud services among financial services firms, with fewer than 40% of executives expressing high satisfaction with their outcomes. The findings are based on a survey of 600 executives and 120 fintechs and...
India’s forex reserves decline for sixth week to its lowest in nearly 3 months, ET BFSI
- India's foreign exchange reserves dropped for a sixth consecutive week to a near 3-month low of $675.65 billion as of Nov. 8, data from the Reserve Bank of India (RBI) showed on Friday.The reserves fell by $6.5 billion in the reporting week and are down $29.2...
Quick commerce a challenge to retailers, will become political issue: Kotak, ET BFSI
KotakFinancial services industry veteran Uday Kotak on Thursday said the successful quick commerce (Q-Com) trade poses a challenge to retailers and will become a political issue. Speaking at an event organised by CNBC TV18, Kotak also pitched for Indian businesses...
Mormugao port in World Bank’s green spotlight, BFSI News, ET BFSI
PANAJI: Mormugao Port has been chosen by the World Bank (WB) as one of three Indian ports to undergo a study aimed at promoting environmentally sustainable operations. The study, conducted in partnership with Royal Haskoning DHV, will assess the port's current...
Moody’s report highlights robust economic growth momentum amid inflation challenges, ET BFSI
India’s economy is in a “sweet spot” from a macroeconomic standpoint, blending strong growth with easing inflation, according to a recent report by Moody’s. The ratings agency projected India’s Gross Domestic Product (GDP) to grow by 7.2% in 2024, followed by 6.6% in...
Exclusive-Fragile countries make $20 billion climate finance push at COP29, letter says, ET BFSI
By Gloria Dickie and Simon JessopBAKU - A group of conflict-affected countries is pushing at COP29 to double financial aid to more than $20 billion a year to combat the natural disaster and security crises facing their populations, a letter seen by Reuters showed.The...
India’s October exports soar 19.1%; up 7.3% in Apr-Oct of 2024-25, ET BFSI
New Delhi [India], November 14 (ANI): India's overall exports, merchandise and services combined, in October were to the tune of USD 73.21 billion, a 19.07 rise on a yearly basis, Commerce Ministry data showed on Thursday. Same month last year it was USD 61.48...
S&P projects 6.5-7% annual growth for Indian economy through 2027, ET BFSI
NEW DELHI: S&P Global Ratings on Thursday projected the Indian economy to grow between 6.5-7 per cent annually in the three fiscal years till March 2027 as infrastructure spending and private consumption drive growth momentum. In its global bank outlook report,...
Are banks open or closed on Friday, November 15? Check state-wise list, ET BFSI
Banks in some states will be closed on Friday, i.e., November 15, 2024 on the occasion of Guru Nanak Jayanti/Karthika Purnima, according to the Reserve Bank of India (RBI) holiday list.The Reserve Bank of India publishes regional and national holidays state wise on...
Uday Kotak underscores three areas where India can find firepower for a transformative change, ET BFSI
Billionaire banker Uday Kotak, speaking at the CNBC TV18 Leadership Summit on November 14, dwelt upon the key factors India needs in order to get moving on the path towards a transformative change.The Founder & Director of Kotak Mahindra Bank pointed out three...
Banking and finance sector holds promise for absolute positive returns: Vetri Subramaniam, ET BFSI
"Here the two are getting combined, so they are in a sense counterbalancing each other and as I said again, risk adjusted this is one of the factor strategies which has very strong outcomes," says Vetri Subramaniam, CIO, UTI AMC.Volatility and momentum, I mean, are...
10 most climate-vulnerable countries got less than $1 year climate finance: Report, ET BFSI
Baku, As world leaders meet at the 2024 UN climate conference (COP29) in Azerbaijan, a new report by an international development agency on Thursday said people living in 10 most climate-vulnerable countries received less than $1 a year in climate finance.It warned...
Asia’s richest banker Uday Kotak reveals why, ET BFSI
Asia's richest banker, Uday Kotak, has said that the India needs good thin rotis and not Paranthas and Kulchas to become developed and rich in the next two decades. Speaking at the CNBC TV18 Leadership Summit today, Founder and non-executive Director of Kotak Mahindra...
Economies like India set to drive next wave of Asia’s growth, China’s contribution to decline: Morgan Stanley, ET BFSI
New Delhi [India], November 14 (ANI): Economies like India are set to drive the next wave of Asia's growth as the China's contribution to the region's growth is set to decline, highlighted a report by Morgan Stanley.The report noted that India, along with other...
High-Level Group on Climate Finance, ET BFSI
New Delhi, Negotiators at the UN climate conference in Azerbaijan should focus on mobilising USD 1 trillion per year by 2030 to help developing countries cope with the warming world, a new report the Independent High-Level Expert Group on Climate Finance said on...
Wholesale Inflation rises to 2.36% in October on soaring food prices, ET BFSI
Wholesale inflation, measured by the Wholesale Price Index (WPI), surged to 2.36% in October, up from 1.84% in September, according to data released by the Ministry of Commerce and Industry on Thursday.The rise in October's WPI was primarily driven by higher costs of...
Are banks open or closed on Friday, November 15? Check state-wise list, ET BFSI
Banks in some states will be closed on Friday, i.e., November 15, 2024 on the occasion of Guru Nanak Jayanti/Karthika Purnima, according to the Reserve Bank of India (RBI) holiday list.The Reserve Bank of India publishes regional and national holidays state wise on...
Bail Granted to Yes Bank-DHFL Fraud Developer Sanjay Chhabria Amid Concerns Over Trial Delays, ET BFSI
Observing that there are no chances of the immediate commencement of the trial and no time frame can be decided for its conclusion, considering the voluminous records and witnesses to be examined, a special court on Tuesday granted bail to developer Sanjay Chhabria of...
COP29 gets momentum with consensus on creation of carbon credits standards, India wants to conclude work on carbon market, ET BFSI
BAKU: With countries reaching a consensus on the standards for creation of carbon credits for the larger issue of setting up carbon markets, India on Tuesday expressed that it expects to conclude the work on the issue at the ongoing COP29 and pitched for "adequate,...
Gold rises from two-month low ahead of US inflation data, ET BFSI
By Rahul Paswan- Gold prices edged higher on Wednesday on some bargain buying after the metal dropped to its lowest in nearly two months in the previous session and as the dollar paused ahead of upcoming U.S. inflation data and remarks from Federal Reserve...
DBS Bank nominates Rajat Verma to be next India CEO, sources say, ET BFSI
NEW DELHI/HONG KONG, Nov 12 (Reuters): DBS Bank's India unit has nominated its head of institutional banking, Rajat Verma, to be the bank's new chief executive officer, two people familiar with the matter said.He is slated to replace Surojit Shome, who plans to retire...
Nifty Bank bids farewell to weekly expiries from today. So no more F&O losses?, ET BFSI
India's largest options contract Nifty Bank, which was being treated by many retail F&O traders as a lottery ticket, will have its last weekly expiry today as Sebi's new regulations come into force from next week.The markets regulator had asked both stock...
India and South Africa Join Forces to Establish Chamber of Commerce, Strengthening Bilateral Economic Ties, ET BFSI
New Delhi [India] November 13: In 2024, India and South Africa celebrate the 30th anniversary of their diplomatic relations, marking three decades of deep-rooted historical ties and cooperation. This milestone year has also seen a significant economic achievement- a...
Expanding supply capacity will contain inflationary pressure, RBI’s inflation target credible: S&P, ET BFSI
New Delhi, S&P Global Ratings on Wednesday said supply capacity in India is continuing to expand pretty quickly which will help contain inflationary pressure. S&P Senior Economist Asia Pacific Vishrut Rana said the central bank's monetary policy and inflation...
Sensex crashes 984 points, loses 1,795 points in 3 trading sessions, ET BFSI
Mumbai, The Indian stock market closed on a bearish note on Wednesday with significant declines across major indices.The Sensex fell by 984 points or 1.25 per cent to settle at 77,690, while the Nifty dropped 324 points or 1.36 per cent to close at 23,559.This week so...
BlueGreen eyeing $75 million fund for early-stage companies, ET BFSI
Anup Jain and Rajeev SuriAnup Jain and Rajeev Suri, who left early-stage venture firm Orios Venture Partners as managing partners in September 2023, have floated a new investment firm – BlueGreen Ventures, the duo told ET in an interaction.The firm is looking to raise...
Trump’s economic agenda risks global economy, return of inflation, ET BFSI
U.S. President-elect Donald Trump's economic agenda risks returning inflation to the United States and hurting economic growth worldwide, Bank of France head and European Central Bank (ECB) member Francois Villeroy de Galhau said on Wednesday."The programme risks...
Banking and finance sector holds promise for absolute positive returns: Vetri Subramaniam, ET BFSI
"Here the two are getting combined, so they are in a sense counterbalancing each other and as I said again, risk adjusted this is one of the factor strategies which has very strong outcomes," says Vetri Subramaniam, CIO, UTI AMC.Volatility and momentum, I mean, are...
Dogecoin surges over 10% after Trump names Musk, Ramaswamy to lead newly formed Department of Government Efficiency (DOGE), ET BFSI
Dogecoin surged over 10% to $0.3869 in the early Asian trading hours on Wednesday after U.S. President-elect Donald Trump said on Tuesday Elon Musk and former Republican presidential candidate Vivek Ramaswamy will lead the newly created Department of Government...
NSE inks pact with Zomato to empower delivery partners with financial literacy, ET BFSI
New Delhi, The National Stock Exchange of India (NSE) on Tuesday said it has inked a pact with online food delivery platform Zomato to promote financial literacy and investor awareness programmes among the gig economy workers. This partnership aims to launch an...
CPI surges to 10-month-high at 6.21% in Oct; IIP improves to 3.1% for Sept, ET BFSI
October's Retail Inflation at 6.21% breaches RBI's tolerance band of 2-6%India’s retail inflation rose to 6.21% in September, up from 5.49% in September, according to data from the Ministry of Statistics and Programme Implementation (MoSPI) released on Tuesday. In...
Rajeev Misra to step down from co-CEO role at SoftBank Vision Fund, ET BFSI
Rajeev Misra, the top Indian dealmaker at SoftBank, is stepping down from his leadership roles at the Japanese fund’s flagship investment vehicles. The announcement marks the end of Misra’s influential tenure, during which he steered the $100-billion Vision Fund...
Why Ambani the hydrocarbon king is betting on a humble business, ET BFSI
Dhirubhai Ambani, the founder of Reliance Industries (RIL), India's biggest conglomerate, started out with textiles and built an oil-refining and petrochemicals behemoth. His son, Mukesh Ambani, the RIL Chairman, has transitioned the conglomerate from hydrocarbons to...
UBI report, BFSI News, ET BFSI
New Delhi [India], November 10 (ANI): The continued spurt in food prices and fading of the high base effect likely led to a spike in October retail inflation figures. According to a report by the Union Bank of India, retail inflation based on the Consumer Price Index...
Bitcoin rises above $80,000 for first time, BFSI News, ET BFSI
- Bitcoin was trading near record $80,000 on Sunday after hitting it earlier in the session.Bitcoin, the world's biggest and best-known cryptocurrency, is up 65.4% from the year's low of $38,505 it hit on Jan. 23. (Reporting by Shivani Tanna in Bengaluru Editing by...
FDIs may shift to US under Trump 2.0 but it won’t impact FDIs inflow to India: SBI Report, ET BFSI
New Delhi [India], November 11 (ANI): India could see a shift in foreign direct investment (FDI) trends in the second term of Donald Trump (Trump 2.0) as President of the United States, says a research report by State Bank of India.The report highlighted that under...
FIIs won’t be rushing back unless Indian economy re-accelerates soon: Arvind Sanger, ET BFSI
Arvind Sanger, Founder & Managing Partner, Geosphere Capital Management, says the Indian economy is going through a mid-cycle slowdown. India's fate is in its own hands to the extent that the China trade at least partly the repositioning has played out to a...
Why India Isn’t Nervous About Donald Trump’s Return? EAM Jaishankar Explains, ET BFSI
EAM JaishankarMumbai: Asserting that India is not among the nations nervous about Donald Trump's return to the White House, India's External Affairs Minister Dr S Jaishankar underscored that the emerging trend is more diverse and focuses on a multi-polar world. S...
Star India to make web series on Reserve Bank, BFSI News, ET BFSI
Star India will make a web series on the Reserve Bank of India's 90-year-long journey to help people have a better understanding about the central bank's vital role in the country's fast-growing economy. The Reserve Bank of India (RBI), which was set up in 1935,...
USD 100 billion bilateral trade with Russia by 2030 is realistic, says EAM Jaishankar, ET BFSI
Mumbai (Maharashtra) [India], November 11 (ANI): Speaking at the India-Russia Business Forum in Mumbai, Indian Minister of External Affairs Dr S Jaishankar said by 2030 India-Russia bilateral trade will cross USD 100 billion. He said, "Our bilateral trade is today at...
Govt may raise EPFO wage ceiling and lower employee threshold for enhanced social security for workers, ET BFSI
New Delhi: The Centre may soon raise the wage ceiling and lower the headcount threshold under the Employees' Provident Fund Organisation (EPFO) as it aims to enhance and widen coverage for bolstering social security for workers.The current wage ceiling under the EPFO...
India to focus on climate finance, accountability, protection for vulnerable communities at COP29, ET BFSI
NEW DELHI: As world leaders and climate negotiators converge on Baku for COP29, beginning Monday, India is set to bring renewed focus to the urgent need for climate finance, accountability, and protection for vulnerable communities. Prime Minister Narendra Modi will...
USD 100 billion bilateral trade with Russia by 2030 is realistic, says EAM Jaishankar, ET BFSI
Mumbai (Maharashtra) [India], November 11 (ANI): Speaking at the India-Russia Business Forum in Mumbai, Indian Minister of External Affairs Dr S Jaishankar said by 2030 India-Russia bilateral trade will cross USD 100 billion. He said, "Our bilateral trade is today at...
IT spending revives on AI, BFSI gets growth and hiring surges, ET BFSI
After witnessing a hazy macro environment for five straight quarters, India-centric IT services firms saw green shoots in the first quarter of this fiscal. While experts were still uncertain about the continuity of tech spending, Q2 (July to September) earnings belied...
How has outlook for gold changed after US elections?, ET BFSI
A resounding victory of Donald Trump in the US Presidential elections led to a sharp decline in gold prices as traders booked profit and some selling emerged on concerns over a possible rise in the US fiscal deficit on his stance of stimulating US growth, which would...
Public digital infrastructure helped micro level players grow in India: FM, ET BFSI
Public digital infrastructure helped micro level players grow in India: FMBengaluru (Karnataka) [India], November 9 (ANI): India's approach to spreading digital infrastructure networks by country's "public money" instead of choosing private players, unlike other...
Foreign funds withdraw from Indian markets at fastest pace since 2022, trigger investor concerns, ET BFSI
Foreign institutional investors (FIIs), especially US-based funds, are pulling out of Indian markets at the swiftest pace since January 2022, with redemptions accelerating over the past five weeks. According to an analyst note from Elara Securities, India-dedicated...
India’s consumer price inflation to rise further to 5.81% on skyrocketing food costs: Reuters poll, ET BFSI
The government's decision to raise import taxes on edible oils by 20 percentage points in mid-September also likely helped to drive prices up faster, further straining household budgets.BENGALURU: Consumer price inflation in India climbed to a 14-month high of 5.81%...
India’s forex reserves fall to $682.13 billion, down $2.6 billion as of Nov 1, ET BFSI
India's foreign exchange reserves dipped by $2.6 billion to $682.13 billion as of Nov 1, according to data shared by the Reserve Bank of India (RBI) on Friday.For the previous week, the country's dipped by $3.4 billion to $684.8 billion as of October 25.The Weekly...
PRECIOUS-Gold on track for worst week in over five months, ET BFSI
Fed cuts interest rate by 25 bps on Thursday * Bullion down 1.7% for the week * Silver, platinum and palladium head for weekly decline * Gold demand in India falters this week (Recasts as of 0917 GMT) By Anushree MukherjeeGold prices retreated on Friday and were on...
India gets Trump-ready, draws up new policy briefs, ET BFSI
Senior Indian government officials are preparing fresh policy briefs, especially on trade and investment, following the election of Donald Trump as the next US president, two officials told ET. During his campaign, Trump had threatened to impose tariffs on imports to...
How about government giving ‘consumption vouchers’ to boost Indian economy?, ET BFSI
CII also suggests boosting rural income by increasing daily wages under the MGNREGA program by 40% and raising payments to PM-KISAN beneficiaries by 33%. Further recommendations include raising the unit cost under the PM Aawas Yojana housing scheme and modifying the...
How Donald Trump’s return as US President may impact India’s economy, trade, ET BFSI
The victory of Donald Trump in the 2024 US Presidential elections has sparked a fresh wave of optimism in India, particularly among market analysts and investors. With Trump set to return to the Oval Office, the focus now shifts to the potential economic and...
84.50 would be the key level to watch out for Rupee vis-a-vis dollar: Naveen Mathur, ET BFSI
Naveen Mathur, Director - Commodities and Currencies, Anand Rathi Shares & Stock Brokers, says if the rupee depreciates to around 84.50 or so, we might see RBI intervening. The rupee depreciation, although good for exports, is not good for the imports to the...
PHDCCI submits pre-Budget suggestions to Finance Ministry, ET BFSI
A delegation of PHD Chamber of Commerce and Industry (PHDCCI) met the officials of the Finance Ministry on Thursday. In its interaction with Sanjay Malhotra, Revenue Secretary and officials of Department of Revenue, Ministry of Finance, PHDCCI submitted suggestions...
Among 900 Mln transactions, Health, Fashion, and Travel lead festive spending: Razorpay, ET BFSI
The festive season in India, which typically kicks off around September, has historically fueled a surge in consumer spending. This trend was clearly reflected in October’s UPI activity, which soared to a new record with 16.58 billion transactions amounting to Rs 23.5...
Niti Aayog CEO, BFSI News, ET BFSI
New Delhi, India should be a part of the Regional Comprehensive Economic Partnership and Comprehensive and Progressive Agreement for Trans-Pacific Partnership, Niti Aayog CEO BVR Subrahmanyam said on Thursday. India pulled out of the RCEP in 2019 after entering...
Foreign outflows of $3.1 bln from Indian financials drive record monthly sales in October, data shows, ET BFSI
Foreign portfolio investors (FPIs) pulled out about $3.1 billion from Indian financial stocks in October, the second-highest amount ever from the sector and accounting for 30% of the record overall withdrawal for the month, data showed on Thursday.The 260.42...
KPMG in India names Hemant Jhajhria as Head of Consulting, BFSI News, ET BFSI
KPMG in India has named Hemant Jhajhria as Partner and Head of Consulting, who will supervise Business, Technology and Risk Consulting practices. Operating from Mumbai, he will join the India Leadership Team (ILT) and direct the firm's initiatives to combine its...
Rupee opened at 84.26 against the US dollar, after dropping to 84.1725, ET BFSI
On Wednesday, the rupee fell by 22 paise, ending at a record low of 84.31 against the US dollar. The rupee fell following Donald Trump’s victory in the US Presidential Elections 2024.The rupee dropped to 84.1725 against the US dollar, registering a 0.07% decline from...
More money may venture into Indian startups, BFSI News, ET BFSI
The Indian startup and venture investor ecosystem is looking forward to better business ties and stronger fund flow between India and the US as Donald Trump becomes the 47th US president.Startup industry executives are watching out for Trump’s policies and their...
India, US ties set to remain strong under Trump administration, ET BFSI
Washington, The India-US relationship is set to expand under the Donald Trump administration, but there could be some unease on issues like imports, tariffs and immigration, strategic affairs experts have said after the Republican leader won the fiercely contested...
Rupee hits record low as Trump claims victory, regional currencies drop, ET BFSI
The Indian rupee fell to a record low on Wednesday, hurt by a sharp rise in the dollar and U.S. bond yields as Republican Donald Trump claimed victory in the U.S. presidential election.The rupee closed at 84.28, down 0.2% from its previous close, in what was its worst...
FinMin asks PSU banks to take steps to meet loan targets for agri-allied sector, ET BFSI
New Delhi, Nov 6 (IANS) The Finance Ministry has asked public sector banks to increase credit availability for animal husbandry, dairying, and fisheries to ensure that targets are met for the current financial year.New Delhi, The finance ministry has asked public...
BFSI sector drives office space demand, Mumbai emerges hub for leasing by domestic financial institutions, ET BFSI
The banking, financial services, and insurance (BFSI) sector has seen substantial growth in office space demand, emerging as the second-largest office space lessee in India, just behind the IT/ITeS sector, according to a recent report by realty consultancy JLL. This...
Govt plans key insurance, IBC bills in upcoming Winter Session of Parliament, ET BFSI
In the upcoming winter session of Parliament, the central government is set to propose significant legislative reforms to strengthen the economy. Among these are amendments to the Insolvency and Bankruptcy Code (IBC), expected to introduce an out-of-court settlement...
Finance ministry asks banks to focus on cybersecurity and accelerating pace of lending to agriculture & MSMEs, ET BFSI
Concerned over the growing instances of cyber frauds, the finance ministry on Tuesday asked public sector banks (PSBs) to align their digital and cybersecurity frameworks with industry best practices and ensure customer protection and operational continuity as top...
India economic activity remains strong, cenbank governor says, amid rising growth concerns, ET BFSI
(Adds comments, context)MUMBAI, - Economic activity in India remains strong, with the agriculture and services sectors doing well, India's central bank governor said on Wednesday, commenting on fears the Indian economy is slowing."Data which is coming in is mixed. But...
Resurgent India says it received SEBI certificate to operate as ESG rating provider, ET BFSI
New Delhi [India], November 5 (ANI): Wholly-owned subsidiary of financial advisory firm Resurgent India, Resurgent ESG Services Pvt. Ltd (RESPL) received capital markets regulator Securities and Exchange Board of India (SEBI) approval as an Environmental, Social, and...
How US elections outcome may impact Indian economy, markets, ET BFSI
The upcoming US presidential election on November 5 carries significant implications for global markets, including India’s economic landscape. With Americans set to vote in a tightly contested race, the result could bring notable shifts in international trade,...
Until FII outflows stop, Indian market unlikely to form a bottom: Ajay Bagga, ET BFSI
Ajay Bagga, Market Expert, says the markets have discounted a lot of weakness for the corporate earnings. Most of the disappointments of the second quarter are now reflected in the share price. Now, does it go down from here? Markets are always excessive. Until we see...
Bank of Baroda, ET BFSI
New Delhi [India], November 5 (ANI): The Indian Rupee depreciated marginally in October by 0.3 per cent compared to the bloodbath witnessed in other major currencies, highlighted a report by Bank of Baroda.The report also noted that while the rupee dipped to its...
Can the proposed BRICS currency challenge the US dollar’s hegemony?, ET BFSI
In a bid to reshape the global financial landscape and reduce dependency on the US dollar, the BRICS bloc—comprising Brazil, Russia, India, China, and South Africa—has advanced its discussions on establishing a new reserve currency. During the recent BRICS Summit held...
Growth may have slipped in rainy Q2 but forecast for fiscal is sunny, ET BFSI
India’s economic growth likely moderated in July-September, primarily due to a slowdown in consumption and investment amid heavy monsoon rains in several parts of the country, according to an ET poll of 10 economists. The poll’s median estimate for gross domestic...
Rupee moves in narrow range against US dollar in early trade, BFSI News, ET BFSI
The rupee witnessed range-bound trade and appreciated by just 1 paisa to 84.06 against the US dollar in initial deals on Monday, weighed down by persistent foreign fund outflows and a muted trend in domestic equities. Forex traders said the rupee is likely to trade in...
Growth may have slipped in rainy Q2 but forecast for fiscal is sunny, ET BFSI
India’s economic growth likely moderated in July-September, primarily due to a slowdown in consumption and investment amid heavy monsoon rains in several parts of the country, according to an ET poll of 10 economists. The poll’s median estimate for gross domestic...
Indian central bank likely selling dollars to support rupee amid equity outflows, traders say, ET BFSI
MUMBAI - The Indian central bank was likely selling U.S. dollars to support the rupee after the currency declined to an all-time low, pressured by outflows from local equities, four traders told Reuters on Monday. The rupee slipped to a record low of 84.11 per U.S....
BFSI office leasing continues to surge as digital growth points to new record in 2024, ET BFSI
MUMBAI: The Banking, Financial Services, and Insurance (BFSI) sector in India has rapidly increased its demand for office spaces driven by technological advancements, digital penetration, a skilled workforce, and evolving market dynamics, with 2024 leasing activity...
Krishna Srinivasan, IMF Asia-Pacific Department, ET BFSI
India will need to undertake a lot of very serious structural reforms to meet the aspiration of being an advanced economy by 2047, Krishna Srinivasan, director of the Asia and Pacific Department (APD) at the International Monetary Fund tells Deepshikha Sikarwar in an...
Sensex crashes 1300 pts, Nifty at four-month low, ET BFSI
Mumbai, The Indian stock market was trading deep in the red on Monday's mid-session as heavy selling was seen in the auto, metal, realty and energy stocks. At 12 p.m., BSE Sensex was trading at 78,609, down 1,317 points or 1.65 per cent. On the other hand, NSE Nifty...
India’s 7%+ FY25 growth target relies on robust investment, inflation control: EY report, ET BFSI
Recent reports indicate a mixed outlook, with the Reserve Bank of India (RBI) maintaining a cautious stance on monetary policy amid rising inflation.Optimistic GDP growth projections for FY25 depend on strong government investment and effective inflation control for...
FPIs withdraw record Rs 94,000 cr from Indian equities in Oct on attractive Chinese valuations, ET BFSI
New Delhi, Foreign investors pulled out a massive Rs 94,000 crore (around USD 11.2 billion) from the Indian stock market in October, making it the worst-ever month in terms of outflows, triggered by the elevated valuation of domestic equities and attractive valuations...
India’s 7%+ FY25 growth target relies on robust investment, inflation control: EY report, ET BFSI
NEW DELHI: Optimistic GDP growth projections for FY25 depend on strong government investment and effective inflation control for India to reach over 7 per cent growth, according to Ernst & Young (EY) report.Recent reports indicate a mixed outlook, with the Reserve...
IMF sees India driving growth in Asia-Pacific region, BFSI News, ET BFSI
New Delhi, India remains the world's fastest-growing economy with investment and private consumption driving growth, according to the IMF's latest Regional Economic Outlook for Asia-Pacific. The IMF, in its World Economic Outlook report released on October 2, had...
Sebi proposes doubling the threshold for ‘high value debt listed entities’ to Rs 1,000 crore, ET BFSI
NEW DELHI: Markets regulator Sebi has proposed raising the threshold for identifying High Value Debt Listed Entities (HVDLEs) to Rs 1,000 crore from Rs 500 crore at present to reduce compliance burdens. Currently, an entity having outstanding value of listed...
Bibek Debroy, economist and Chairman of PM’s Economic Advisory Council, passes away, ET BFSI
Renowned economist and Chairman of the Prime Minister’s Economic Advisory Council (EAC-PM), Dr. Bibek Debroy, passed away at the age of 69, on Friday.Known for his profound understanding of economic theory and policy, Debroy was instrumental in shaping key economic...
Investors’ wealth surges by Rs 128 lakh cr in Samvat 2080, Gold gives 32 pc return, ET BFSI
Mumbai, As the Indian stock market ended Samvat year 2080, investors' wealth surged by a whopping Rs 128 lakh crore (about $1.5 trillion at current exchange rate) to Rs 453 lakh crore in just one year.This made Samvat 2080 the biggest wealth-creating year on record,...
India needs to create 10 million jobs/year, BFSI News, ET BFSI
NEW DELHI: India needs to create 10 million jobs annually to maintain an average 6.5% gross value-added growth, investment bank Goldman Sachs has estimated and suggested three policy focus areas to raise the country's employment rate.The suggested three areas of focus...
Fiscal deficit in 1st Half of FY25 drops to 29.4% of annual target, ET BFSI
The central government's fiscal deficit in the first half of 2024-25 touched 29.4% of the annual target, compared with 39.3% a year before, as it kept a lid on expenditure, showed official data released on Wednesday. The lower deficit, experts said, will enable the...
India’s April-September fiscal deficit at Rs 4.75 lakh crore, narrows on-year to 29.4% of FY25 aim, ET BFSI
India's fiscal deficit for the first half of this fiscal year through September stood at 4.75 lakh crore rupees, or 29.4% of annual estimates, government data showed today.The fiscal deficit widened from 39.3% reported in the comparable year-earlier period.Total...
Group of ministers propose raising affordable housing threshold to Rs 55 lakh, ET BFSI
Representative image NEW DELHI: The group of ministers (GoM) tasked by the Goods and Services Tax Council to look into application of GST for real estate is of the view that the definition of affordable housing be extended to Rs 55 lakh from the current Rs 45 lakh,...
Mid-career roles are emerging in banking and financial services, ET BFSI
Wider use of technologies such as UPI has led to accelerated adoption of digital means in financial services. This has also broadened the scope of roles in the sector, especially in the mid-career space. Dhriti Prasanna Mahanta, VP and Business Head, TeamLease Degree...
Home ministry warns against illegal digital payment gateways used by cybercriminals, ET BFSI
The Ministry of Home Affairs (MHA) on Monday warned against illegal digital payment gateways being used for money laundering operations. The ministry in a notification said the illegal payment gateways are being created using mule and rented bank accounts....
What is ‘Digital Arrest Fraud’? How to protect yourself?, BFSI News, ET BFSI
“Digital Arrest Fraud”, a new scam has emerged in the market resulting in significant financial losses for individuals and businesses. The seriousness of the scam can be understood from the fact that it became the talk point even for the Prime Minister Narendra Modi...
India remains a shining star with $3.6 bn inflows as global VC investment hits seven-year low: KPMG, ET BFSI
Global venture capital (VC) investment plummeted to $70.1 billion in Q3 2024, marking a seven-year low from a high of $95.5 billion in Q2, as highlighted by KPMG Private Enterprise’s latest Venture Pulse report.This steep decline is attributed to geopolitical...
Demand conditions in economy need to be watched: Finance ministry, ET BFSI
NEW DELHI: The outlook for the Indian economy is good, underpinned by a stable external sector, positive agricultural scenario, expected improvements in demand supported by the festive season, a finance ministry report said on Monday but cautioned that demand...
India has entered cyclical growth slowdown, RBI’s 7.2 pc estimate ‘overly optimistic’: Nomura, ET BFSI
Mumbai: Japanese brokerage Nomura on Monday said the Indian economy has entered a phase of "cyclical growth slowdown" and the Reserve Bank's estimate of 7.2 per cent GDP expansion is "overly optimistic". The brokerage said it sees "rising downside risks" to its GDP...
Indians lost Rs 120 crore in first 3 months of 2024 to the fraud that PM Narendra Modi warned about in Mann ki Baat, ET BFSI
Prime Minister Narendra Modi warned the nation about the rise in digital arrest scams during his recent Mann ki Baat address. In a shocking revelation, Indians lost Rs 120.3 crore in the digital arrest fraud during the first quarter of 2024. According to the National...
Despite record high prices, volatile market and geo-political challenges, Gold continues to shine, ET BFSI
New Delhi [India], October 29 (ANI): Gold continues to shine despite the record-high prices. The yellow metal prices saw an increase of 24 per cent this year but buying interest is still high amid volatile markets and geopolitical challenges, according to a report by...
Renewable energy projects need debt financing over grants: IREDA CMD, ET BFSI
New Delhi: Emphasizing the need for competitive debt financing over grants, Pradip Kumar Das, Chairman and Managing Director of Indian Renewable Energy Development Agency Limited (IREDA), highlighted the importance of strategic funding mechanisms for renewable energy...
CAG, RBI Governor, CEA, and SEBI Chairperson, ET BFSI
The Union Government is preparing to make critical decisions on four significant appointments over the next four months, starting with the selection of a new Comptroller and Auditor General (CAG). G S Murmu's term as the CAG is set to conclude in November, and a...
FM Nirmala Sitharaman, ET BFSI
New Delhi: Finance minister Nirmala Sitharaman called for enhanced support by multilateral development banks to poor and developing nations, especially from Africa, to realise their sustainable development goals.At a G7 African ministerial roundtable in Washington DC,...
RBI injects funds to rein in bank funding costs amid forex outflows, ET BFSI
Mumbai: The Reserve Bank of India's move on Friday to inject funds into the banking system despite the prevalence of a headline liquidity surplus reflects an adroit strategy by the central bank to ensure that recent overseas outflows from local capital markets and...
FM Nirmala Sitharaman bats for new collective climate action goal, ET BFSI
NEW DELHI: Finance minister Nirmala Sitharaman called for a "new collective quantified goal" in climate action that caters for the needs of developing countries without subjecting them to "growth-inhibiting" financing provisions.Speaking at the G20 joint meeting of...
Nirmala Sitharaman highlights Global South’s contributions to foundations of multilateral development banks, ET BFSI
Union Finance Minister Nirmala Sitharaman highlighted the contributions of the Global South to the foundations of multilateral development banks at the 1944 Bretton Woods conference and emphasized on embedding diverse voices in decision-making to ensure a truly...
IMF, World Bank need to give emerging economies prominent role in decision-making processes: Shaktikanta Das, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das highlightwhile addressing the Macro Week 2024 event in Washington called on global organisations such as World Bank and International Monetary Fund (IMF) to provide prominent role in decision-making processes to...
Job creation, redefining skills most pressing issue globally amid rapid tech changes: Nirmala Sitharaman, ET BFSI
Union Finance Minister Nirmala Sitharaman has stressed that job creation is the most critical issue worldwide, particularly given the persistent economic challenges and rapid technological advancements that are reshaping the labor market.Sitharaman highlighted the...
Is recession on the cards in US? World’s largest alternative asset management firm CEO says…, ET BFSI
The high-stake US Presidential elections is around the corner. The crucial elections is set to be one of the most impactful events for global markets and economies this year going into next. Donald Trump has reiterated commitment to tweaking US immigration policies,...
Reliance forge partnership with NVIDIA to propel India into AI age, ET BFSI
Mumbai (Maharashtra) [India], October 24 (ANI): NVIDIA CEO Jensen Huang and Reliance Industries Chairman Mukesh Ambannounced a strategic partnership to build state-of-the-art AI infrastructure in India at the NVIDIA Summit in Mumbai. The collaboration aims to...
World Bank set to double agriculture funding to $9 billion, BFSI News, ET BFSI
The World Bank is set to double farming investments as it seeks to transform the agriculture sector amid climate risks and emerging job gaps in the developing world.The Washington-based lender will increase its agricultural finance and agribusiness commitments to $9...
India wouldn’t be fastest-growing economy without people utilizing digital infrastructure: FM Sitharaman, ET BFSI
Sitharaman was speaking at the Wharton Business School, University of Pennsylvania, on Tuesday.NEW YORK (US): Finance Minister Nirmala Sitharaman stated that India wouldn't have been the fastest-growing economy if the people hadn't utilized the digital...
India to retain investment curbs on border nations despite China deal, ET BFSI
India will retain investment curbs on bordering nations, the finance minister said, days after it struck a pact with China on patrols along their disputed Himalayan frontier, with the leaders of both countries expected to meet on Wednesday.The deal paves the way to...
FM meets Citibank CEO, discusses way forward for banking system in India, ET BFSI
New York, Finance Minister Nirmala Sitharaman on Monday met Citibank CEO Jane Fraser here and discussed the banking sector in view of the decadal reforms and the way forward for India. "The two discussed the use of #AI in important sectors such as #agriculture and...
Deloitte projects Indian economy to grow 7-7.2% in FY25, BFSI News, ET BFSI
The Indian economy could grow between 7-7.2 per cent in the current fiscal on strong government spending, and higher manufacturing investments, but a tempered global growth will impact the outlook for the next fiscal, Deloitte India said on Tuesday. In its 'India...
S&P Global Market Intelligence, ET BFSI
New Delhi [India], October 22 (ANI): India's growth, although moderating, remains strong with a forecasted average of 6.8 per cent for the fiscal year 2024-25 and 6.6 per cent for 2025-26, according to S&P Global Market Intelligence.Despite a slowdown in economic...
Nirmala Sitharaman highlights India’s process, governance reforms for more investor-friendly engagements, ET BFSI
New York [US], October 22 (ANI): Union Finance Minister Nirmala Sitharaman has said that India has undertaken a host of process and governance reforms over the last 10 years for more investor-friendly engagement. While addressing the Roundtable on Investment...
India’s growth story remains intact, real GDP likely to grow at 7.2 pc in FY25: RBI Guv, ET BFSI
Representative image India's growth story remains intact as its fundamental drivers - consumption and investment demand - are gaining momentum, the RBI Governor Shaktikanta Das has stressed, adding that the country is likely to see real GDP growth at 7.2 per cent for...
Bitcoin at 3-month high, nears $70,000 mark after $2.4 bln ETF inflows, ET BFSI
At 11:45 AM IST today, Bitcoin was up 1.2% at $69,045, briefly hitting the $69,450 mark.Bitcoin stood at a three-month high in early Asian trading on Monday. The world's top cryptocurrency gained 9.6% last week and is up more than 8% for the month so far.The moving...
Continued selling by FPIs negatively impacted oil, gas and auto sectors, ET BFSI
The oil, gas, and consumable fuels sector also suffered significant outflows, with FPIs withdrawing Rs 12,371 crore. Foreign portfolio investors (FPIs) have significantly impacted key sectors such as financial services, oil & gas, and automobiles with continued...
EPFO net new member additions rise 9.07% to 18.53 lakh in August, ET BFSI
NEW DELHI: Retirement fund body EPFO's net new member additions increased 9.07 per cent to 18.53 lakh in August, compared to a year ago, according to payroll data released on Sunday. EPFO enrolled around 9.30 lakh new members in August 2024, representing an increase...
China rolls out $112 billion funding schemes to bolster stock market, ET BFSI
China's central bank kicked off two funding schemes on Friday, that will initially pump as much as 800 billion yuan ($112.38 billion) into the stock market through newly-created monetary policy tools.The People's Bank of China (PBOC) spelt out operational details of...
FM Nirmala Sitharaman bats for ‘responsible capitalism’, BFSI News, ET BFSI
New Delhi: Finance minister Nirmala Sitharaman has underscored the need for "responsible capitalism", stating that challenges for large economies are not just to achieve and sustain high growth but also to bridge gaps and create opportunities for all.Addressing a tech...
How macroeconomic indicators performed in September 2024?, ET BFSI
-Samriddhi SIngh Mahar & Suhani PrakashThe Composite PMI dropped from 60.7 in August to 58.3, with the manufacturing PMI dropping to an eight month low, indicating fierce competition and deceleration in output.Unemployment dropped to 7.8%, however, the decline in...
‘India’s growth rate is among the shiniest parts in the world economy’: Ajay Banga, ET BFSI
Washington, India's growth rate is among the shiniest parts in the world economy, World Bank president Ajay Banga said on Thursday, noting that a lot of this is driven by the domestic market. "There is no doubt that India's growth rate is among the shiniest parts in...
5 States in India with the highest FDI, BFSI News, ET BFSI
-Suhani Prakash1991 saw the introduction of some major economic reforms in India. The country adopted Liberalization, Privatisation and Globalization due to which the Foreign Direct Investments in India witnessed a drastic rise. However, the post-pandemic period saw a...
World Bank, ADB commit $1.6bn for Andhra capital Amaravati, funds to come from Jan 2025, ET BFSI
Amaravati, The World Bank along with the Asian Development Bank in principle has committed to fund USD 1600 million (Rs 13,600 crore) for Amaravati capital city phase-I development and will start releasing the amount from January next year, a senior official of the...
Full Schedule and Key Meetings, ET BFSI
Union finance minister Nirmala Sitharaman began her official visit to Mexico and the USA on Thursday. She arrived at Guadalajara Airport, also known as Miguel Hidalgo y Costilla International Airport (GDL), where she was welcomed by India’s ambassador to Mexico,...
UN climate chief, ET BFSI
At the UN climate conference in Baku, countries must agree on a new goal for international climate finance that truly meets the needs of developing nations, with public finance at its core, UN Climate Change Executive Secretary Simon Stiell said on Thursday. He said...
India poised to be third largest global economy by 2030, rising population presents challenges, says S&P, ET BFSI
India is poised to be the third largest global economy by 2030 but rising population presents mounting challenges in basic service coverage and growing investment needs to maintain productivity, S&P Global Ratings said on Thursday. It said emerging economies have...
Increase MSMEs limit to Rs 100 mn under CGTMSE to compete globally: WTCA, ET BFSI
As India steadily approaches the threshold of becoming a $5 trillion economy by 2026-27, interest in the MSME sector is soaring. With over 51 million registered MSMEs, the sector face a credit gap of Rs. 20 trillion, in spite of them contributing more than 29% to the...
FM Nirmala Sitharaman to visit US to attend meets of World Bank, IMF, ET BFSI
New Delhi: Finance minister Nirmala Sitharaman will visit the US from October 20 to 26 to attend the annual meetings of the World Bank Group and the International Monetary Fund (IMF), along with crucial huddles of the G20 nations.Sitharaman will take part in the...
World Bank Chief Economist, ET BFSI
Chief Economist for South Asia at World Bank, Franziska OhnsorgeHailing India’s economic growth journey, the Chief Economist for South Asia at World Bank, Franziska Ohnsorge, citied two assumptions for women and said if these come true, then India’s GDP could be one...
India’s rate-cut calls at risk after inflation picks up sharply, ET BFSI
Representative imageEconomists are reviewing their forecasts for interest rate cuts in India after inflation accelerated faster than expected last month, fueled by surging food prices.Several economists, including Upasna Bhardwaj of Kotak Mahindra Bank Ltd. and Gaura...
Snap Inc. and BCG’s latest report, ET BFSI
Collective spending power of Gen Z has reached $860 billion and is expected to surge to $2 trillion by 2035 with this cohort's direct spends amounting to $250 billion in 2025, a new report has shown. The report titled, "The $2 trillion opportunity: how Gen Z is...
FM Nirmala Sitharaman meets USISPF Chairman John Chambers to boost investment prospects in India, ET BFSI
New Delhi [India], October 15 (ANI): Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, interacted with members of the U.S.-India Strategic Partnership Forum (USISPF), led by Chairman John T. Chambers, in New Delhi on Tuesday. The meeting...
India among top targets for email, ransomware, malware attacks; banking, govt at risk: Report, ET BFSI
Major ransomware attack impacted multiple cooperative regional rural banks in India in August 2024.MUMBAI: Cybersecurity provider Trend Micro Incorporated recently unveiled its Trend Micro 2024 Midyear Cybersecurity Threat Report outlining India's heightened...
India’s retail inflation accelerates to 5.49%, exceeds RBI’s 4% target, ET BFSI
India's retail inflation accelerated to a 9-month high of 5.49 per cent on an annual basis in September, driven by a persistent rise in vegetable prices and a lower year-ago base. This is higher than the 5-year low of 3.65% registered in the previous month and marks...
World Bank says 26 poorest countries in worst financial shape since 2006, ET BFSI
The world's 26 poorest countries, home to 40% of the most poverty-stricken people, are more in debt than at any time since 2006 and increasingly vulnerable to natural disasters and other shocks, a new World Bank report showed on Sunday.The report finds that these...
Imported inflation edges up after months in the negative zone, ET BFSI
After remaining in the negative zone for several months, imported inflation or cost of imports is slowly edging up since the beginning of the fiscal.Contribution of imported inflation in headline the consumer price index (CPI) inflation has increased by 0.5 percentage...
Hyundai India IPO can open doors for multinationals, but will it sail smoothly?, ET BFSI
Hyundai Motor India Limited (HMIL) is set to float India's biggest initial public offering (IPO) on Tuesday aiming to garner Rs 27,856 crore. however, the grey market premium is said to be slipping.The IPO is priced in the range of Rs 1,865-1,960 per share, however,...
Top BFSI mergers & acquisitions, PE deals in Q3 CY24, BFSI News, ET BFSI
The Indian BFSI sector witnessed a significant surge in deal activity in the third quarter of CY24, with 64 transactions valued at USD 3.2 billion. According to a report by Grant Thornton, the sector saw stable growth in mergers and acquisitions (M&A) and private...
Wholesale Inflation soars to 1.84% in September on surging food prices, ET BFSI
Wholesale inflation, measured by the Wholesale Price Index (WPI), surged to 1.84% in September, up from 1.31% in August, according to data released by the Ministry of Commerce and Industry on Monday. The rise is mainly attributed to increasing food prices and select...
These NPS equity funds have given more than one year benchmark return of over 40%: Check details, ET BFSI
National Pension System (NPS) is an investment cum pension scheme initiated by the Government of India to provide old age security and pension to all citizens of India. The Scheme is regulated by Pension Fund Regulatory and Development Authority (PFRDA).Under NPS,...
Indian conglomerates set to spend $800 bn on growth, new businesses in focus, ET BFSI
New Delhi, Indian conglomerates are likely to spend about $800 billion on growth over the next 10 years, almost triple of what they spent over the prior decade, a report showed on Monday."About 40 per cent of Indian conglomerates' spending over the coming decade will...
193 companies list over 90,800 opportunities on PM internship portal, ET BFSI
The portal was opened on October 3 for companies to post the opportunities New Delhi: More than 90,800 internship opportunities have been offered by 193 companies so far on the portal for the Prime Minister Internship Scheme ahead of the commencement of registration...
US continues to be largest source of FDI in India: RBI census, ET BFSI
The US continued to be the largest source of FDI in India, followed by Mauritius, Singapore and the UK, according to an annual census of the Reserve Bank of India. Out of the 41,653 entities, which responded in the latest census, 37,407 reported foreign direct...
60% of Indian unicorn founders achieved $1-billion valuation in maiden attempt: report, ET BFSI
About 60% of the 261 unicorn founders in India who built a startup valued at over $1 billion did so in their first attempt, while 29% took two attempts to reach that milestone, a report by research analytics firm PrivateCircle said. India’s startup ecosystem has grown...
When Mukund Rajan reminisced about Ratan Tata’s vision, humility and foresight, ET BFSI
At the ETCFO Leadership Summit last year, Mukund Rajan, former chief ethics officer of Tata Group, in a fireside chat with Amol Dethe, shared valuable insights about the visionary leadership of Tata Group's Chairman Emeritus Ratan Tata. Drawing from his 12 years of...
India 10-yr bond yield to drop to 3-yr low of 6.3% by March, TT International’s executive says, ET BFSI
India's benchmark bond yield may drop to levels last in November 2021 by the end of this financial year, on strong foreign inflows and central bank rate cuts, a fixed income official from TT International Asset Management said."While foreigners have been highly active...
NSE to discontinue three weekly options contracts including Bank Nifty, ET BFSI
New Delhi, National Stock Exchange (NSE) has announced that weekly index derivatives contracts on Bank Nifty, Nifty Midcap Select, and Nifty Financial Services will be discontinued effective from November 13, November 18 and November 19, respectively.This decision by...
GDP for FY25 to hover between 7.5-8%, bank credit growth spikes: PHDCCI, ET BFSI
GDP for FY25 to hover between 7.5-8%, bank credit growth spikes: PHDCCI The PHD Chamber of Commerce and Industry (PHDCCI) on Thursday released Economic Monitor Report for October 2024 projecting India's GDP growth for 2024-25 to exceed previous forecasts. It is likely...
Ratan Tata, a philanthropic icon, passes away in Mumbai, ET BFSI
Ratan Tata, the chairman emeritus of one of India’s biggest conglomerates, Tata Sons, has passed away. "It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the...
BSE on Ratan Tata’s death, ET BFSI
Leading stock exchange BSE on Thursday acknowledged Ratan Tata's lasting influence on the nation's business landscape, saying "India has lost a pioneer, but not his legacy." In its condolence message on the death of Tata, BSE highlighted the industrialist's...
A timeline of the business tycoon’s life, ET BFSI
Ratan Tata, chairman emeritus of Tata Sons, passed away on Wednesday night at the Breach Candy Hospital in Mumbai. He was 86 years old.Ratan Tata's remarkable life was a testament to his unwavering commitment to excellence, innovation, and philanthropy. As the head of...
FM Sitharaman condoles Rata Tata’s demise, ET BFSI
New Delhi [India], October 10 (ANI): Union Finance Minister Nirmala Sitharaman condoled the demise of industrialist Ratan Tata who passed away on Wednesday, and said that his strong commitment to innovation, ethical business practices, and social responsibility...
EPFO announces Productivity Linked Bonus for eligible employees; check who can take advance on PLB, ET BFSI
The Employees' Provident Fund Organization (EPFO) has announced an advance payment of the Productivity Linked Bonus (PLB) for eligible employees for the year 2023-24.Advance against productivity linked bonusThe Competent Authority has announced that for the year...
World Bank ups India’s growth forecast for FY25 to 7% due to rising private consumption, ET BFSI
The World Bank on Thursday uped India's economic growth forecast for the current fiscal year, ending in March 2025, to 7% year-on-year, up from April's estimate of 6.6%, helped by a rebound in agricultural output and increased private consumption."You have an emerging...
Monthly income of rural households increased by 57.6% in 5 yrs: NABARD survey, ET BFSI
A recent survey by the National Bank for Agriculture and Rural Development (NABARD) has revealed that average monthly income of rural household grew by 57.6 per cent in 5 years.The second 'All India Rural Financial Inclusion Survey (NAFIS) 2021-22 found that the the...
India’s rural household income jumps 57.6% over five years, debt rises too: NABARD survey, ET BFSI
The average monthly income of rural households in India has surged by 57.6% over five years, increasing from Rs 8,059 in 2016-17 to Rs 12,698 in 2021-22, according to NABARD’s latest All India Rural Financial Inclusion Survey (NAFIS) 2021-22. This growth corresponds...
Remembering Ratan Tata’s legacy, BFSI News, ET BFSI
Ratan TataBY: Amol Dethe Ratan Naval Tata, one of India’s most revered industrialists and a paragon of leadership, passed away at the age of 86. His demise marks the close of a remarkable chapter in the annals of global business. A towering figure in Indian industry,...
India mourns Ratan Tata’s demise, BFSI News, ET BFSI
India loses a visionary business leader, and an iconic philanthropist – Ratan Naval Tata – on late night of Wednesday, a loss that shook the entire nation.He was hospitalised in Mumbai's Beach Candy, and on October 7, Tata issued a statement to dispel rumours about...
India calls for concerted effort to reform international financial architecture for debt free Global South, ET BFSI
United Nations, India has called for a concerted global effort to reform the international financial architecture to ensure debt sustainability and prevent debt traps for the Global South that has been disproportionately impacted by multiple crises. India's Permanent...
CREDAI on RBI interest rate policy, ET BFSI
New Delhi, The RBI should have cut key interest rates to boost growth in the real estate sector and the overall economy as any reduction in mortgage rates would have further accelerated housing demand in the current festive quarter, according to industry players. The...
BFSI sector witnessed 64 deals, 18 M&A and 2 IPOs in Q3 CY24: Report, ET BFSI
The BFSI (Banking, Financial Services, and Insurance) sector witnessed a significant increase in deal activity in the third quarter of CY24, marking the highest quarterly volumes and the second-highest quarterly values since Q2 CY22.Q3 CY24 saw as many as 64 deals in...
Why hasn’t the wealth effect kicked in yet in India?, BFSI News, ET BFSI
India's household financial net worth (HHFNW) has significantly improved in the post-pandemic period, driven primarily by gains in equity and investment funds (E&IFs). However, according to a report by Motilal Oswal Financial Services, this increase has not yet...
Atal Pension Yojana surpasses 7 Cr enrollments with 56 Lakh new subscribers in FY25, ET BFSI
Atal Pension Yojana, the Government of India’s social security scheme, has crossed the 7 crore mark for gross enrollments, the Pension Fund Regulatory and Development Authority (PFRDA) said on Tuesday.The financial year FY25 saw over 56 lakh new enrollments,...
BFSI sees significant employment verification discrepancies amid 44% increase across major sectors, ET BFSI
As companies increasingly focus on trust and transparency in their hiring processes, the demand for thorough employment verification is surging. AuthBridge, a provider of digital-first background verification and authentication solutions, has reported a significant...
The coming 21st ASEAN-India summit and way forward, BFSI News, ET BFSI
The 44th ASEAN summit and the 21st ASEAN-India summit are going to take place this week in Vientiane. Started in 2002 in Cambodia, the ASEAN-India annual summit process has entered into the third decade of partnership. ASEAN-India relations have grown from strength to...
Asian Development Bank approves $42 mn loan for coastal protection in Maharashtra, ET BFSI
The Asian Development Bank (ADB) has approved a USD 42 million loan to provide coastal and riverbank protection ecosystems in Maharashtra. As per an official statement by ADB, the approved loan will help to increase resilience of local communities and natural...
Deloitte, BFSI News, ET BFSI
RepresentationalThe Indian e-commerce market is projected to grow at a compound annual growth rate (CAGR) of 21% and reach $ 325 billion in 2030, as per Deloitte’s report released on Monday.The report said that the retail sector is expected to grow at 8%, e-commerce...
Indian startups raised $10 bln across 229 deals, BFSI top funded sector: Report, ET BFSI
Startups in India raised USD 10 billion across 229 deals in Q3 CY24, signaling a decline in total funding ( approximately 15 per cent) on a QoQ basis. The deal volumealso decreased from 318 to 229 deals (about 30 per cent) compared to Q2 CY24, revealed a latest report...
RBI interest rate decision, Middle East conflict, FII trading activity to decide fate of Indian markets this week: Analysts, ET BFSI
NEW DELHI: This week, investors' sentiments would hugely be impacted by the RBI’s interest rate decision, Middle East conflict and trading activity of foreign investors, according to analysts.Furthermore, market trends would also be influenced by quarterly earnings...
Private capital expenditure to improve in first half of FY 25: CII Survey, ET BFSI
New Delhi [India], October 6 (ANI): The private capital expenditure is expected to improve in the first half of FY 25 as compared to the second half of FY 24, highlighted a survey report by the Confederation of Indian Industry (CII).It noted that more than half (59...
Why are Mudra loan disbursements falling?, BFSI News, ET BFSI
For the first time since the Covid-19 pandemic, loan disbursals under the Pradhan Mantri Mudra Yojana (PMMY) have seen a slight dip in the first half of the current financial year. As of September 2024, disbursements stood at Rs 1,86,284 crore, compared to Rs 1,91,863...
India, UAE investment promotion, protection treaty comes into effect from Aug 31: FinMin, ET BFSI
New Delhi, The government on Monday said bilateral investment treaty (BIT) signed between India and the UAE has been enforced from August 31 this year. The BIT was signed on February 13 this year at Abu Dhabi, UAE, and it entered into force with effect from August 31,...
India poised for 7%+ growth despite global uncertainty, says PM Modi at Kautilya Economic Conclave, ET BFSI
India will continue with its programme of structural reforms on its way to becoming a developed nation, Prime Minister Narendra Modi said, describing the country as a “sweet spot” amid global uncertainty. “The government is following the mantra of Reform, Perform and...
Finance Minister Nirmala Sitharaman calls for faster cap investment rollout by states, ET BFSI
Finance minister Nirmala Sitharaman on Friday asked expenditure secretary Manoj Govil to coordinate with states to expedite the submission and approval of project proposals and ensure that they undertake capital investments in a timely and efficient manner.Under the...
Asia-Pacific’s private credit market poised for growth, says Moody’s amid economic upsurge, ET BFSI
Private credit markets in the Asia-Pacific region have experienced rapid growth over the past decade and are expected to continue expanding, according to Moody’s Ratings. The rating agency attributes this growth to increasing economic activity and financing needs in...
TDS and STT among key tax and financial changes from this month, ET BFSI
Several significant tax and financial proposals outlined in the Union Budget 2024 have come into effect as of October 1, following their ratification in the Finance Bill. These changes impact various areas, including Tax Deducted at Source (TDS) rates, buybacks of...
Employment in India up 36% with 17 mn jobs between 2016-17 and 2022-23: Centre, ET BFSI
Employment data from the Reserve Bank of India's KLEMS database, which relies on surveys like the Employment and Unemployment Survey (EUS) and Periodic Labour Force Survey (PLFS), indicates a steady rise in employment since the 1980s, according to the Ministry of...
Unsecured business loans showing early signs of stress: India Ratings, ET BFSI
The unsecured business loan segment has started showing early signs of stress in asset quality, possibly due to the increasing competitive intensity among lenders, domestic rating agency India Ratings has said.The agency is seeing continuing pressure on cash flows in...
Tax on several mass-use products may be reduced, ET BFSI
Representative imageA ministerial panel on GST rate rationalisation is considering lowering GST rates on several mass-use items, including medicines and tractors, to 5%. However, the tax on products like cement is likely to remain unchanged. Tractors currently face a...
India’s forex kitty jumps USD 12.588 bln to hit record high of USD 704.885 bln, ET BFSI
Mumbai, India's forex reserves jumped by USD 12.588 billion to a new all-time high of USD 704.885 billion for the week ended September 27, the Reserve Bank said on Friday. The overall kitty had swelled by USD 2.838 billion to USD 692.296 billion in the previous...
PM internship scheme will focus on economically weaker sections, ET BFSI
">Alembic Pharmaceuticals, Mahindra & Mahindra and Max Life Insurance were among the first batch of 111 companies that have already "come on board" to roll out this voluntary scheme, said the functionary.New Delhi: The PM internship scheme will be aimed at...
RBI Retail Direct Scheme sees 80.49% surge in user registrations since launch of the app, ET BFSI
~Samriddhi Singh MaharRBI’s retail direct scheme has seen an increase of 80.49% in user registrations since after the launch of RBI’s Retail Direct App. The app was launched to support RBI’s Retail Direct Scheme, which allows individual retail investors to open a...
Indian economy in sweet spot for next 20 years but learn lessons from recent market crash: Anurag Singh, ET BFSI
Anurag Singh, Managing Partner, Ansid Capital, says the Indian economy persistently is in such a sweet spot for the next 20 years, that no other country can match it. There is no stopping India demographics for the next 20 years. But markets can price in too much at...
India to take five years to almost achieve an income feat that earlier took 75 years: Nirmala Sitharaman, ET BFSI
Finance Minister Nirmala Sitharaman expressed optimism about India's economic growth, projecting that per capita income will increase by $2,000 over the next five years. During her address at the Kautilya Economic Conclave, she highlighted that it took 75 years to...
67% business leaders believe GenAI improves credit risk assessment: Report, ET BFSI
A recent survey has revealed that nearly 67 per cent of global business leaders believe that Generative Artificial Intelligence (GenAI) will significantly improve credit risk assessment. It also highlighted that a majority of respondents, around 68 per cent consider...
India’s Services PMI falls to 57.7, slowest expansion since November 2023, ET BFSI
India’s Services PMI for the month of September followed the trend in Manufacturing PMI, dips to 57.7 from 60.9 in August, the report by S&P Global showed on Friday. India's services sector witnessed a slower rate of expansion in September 2024, according to the...
Survey, BFSI News, ET BFSI
Artificial Intelligence (AI) continues to shape the wealth management industry, with 62% of wealth management firms acknowledging that it will significantly transform their operations, according to a report by London Stock Exchange Group. This will need to meet the...
How TRAI’s new whitelisting rules for commercial messages impact bank, insurance firms’ customers, ET BFSI
Representative image.As the Telecom Regulatory Authority of India’s (TRAI) new whitelisting regulations for commercial messages come into effect from October 1, 2024, businesses across sectors including banks and insurance companies are adjusting to the changes. The...
NITI Aayog launches Women Entrepreneurship Platform state chapter in Telangana, ET BFSI
BVR Subrahmanyam, CEO, NITI Aayog, Co-chair of WEP and Joint Managing Director of Apollo Hospitals Group Dr Sangeetha Reddy, Anna Roy, IES, Principal Economic Advisor, NITI Aayog & Mission Director, WEP, Jayesh Ranjan, Special Chief Secretary for IT, I&C...
Raghuram Rajan warns taking food off inflation table will be the wrong recipe, ET BFSI
Amid rising debate over how to handle India's persistent food inflation, Raghuram Rajan, former Reserve Bank of India (RBI) Governor, has cautioned against excluding food prices from inflation calculations. As inflation remains a key concern for the central bank,...
Rs 11 lakh crore wiped out as Sensex plunges over 1,800 points; 4 key factors behind today’s market crash, ET BFSI
Benchmark equity indices were trading sharply lower on Thursday, with the Sensex dropping over 1,800 points and the Nifty50 slipping below the 25,250 mark. The decline was in line with losses in other Asian markets as investors curbed their risk appetite amid the...
Indian households now directly own 21.5% of India’s listed equities, ET BFSI
The long-held belief that Indian households are conservative in their exposure to the capital markets is being challenged, according to a report from Motilal Oswal Financial Services. The report, which replicates the Reserve Bank of India’s (RBI) quarterly estimates...
62pc of Indian professionals believe AI is key for growth at work: Report, ET BFSI
New Delhi, About 62 per cent of professionals in India are convinced that getting ahead in their career now depends on their comfort with Artificial Intelligence (AI), according to a new report on Thursday.The report from networking platform LinkedIn showed that as...
India’s financial ecosystem booms, to become $1 trillion digital economy by 2028, ET BFSI
NEW DELHI: India is set to become a $1 trillion digital economy by 2028 with deep internet penetration, efficient and cheap 4G and 5G services combined with the government's digital initiatives, a recent report by Ask Capital has said.India's financial ecosystem has...
DGGI sends 300 notices to cos’ top brass over input tax credit, ET BFSI
The Directorate General of Goods and Services Tax Intelligence (DGGI) has sent out over 300 show-cause notices to promoters, directors and top management of companies. It has also sought to impose penalties, as high as 100%, for wrongfully availing input tax...
Lawrence Summers, BFSI News, ET BFSI
Global economic growth is set for a transformative shift, driven by artificial intelligence (AI) and technological advancements, American economist Lawrence H Summers said while cautioning against leaving technology unchecked.Speaking at the diamond jubilee event of...
Mahatma Gandhi wasn’t the first choice for currency notes, BFSI News, ET BFSI
A nation’s currency quietly tells the story of its history, culture and heritage through symbols and images it carries. Around the world, many countries honour their founding leaders on their notes: George Washington in the US, Mohammad Ali Jinnah in Pakistan, and Mao...
Seven finance lessons to learn from Mahatma Gandhi on his birth anniversary, ET BFSI
As India celebrates the 155th birth anniversary of Mahatma Gandhi today, we reflect on his enduring legacy, not just in social and political movements but also in everyday life. Gandhi’s teachings and principles hold significant value in a variety of fields, including...
FM Sitharaman hails rise in credit-driven consumption in rural India, ET BFSI
New Delhi, Finance Minister Nirmala Sitharaman has lauded the meteoric rise in credit-driven consumption in small cities and towns, calling it a "revolutionary shift" that has been made possible due to the Pradhan Mantri Jan Dhan Yojana (PMJDY).A definitive surge has...
No new anti-profiteering investigations under GST from April 1, 2025, ET BFSI
Tax authorities will not accept any new investigation for anti profiteering cases under goods and services tax (GST) from the next financial year (2025-26). The centre on Tuesday notified April 1, 2025 as a cut off date after which no new anti-profiteering...
52% of Women Entrepreneurs adopt sustainability practices, only 14% access Green Finance: Report, ET BFSI
According to the Women and Finance report by DBS Bank India and CRISIL, 52% of self-employed women in Indian metros have implemented sustainability policies in their businesses. However, only 14% have approached banks for sustainability-linked finance.Traditional...
India’s current account deficit widens marginally to 1.1 pc of GDP in April-June, ET BFSI
Mumbai, The country's current account deficit widened marginally to USD 9.7 billion or 1.1 per cent of GDP in April-June 2024, as against USD 8.9 billion or 1 per cent in the year-ago period, Reserve Bank of India said on Monday. The crucial number representing the...
FM to Northeast RRBs, ET BFSI
Itanagar, Union Finance Minister Nirmala Sitharaman on Monday directed the Regional Rural Banks (RRBs) of the Northeast to increase their share in ground-level agriculture credit disbursement with a special focus on horticulture and allied agriculture activities such...
India’s Manufacturing PMI drops to 8-month low at 56.5 in September, ET BFSI
India’s seasonally adjusted Manufacturing Purchasing Managers’ Index (PMI) fell to an eight-month low of 56.5 in September, according to data released by S&P Global on Tuesday.The index was down from 57.5 in August, marking the slowest pace of expansion in 2024,...
Date, features, eligibility, eKYC and more, ET BFSI
~Samriddhi Singh MaharThe government has announced that the 18th Installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme will be released on 5th October 2024. It is one of the largest DBT schemes in the world. Under this scheme, farmers will get a...
Credit-led consumption helps companies boost sales in rural India, ET BFSI
India’s traditionally cash-dominated smaller towns and rural areas are witnessing an increase in credit-driven consumption, spurred by deeper penetration of consumer financing and new bank account openings under the government's Pradhan Mantri Jan Dhan Yojana...
Labour-intensive industries need to be promoted to generate more jobs: Raghuram Rajan, ET BFSI
Reserve Bank of India’s former governor Raghuram Rajan said that India was creating enough jobs as reflected by the number of applicants for vacant posts in some states with 7 per cent economic growth. Rajan suggested that the focus must be on promoting...
Market capitalization of 8 of top-10 most valued companies soars Rs 1.21 lakh crore, ET BFSI
The combined market capitalization of eight out of the top-10 most valued companies increased Rs 1,21,270.83 crore last week, aligning with the outstanding rally in benchmark equity indices, with the BSE Sensex surging 1,027.54 points or 1.21 per cent. The benchmark...
India bond yield curve steepens as short-duration supply set to fall in second half, ET BFSI
By Dharamraj DhutiaMUMBAI, Sept 27 - The India government bond yield curve steepened with long-end rates seeing a small uptick on Friday after the government's borrowing plan for the October-March period saw a reduction in the shorter end and higher supply of...
How long will the BFSI stock rally last?, BFSI News, ET BFSI
The rally in the Banking, Financial Services, and Insurance (BFSI) sector is expected to be short-lived, driven primarily by a potential recovery in deposit growth as the Reserve Bank of India (RBI) embarks on its easing cycle. According to a note from Emkay Global...
Telangana launches skill training programme for jobs in BFSI sector, ET BFSI
Telangana Chief Minister A. Revanth ReddyHyderabad, Telangana Chief Minister A. Revanth Reddy said on Wednesday launched skill training for Banking Financial Services & Insurance (BFSI) sector and stated that his government is focussing on skill development to...
Rupee will remain stable with positive momentum supported by FPI inflows: Union Bank, ET BFSI
New Delhi [India], September 26 (ANI): As the fed rate cuts have increased the liquidity in the Indian markets, the Indian rupee will get support against the dollar and will trade around Rs 83.57, highlighted a research report by the Union Bank of India.The report...
ADB retains India’s growth forecast at 7%, ET BFSI
The Asian Development Bank (ADB) on Thursday retained India’s GDP growth projections at 7% for FY25.A day before, S&P Global ratings too maintained India’s growth forecast at 6.8% for the ongoing financial year.The report by ADB highlighted that an above-average...
MoSPI consults economists for base revision to GDP, CPI, ET BFSI
The Ministry of Statistics and Programme Implementation (MoSPI) held a meeting on Tuesday with its officials, economists and forecasters to address delays and propose improvements in key macroeconomic data, focusing on growth and inflation metrics.Saurabh Garg,...
Hyundai IPO to cement India as global destination for raising capital, ET BFSI
The proposed initial public offer (IPO) by Hyundai, with its Korean parent offering to sell a 17.5% stake in the Indian subsidiary, has reportedly got the nod of the Securities and Exchange Board of India. The $3 billion IPO is set to cement India's growing appeal as...
Govt’s plan to ramp up its flagship health insurance scheme
The Indian government is preparing to expand its flagship health insurance program, Ayushman Bharat, as it marks six years since its launch. A key focus is on revising the package rates for over 1,900 medical procedures covered under the scheme and considering...
Report, BFSI News, ET BFSI
The company's report reveals insights into the regional concentration of GCCs and the industries driving their growthBengaluru is the most prominent hub for global capability centres (GCCs) in India, according to a report by tech staffing and learning solutions...
Gold records new high of Rs 76,000 over Fed rate cut, geopolitical tensions, ET BFSI
Gold prices in the international markets reached an all-time high today. The price of 24-carat gold in India reached a record high of Rs 75,280 for 10 grams, equaling to Rs 7,528 per gram.The rate for 22-carat gold on the other hand was recorded at Rs 69,007 for 10...
Leading the Future of Fund Administration Amid Market Challenges, ET BFSI
Technology, talent, and a great work environment are crucial for success in the rapidly evolving fund administration sector. As the industry grows with the rise of hedge funds and private equity—driven by increased capital and low interest rates—more firms are...
How macroeconomic indicators performed in August 2024?, ET BFSI
India’s GDP growth for Q1 FY25 (April-June) slowed to 6.7%, marking a 15-month low, largely due to reduced government spending. Recently, the Reserve Bank of India’s Governor said that the country's growth story remains intact, backed by strong fundamentals. Both the...
JPMorgan CEO Jamie Dimon, ET BFSI
Geopolitics, rather than finance itself, would determine the direction of the global economy in the immediate future, says Jamie Dimon, Chairman & CEO, JPMorgan. The US dollar will remain the dominant monetary unit, Dimon tells Sangita Mehta, MC Govardhana Rangan...
Sebi investigates 6 local investment banks over handling of small IPOs: Report, ET BFSI
India's securities regulator, worried about malpractice in a frothy IPO market, is investigating six domestic investment banks that have worked on offerings by small businesses, two sources with direct knowledge of the matter said.The probes by the Securities and...
S&P Global retains India’s FY25 GDP forecast at 6.8%, BFSI News, ET BFSI
S&P Global Ratings has maintained its projection for India’s GDP growth at 6.8% for the current fiscal year.The report also said that the Reserve Bank of India (RBI) may begin cutting interest rates in its October 7-9 Monetary Policy Committee Review. In its Asia...
India Sept business growth at nine-month low as demand eases, PMI shows, ET BFSI
Growth in India's business activity slowed to a nine-month low in September amid a slight cooling in demand and an uptick in costs, according to a survey that also showed services sector jobs rose at the fastest pace in two years.HSBC's flash India Composite...
Aspirational India fuels auto loan surge as private consumption rises, ET BFSI
">The consumers in the country are engaging in informed auto finance decisions by conducting broader searches, using general terms like "car loan interest rates"or "auto loan eligibility".New Delhi: As private consumption rises across the country, there has been a...
Disagree with Hindenberg charges on SEBI, can’t blame regulators for delaying decision, says Aswath Damodaran, ET BFSI
">"Indian Regulators get no upside from making decisions, they get a downside when you they take the decision and it goes wrong," said Prof. Aswath DamodaranDamodaran shared his insights on the evolving landscape of startups, banks, and the stock market, and delved...
Congress’ Manickam Tagore writes to Union FM Nirmala Sitharaman addressing “shortage of currency notes”, ET BFSI
Madurai (Tamil Nadu) [India], September 21 (ANI): Congress MP Manickam Tagore wrote a letter to Union Finance Minister Nirmala Sitharaman to bring her attention towards the "severe shortage" of lower denomination currency notes and said that the situation is causing...
36 Indian startups secure massive $628 mn in funding this week, a 174 pc surge, ET BFSI
New Delhi, The Indian startup ecosystem saw massive funding flow this week at more than $628.24 million raised by 36 startups -- a whopping 174.5 per cent surge from last week.The funding momentum was led by edtech company Physics Wallah (PW) which secured $210...
FII single-day buying hits 3-year high of Rs 14,000 crore. Is Fed turning foreigners ferocious buyers?, ET BFSI
Encouraged by Fed's jumbo rate cut of 50 basis points, fall in US weekly jobless claims and FTSE rejig, foreign investors made their largest single-day shopping in the last 3 years on Friday when they bought stocks worth Rs 14,064 crore in the cash market.Friday's...
Nirmala Sitharaman urges banks to leverage UPI for growth, BFSI News, ET BFSI
Finance Minister Nirmala Sitharaman has urged banks to utilise digital footprints generated by UPI to expand their balance sheets. She made these remarks during a Bank of Maharashtra event on Thursday."I would like to think that the potential of the Indian banking...
Climate finance from multilateral banks up to $125 billion in 2023, ET BFSI
By Marcela AyresBRASILIA, Sept 20 - Global climate finance from multilateral development banks grew by 25% in 2023 to a record $125 billion, according to a report on Friday, with the fastest growth coming in richer countries.According to the report, climate finance...
ED grills ex-CFO of Religare Enterprises in money laundering probe, ET BFSI
The Enforcement Directorate (ED) on Thursday recorded the statement of Religare Enterprises' former finance chief Nitin Aggarwal in connection with a money-laundering probe, people in the know told ET.Aggarwal was questioned on the employee stock option plan (Esop) of...
Banks unable to keep up; pension, insurance & capital markets to replace bank deposits: BFSI Honchos, ET BFSI
Top BFSI leaders highlighted how banks are unable to keep up with the digital data and services and how, soon, pension, insurance and capital markets will take the market share of bank deposits. "Pension, insurance and capital markets are playing out well and somewhat...
How will US Fed rate cut impact India?, BFSI News, ET BFSI
The US Federal Reserve’s recent decision to cut its benchmark interest rate by 50 basis points has sparked discussions on its potential ripple effects across global markets, including India. While the move marks a shift in the Fed’s stance from curbing inflation to...
ED grills ex-CFO of Religare Enterprises in money laundering probe, ET BFSI
MUMBAI: The Enforcement Directorate (ED) on Thursday recorded the statement of Religare Enterprises' former finance chief Nitin Aggarwal in connection with a money-laundering probe, people in the know told ET.Aggarwal was questioned on the employee stock option plan...
ICAI launches AQMM 2.0 to elevate audit standards for listed entities, banks, and insurance firms, ET BFSI
The Institute of Chartered Accountants of India (ICAI) has officially rolled out the Audit Quality Maturity Model (AQMM) 2.0, which applies to firms auditing listed entities, banks (excluding co-operative banks), and insurance companies.This new model follows the...
Constant innovation needed to remain competitive for BFSI players, says SBI MD, ET BFSI
Top banking and financial industry leaders feel innovation is the way forward, but it must be balanced with effective risk management and an understanding of evolving customer needs. By leveraging technology, forging partnerships, and focusing on customisation,...
Rescues for large defaulters may strike an informal note, ET BFSI
The Centre would soon put in place a creditor-led insolvency resolution mechanism, largely involving out-of-court arrangements for even big loan default accounts, to ease the bankruptcy court burden and quicken recoveries for lenders, people aware of the development...
India’s wholesale inflation eases to 1.31% in August as fuel prices turn negative, ET BFSI
India's wholesale inflation eased to a four-month low at 1.31 per cent on an annual basis in August from 2.04 per cent in July, as fuel prices turned negative and the pace of rise in food prices slowed.In August 2023, wholesale inflation was recorded at (-)0.46 per...
ICAI launches AQMM 2.0 to elevate audit standards for listed entities, banks, and insurance firms, ET BFSI
The Institute of Chartered Accountants of India (ICAI) has officially rolled out the Audit Quality Maturity Model (AQMM) 2.0, which applies to firms auditing listed entities, banks (excluding co-operative banks), and insurance companies.This new model follows the...
FM Nirmala Sitaraman to launch National Pension Scheme variant for children; check details, ET BFSI
NPS Vatsalya launch today: Nirmala Sitharaman, the Union Minister for Finance and Corporate Affairs, is set to launch the NPS Vatsalya scheme today, following the announcement made in the Union Budget 2024-25. The NPS Vatsalya launch will include the introduction of...
India’s trade deficit expands to USD 29.7 Bn in August as exports retard, ET BFSI
India’s trade deficit in August expanded at USD 29.65 Billion, driven by a combination of declining exports and rising imports, as the data by the Ministry of Commerce and Industry showed on Wednesday. The total exports for August 2024 amounted to USD 65.40 billion,...
Rupee climbs to highest in over a month with Fed rate cut in sight, ET BFSI
The Indian rupee climbed to its highest level in over one month on Tuesday, lifted by rising expectations that the U.S. Federal Reserve will kick off policy easing with a 50 basis points rate cut this week.The rupee closed at 83.75 against the U.S. dollar, up 0.1%...
BFSI leaders on encashing digital economy, ET BFSI
For the BFSI companies 10% of their operations cost is dedicated to digital as nobody wants to stay away from the digital. But building digital rails and investing is only part, how to derive value out of it is the biggest question? How will CXOs convince the...
Gaming, BFSI top GST evading sectors as DGGI detects Rs 2 lakh crore evasion, ET BFSI
The Directorate General of GST Intelligence (DGGI) uncovered an unprecedented Rs 81,875 crore in Goods and Services Tax (GST) evasion by the online gaming industry in FY24. This marks the highest evasion detected in a single sector, part of the record-breaking Rs 2.01...
Rupee ends flat; forward premiums climb on Fed rate cut hopes, ET BFSI
The Indian rupee ended unchanged on Monday while dollar-rupee forward premiums rose on heightened chances of an outsized 50-basis-point rate cut by the U.S. Federal Reserve this week.The rupee ended at 83.8875 against the U.S. dollar, the same as its closing level on...
Government has a ‘safety tip’ for mobile users, ET BFSI
India is facing a growing wave of financial fraud, according to a recent data by Reserve Bank of India (RBI). Even with various safeguards in place, scammers continue to trick individuals into revealing personal information, leading to substantial financial losses....
PwC India report, ET BFSI
New Delhi, Ninety% of Indian financial institutions are focusing on artificial intelligence (AI) and GenAI (Generative Artificial Intelligence) as the primary technology enablers of innovation, according to a PwC India report. As per the PwC India report titled,...
MoS Finance likely to be convenor of GoM on GST compensation cess, ET BFSI
NEW DELHI: The Group of Ministers on reworking the nomenclature for GST compensation cess is likely to be convened by Union Minister of State for Finance Pankaj Chaudhary and include members from states, an official has said. The official further said the Terms of...
Healthcare, manufacturing sector to benefit most from Fed rate cuts: Motilal Oswal, ET BFSI
New Delhi: As the date for the U.S. Federal Reserve's anticipated rate cut draws near (September 18), investors remain cautiously optimistic about its potential effects on various sectors.According to a report by Motilal Oswal, the healthcare and manufacturing sectors...
Indian parents risk retirement savings for children’s overseas education: Report, ET BFSI
Here is how your earnings will be split across your budget according to the 30-30-30-10 rule.i) The first Rs 15,000 will be spent on housing costs such as rent or home loan EMI.ii) Next Rs 15,000 will be used for essential expenses such as groceries, paying multiple...
India projected to see 10 lakh jobs this festive season, gig jobs surge, ET BFSI
The upcoming festive season in India is likely to see the creation of up to 10 lakh jobs with a notable surge in gig and female workforce participation, a report showed on Thursday.The upcoming festive season in India is likely to see the creation of up to 10 lakh...
Finance Minister Defends Different Gst Rates For Different Products, ET BFSI
COIMBATORE: Union finance minister Nirmala Sitharaman defended different GST rates imposed on different products, stating that the rates were fixed by consensus in the GST council which has representatives from all states."How can a value-added product and a raw...
Retail inflation rises marginally to 3.65% in August, still second lowest in 5 years, ET BFSI
The Consumer Price Index for August 2024 at 3.65% showed a slight uptick from the record low of 3.54% in July, which remains the lowest inflation rate seen in the past five years, as per the data released by Ministry of Statistics and Programme Implementation on...
India handled inflation much better than US, Germany and France: SBI Report, ET BFSI
India has demonstrated a largely successful inflation targeting regime compared to advanced economies such as the USA, Germany, and France, according to a research report by the State Bank of India (SBI).The report credits government initiatives, the RBI, and banks...
India leads in crypto adoption for second straight year, report shows, ET BFSI
Sept 11 -India led the way in global adoption of cryptocurrencies for the second straight year as investors braved the country's tough regulatory stance and steep trading taxes, a report from blockchain analytics company Chainalysis showed on Wednesday.The report,...
Accel to invest $1 mln in early-stage AI and Bharat focussed startups, ET BFSI
The fund focuses on two areas: AI and Bharat. Bharat includes middle-income households in Tier 2, Tier 3, and rural India. For the AI cohort, Accel is looking for startups by visionary Indian-origin founders based anywhere in the world building companies that are...
BFSI GCCs are a $20-billion business, and growing at over 16%, ET BFSI
Global capability centres (GCCs) in the BFSI (banking, financial services & insurance) vertical in India may be much bigger and growing much faster than previously thought. They are also bringing in lots of jobs, but some of it may also be a replacement of jobs...
Telangana CM urges 16th Finance Commission to increase states’ share in Central taxes to 50%, ET BFSI
Hyderabad, Telangana Chief Minister A Revanth Reddy on Tuesday urged the 16th Finance Commission to increase the share of states in Central taxes from the existing 41 per cent to 50 per cent. Highlighting that Telangana's debt mounted to over Rs 6.85 lakh crore, as of...
From medical insurance premium to rate rationalisation, here’s what Sitharaman & Co decided, ET BFSI
The 54th meeting of the Goods and Services Tax (GST) Council, chaired by union Finance Minister Nirmala Sitharaman, concluded at the Sushma Swaraj Bhawan, New Delhi on Monday. Key decisions taken by the Finance Minister-led council included new GoM for GST rate...
GST Council defers announcement on insurance premiums, matter to be taken up in next meeting, ET BFSI
The much-anticipated announcement regarding a potential reduction in the Goods and Services Tax (GST) on health insurance premiums has been postponed, reported PTI, citing sources. In its 54th meeting on Monday, the GST Council decided to defer any decision on...
India’s $2 lakh crore export ambition wants top boss to rescue it from bank credit crunch, ET BFSI
India’s exporters are grappling with a significant credit crunch despite a surge in overall lending across the economy. Over the past two years, credit available to exporters has dropped by 5%, a troubling trend that contrasts sharply with the growth seen in other...
DIPAM Secy Tuhin Kanta Pandey appointed as Finance Secretary, BFSI News, ET BFSI
Amid vacancy, senior bureaucrat Tuhin Kanta Pandey was on Saturday designated as the new finance secretary, according to an official order. Pandey is currently the secretary of the Department of Investment and Public Asset Management (DIPAM)."The Appointments...
Exporters fret over dip in credit as costs soar, BFSI News, ET BFSI
NEW DELHI: Credit to exporters has fallen 5% over the last two years, despite the rapid growth in lending to almost all sectors of the economy. The priority sector lending for exports crashed 41%, from Rs 19,861 crore to Rs 11,721 crore, prompting the commerce...
FPIs invest Rs 11,000 crore in India in first week of September. Will US jobs data increase flows?, ET BFSI
Foreign Portfolio Investors (FPIs) invested a total of Rs 9,642 crores in equity through exchanges and an additional Rs 1,388 crores in the 'primary market and others' category in early September.The FPIs showed strong interest in the Indian market, reflecting its...
Financial services sector must grow 20x for India to reach $30 trillion GDP, says report, ET BFSI
India's ambition to achieve a $30 trillion GDP by 2047 will require a 20 times growth in the financial services sector, with banks playing a pivotal role, a report released by Boston Consulting Group (BCG) in association with FICCI and Indian Banks’ Association has...
Lack of data a regulatory hurdle, says NaBFID, BFSI News, ET BFSI
Infra lender National Bank for Financing Infrastructure and Development (NaBFID) has said that lack of data on the sector is making it difficult for them to convince the regulator about the need for higher provisioning for project loans in the sector."For retail,...
No friction between Centre and states over GST, says FM Sitharaman, ET BFSI
Union finance minister Nirmala Sitharaman Thursday said there was no "friction" in the ties between the Centre and states over Goods and Services Tax and emphasised that the federal structure in this economic reform should be respected."I completely deny that there's...
Reverse Flipping Startups Take Centre Stage in India’s Innovation Ecosystem, ET BFSI
NewsVoirBengaluru (Karnataka) [India], September 6: The Indian Venture & Alternate Capital Association (IVCA), the apex industry body for the alternate capital ecosystem in India, successfully hosted the Bharat Vapsi: Navigating Regulatory and Investment...
The role of L&D in modern BFSI hiring strategies, ET BFSI
The Banking, Financial Services, and Insurance (BFSI) sector has been a crucial driver of economic growth and financial inclusion in India. Through initiatives like the Pradhan Mantri Jan Dhan Yojana (PMJDY), the sector has successfully brought 230 million people...
India’s forex reserves jump $ 2.3 bn to hit new all-time high of $ 683.99 billion, ET BFSI
India's forex reserves jumped $2.3 billion to a fresh all-time high of $ 683.99 billion for the week ended August 30, the Reserve Bank of India (RBI) on Friday.Earlier, reserves expanded by $7.02 billion to an all-time high of $681.69 billion for the week ending on...
Large startup funding back in India as investors deploy dry powder, ET BFSI
After a prolonged slump in late-stage investments among Indian startups, large funding rounds valued at over $100 million are witnessing a resurgence in 2024. Investors are increasingly placing their bets on companies demonstrating growth with a clear path to...
No friction between Centre and states over GST, says FM Sitharaman, ET BFSI
Union finance minister Nirmala Sitharaman Thursday said there was no "friction" in the ties between the Centre and states over Goods and Services Tax and emphasised that the federal structure in this economic reform should be respected."I completely deny that there's...
Cybercriminals target SMEs as large companies beef up security, ET BFSI
Cybercriminals are turning their focus to small and medium enterprises (SMEs) as large organisations bolster their cybersecurity infrastructure, maintain data redundancy, invest in cyber insurance, and refuse to pay ransom.Hacker groups like Lockbit, BlackCat and...
RBI Governor Shaktikanta Das, ET BFSI
India's robust growth prospects and consumption demand are unhurt despite June's first sub-7% expansion rate in five quarters that central bank governor Shaktikanta Das Thursday said perhaps reflects the customary - and temporary - drop in government spending through...
Public Accounts Committee to look into allegations against Sebi Chief Madhabi Puri Buch, ET BFSI
The parliamentary Public Accounts Committee (PAC) is set to look into allegations against Securities and Exchange Board of India (Sebi) chief Madhabi Puri Buch and may summon her later this month, said people with knowledge of the matter.The matter was added to the...
MeitY launches 2nd cohort of startup accelerators to support product innovation, ET BFSI
In the first cohort of SAMRIDH, 22 accelerators from 12 states were selected through open calls for proposals. The Ministry of Electronics and Information Technology (MeitY) on Wednesday launched the second cohort of SAMRIDH. Secretary, MeitY S. Krishnan, launched the...
UKIIFB and NITI Aayog to strengthen financial partnership with new infrastructure financing bridge, ET BFSI
New Delhi [India], September 5 (ANI): The United Kingdom-India Infrastructure Financing Bridge (UKIIFB) has been agreed upon between the City of London Corporation and the National Institution for Transforming India (NITI Aayog), it can be announced today, marking the...
RBI Guv to banks, ET BFSI
Mumbai, Reserve Bank Governor Shaktikanta Das on Thursday said the financial sector can help in bridging the gender gap by providing more employment opportunities to women and creating tailored schemes for businesses promoted by them. Highlighting the importance of...
World Bank’s advice to India to reconsider RCEP stance flawed: GTRI, ET BFSI
Think tank Global Trade Research Initiative (GTRI) Wednesday said that the World Bank’s suggestion for India to reconsider joining Regional Comprehensive Economic Partnership (RCEP) is based on flawed assumptions and outdated projections.For developing countries like...
Finmin relaxes norms for expenditure exceeding Rs 500 cr to give boost capex, ET BFSI
The finance ministry has relaxed norms for expenditure exceeding Rs 500 crore to accelerate capex (capital expenditure) that is pegged at Rs 11.11 lakh crore for the current fiscal. This will give a push to government spending which suffered a slowdown for a couple of...
India Inc extends gender diversity push to temporary hiring for festive season, ET BFSI
Representative ImageIndia Inc’s big gender diversity push is increasingly getting extended to temporary hiring during peak periods such as the festive season.Ecommerce, logistics, retail, hospitality, manufacturing, consumer durables, banking, financial services and...
India’s Services PMI rises to 60.9 in August; Finance & Insurance lead performance, ET BFSI
Defying the trend seen in the manufacturing sector, India's Services PMI saw an uptick, reaching 60.9 in August, a better performance following July's 60.3. This increase indicates the most significant expansion since March, substantially surpassing the long-term...
World Bank urges India to boost labour-intensive exports for jobs, ET BFSI
By Manoj KumarNEW DELHI -India should focus on labour-intensive exports to boost employment, The World Bank said on Tuesday, noting that the country's manufacturing industry has not fully seized opportunities from China's exit from these sectors."India should also try...
PFRDA Chairperson at CII Finance 3.0 summit, ET BFSI
New Delhi [India], September 3 (ANI): Deepak Mohanty, Chairperson, Pension Fund Regulatory and Development Authority (PFRDA) on Tuesday said that the transition under way from a nation of savers to investors marks a paradigm shift in our economic and financial...
Companies, banks struggle to implement Trai’s URL whitelisting norms, ET BFSI
MUMBAI: Large enterprises and banks are finding it challenging to register unique, dynamic weblinks and shortened URLs-under the telecom regulator's mandate-which are generated in real-time and cannot be pre-registered on the SMS filtering platform deployed by telecom...
India needs to avoid financialization as it marches towards Viksit Bharat goal, says Nageswaran, ET BFSI
Mumbai, India has one of the brightest global economic growth prospects, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Monday as he cautioned against 'financialization', which refers to the dominance of the role of financial markets in public policy, as...
World Bank upgrades India’s FY25 GDP, projects at 7%, BFSI News, ET BFSI
The World Bank announced on Tuesday an upgraded GDP forecast for India, raising it to 7% from an earlier projection of 6.6%, depicting an increase of 40 basis points.This follows the International Monetary Fund's (IMF) recent revision in July, where India’s GDP growth...
Inflation eases in US and Europe, ET BFSI
(Bloomberg) --Inflation cooled in the US and Europe, setting the stage for policymakers in both regions to lower interest rates in September.On a three-month annualized basis, the Federal Reserve’s preferred measure of underlying US inflation advanced 1.7% in July,...
V Anantha Nageswaran, CEA, ET BFSI
New Delhi [India] September 2(ANI): Policy autonomy and managing global capital outflows effectively will safeguard India's growth momentum says V Anantha Nageswaran, Chief Economic Advisor to the Government of India.Addressing the inaugural session on 'Is India's...
PM Modi to visit Singapore as China deepens ties with ASEAN, BFSI News, ET BFSI
New Delhi: Prime Minister Narendra Modi will visit Singapore on September 4-5 at the invitation of Prime Minister Lawrence Wong, with a goal to play a bigger role in the region where China has major influence, stepping up engagement with Southeast Asia after hosting...
Congress’s fresh charge at Sebi chief, ET BFSI
NEW DELHI: The Congress party has accused Sebi chairperson Madhabi Puri Buch of engaging in office for profit, and urged Prime Minister Narendra Modi to provide clarity on her appointment as the head of the cabinet's appointments committee.Addressing a press...
India’s Manufacturing PMI dips to 57.5 in August, output and sales lowest since Jan, ET BFSI
New export orders grew at the weakest pace since the beginning of 2024The seasonally adjusted PMI for August stood at 57.5, down from July's 58.1, the data released by S&P Global showed on Monday.In August 2023, the seasonally adjusted HSBC Index for manufacturing...
ET World Leaders Forum | Bullish on anything that’s internet first within India: Balaji Srinivasan, ET BFSI
Tech investor and author Balaji Srinivasan, who was a venture capitalist at Andreessen Horowitz, said he’s bullish on anything that is internet first within India. “I am moderately optimistic in India and extremely optimistic in Indians,” he said. “I think the Indian...
how small ticket loans can get affected, ET BFSI
The current times present us several challenges where the term ‘poly-crisis’ has come to represent the intertwined challenges from climate, geopolitics, etc. Amongst all these issues, the issue of climate change is all pervasive and is most likely to impact every...
India’s GDP growth rate for Q1 FY25 at 6.7% surpasses decadal average: SBI, ET BFSI
NEW DELHI: The State Bank of India (SBI) recently reported that India's GDP growth moderation for the first quarter (Q1) of the financial year 2024-25 (FY25) surpasses the average decadal growth of 6.4 per cent for Q1."Though the growth for Q1 has reduced to 6.7 per...
Indian economy grew 6.7% in April-June quarter, lower than RBI’s 7.1% forecast, ET BFSI
New Delhi [India], August 30 (ANI): The Indian economy grew by 6.7 per cent in real terms in the April-June quarter of the current financial year 2024-25, Ministry of Statistics and Programme Implementation's official data showed on Friday.Last year same quarter,...
RBI cautions public, lists ways fraudsters scam victim using the regulator’s name, ET BFSI
The Reserve Bank of India has said that unscrupulous elements are using various methods to defraud members of the public by using the name of RBI in some capacity and listed a various modus operandi employed by such fraudstersEnticing tacticsThe RBI said fraudsters...
RBI permits foreign investors in IFSC to invest in sovereign green bonds, ET BFSI
Mumbai, The Reserve Bank on Thursday introduced a scheme to permit foreign investors in the International Financial Services Centre (IFSC) to invest in sovereign green bonds to facilitate wider non-resident participation in such instruments. The government issued...
Moody’s boosts GDP forecast to 7.2% for 2024, ET BFSI
Moody's has raised its real GDP growth projections for India on Thursday expecting a robust 7.2% growth in 2024 (up from 6.8%) and 6.6% in 2025 (up from 6.4%). This revision reflects strong, broad-based growth, driven by resilient private consumption and improved...
Moody’s boosts GDP forecast to 7.2% for 2024, ET BFSI
Moody's has raised its real GDP growth projections for India on Thursday expecting a robust 7.2% growth in 2024 (up from 6.8%) and 6.6% in 2025 (up from 6.4%). This revision reflects strong, broad-based growth, driven by resilient private consumption and improved...
1 bonus shares; big focus on AI, ET BFSI
RIL AGM 2024 Live: Mukesh Ambani, the Reliance Industries Chairman, began his address to shareholders at the RIL AGM by congratulating PM Narendra Modi for securing a record third term. Ambani said that a notice has been sent to the stock exchange that the Board of...
Indian economy remains resilient amid global uncertainties: NCAER, ET BFSI
Amid global geo-political uncertainties, the Indian economy has remained resilient but the outlook seems softer due to moderation in a couple of high-frequency indicators, according to the Monthly Economic Review for August. The review was released by the National...
India poised to become 3rd largest economy in the world: Ashwini Vaishnaw, ET BFSI
New Delhi, India would soon become the third largest economy in the world, Union Information and Broadcasting, Railways, and Electronics and Information Technology Minister Ashwini Vaishnaw said on Tuesday.The minister reeled out the growth rates compiled in the IMF's...
How gold affects foreign exchange reserves in India, ET BFSI
- Suhani PrakashWhat are Foreign Exchange Reserves? Foreign Exchange Reserves are holdings of foreign currencies managed by The Reserve Bank of India (RBI) that are used for international transactions, including trade and settlement of debts, and supporting the Indian...
Finance Minister meets Singapore President & PM to accelerate bilateral pact, ET BFSI
Finance minister Nirmala Sitharaman Monday met Singapore President Tharman Shanmugaratnam and Prime Minister Lawrence Wong to take forward bilateral strategic partnership.She was joined by external affairs minister S Jaishankar, commerce minister Piyush Goyal and...
PM Modi, FM Sitharaman lauds financial inclusion scheme, ET BFSI
The Pradhan Mantri Jan Dhan Yojana (PMJDY) on August 28, 2024, completed ten years of its implementation. The scheme launched in 2014, has proven to be the foundation stone in bringing over 80 per cent of Indian women under the ambit of financial inclusion, reported...
Maharashtra AAR rules no GST on RBI’s penalties, late fees, and fines, ET BFSI
In a significant ruling, the Maharashtra Authority for Advance Rulings (AAR) has determined that penalties, late fees, penal interest, and fines imposed by the Reserve Bank of India (RBI) are not subject to Goods and Services Tax (GST). The decision, outlined in Order...
Govt capex boosts GDP growth by 3.4 pc from 1.6 pc over last 10 years: Moody’s, ET BFSI
New Delhi [India], August 27 (ANI): Over the last ten years, the government has escalated its capital spending on infrastructure from Rs 1.97 trillion (1.6 per cent of GDP) in FY2014-15 to Rs 11.1 trillion (3.4 per cent of GDP) in FY2024-25, according to Moody's.This...
Insolvency resolution time increases as 21,000 cases pile up before 15 NCLTs, ET BFSI
The average time taken to conclude the corporate insolvency resolution process (CIRP) has increased to 680 days as of March 2024, up from 611 days a year ago, according to official data.Currently, nearly 21,000 cases are pending before the 15 NCLT benches, with...
Ministers panel on GST reviews rates of several categories, ET BFSI
Representative ImageThe group of ministers (GoM) on GST rate rationalisation may have deferred a plan to rework slabs but it is undertaking a thorough review of rates across several categories, including items in the 12% and 18% brackets and will take a call on...
Review going on, a rate reset may come by September end, ET BFSI
The keenly-watched plan to rework the GST rates may have been pushed a bit down the road, but a lot has been going on in the background, ToI reported on August 27. The Group of Ministers (GoM) tasked with resetting rates is conducting a thorough review of various...
EAM Jaishankar hails ‘productive’ India-Singapore Ministerial Roundtable, ET BFSI
Singapore, India and Singapore explored enhanced cooperation in digital, skill development, sustainability, healthcare, connectivity and advanced manufacturing areas during the 2nd India-Singapore Ministerial Roundtable (ISMR) held in Singapore on Monday. External...
AI integration in finance sector unlocks new opportunities: Shaktikanta Das, ET BFSI
AI integration in finance sector unlocks new opportunities: Shaktikanta DasIntegration of artificial intelligence (AI) into financial services brings significant opportunities for all stakeholders, the Reserve Bank of India (RBI) Governor Shaktikanta Das on...
NABARD issues admit cards for Grade A Recruitment Exam 2024
NABARD has released admit card for Prelims Exam which can be downloaded from its official website.
Ministers panel on GST reviews rates of several categories, ET BFSI
The group of ministers (GoM) on GST rate rationalisation may have deferred a plan to rework slabs but it is undertaking a thorough review of rates across several categories, including items in the 12% and 18% brackets and will take a call on several products and...
Rupee slips but state-run banks’ dollar sales cap losses, BFSI News, ET BFSI
By Jaspreet KalraMUMBAI - The Indian rupee weakened slightly on Tuesday, tracking a decline in its Asian peers, but its losses were limited by mild dollar sales by state-run banks, traders said.The rupee was at 83.9325 as of 10:10 a.m. IST, against a close of 83.90 in...
SBI Research anticipates Q1 GDP growth at 7.1%, in line with RBI forecast, ET BFSI
The Indian economy is expected to grow at 7.0-7.1 per cent in the April-June period, the first quarter of 2024-25, according to a report by SBI Research, released just days before the government is set to publish the official data.However, this growth forecast comes...
Connecting India’s Businesses, Entrepreneurs and Innovators”, ET BFSI
Favfairs is hosting the Business Expo and Summit 2024 (Mumbai Edition) alongside the Excellency Awards at World Trade Center Mumbai on 26th & 27th October,2024. The Exhibition will be showcasing India's burgeoning business ecosystem and fostering a culture of...
Anil Ambani reviewing Sebi order, to take appropriate steps as legally advised, ET BFSI
NEW DELHI: Anil Ambani is reviewing a Sebi order that imposed a monetary penalty and banned him from participating in the securities market for five years in connection with an alleged fund diversion case and will take appropriate next steps based on legal advice,...
Piyush Goyal meets Singaporean company DBS Group CEO, discusses investments, ET BFSI
New Delhi: Commerce Minister Piyush Goyal met CEO and Director of Singapore-based DBS Group Piyush Gupta. In a post on X on Sunday, after the meeting, Goyal said that they discussed the group's plans to "scale up investments in India," including increasing engagement...
Why Sebi banned Anil Ambani from the securities market for 5 years?, ET BFSI
The Securities and Exchange Board of India (Sebi) has barred Anil Ambani, the former chairman of Reliance Home Finance (RHFL), and 24 other entities from the securities market for five years. This decision follows allegations of fund diversion from RHFL, where Ambani...
No ‘hard approach’ with taxpayers in initial stage, Finance Minister advises officials, ET BFSI
Finance minister Nirmala Sitharaman Friday asked tax officials not to opt for a "hard approach" at an early stage with taxpayers and instead communicate and explain tax liabilities to them.She told the officials to prioritise solving problems at the stage where they...
India’s Forex reserves increase by $4.54 billion to $674.66 billion as of August 16, ET BFSI
India's Forex reserves increased by $4.54 billion to $674.66 billion as of August 16, as per data released by the Reserve Bank of India on Friday. Preciously, the reserves had dipped by $4.8 billion to $670.12 billion for the week ending August 9. According to the...
India should retain headline inflation as target, external rate panel members say, ET BFSI
By Swati BhatMUMBAI - Headline inflation impacts Indians directly and should be retained as the target for monetary policy rather than switching to core inflation, external members of the central bank's rate panel told Reuters.A suggestion was made in the government's...
Goldman Sachs cuts India’s 2024 and 2025 GDP growth forecasts, ET BFSI
Goldman Sachs Group Inc. has lowered India’s growth forecast by 20 basis points each for this year and the next, citing a contraction in central government expenditure. The bank now expects the nation’s economy to expand at 6.7% in calendar 2024, and 6.4% in 2025. The...
FM Sitharaman opens new GST Bhawan in Udaipur, to serve 13 districts, ET BFSI
Jaipur, Union Finance Minister Nirmala Sitharaman on Friday inaugurated the new GST Bhavan in Udaipur located in the Hiran Magri area of the city. The Finance Minister performed an Aarti amid Vedic chanting before unveiling the plaque to throw open the GST Bhawan."The...
Favourable US inflation and likely rate cut in September to impact policy rates in India: S&P, ET BFSI
The easing inflation and weakening job market trends in the US, as revealed in the recent figures will push the Federal Reserve to cut interest rates which will lead to lower rates in developing countries like India, indicates S&P Global on Friday.The year-on-year...
Go First bankers hire Burford Capital for litigation against Pratt & Whitney, ET BFSI
New Delhi: Lenders to bankrupt airline Go First have appointed Burford Capital, a US-based litigation finance firm, to bankroll the arbitration case against engine maker Pratt & Whitney (P&W).People aware of the development said the creditors committee has...
Finance Ministry, BFSI News, ET BFSI
India's economic momentum remains "intact" on the back of expansion in manufacturing and services sectors, the finance ministry said in its monthly economic report, while exuding hope of food inflation cooling down with monsoons replenishing water levels in...
Rupee’s record lows mask currency’s trade-weighted overvaluation, ET BFSI
The rupee is hovering near 84 to a dollar, and is down 0.9% so far this year, but on a REER basis, it’s up 3.6% in seven months to July.A gauge showing the Indian rupee’s value against its key trading partners rose to the highest in more than six years in July, even...
SEBI imposes 5-year ban on Anil Ambani, 24 others from participating in securities market, ET BFSI
Coming as a big move, the Securities and Exchange Board of India (SEBI) has imposed a five-year ban on industrialist Anil Ambani and 24 other parties from participating in the securities market. This includes former senior executives of Reliance Home Finance as well....
Piyush Goyal accuses e-com players of predatory pricing, FDI violation, ET BFSI
NEW DELHI: Commerce and industry minister Piyush Goyal on Wednesday accused large e-commerce players, such as Amazon, of indulging in predatory pricing to grab a bigger share and violating FDI rules, while calling for a review of policies to ensure that small shops...
FM Sitharaman urges RRBs to ensure credit to MSMEs, BFSI News, ET BFSI
Udaipur, The review meeting focused on business performance, upgrading digital technology services, fostering business growth in MSME clusters, and deepening of financial inclusion in rural areas. The finance minister urged RRBs to generate awareness of Government...
Foreign Portfolio Investors turn net buyers, with debt segment still attracting FPI inflows, ET BFSI
New Delhi [India], August 22 (ANI): Following outflows in the first two months of Financial Year (FY) 25, Foreign Portfolio Investors (FPIs) became net buyers in the Indian financial markets, with net inflows of USD 10.8 billion in June and July 2024, according to the...
Finance Ministry’s monthly economic review sees food inflation falling in coming months on rain bounty, ET BFSI
Food inflation in India is expected to fall in the coming months as plentiful monsoon rains have replenished water levels in reservoirs, FinMin's Department of Economic Affairs said in its monthly economic review on August 22.As per latest data, retail inflation in...
India economic momentum remains intact, set to achieve 6.5-7 pc growth: Finmin Report, ET BFSI
New Delhi, India's economic momentum remains intact despite a somewhat erratic monsoon, and real GDP growth of 6.5-7 per cent projected in the Economic Survey seems appropriate, a finance ministry report said on Thursday. According to the Monthly Economic Review for...
India retained its growth momentum in Q1 of FY25, says RBI’s monthly economic review, ET BFSI
The Indian economy retained its growth momentum in the opening quarter (April-July) of the current financial year, the RBI said in its monthly economic review released on August 22.As highlighted by the report, India's key economic indicators present a positive...
IMF ED KV Subramanian, ET BFSI
IMF executive director Krishnamurthy V. Subramanian speaks at a media event in New Delhi on TuesdayIndia’s economy is projected to grow to $55 trillion by 2047 if the country is able to register an average real growth rate of 8 per cent in the coming years which is an...
Sebi board likely to have new faces as Anshuman, Govil exit, BFSI News, ET BFSI
The board of the capital markets regulator, the Securities and Exchange Board of India (Sebi) will have a new look as two members exit after the end of their respective terms to make way for two incoming candidates. The Sebi chief, while also a full-time member of the...
Inter-ministerial group to draw up MSME scheme, BFSI News, ET BFSI
NEW DELHI: The government has set up an inter-ministerial group to firm up the contours of the credit guarantee scheme for micro, small and medium enterprises (MSMEs) announced in the budget, officials said. The MSME ministry will move the scheme for the expenditure...
IMF executive director, ET BFSI
India's private sector needs to play its part to ensure a sustainable 8% real GDP growth, which would be key to achieve a $55 trillion economy by 2047, International Monetary Fund executive director Krishnamurthy Subramanian said.The economist has projected the Indian...
How macroeconomic indicators performed in July 2024?, ET BFSI
The full Union Budget 2024 was released on 22nd July, and the day before India’s Economic Survey forecasted the GDP growth at 6.5-7 per cent. Retail Inflation in India decreased to 5.4 per cent in FY24 to 6.7 per cent in FY23, the current account deficit also improved...
GST sleuths tracking merchants skipping tax via digital payments, ET BFSI
The rapid growth of digital payments has also increased the scrutiny of online merchants due to a spike in cases of tax evasion, people aware of the development told ET.The Directorate General of Goods and Service Tax Intelligence (DGGI) is working closely with...
Japan joins India in calling out cross-border terror & terror finance, ET BFSI
India and Japan on Tuesday explored the possibility of coordinating respective security strategies and development assistance where mutual interests converge for “free, open and rules-based Indo-Pacific” and emphasised that both are resolute in their opposition to...
Indians may need to get over a tax headache to secure their health, ET BFSI
New Delhi: When Indian parliamentarians from opposition parties demanded Finance Minister Nirmala Sitharaman to consider waiving off the Goods and Services Tax imposed on life and health insurance policies, she raised some factors associated with the taxes."I want to...
No plan to probe Madhabi Puri Buch over Hindenburg row, says FinMin official, ET BFSI
New Delhi: The finance ministry has no plan as of now to set up any panel to look into US-based short-seller Hindenburg Research's allegations against Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch, an official said.Earlier this month,...
Corporate capex to increase led by infra financing, says RBI study, ET BFSI
Rising domestic demand and capacity utilisation, improved profitability of corporates, sustained credit demand, business optimism and government’s thrust on infrastructure development, is likely to increase the pipeline for project finance. An article in the Reserve...
Revival in overseas fundraising by Indian companies reflects shifting domestic credit market dynamics: RBI Bulletin, ET BFSI
Indian companies are increasingly turning to overseas markets for fundraising, driven by heightened international investor interest, improving liquidity conditions, and reduced hedging costs, the Reseve Bank of India (RBI) said in its monthly bulletin on Monday. This...
India a bright spot, to remain fastest-growing major economy this year: Report, ET BFSI
Mumbai, Despite global macro-economic conditions, India continues to remain a bright spot and is expected to be the fastest-growing major economy this year, a report showed on Tuesday.The country has become the fifth-largest economy in the world, and is set to be...
India records 26 pc jump in FDI flows in first quarter, BFSI News, ET BFSI
Mumbai, The gross foreign direct investment (FDI) flowing into the Indian economy has surged by 26.4 per cent to $22.5 billion during the April-June quarter of the current financial year compared to the same quarter of the previous year, according to the RBI's latest...
RRBs must devise suitable products aligning with MSME clusters: FM, ET BFSI
New Delhi, Finance Minister Nirmala Sitharaman on Monday asked Regional Rural Banks (RRBs) to devise suitable products aligning with MSME clusters to increase banking penetration. During a review meeting with chairpersons of RRBs and CEOs of their sponsored bank, the...
Rupee worst Asia performer over August despite mild rise, BFSI News, ET BFSI
By Jaspreet KalraMUMBAI - The Indian rupee rose slightly on Tuesday but continued to underperform its Asian peers which have rallied to multi-month highs in anticipation of a U.S. rate cut next month. The rupee is the worst performing Asian currency so far this month,...
Investors can pick assets purely on merit rather than to optimise tax outgo, ET BFSI
The overhaul of the capital gains tax framework in the recent Budget has upset many. Equity investors are fretting that they must now shell out more tax on their gains. Real estate owners are livid that indexation benefits will be taken away. Taxpayers still holding...
India should remove food from its inflation target, BFSI News, ET BFSI
Representative ImageOne of India’s problems is that, even as it grows richer, it struggles to change policies to match. Economic frameworks designed for when it was a much poorer country constrain and limit growth. This is particularly true of food pricing and...
Finance Minister meets heads of PSBs, exhorts banks to improve deposit growth, ET BFSI
New Delhi, According to sources, the finance minister reviewed the financial performance of banks and progress made in the implementation of various flagship schemes of the government, including PM Awas Yojana, PM Surya Ghar and PM Vishwakarma Yojana. Sitharman also...
Indian govt needs to trim citizens’ waist size for the sake of economy, ET BFSI
New Delhi: India’s achievement of its long-term goal to become a developed economy also hinges on its population losing weight, the Economic Survey 2023-24 had indicated. As India is posed to capitalise on its demographic dividend—a large youth population—it is...
All that glitters is…in great demand, BFSI News, ET BFSI
Central banks, led by the People's Bank of China, have been buying gold at unprecedented rates following the Russia-Ukraine war in order to de-dollarise their foreign exchange reserves. The purchases were spurred by Western sanctions on Russia that stranded half its...
ED investigates Indian links of foreign gambling apps, suspects over Rs 1 lakh cr bets, ET BFSI
The Mahadev scam, which exposed the dark underbelly of India’s illegal online betting apps, did not end with the closure of the shady application, few arrests, and tracing a money trail from Chhattisgarh to Dubai. More than two dozen offshore gaming applications are...
At 5.9%, Bihar records highest inflation in July, BFSI News, ET BFSI
NEW DELHI: Bihar recorded the highest inflation rate at 5.9% among states and Union territories in July, followed by Assam at 5.1%, while Jharkhand had the lowest rate at 1.7% during the month, latest retail inflation data showed.Odisha, which had been witnessing...
Who will receive tax refunds quicker, filers of ITR-1, ITR-2 or ITR-3?, ET BFSI
Many individuals who have submitted their income tax returns (ITR) for the fiscal year 2023-24 (assessment year 2024-25) and are entitled to refunds have not yet received the funds in their bank accounts. If you have submitted ITR-2 or ITR-3 for the fiscal year...
Finance Ministry should identify high risk taxpayers in GST composition scheme: CAG, ET BFSI
The Comptroller and Auditor General (CAG) has asked the Finance Ministry to identify high risk taxpayers in the GST composition scheme on a periodical basis and verify from other sources, including third parties, their declared value of sales to check tax evasion....
IMF’s Gita Gopinath, ET BFSI
India needs to create an additional 60 to 148 million jobs by 2030 given its population growth while revamping its education to improve skills of its workforce, according to International Monetary Fund first deputy managing director Gita Gopinath.The country should...
Investors can pick assets purely on merit rather than to optimise tax outgo, ET BFSI
The overhaul of the capital gains tax framework in the recent Budget has upset many. Equity investors are fretting that they must now shell out more tax on their gains. Real estate owners are livid that indexation benefits will be taken away. Taxpayers still holding...
Are banks open or closed on Monday, August 19?, ET BFSI
Banks in some states will be closed on Monday, August 19, for Raksha Bandhan, Jhulana Purnima, and Bir Bikram Kishore Manikya Bahadur's birthday. Throughout August, both public and private sector banks in India will be closed for up to 13 days.August 2024 bank...
Finance Minister Nirmala Sitharaman, ET BFSI
India is open to exploring more ways to increase its collaboration with the International Monetary Fund (IMF), Finance Minister Nirmala Sitharaman said during a meeting with IMF's First Deputy Managing Director Gita Gopinath on Saturday. During the meeting, Gopinath...
Sebi proposes expansion of sustainable fin framework in securities market, ET BFSI
New Delhi, Markets regulator Sebi has proposed expansion of the sustainable finance framework in the securities market by introducing a new category of financial instruments. This category will include Social Bonds, Sustainable Bonds, and Sustainability-linked Bonds...
FPIs remain net sellers at Rs 21,201 crore in first fortnight of August. Here’s why, ET BFSI
Foreign portfolio investors (FPIs) were net sellers of Indian equities in the first fortnight in August, offloading shares worth Rs 21,201 crore. The total investments by them now stand at Rs 14,365 crore, so far this year.In July, FPIs bought domestic shares worth Rs...
Apple opens NFC technology to developers for in-app contactless transactions, ET BFSI
Apple is starting with iOS 18.1, developers will gain access to its near-field communication (NFC) technology, allowing them to integrate contactless transactions directly into their apps. This move marks a significant shift from the company’s previous policy of...
RBI’s forex reserves fall $4.8 bn to $670 bn in week ended August 9, ET BFSI
The Reserve Bank of India’s foreign exchange reserves declined by $4.8 billion to $670.12 billion in the week ended August 9, with the central bank likely selling dollars in order to prevent excessive volatility in the exchange rate amid global market volatility.The...
Recovery via IBC up in June quarter at 31.12%, BFSI News, ET BFSI
Recovery from defaulters under the insolvency law rose to 31.12% of the creditors' claims in the June quarter from 25% in the previous three months, showed the data released by the bankruptcy regulator.However, it's marginally lower than the longer-term recovery rate...
Finance ministry permits 15 securities firms to undertake Aadhaar-based verification of clients, ET BFSI
The finance ministry has permitted 15 securities firms, including SBICAP Securities, IIFL Securities, and Angel One, to conduct Aadhaar authentication of their customers. The Revenue Department under the finance ministry has issued a notification under the Prevention...
Indian firms and the impact of Japan’s positive interest rates policy shift, ET BFSI
The move to positive rates, even if minimal, is likely to trigger a gradual repatriation of Japanese capital.In a significant shift that reverberated across global financial markets, the Bank of Japan (BOJ) recently ended its eight-year experiment with negative...
Bangladesh turmoil may slow financial reform, weaken banks, S&P says, ET BFSI
NEW DELHI/DHAKA -Political turmoil in Bangladesh is likely to slow planned financial reforms and has already added to weakness in the banking sector, S&P Global Ratings said on Wednesday.Prime Minister Sheikh Hasina quit and fled to India last week after...
India set to be among top 3 world economies soon: Droupadi Murmu, ET BFSI
New Delhi, President Droupadi Murmu on Wednesday said that India is among the fastest-growing major economies, adding it was a matter of pride for everyone that the country has become the fifth-largest economy in the world, and is set to be among the top 3 global...
Bangladesh turmoil may slow financial reform, weaken banks, S&P says, ET BFSI
NEW DELHI/DHAKA -Political turmoil in Bangladesh is likely to slow planned financial reforms and has already added to weakness in the banking sector, S&P Global Ratings said on Wednesday.Prime Minister Sheikh Hasina quit and fled to India last week after...
PM Modi unfurls national flag at Red Fort on 78th Independence Day, pays tribute to ‘Azaadi ke deewane’: Key takeaways, ET BFSI
NEW DELHI: Prime Minister Narendra Modi on Thursday addressed the nation from the Red Fort for the 11th consecutive time as India celebrated 77 years of Independence, making him the third PM after Jawaharlal Nehru and Indira Gandhi to do so.The theme for this year's...
PM Modi lays road to Viksit Bharat, announces 75k new medical seats, wishes to implement UCC, ET BFSI
Prime Minister Narendra Modi on Thursday delivered his 11th speech from the Red Fort on Independence Day. He covered a wide range of topics the in address that lasted for more than 90 minutes. Keeping up with the theme of Viksit Bharat 2047, the PM mentioned the road...
India’s Trade Deficit widens to USD 23.5 Bn after narrowing in June, ET BFSI
Exports and imports in services stood at USD 28.43 billion and USD 14.55 billion respectively this month.India's trade deficit expanded in July 2024 at USD 23.5 Billion, driven by a combination of declining merchandise exports and rising imports, as released by the...
Insolvency Board mandates unique identification number for valuation reports, ET BFSI
The Insolvency and Bankruptcy Board of India will provide a unique identification number for each valuation report prepared under the insolvency law to ensure authenticity, the board said in a circular on Monday. IBBI is the designated authority for registration,...
Mauritius banking regulator denies ‘tax haven’ allegation, ET BFSI
NEW DELHI: The Financial Services Commission (FSC) of Mauritius on Tuesday issued a statement in response to the allegations made in the Hindenburg Research report regarding the use of Mauritian shell companies and the country being labeled as a "tax haven." The FSC,...
India’s WPI moderates to 2.04% in July from 3.36% in June, ET BFSI
India’s Wholesale Inflation for the month of July is recorded at 2.04%, as announced by the Ministry of Commerce and Industry on Wednesday. Previous month, June’s Wholesale Inflation stood at 3.36%, largely driven by the costlier vegetables, the month on month basis...
Taxpayers getting faster refunds this year? FM says ITR processing time reduced to 10 days from 93 days, ET BFSI
Last week in Parliament, the finance minister Nirmala Sitharaman stated that the average time taken to process income tax returns (ITR) has decreased from 93 days in FY 2013-14 to 10 days in FY 2023-24. While this is a commendable achievement for the government, does...
BFSI ranks second highest in preference to lease green-certified buildings, ET BFSI
Representational imageA recent trend has been highlighted where the the occupiers’ preference to lease green-certified buildings has been seeing an uptick in India.According to a report by real estate consultancy Colliers, during the April-June quarter this year, 12.9...
Will Madhabi Puri Buch get a clean chit like former SEBI chairman C B Bhave?, ET BFSI
Hindenburg Research has accused Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI), of holding stakes in offshore entities allegedly linked to the Adani Group. The research firm has raised concerns about potential conflicts of interest...
Pathways for achieving 10-fold growth in next 25 years, ET BFSI
">"While this is ambitious, China did something similar during 1980 – 2000, and there is no reason why India cannot achieve this large growth if it gets its mind into doing so. Ambitious targets get us somewhere, even if not all the way there. Unambitious ones get...
India and Russia eye dynamic rupee-rouble rate, vostro balance to bypass dollar trade barriers, ET BFSI
India and Russia are exploring the idea of a dynamic reference rate to start a rupee-rouble market, along with allowing greater deployment of the rupee balance that has accumulated in course of trade between the two countries since outbreak of the Ukraine war.A...
CPI inflation down, but road ahead could be bumpy: SBI Report, ET BFSI
New Delhi [India], August 13 (ANI): India's Consumer Price Index (CPI) inflation dropped to 3.54 per cent in July 2024, its lowest in nearly five years, largely driven by a decline in vegetable prices. However, despite this positive development, the State Bank of...
Retail Inflation for July at 3.54%, lowest in nearly 5 years, BFSI News, ET BFSI
India’s Consumer Price Index recorded a 59 month low at 3.54%, as released by the Ministry of Statistics and Programme Implementation on Monday.Previous month in June, India’s retail inflation stood at 5.08%, alongwith the food inflation at another high at 9.36%. The...
From Citi to 3i to Hindenburg’s crosshairs, the many lives of banker turned investor Anil Ahuja, ET BFSI
Mumbai: As a “small, hidden, obscure,” Mauritius investment vehicle, IPE Plus Fund, finds itself in the crosshairs of Hindenburg Research, its New Delhi-born, Singapore-based, founder and chief investment officer (CIO) Anil Ahuja finds himself in the news yet...
How yen carry trade unwinding may impact Indian markets, BFSI News, ET BFSI
The potential unwinding of the yen carry trade poses a significant threat to Indian markets, especially as yen-denominated investments in the country have surged 251% since January 2023, reaching $21 billion. This rapid increase in yen-driven inflows highlights the...
Hindenburg Research on SEBI Chairman is not credible but self-serving speculation, says Supreme Court Advocate, ET BFSI
While corporate governance issues in India must certainly be scrutinized, the authenticity and motives behind such opaque reports by random foreign entities such as Hindenburg Research are questionable. Despite dressing up their claims in a gloss of research, the...
Sensationalism or cause for concern? What experts and Opposition say on Hindenburg vs SEBI issue, ET BFSI
Hindenburg Research's recent allegations against SEBI Chairperson Madhabi Puri Buch have sparked significant debate. While many experts dismiss the claims as baseless and sensationalist, with notable figures like former Infosys CFO Mohandas Pai and Deepak Shenoy...
Markets unfazed by Hindenburg report, trade in green, BFSI News, ET BFSI
Mumbai (Maharashtra) [India], August 12 (ANI): The stock markets showed resilience on Monday during mid-trading, shrugging off concerns raised by the recent Hindenburg report.Despite opening with a slight dip, both the BSE Sensex and Nifty 50 indices managed to...
PayNearby’s Jayatri Dasgupta, ET BFSI
Economies grow when more women join the workforce, says a UN report. So if India wants to grow faster, the women in the country — who make up about 50% of the population — must get employment opportunities, says Jayatri Dasgupta, Program Director, Digital Naari,...
Surge in number of new firms being set up in 2024-25, BFSI News, ET BFSI
New Delhi, The number of new company and LLP (limited liability partnership) incorporations increased by nearly 5 per cent so far during the current financial year to touch the 91,578 mark compared to 87,379 in the same four-month period last year, according to...
SEBI chief replies over 2015 investment, two companies allegation, ET BFSI
Hitting bank on the report by US-based research firm, Hindenburg, SEBI chief Madhabi Puri Buch and her husband Dhaval Buch released a joint statement countering the allegations.Over the investment made in 2015, Buchs said, “The investment in the fund referred to in...
Over 1.4 lakh startups recognized in India; 67,499 have women directors, ET BFSI
India's startup ecosystem continues to thrive, with a significant milestone of over 1.4 lakh entities recognized as startups by the Department for Promotion of Industry and Internal Trade (DPIIT) as of June 30, 2024. Among these, an encouraging 67,499 startups have at...
Sebi chief, husband denies Hindenburg allegations as baseless, ET BFSI
New Delhi, Capital markets regulator Sebi Chairman Madhabi Puri Buch and her husband on Saturday denied allegations levelled against them by short seller Hindenburg as baseless and asserted that their finances are an open book. In a statement, Madhabi Puri Buch and...
What are the allegations levied by Hindenburg against SEBI chief?, ET BFSI
SEBI Chairperson Madhabi Puri BuchHindenburg Research on late Saturday post has said that the SEBI Chairperson Madhabi Buch and her husband, Dhaval Buch, had hidden stakes in the exact same obscure offshore Bermuda and Mauritius funds, found in the same complex nested...
Hindenburg alleges SEBI chief’s stake in obscure offshore entities used in Adani scandal, ET BFSI
SEBI chairperson Madhabi Puri BuchHindenburg Research launched scathing attack on the SEBI chief Madhabi Buch on Saturday night alleging her and husband to have a stake in the obscure offshore entities used in the Adani money siphoning scandal."We had previously noted...
Who after Adani? Hindenburg Research says something ‘big’ soon India, ET BFSI
After Adani bombshell last year, Hindenburg Research has hinted at another 'big' India reveal. The US short seller on Saturday, in a post on X (formerly Twitter), said, "Something big soon India."On January 24 last year, Hindenburg Research published a report sharply...
18-month DA, DR arrears for central govt employees, pensioners now? Know what Finance Ministry says, ET BFSI
Is the Union government planning to release the arrears for Dearness Allowance (DA) and Dearness Relief (DR) that were suspended for 18 months during the COVID-19 pandemic for the central government employees? Following numerous representations and letters from...
SC Garg, BFSI News, ET BFSI
Subhash Chandra Garg, Former Finance Secretary of India, recently shared his insights while delivering the keynote address at the fourth edition of annual CFO conference - ETCFO Turning Point event, detailing the factors that could drive India's growth in the coming...
Nirmala Sitharaman to introduce new bills to amend banking laws in Lok Sabha today, ET BFSI
New Delhi [India], August 9 (ANI): As the Parliament convenes for the ongoing Budget Session on Friday, Union Finance Minister Nirmala Sitharaman will introduce new Bills including the Banking Laws (Amendment) Bill, 2024 to amend the Reserve Bank of India Act, the...
SBI projects GDP growth of 7 pc in FY25, lower than RBIs forecast of 7.2 pc due to global headwinds, ET BFSI
New Delhi [India], August 9 (ANI): The State Bank of India in a report projects that India's real GDP will grow by 7.0 per cent year-on-year in FY25, which is slightly lower than the RBI's forecast of 7.2 per cent.The report noted that the slight downgrade by 20 basis...
Steady repo rate, indexation benefits booster dose for housing industry, ET BFSI
New Delhi, The Central Bank's decision to keep repo rates unchanged at 6.5 per cent for the ninth consecutive time aligns well with the government's indexation benefits, industry experts said on Thursday, adding that this will further help aspiring homebuyers.RBI...
Kinara Capital announces Parthasarathy N.S. as new Independent Director, ET BFSI
Parthasarathy N. S, known as the Co-founder of Mindtree which he took from its startup phase to crossing the $1 billion revenue, is appointed as a new Independent Director on Kinara Capital’s’s Board of Directors.He has over 35 years of experience in the field of...
Finance Commission chairman Arvind Panagariya, ET BFSI
India needs to open its economy further, privatise banks and introduce factor market reforms to lift its growth beyond 6.5-7% levels, 16th Finance Commission chairman Arvind Panagariya said."The main reform we need is the privatisation of banks, " he said, adding that...
India mulls major cut to food weighting in new CPI basket, ET BFSI
Representative imageAn Indian government panel tasked with revising the nation’s consumer price index is considering a substantial cut in the weighting of food, according to a person familiar with the matter, a move that could curb inflation spikes in the South Asian...
Lok Sabha passes Finance Bill, amends LTCG tax provision on immovable properties, ET BFSI
The Lok Sabha on Wednesday passed the Finance Bill 2024 after the central government relaxed the freshly-introduced new capital gains tax on real estate, allowing taxpayers an option to switch to a new lower tax rate or stay with the old regime that had higher rate...
SFIO probe into Sahara group companies ongoing: Finance minister, ET BFSI
Nirmala SitharamanNEW DELHI: The Serious Fraud Investigation Office (SFIO) is carrying out a detailed probe into the matter related to the Sahara group companies and further action will be taken after its report, Union Finance Minister Nirmala Sitharaman said in the...
COP29 only chance to bridge climate action, finance gaps: Commonwealth Secretary-General, ET BFSI
New Delhi: The COP29 climate talks in Azerbaijan's Baku is the world's only chance to bridge the gaps in climate action and finance which is crucial to "rebuild trust" among countries and protect lives and livelihoods, Commonwealth Secretary-General Patricia Scotland...
Govt willing to hear cases of harassment for loan recovery: Nirmala Sitharaman, ET BFSI
Finance minister Nirmala Sitharaman on Monday told the Lok Sabha that the government is closely monitoring any harassment of borrowers during loan recovery and is willing to hear any cases that come up.The finance minister made this observation in her reply on the...
Bangladesh unrest not likely to impact India’s overall trade balance: S&P, ET BFSI
India is a well diversified exporter and a blip in its exports to Bangladesh is unlikely to have any meaningful impact on India's overall trade position for the full year, S&P Global Ratings said on Tuesday. Bangladesh is facing its worst political crisis since...
Contours of three jobs schemes being finalised, BFSI News, ET BFSI
New Delhi: The Ministry of Labour and Employment is finalising three employment-linked incentive schemes announced in the budget before forwarding them to the expenditure finance committee for approval later this month. The committee's nod is necessary for rolling out...
India will lower rates by 100 bps by March 2026, Bank of America official says, ET BFSI
India's central bank could cut interest rates by 100 basis points in a monetary easing cycle that is likely to start in December as inflation eases towards its 4% target, a fixed income official at Bank of America, India said. "Once inflation reaches 4%, and based on...
Nirmala Sitharaman to move Finance Bill for consideration and passing in Lok Sabha, ET BFSI
Finance Minister Nirmala Sitharaman on Tuesday will propose in the Lok Sabha that Finance Bill for the financial year 2024-2025, be taken into consideration and passing, as per Lok Sabha's agenda for the day.The Finance Bill needs to be approved by both houses of the...
You can still pay lower or zero TDS with this certificate, ET BFSI
In Budget 2024, it was announced that starting from October 1, 2024, tax deducted at source (TDS) will be deducted at a 10% rate from specified central and state government bonds, including floating rate bonds."In the Union Budget 2024, the Government has proposed a...
World Bank B-Ready index groundwork kicks off, ET BFSI
India has begun the groundwork for the Business-Ready or B-Ready index, the World Bank's new flagship report benchmarking the business environment and investment climate in economies worldwide. B-Ready is replacing the World Bank's Doing Business index that ranked...
Go First creditors vote to liquidate airline, ET BFSI
Mumbai: Creditors to Go First Airlines have unanimously voted to liquidate the carrier after almost a year of trying to find a buyer for the Wadia group-promoted company.A liquidation plea has been e-filed with the Delhi National Company Law Tribunal (NCLT) on Sunday...
Govt offers tech aid to account aggregators as they targeted by fraudsters, ET BFSI
From digital lending startups to payment companies, cyber criminals are targeting almost every facet of the fintech industry to gain access to critical customer data.Non-banking finance companies - account aggregators (NBFC-AAs), which has just started to take off,...
Taxman widens horizons of realty checks on HNIs, BFSI News, ET BFSI
Mumbai: After foreign bank accounts, stock holdings and trusts in tax havens, it's the turn of offshore property deals of wealthy Indians to come under the taxman's lens.At least half a dozen resident Indians were, last week, confounded by summons from the Income Tax...
Deloitte, BFSI News, ET BFSI
Representative imageNew Delhi: India's economy is expected to grow at 7-7.2 per cent in the current fiscal year driven by robust economic fundamentals and continuity in domestic policy reforms, Deloitte India said on Monday. The August update of Deloitte's India...
MF, retail investors’ share in NSE stocks surges to all-time high, FII-DII gap smallest ever: Primeinfobase, ET BFSI
The share of domestic Mutual Funds (MFs) in companies listed on NSE rose to yet another all-time high of 9.17% QoQ as on June 30, 2024, from 8.93%, powered by strong net inflows of Rs 1.09 lakh crore during the quarter, according to data compiled by primeinfobase.The...
Why unwinding of Yen carry trades can rattle global financial markets, ET BFSI
The so-called Yen carry trade has been in focus in the past few trading sessions in the wake of the selloff in shares of US technology giants. A look at what is Yen carry trade and what it means for the financial markets worldwide:What is a Carry Trade?A carry trade...
Nifty fear gauge India VIX jumps over 60%, biggest surge since 2015, ET BFSI
The India Volatility Index (VIX) spiked over 60% on Monday, marking its largest increase since 2015 and reflecting the intensifying market sell-off in line with global trends.The India VIX has crossed levels of 23 with a significant jump of 61.7% on Monday.Indian...
Indian rupee is worst Asian currency in U-turn as yuan carry trades unwind, ET BFSI
By Jaspreet Kalra and Nimesh VoraMUMBAI, - The Indian rupee is now the worst-performing Asian currency -- a U-turn from being the leader in the first half of the year -- pressured by the unwinding of trades that used the Chinese yuan to fund long bets on the local...
India’s BFSI sector to see significant employment surge in H1 FY25: TeamLease, ET BFSI
India's BFSI (Banking, Financial Services, and Insurance) sector is poised for a significant increase in net employment in the first half of FY25, according to a report by staffing firm TeamLease Services. The banking sector is expected to lead this growth, with a...
Inflation to remain around 5 per cent this fiscal: SBI report, ET BFSI
New Delhi [India], August 5 (ANI): The Consumer Price Inflation in India is expected to remain around 5 per cent in the financial year 2024-25 except for September and October month, according to a research report by SBI.The report also noted that the inflation...
RBI approves extension of Unity Small Finance Bank MD, BFSI News, ET BFSI
Kolkata: The Reserve Bank of India has approved the re-appointment of Inderjit Camotra as managing director & chief executive officer of Unity Small Finance Bank.The central bank approved his extension for another two years.Unity Small Finance Bank was promoted by...
India may take 75 years to reach 1/4th of US income per capita: World Bank, ET BFSI
NEW DELHI: India may take nearly 75 years just to achieve one-fourth of US income per capita, as per a recent World Bank report that offers the first extensive blueprint for developing countries to overcome the "middle-income trap."More than 100 countries, including...
About 72% of taxpayers opt for new tax regime for AY 2024-25, BFSI News, ET BFSI
A substantial 72% of taxpayers who filed income tax returns for the assessment year 2024-25 (April-March) have opted for the new tax regime, according to the finance ministry. In contrast, only 28% chose to remain with the old tax regime.As of July 31, the deadline...
SEBI, BFSI News, ET BFSI
The Securities and Exchange Board of India will soon notify the regulations on finfluencers, Madhabi Puri Buch, Chairperson of SEBI, said during an event held at NSE on Tuesday.During the event, SEBI Chairperson said, "We recently had a regulation which we will be...
Sebi targets reduction in fundraising time, BFSI News, ET BFSI
India's markets regulator is working to streamline the fundraising process for companies and simplifying public offer documents for investors, Chairperson Madhabi Puri Buch said on Friday.The Securities and Exchange Board of India (SEBI) is working to merge rights...
Number of ITRs filed surges to record 7.28 crore in 2024-25, first timers add up to 58.6 lakh, ET BFSI
New Delhi, The total number of ITRs (income tax returns) for the assessment year (AY) 2024-25, filed till July 31, has surged to a record high of 7.28 crore, according to figures released by the Finance Ministry on Friday. This represents a 7.5 per cent jump over the...
India top nation in number of IPOs and issuances globally: SEBI Chairperson, ET BFSI
Mumbai, Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch said on Friday that India is the top country when it comes to the total number of initial public offerings (IPOs) and issuances globally.Addressing a FICCI conference in Mumbai, she...
BFSI sector to witness spike in net employment in H1FY25; NBFCs to lead, ET BFSI
Representational ImageThe BFSI sector in India is on a hiring spree as a latest report by TeamLease Services reveals that the sector is set to witness jump in the net employment in the first half of the fiscal year 2025.Banking sector is poised to experience the most...
Rupee averts record low on likely RBI intervention as local equities slide, ET BFSI
By Jaspreet KalraMUMBAI - The Indian rupee was nearly flat on Friday as likely intervention from the Reserve Bank of India helped the currency hold above its all-time low amid pressure from weakness in local equities, which declined tracking a sell-off in global...
Govt weighing proposals to tweak its big tax move in Budget, ET BFSI
New Delhi:India Inc is requesting the government for a phased transition to the long term capital gains (LTCG) tax regime announced in the budget for FY25, which proposes to remove indexation benefits for property, gold and other unlisted assets.The options being...
PM Narendra Modi speaks to India Inc in a Post-Budget interaction, here are the key highlights, ET BFSI
Prime Minister Narendra Modi on Tuesday said that India will become the third largest economy in the world during his third term as the leader of the country. The PM was speaking at the inaugural session of Journey Towards Viksit Bharat: A Post Union Budget 2024-25...
VC investment in India surge in April-June as China faces huge decline, ET BFSI
New Delhi, Venture capital (VC) investment in India surged considerably to $4 billion in the April-June period (Q2 2024), from $2.9 billion in the previous quarter, a report said on Thursday.On the other hand, China saw a massive decline in VC investment from $13.5...
Call for a balanced regulatory approach, ET BFSI
MSMEs are the lifeblood of the Indian economy. Their growth and prosperity are essential for the country's overall economic development.Micro, Small, and Medium Enterprises (MSMEs) are the bedrock of the Indian economy, contributing significantly to employment,...
Rupee to see mild relief as Fed opens door to September rate cut, ET BFSI
The dollar index was at 104 after dropping 0.4% on Wednesday and U.S. bond yields eased, with the 10-year yield touching a low of 4.03%, its lowest level since February.The Indian rupee is likely to open slightly higher on Thursday, tracking gains in most of its Asian...
Goyal rules out change in FDI policy for China, BFSI News, ET BFSI
New Delhi: Commerce & industry minister Piyush Goyal on Tuesday ruled out an immediate rethink of India’s stance on Chinese investment, while slamming UPA’s economic policies, which had made the country dependent on imports and investments from the neighbouring...
Asian Development Bank commits USD 200 mn loan for Swatch Bharat Mission 2.0, ET BFSI
The ADB's support will upgrade and establish solid waste processing and management facilities such as bio-methanation plants, composting plants, managed landfills, material recovery facilities, and plastic waste processing facilities.The Asian Development Bank (ADB)...
Sitharaman’s ‘Harvard & Oxford’ dig at Chidambaram, ET BFSI
NEW DELHI: Finance minister Niramala Sitharaman, replying to the opposition on the Union Budget on Tuesday, took a veiled dig at senior Congress leader P Chidambaram, saying the "Harvard and Oxford educated" leaders failed to contain the inflation as they adopted...
Big LTCG gains for startups staff holding Esop in secondary deals, ET BFSI
HighlightsReduction in Long-Term Capital Gains (LTCG) tax on unlisted securities to 12.5% from 20% could benefit startup staffers holding Employee Stock Ownership Plans (Esop). Secondary funding rounds where an investor buys shares providing liquidity to employees are...
RBI can’t ignore the costs of everyday items as PM Modi’s economic adviser suggested, ET BFSI
A top Indian government adviser’s suggestion that policymakers cut out volatile food prices while targeting inflation met with skepticism from many economists, who say it’s inappropriate to ignore the costs of everyday items that consumers can’t do without.The...
Headline fiscal deficit masks true adjustment, public debt should be lower: Report, ET BFSI
For India, even though there are no formal fiscal rules in place, policymakers have been following the path of fiscal consolidation. The consolidated fiscal deficit was lowered from 6.9 per cent in FY16 to 5.8 per cent in FY19 and public debt to GDP stabilised at...
Daimler India partners with Bajaj Finance to offer comprehensive finance solutions, ET BFSI
Chennai, Daimler India, a subsidiary of German truck manufacturer Daimler Truck AG, has partnered with Bajaj Finance, part of the Bajaj Finserv Group, to offer comprehensive financing solutions to customers. The collaboration between the two entities aims to enhance...
Foreign investors unhappy after India restores curbs on some bond purchases, ET BFSI
By Dharamraj DhutiaMUMBAI - Foreign investors see India's decision to return to curbs on purchases of some government securities as a flip-flop in policy that may force them to redraw investment strategies, global fund managers said on Tuesday.Such limits were dropped...
Avg cost of data breaches in India reaches $2.18 mn in 2023, spikes by 28%, ET BFSI
The Reserve Bank of India (RBI) in a report released on Monday highlighted that the average cost of data breaches in India reached $2.18 million in 2023, marking a 28% increase since 2020.However, this is less than the global average cost of data breach.As per the RBI...
Changes that can hurt you, measures that can lower your tax, ET BFSI
The Union Budget 2024-25 has completely overhauled the capital gains tax framework. Some measures may hurt badly. Homeowners will no longer get the indexation benefit on sale of property, while gains on sale of stocks and equity funds will now attract a higher tax....
Balancing long-term vision with short-term volatility, ET BFSI
The government has made a conscious effort to address the rural distress. Higher spend will create more rural jobs and revive the rural economy. It allocated ₹1.52 lakh cr for agriculture and allied services. The Indian government's FY25 budget struck the path of...
Here’s how Digital Public Infrastructure (DPI) reforms will revolutionise stock market, ET BFSI
The finance minister recently announced the implementation of Digital Public Infrastructure (DPI) in agriculture to cover farmers and their lands. This initiative is a part of the broader Digital India campaign, which is built on the foundation laid by the National...
What is the difference between tax exemption and tax deduction?, ET BFSI
Every year, before you pay income tax and file your tax returns, you avail of certain benefits that slash your tax liability. Referred to as exemptions and deductions, these benefits help reduce your taxable income. While most of these benefits have been removed from...
Manoj Mittal takes charge as CMD of SIDBI, BFSI News, ET BFSI
Manoj Mittal takes charge as Chairman and Managing Director of SIDBINew Delhi, Manoj Mittal has taken charge as Chairman and Managing Director of Small Industries Development Bank of India (SIDBI), following his appointment by the Centre. Prior to this, he was the...
