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Thursday , 29 June 2017
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Category Archives: Economy

SVC Bank announces Net Profit of Rs 125 crore, retail advances surge by 29.82% to Rs 975 crore in FY 2016-17

Bank’s new differentiated digital approach to focus on digital inclusion with a human touch Financial highlights: Retail advances surged to Rs 975 crore from last year’s Rs 751.41 crore, up by 29.82%. Total advances, including wholesale and retail up by 4.72% to Rs 9273.4 crore versus last year’s Rs 8854.77crore. Current and savings account (CASA) deposits rose significantly to Rs ... Read More »

Kanpur railway junction to be auctioned for Rs.200 crores and Allahabad for Rs. 150 crores

Government plans to auction country’s most prominent railway stations as part of its public private partnership projects that involves redeveloping these stations. An online auction will take place on June 28 in which Kanpur and Allahabad junctions will go under hammer.  Interested companies can log on to railway website and bid for the junction. In website, Kanpur junction has been ... Read More »

Operation Clean Money portal

In an endeavor to fight corruption and black money, Union Finance Minister Arun Jaitley launched portal of Operation Clean Money here today. The launch took place in presence of senior officers of the Ministry of Finance, Department of Revenue and the Central Board of Direct Taxes. The Operation Clean Money was initiated by the Income Tax Department (ITD) on the 31st ... Read More »

Tamilnadu Bus strike

Chennai, May 16,2017: Commuters left stranded across the state on Day 1 due to the infinite strike called by the labor unions including the DMK-affiliated LPF, CITU, AITUC and HMS. These unions began their indefinite strike yesterday demanding wage revision, among other issues. The strike burst out after the third round of discussions between the officials of the Transport Department, ... Read More »

Slow funding options hold back the growth of SME sector

Small and Medium Enterprises (SMEs) are the growth drivers of socio-economic development in the country. There are nearly 51 million small businesses in India that make up for 45% of the country’s manufacturing output and roughly 9% to the country’s GDP. However, a major constraint in the growth of SME sector has been lack of easy funding options. Non-availability of ... Read More »

Fitch Keeps India’s Rating Unchanged At BBB-; No Change In Last 11 Years

fitch-ratings

Fitch, a US based rating agency kept India’s rating unchanged at BBB- citing weak fiscal position as a reason. The rating agency has continued to assign Indian debt the lowest investment grade rating with stable outlook; the same was assigned to Indian 11 years ago. Fitch indicated that India’s GDP will grow by 7.7% in fiscals 2017 and 2018 which would be a ... Read More »

China Stopped Manipulating Currency After I Became President: Donald Trump

US, Government Shutdown, September, Donald Trump

In an unprecedented claim by US President Donald Trump, he insisted that China’s currency manipulation stopped after he was elected as the President of the US.   Trump has always blamed China as a currency manipulator since his election days and vowed to stabilise the situation if he comes to power.  President Trump claimed that China has been manipulating its ... Read More »

RBI notification says banks can’t reject jotted notes

As per the RBI’s notification, banks cannot reject to receive worn and jotted notes. Reserve Bank of India said that worn and jotted banknotes had to be preserved as stained notes and to be accounted as per the central bank’s clean note policy. RBI received complaints that most of the bank branches are not accepting the jotted banknotes and after ... Read More »

IMF says GST to speed Indian growth above 8 percent

In an interview, Tao Zhang, Deputy Managing Director of the International Monetary Fund said that when strong-minded Goods and Services Tax will be applied from July 1 in India, it will aid raise India’s medium-term development more than 8 percent. IMF has mentioned GST will recreate expected higher growth in the upcoming time. He said that government has made important ... Read More »

India On Track To Knock Britain Out Of World’s Top 5 Economies

Indian Economy

In a very upbeat estimation about the growth of Indian economy, the International Monetary Fund has indicated that India will be overtaking Germany by 2022 as the world’s fourth-largest economy and will be pushing the UK out of the top five economies of the world. The IMF also warned of the challenges that Indian economy is facing in form of tax system, distressed ... Read More »

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