Demonetisation, Aadhaar spurred digital payments growth: RBI

New Delhi (IANS) After the demonetisation of Rs 500 and Rs 1000 notes in 2016 pushed digital payments, Aadhaar-enabled electronic know your customer (eKYC) resulted in an exponential growth of such payments in the country, according to a new report…

India's construction market to emerge third largest by 2025: Arbitrators panel

New Delhi (IANS) By 2025, the construction market in India is expected to emerge as the third largest globally, while construction output is expected to grow on average by 7.1 per cent each year, a panel of arbitrators has suggested.

The opinion…

RBI overhauls prudential norms for stressed assets' resolution

Mumbai (IANS) The Reserve Bank of India (RBI) on Friday issued new guidelines for dealing with non-performing assets (NPA) after the Supreme Court quashed its February 12, 2018, circular, which had mandated the lenders to start resolution even in…

Videocon loan case: ED summons Chanda Kochhar on June 10

New Delhi (IANS) The Enforcement Directorate (ED) on Friday summoned former ICICI Bank Managing Director and CEO on June 10 in connection with the Rs 1,875 crore Videocon loan case, an official said.

The senior ED official told…

Markets disappointed over lower rate cut; Sensex, Nifty plunge

Mumbai (IANS) Disappointment over a lower-than-expected lending rate cut by the Reserve Bank of India (RBI) dragged the key indices of the Indian equity market down during Thursday's afternoon session.

According to market observers, investors…

RBI cuts key lending rate to boost growth

Mumbai (IANS) Home and auto loans are set to become cheaper as the Reserve Bank of India (RBI) on Thursday lowered its key lending rate for commercial banks by 25 basis points (bps) to 5.75 per cent.

Besides, the RBI changed the monetary policy…

US dollar rises amid Fed's upbeat beige book

New York (IANS) The US dollar rebounded in late trading on Wednesday, as investors got some relief from the US Federal Reserve's latest beige book, which reported upswings in the country's economic activities.

"Economic activity…

Housing sales up 3% in January-March 2019: Report

New Delhi (IANS) Sale of residential apartments during the January-March quarter of 2019 rose by 3 per cent on a quarter-on-quarter basis to 33,000 units across seven major cities in the country, according to a report by real estate services and investment…

Indian economy grew 7.2% in 2018-19, likely to top at 7.5%: World Bank

New York (IANS) As Finance Minister Nirmala Sitharaman prepares her budget, the World Bank reports India's economy grew by 7.2 per cent in 2018-19 in contrast to the recent Indian Central Statistical Office (CSO) estimate of only 6.8…

Air India deal to be sweetened further, PIM likely by July 7

New Delhi (IANS) Moving at jet speed, the two-stage bid process for selling of entire 100 per cent equity stake in national carrier Air India could kickstart as early as July 7.

The government has decided to come out with the preliminary information…