Economy and Finance

News and views related to the Indian Economy and Financial sector

News Reports

Recovery in employment generation, 4 million jobs created in last one year: Reports CMIE, known for its proximity to P Chidambaram

OpIndia Staff -
CMIE says that there has been an increase in employment with more than 405 million employed during May-August 2019.
Opinions

As PMC bank depositors wait a long fight to get their money bank, the scam raises several questions on bank regulation

Guest Author -
80% of deposits of PMC bank are in FDs, so relaxing withdrawal limit does not help much
News Reports

PM Modi draws nation’s attention to the harmful effects of e-cigarettes in Mann ki Baat

OpIndia Staff -
PM Modi said that there is very little awareness of the harmful effects of e-cigarettes among the masses.
Economy and Finance

Invest in Pakistan if you have concerns about India’s economy: Rakesh Jhunjhunwala slams Ex-head of London Chamber of Commerce

OpIndia Staff -
Slamming Ex-head of London chamber of commerce, Rakesh Jhunjhunwala asked him to 'invest in Pakistan' if he has doubts about India’s economic growth.
Economy and Finance

PMC Bank gave 96.5 crores personal loan to builder after his company had defaulted on 2500 crores loan: Report

OpIndia Staff -
PMC Bank had total lendings at around 8300 crores and exposure to HDIL alone is reportedly at 31%.
Economy and Finance

RBI relaxes withdrawal limit for PMC Bank account holders from Rs 1,000 to Rs 10,000 per account

OpIndia Staff -
The Reserve Bank of India had earlier enforced regulatory restrictions on the PMC bank limiting its customers from withdrawing not more than Rs 1000.
News Reports

After RBI’s restrictions on PMC bank, customers file police complaint against bank officials

OpIndia Staff -
The Reserve Bank of India on Tuesday imposed restrictions on PMC Bank (Punjab and Maharashtra Cooperative Bank), a Mumbai based urban cooperative bank
Economy and Finance

IRCTC to launch IPO on September 30, expects to raise Rs 500-600 crore

OpIndia Staff -
The government is looking to offload up to 20 million shares in IRCTC, following that the government's stake in IRCTC will come down by 12.5 per cent and expected to make Rs.500-600 crore.
Economy and Finance

RBI puts restrictions on Punjab and Maharashtra Cooperative Bank, account holders can’t withdraw more than Rs 1,000

OpIndia Staff -
Punjab and Maharashtra Cooperative Bank account holders can't withdraw more than ₹1000
Economy and Finance

Supreme Court judgments have led to 23 lakh job losses in the mining sector, says Federation of Indian Mining Industries

OpIndia Staff -
Federation of Indian Mining Industries (FIMI) stated that some SC judgments have led to job loss of 23 lakh people, both direct and indirect, in the mining sector, excluding petroleum and natural gas
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