Industry
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,...
