Economy and Finance

News and views related to the Indian Economy and Financial sector

News Reports

3 top Vivo executives, including interim CEO Hong Xuquan, arrested by Enforcement Directorate for money laundering

OpIndia Staff - 24 December, 2023

ED's probe unearthed that Vivo India had remitted nearly Rs 62476 crore to China, constituting almost 50% of its turnover, ostensibly to avoid taxes in India.

News Reports

This will be a game changer for the payments industry: Payments Council of India welcomes RBI allowing tokenisation of cards through banks

ANI - 22 December, 2023

The Payments Council of India (PCI), a representative body of the non-banking payment industry in India, welcomed the RBI's move to enable the issuing of tokens for cards via internet and commercial banks.

Economy and Finance

IMF commends India’s economic resilience and growth amid global challenges, projects 6.3% growth in 2023-24

ANI - 20 December, 2023

The current account deficit is anticipated to improve to 1.8 per cent of GDP in FY2023/24, supported by resilient services exports and lower oil import costs.

News Reports

Ashok Gehlot ruined Rajasthan’s economy, left a debt of Rs 5.37 lakh crore on the state, failed to boost GDP

अर्पित त्रिपाठी - 18 December, 2023

A report by the Reserve Bank of India shows that Rajasthan has a debt of Rs 5.37 lakh crore by the end of the financial year 2022-23. This debt was only Rs 2.81 lakh crore in 2018 when Ashok Gehlot took over the office.

News Reports

As politicians in Bihar bat for caste census, here is how caste politics took Bihar’s economy to the bottom

OpIndia Staff - 16 December, 2023

The recent resurgence of caste politics in Bihar raises concerns about Bihar's economic trajectory. Odisha's per capita GDP is thrice that of Bihar.

News Reports

India and Oman exploring Rupee trade between the two countries, utilising UPI stack in Oman’s digital economy: Foreign Secretary

ANI - 16 December, 2023

Foreign Secretary Vinay Kwatrasaid that discussions are underway between India and Oman on utilising UPI stack, and Rupee trade between the 2 countries

News Reports

While I.N.D.I.A. Bloc parties continue to attack Gautam Adani, JDU-RJD-ruled Bihar to receive Rs 8,700 crore investment from Adani Group

OpIndia Staff - 14 December, 2023

Adani Group announced at the Bihar Business Connect 2023 that it will invest Rs 8700 crore in Bihar in several sectors

News Reports

Punjab CM Bhagwant Mann in panic mode as State has only four months left to utilise ₹8,000 crore out of ₹11,000 crore granted by...

OpIndia Staff - 8 December, 2023

Aam Aadmi Party (AAP) government in Punjab has only utilised ₹3000 crores out of ₹11000 crore worth of grants made by the centre this year

News Reports

Indian Banks Association has submitted a proposal for 5-day work week with off on all Saturdays, confirms Finance Ministry in Parliament

OpIndia Staff - 6 December, 2023

Union Finance Ministry confirmed in Parliament that the Indian banking sector has formally proposed to declare all Saturdays as official bank holidays

News Reports