New Delhi: Banks and financial institutions have sanctioned Rs 23.2 lakh crore to over 40.82 crore beneficiaries under the Mudra Yojana launched to fund the unfunded eight years ago. Pradhan Mantri MUDRA Yojana (PMMY) was launched on April 8, 2015, by Prime Minister Narendra Modi to facilitate easy collateral-free micro-credit of up to Rs 10…
NPS has been implemented for all central government employees joining on or after January 1, 2004. Finance Ministry on Thursday set up a committee under Finance Secretary T V Somanathan to review the pension system for government employees. The committee would suggest whether in the light of the existing framework and structure of the National…
Equity investors have become richer by over Rs 10.43 lakh crore in the past five days New Delhi: Equity investors have become richer by over Rs 10.43 lakh crore in the past five days, as markets continued their winning momentum helped by foreign fund inflows and stable global trends. The market capitalisation of BSE-listed firms…
India is the world’s largest milk producer and last imported dairy products in 2011. New Delhi: A spurt in demand for dairy products amid an almost stagnant milk output in the last one year has led to tight supply situations and elevated prices, industry experts said, and warned that rates may remain firm this summer….
For the June quarter, the retail inflation is expected to average 5.1 per cent. (File) New Delhi: The Reserve Bank today projected marginal easing in retail inflation to 5.2 per cent in the current fiscal, but cautioned that the fight against inflation is far from over. Although the Reserve Bank pared its inflation estimate from…
The web portal aims to enable search across multiple banks, Shaktikanta Das said. (File) Mumbai: The Reserve Bank today said a centralised portal will be developed to access details of unclaimed deposits by depositors or their beneficiaries across various banks. About Rs 35,000 crore unclaimed deposits as of February 2023 were transferred to RBI by public sector banks (PSBs) in respect of deposits…
Bouncing back from early fall, the 30-share BSE Sensex climbed 176 points to 59,866.(File) Mumbai: Equity benchmark indices recovered early lost ground and were trading in the positive territory in Thursday mid morning trade after RBI kept the repo rate unchanged at 6.5 per cent even as inflation is trending above its tolerance level. Bouncing…
India Stack is the collective name of a set of commonly used digital public infrastructure in India. New Delhi: India has built a world-class digital public infrastructure which is transforming lives and economy and can be a lesson for many countries to follow, an IMF Working Paper said. India Stack is the collective name of…
The Centre is hopeful of a record wheat output of 112.2 million tonne in 2022-23 crop year. (File) New Delhi: With India likely to harvest a record wheat output, the Centre said it is confident of achieving wheat procurement target of 34.2 million tonne and will soon take a call on relaxing quality norms for buying…
The RBI recently allowed RuPay credit cards to be linked to UPI. (File) Mumbai: The Reserve Bank of India (RBI) is proposing expanding the reach of the popular Unified Payments Interface (UPI) digital payments system by allowing credit to be offered via pre-approved bank lines. “This initiative will further encourage innovation,” RBI governor Shaktikanta Das…
Price rise is a matter on which the Centre is very sensitive and responsive, the Finance Minister said. Bengaluru: Union Finance Minister Nirmala Sitharaman today said the inflation has been kept at six per cent or below despite adverse circumstances as a result of the Covid-19 pandemic and the Russia-Ukraine conflict. Price rise is a…
IBUs were earlier permitted to transact in rupee NDF forex derivatives contracts with non-residents. Mumbai: The Reserve Bank of India said it is proposing to permit banks with IFSC banking units to offer non-deliverable forex derivative contracts involving the Indian rupee to resident users in the onshore market. An IFSC Banking Unit or “IBU” is…
