Economy and Finance

News and views related to the Indian Economy and Financial sector

News Reports

ISIS mouthpiece calls for donations in Monero (XMR): Here is how ISIS funds terrorist activities using cryptocurrency and what FM Sitharaman said about it

Anurag -
ISIS-backed magazine called for fundraising via privacy cryptocurrency Monero.
News Reports

Reserve Bank of India extends deadline for depositing Rs 2000 notes to October 7; reiterates that it would continue to remain a legal tender

OpIndia Staff -
Banks will stop accepting Rs 2,000 notes for deposit or exchange from October 8. However, RBI specified options that people could avail for depositing or exchanging Rs 2000 notes from October 8
News Reports

Kerala: KTDFC unable to pay back Kolkata-based Ramakrishna Mission’s fixed deposit worth Rs 130 crores, RBI to cancel license

OpIndia Staff -
KTDFC contends that the prevailing predicament stems from KSRTC's (Kerala State Road Transport Corporation) inability to repay a loan of Rs 360 crore, which has since ballooned to Rs 900 crore, inclusive of accrued interest.
News Reports

DGGI issues GST notices totalling Rs 55,000 crore to gaming companies, Ashneer Grover urges govt to withdraw them saying ‘Na koi tax dega, na sarkar ko...

OpIndia Staff -
The notices were delivered following the GST Council's decision to apply 28% GST on the whole face value of bets instead of gross gaming value
News Reports

Bhoomi Pujan for India’s first semiconductor plant conducted in Gujarat’s Sanand, Tata Projects to build the Micron plant, first chip to come out by...

OpIndia Staff -
Bhoomi Pujan (groundbreaking ceremony) for India's first semiconductor plant by Micron took place in Gujarat's Sanand on 23 September
News Reports

JP Morgan includes India in its global bond index, ‘FAR’ programme of the Modi govt facilitated the inclusion

OpIndia Staff -
Following the announcement of JP Morgan, it is now expected that India will be included in the global bond index of other banks as well.
News Reports

‘To save thousands of British jobs’: UK PM Rishi Sunak after Tata Steel and UK govt announce mega £1.25 billion investment deal

OpIndia Staff -
Tata Steel and the U.K. Government has agreed to invest 1.25 billion pounds in Electric Arc Furnace steelmaking plant at Port Talbot
News Reports

Indian economy adds 5.2 crore new formal jobs in FY20-FY23, women’s share 27%: Report

OpIndia Staff -
The total payroll generation of the EPFO and NPS combined is over 5.2 crore from FY20 to FY23. The share of women's payroll was around 27 per cent.
News Reports

Tesla interested in coming to India, planning to source auto parts worth $1.9 billion from the country: Minister Piyush Goyal

OpIndia Staff -
Union Commerce Minister Piyush Goyal informed that Elon Musk-led automaker Tesla Inc is interested in coming to India
News Reports

Loan documents must be released within 30 days of full repayment, ₹5,000 penalty per day for delay: RBI announces major benefit for borrowers

OpIndia Staff -
RBI stated that banks and NBFCs have to release documents of properties and collateral mandatorily within 30 days.
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