Economy

Punjab National Bank Raises Lending Rates By 0.40% To 6.90%

Punjab National Bank Raises Lending Rates By 0.40% To 6.90%

Saturday May 07, 2022, New Delhi

Punjab National Bank on Friday said it has hiked its external benchmark linked lending rate by 0.40 per cent to 6.90 per cent with effect from June 1

Economists Expect More Aggressive Rate Hikes From RBI To Tame Inflation

Economists Expect More Aggressive Rate Hikes From RBI To Tame Inflation

Reuters | Thursday May 05, 2022, New Delhi

India's central bank is expected to frontload more aggressive interest rate hikes in its effort to tame high inflation, at least until its repo rate hits its pre-Covid level of 5.15%, economists said after a long-anticipated rate hike on Wednesday.

India's Services Sector Activity At Five-Month High In April Despite Inflation Worries

India's Services Sector Activity At Five-Month High In April Despite Inflation Worries

Reuters | Thursday May 05, 2022, Bengaluru

Activity in India's dominant services sector grew at its fastest pace in five months in April on strong demand, prompting firms to add jobs for the first time since November, a private survey showed.

"Necessary Step In Right Direction," Says Finance Secretary On RBI Rate Hike

"Necessary Step In Right Direction," Says Finance Secretary On RBI Rate Hike

Reported by Sunil Prabhu, Edited by Prashun Talukdar | Thursday May 05, 2022, New Delhi

The government said that Reserve Bank of India (RBI) took an imperative move by raising the key interest rate. "Necessary step in the right direction," Finance Secretary TV Somanathan told NDTV on Thursday.

RBI's Surprise Rate Hike: Top Comments From Economists

RBI's Surprise Rate Hike: Top Comments From Economists

Edited by Animesh Singh | Wednesday May 04, 2022

Economists across the board felt that more such action could be seen from the central bank in the days to come

RBI’s First Rate Hike In 4 years, What Becomes Costly?

RBI’s First Rate Hike In 4 years, What Becomes Costly?

Edited by NDTV Business Desk | Wednesday May 04, 2022

The RBI has increased the repo rate upto 4.40 per cent from 4 per cent earlier while the cash reserve ratio (CRR) has been hiked by 50 basis points to 4.5 per cent

In A Surprise Move, RBI Hikes Key Interest Rate As Inflation Fight Intensifies

In A Surprise Move, RBI Hikes Key Interest Rate As Inflation Fight Intensifies

Anup Roy, Subhadip Sircar and Adrija Chatterjee, Bloomberg | Wednesday May 04, 2022

Indias central bank raised its key policy rate in a surprise move Wednesday, sending bond yields higher, as it intensified the battle against inflation thats outpaced its expectations for much of the year.

Merchandise Export Rose 24% In April To $38.19 Billion, Trade Deficit Widens

Merchandise Export Rose 24% In April To $38.19 Billion, Trade Deficit Widens

Press Trust of India | Tuesday May 03, 2022

Trade deficit during the month under review widened to $20.07 billion as against $15.29 billion recorded during the corresponding period of last year

India's Total Coal Production Reached 661.54 Lakh Tonnes In April

India's Total Coal Production Reached 661.54 Lakh Tonnes In April

Edited by Animesh Singh | Tuesday May 03, 2022

Coal India Limited, the country's largest dry fuel producer, achieved highest production of 534.7 lakh tonnes in April 2022

Amid Power Crisis, Government Sets June-End Deadline For Coal Imports

Amid Power Crisis, Government Sets June-End Deadline For Coal Imports

Reuters | Tuesday May 03, 2022, NEW DELHI

States and private companies "must import" coal and "ensure continuous power supply in the respective states", the Power Ministry letter read

Government's Tax Devolution May Exceed Budget Estimate In Current Fiscal: Report

Government's Tax Devolution May Exceed Budget Estimate In Current Fiscal: Report

Press Trust of India | Tuesday May 03, 2022, Mumbai

The central tax devolution is likely to rise to Rs 9.3 lakh crore in 2022-23 from Rs 8.8 lakh crore in 2021-22

Government Says Fertiliser Subsidy May Rise To Rs 2.5 Lakh Crore In 2022-23

Government Says Fertiliser Subsidy May Rise To Rs 2.5 Lakh Crore In 2022-23

Press Trust of India | Tuesday May 03, 2022, New Delhi

Government has said that fertiliser subsidy for this fiscal might increase to around Rs 2.5 lakh crore

Coal India's Supplies To Power Sector Saw 16% Rise In April

Coal India's Supplies To Power Sector Saw 16% Rise In April

Press Trust of India | Monday May 02, 2022, New Delhi

Coal India Limited said supply to the power sector rose 15.6 per cent to 49.7 million tonnes last month in the wake of high demand from power plants

India's Electricity Demand Touches Record High In April

India's Electricity Demand Touches Record High In April

Reuters | Monday May 02, 2022, New Delhi

India's electricity demand touched a record high in April as its northern states reeled under the hottest pre-summer months in decades, with a surge in the use of air conditioning triggering the worst power crisis in more than six years.

Amid Speculations On RBI's Rate Hike, Money Managers Look For Safer Bets

Amid Speculations On RBI's Rate Hike, Money Managers Look For Safer Bets

Subhadip Sircar, Nupur Acharya and Divya Patil | Monday May 02, 2022

A hawkish pivot by the RBI has money managers scurrying to find safer bets while bracing for potentially the steepest rate hikes in Asia