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November CPI inflation eases to 5.48%. (AI image) CPI inflation: The Consumer Price Index (CPI) inflation for the month of November 2024 eased to 5.48% as against 6.21% in October 2024. The retail inflation has fallen within the Reserve Bank of India’s target range of 2-6%. The Index of Industrial Production saw a growth rate…
ADB lowers GDP growth projection to 6.5% from 7% NEW DELHI: The Asian Development Bank (ADB) on Wednesday lowered India’s growth forecast for 2024-25 to 6.5% from the earlier 7%, citing lower-than-expected second quarter growth, driven by dampened manufacturing performance and lagging govt spending.The Manila-based multilateral agency also lowered growth projections for 2025-26 to 7%…
An entity majority-owned by embattled billionaire Gautam Adani, who was indicted in US courts last month, has pulled back from a loan pact valued at $553 million from the US International Development Finance Corporation, according to a company filing.“The project will be financed through the company’s internal accruals and capital management plan. We have withdrawn…
MUMBAI: Stocks and bond markets could expect a straight-talking new RBI governor who is focussed on growth and faster technology adoption by banks. However, brokerages are divided if Sanjay Malhotra, the incoming RBI chief, would go for a faster easing of interest rates.According to a report by Goldman Sachs, Malhotra’s expertise in taxation has played…
The Haldiram founding family has been considering various strategic alternatives. Haldiram in demand! Alpha Wave Global, formerly Falcon Edge and a Tiger Global Management spinoff, has submitted a binding proposal to acquire a portion of Haldiram Snacks Food, India’s premier snack and convenience foods manufacturer. According to informed sources, this transaction could rank amongst India’s…
The overnight MCLR at HDFC Bank has risen by 5 bps, moving from 9.15% to 9.20%. HDFC Bank Loan Rates: HDFC Bank has increased its marginal cost of funds-based lending rate (MCLR) for short-term periods by up to 5 basis points (bps). The revised HDFC Bank MCLR interest rates now span from 9.20% to 9.50%….
Experts suggest that buying during price dips remains advantageous, with possibilities of reaching 25,500 in the near term. (AI image) Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Monday. While BSE Sensex opened over 100 points down, Nifty50 was above 24,650. At 9:16 AM, BSE Sensex was trading…
Putin commended PM Narendra Modi’s national-centric approach and the “Make in India” programme. Russia willing to set up manufacturing operations in India? At the VTB Investment Forum in Moscow, the Russian president Vladimir Putin drew parallels between Russia’s import substitution programme and India’s “Make in India” initiative. He indicated Russia’s readiness to establish manufacturing units…
PAN Card serves as both a tax identifier and physical identity proof. PAN 2.0: With the Modi government announcing a comprehensive upgrade of the PAN infrastructure, taxpayers are wondering whether PAN 2.0 with enhanced QR code will be similar to m-Aadhaar or e-Aadhaar systems. Will PAN 2.0 feature dynamic QR codes for KYC, identity verification…
NEW DELHI: Engineering exporters have cautioned against imposition of safeguard duty on steel, arguing that it will increase prices in the domestic market and make exports uncompetitive. Steel makers are lobbying hard for protection from imports, arguing that cheap imports from Asean nations, which have a free trade agreement, are hurting the domestic players. Arguing…