Friday, March 29, 2024

Economy and Finance

Indian Economy to grow at 8.3% in the first quarter and 6.7% in FY24: What the SBI research says

SBI’s Chief Economic Advisor, Ghosh added that the first quarter of 2023-24 saw a huge increase in capital expenditure both by the centre (63%) and the states (41%).

BRICS bank plans to issue first ever Indian Rupee bond by October, plans to tap Indian market

The COO of NDB Vladimir Kazbekov said, "We're going to tap (the) Indian market - rupees - maybe by October in India.”

‘Udyam registration’ by Modi government helped in formalisation of MSMEs on large scale, reveals SBI Research

According to SBI Research, Udyam is now propelling the filing of Income Tax Returns (ITRs) by the MSMEs.

China faces ‘Lehman Moment’ fears as big investment firm misses payments

The Wall Street Journal on Saturday reported that investors fearing a 'Lehman moment' in China are threatening the solvency of the country's financial system.

RBI Unveils UDGAM Portal to resolve the issue of unclaimed bank deposits, read how such deposits can be traced easily

Anyone can access the UDGAM portal to search for bank details, it only needs a phone number and some basic details like PAN, AADHAAR etc

No increase in EMIs as RBI maintains the repo rate at 6.5%, expresses concern over rising inflation

RBI paused the repo rates at 6.5 per cent for the third time in a row amid concerns over inflation.

Biggest Crypto-ponzi scam of India busted in Odisha, Bollywood actor Govinda had released promotional video of the company

The EOW officials found that the company was using popular terminology like green energy and solar technology to hide its scam.

Foxconn to invest $600 million in Karnataka to set up two plants to manufacture iPhone components and chipmaking equipment

Foxconn will invest $600 million, almost ₹5,000 crore, to set up two manufacturing plants in Karnataka.

Semicon India 2023: US chipmaker AMD announces investment of $400 million in India by 2028, to build largest design centre in Bengaluru

Advanced Micro Devices (AMD) has announced that it will invest around $400 million in India over the next five years

Banks recovered more than Rs 10 lakh crores from bad loans in the last nine years: Finance Ministry tells Lok Sabha

“Comprehensive measures have been taken by the Government and RBI to recover and to reduce NPAs, including those pertaining to corporate companies, which has enabled an aggregate recovery of Rs. 10,16,617 crore (RBI provisional data for FY 2022-23) by SCBs during the last nine financial years,” the written reply stated. 

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