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Household Debt Doubles In FY23, Savings More Than Halves To 5.15% Of GDP: SBI Research

Press Trust of India | Thursday September 21, 2023, Mumbai

The net financial savings of households plunged by close to 55 per cent in FY23 to 5.1 per cent of GDP, and their indebtedness more than doubled to Rs 15.6 lakh crore from FY21, primarily led by massive borrowings from banks, shows an analysis of latest official numbers.

Government Says Working On Using AI To Reduce Pendency Of Consumer Cases

Press Trust of India | Tuesday September 19, 2023, New Delhi

The Consumer Affairs Ministry on Tuesday said it is working on using artificial intelligence (AI) to reduce the pendency of cases in various consumer courts in the country.

Fitch Retains India's Growth Forecast For Current Fiscal At 6.3%

Press Trust of India | Thursday September 14, 2023, New Delhi

Fitch Ratings on Thursday retained India's growth forecast for the current fiscal at 6.3 per cent saying the Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, but upped year-end inflation projection on El Nino threat.

Wholesale Inflation Stays In Negative For Fifth Month At -0.52% In August

Press Trust of India | Thursday September 14, 2023, New Delhi

Wholesale price-based inflation remained in the negative territory for the fifth straight month in August at (-)0.52 per cent, but prices of food articles and fuel showed an uptick.

3rd Phase Of Mandatory Gold Hallmarking Begins In 55 Districts, 17 States

Press Trust of India | Friday September 08, 2023, New Delhi

The government on Friday said the third phase of mandatory hallmarking of gold jewellery and artefacts has come into force in 55 new districts in 16 states and one Union territory.

Rupee Falls 9 Paise To Settle At Lifetime Low Of 83.22 Against US Dollar

Press Trust of India | Thursday September 07, 2023, New Delhi

The Rupee depreciated for the fourth straight day and settled 9 paise lower at its lifetime low of 83.22 (provisional) against the US dollar on Thursday amid a firm American currency and elevated crude oil prices.

Oil Nears $90 For First Time In 2023, Fuel Price Unlikely To Change In India

Press Trust of India | Wednesday September 06, 2023, New Delhi

Oil prices hit a 10-month high of nearly USD 90 per barrel as Saudi Arabia and Russia extended their voluntary production and export cuts until the end of the year.

Rupee Falls 10 Paise To Close At All-Time Low Of 83.14 Against US Dollar

Press Trust of India | Wednesday September 06, 2023, New Delhi

The rupee depreciated by 10 paise and settled for the day at an all-time low of 83.14 (provisional) against the US dollar today, weighed down by a surge in crude oil prices and strong American currency.

Tata Seeks Control Of Haldiram's, Snack Maker Wants $10 Billion Valuation: Report

Reuters | Wednesday September 06, 2023, New Delhi

Tata Group's consumer unit is in talks to buy at least 51% of popular snack food maker Haldiram's but is not comfortable with the $10 billion valuation sought, two people briefed on the matter said.

Finance Minister Asks Financial Entities To Ensure Customers Nominate Heirs

Press Trust of India | Tuesday September 05, 2023, Mumbai

Finance Minister Nirmala Sitharaman today asked banks and other financial institutions to ensure that their customers must update nominees to help resolve the problem of unclaimed money in future.

India Has Potential To Do 100 Billion UPI Transactions A Month: NPCI CEO

Press Trust of India | Tuesday September 05, 2023, Mumbai

India has the potential to do 100 billion Unified Payments Interface (UPI) transactions a month, a top official from the National Payments Corporation of India said today.

RBI Committed To Bring Down Inflation To 4%: RBI Governor Shaktikanta Das

Press Trust of India | Tuesday September 05, 2023, New Delhi

Reserve Bank Governor Shaktikanta Das today said the central bank is committed to bringing down inflation to 4 per cent and will remain watchful of risks as more frequent global supply shocks can have profound implications on the management of the price situation.