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Tuesday , 28 February 2017
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Category Archives: Economy

From April 1, SBI to Merge with 5 Associates Banks

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SBI will get merged with its five associate banks from 1st April 2017. SBI is the largest bank in India and now after this merger it will become largest consolidation in Indian banks’ history. The merger will be made among State Bank of Bikaner and Jaipur,   State Bank of Mysore, State Bank of Travancore, State Bank of Patiala and ... Read More »

New 1000 note to be launched soon; fake Rs 500 notes printed in Pakistan

Sources have revealed that new Rs 1000 currency notes will soon be released by RBI. Reports claim that RBI has already started printing the new Rs 1000 currency notes. On the condition of anonymity, sources have revealed that the release of new Rs 1000 notes was scheduled for January 2017, but the same could not be achieved because of the ... Read More »

Asian Millennials Face Critical Retirement Finance Crunch – Manulife Survey

Average millennial expects to accumulate only one-third of what is typically required for retirement 3 in 10 millennials expect to run out of money in retirement, and nearly 4 in 10 expect to carry mortgage debt into their retirement years HONG KONG, CHINA - 21 February 2017 - A new survey of Asian investors reveals that millennials in the region are at substantial ... Read More »

Debit card transactions to cost less with reduced MDR

The Reserve Bank of India (RBI) has issued a draft circular, which talks about reducing the Merchant Discount Rate (MDR). The MDR is a charge that is levied on debit card transactions. The RBI has proposed rationalization of MDR charges to encourage people to use digital payment modes. The RBI feels that the momentum of digital transactions need to be ... Read More »

Overseas FDI down by 57%: RBI

In a report released by the Reserve Bank of India (RBI) today, it has been revealed that direct investments made overseas by Indian companies has declined by 57.3% in January 2017. Overseas FDI by Indian companies in January 2017 was only $ 1.82 billion. The corresponding figure for January 2016 was $4.25 billion. The overseas FDI for January 2017 is ... Read More »

UBI to be launched by next year; alleviate poverty: Arun Jaitley

The Universal Basic Income (UBI) scheme is expected to be launched over the next one year’s time. UBI will aim to provide a minimum amount of cash to poor people, so that they can meet their basic needs. Finance Minister Arun Jaitley said that the scheme would be launched on a trial basis in some parts of the country over ... Read More »

Industrial output shrinks 0.4% in December due to demonetization

The effect of demonetization of Rs 500 and Rs 1000 notes could clearly be seen on industrial activity as output contracted to four-month low of 0.4% in December. The worst hit was the consumer durables segment, which came down by more than 10%, largely due to unavailability of cash among people. In November, the industrial output was 5.7 percent and ... Read More »

In next coming five years India will be the world’s fastest growing economy- says Think Tank

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A report by Think Tank, Washington, says that in next coming five years India will be the world’s fastest growing economy. Report said India will be the world’s fastest growing economy during the next five years as China’s economy chills and growth in other snorts but on the other hand inside tensions over disparity and religion will obscure in growth ... Read More »

FDI To India Spikes 60% In November 2016

FDI

In a sweet development for the India government and corporate sector, the Foreign Direct Investment (FDI) to India has risen by around 60 percent in November 2016 on yearly basis. The current FDI stood at $4.68 billion whereas it was $2.93 billion in November 2015. The main countries who brought FDI in India were Singapore, Mauritius, the UK, the US, ... Read More »

India to overtake US economy by 2040

According to a report published by business consultancy firm PricewaterhouseCoopers (PwC), India is expected to overtake the United States economy by the year 2040 in terms of purchasing power parity (PPP). The report states that in just around two decades, India will be the second largest economy in terms of PPP, only after China. “In fact, China has already overtaken ... Read More »

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