The Reserve Bank of India (RBI) has assured investors that the RBL Bank is well capitalised and the financial position of the bank remains satisfactory. The statement from the central bank came after the share price fell nearly 25% on Monday morning early trade following the weekend action by the central bank. At 11:33 am, the stock was trading … Read more
Moving ahead with the vision of the Make in India programme, the Modi government has urged tech giant Apple Inc to generate annual production output worth around $50 billion in India over the next 5-6 years. The move comes after a high-level meeting top government officials held with senior representatives from Apple. The govt of India has … Read more
The Finance Ministry on Wednesday issued three show-cause notices to Chinese phone maker Xiaomi’s India unit ‘Xiaomi Technology India’ for evading customs duty by way of undervaluation. With notices, the tax authorities are demanding Rs 653 crore in tax from the company. This is after a detailed investigation was initiated by the Directorate of Revenue Intelligence (DRI) … Read more
On Thursday, May 9, the Air India Express cabin crew agreed to end its ongoing strike. The cabin crew withdrew the strike after the airline agreed to look into issues raised by them, news agency PTI reported. Following the decision by the cabin crew to end the strike, Air India Express has agreed to take back the … Read more
According to a senior procurement officer, the Indian Army will stop importing ammunition in the upcoming fiscal year since its domestic industry has increased its production capacity to satisfy the military’s requirements. The Indian Army’s Additional Director General (Procurement), Major General V.K. Sharma, said that although the army had previously placed a significant emphasis on imports to … Read more
Finance Minister Nirmala Sithraman presented the Union Budget 2022 on February 1. This year’s budget was Finance Minister Nirmala Sitharaman’s fourth successive budget. In her speech, Finance Minister Nirmala Sitharaman said that the Union Budget sought to lay the foundation and give a blueprint of the economy over ‘Amrit Kal’ of the next 25 years … Read more
Deposits in bank accounts opened under the Modi government’s Jan Dhan initiative, which was introduced roughly seven and a half years ago, have surpassed Rs 1.5 lakh crore. The total balance in approximately 44.23 million Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts was Rs 1,50,939.36 crore at the end of December 2021, according to the latest … Read more
Despite sour relations with China over aggressions at the border, India’s trade relations with the county continues on an upwards trend. India has a trade deficit with China for a long time now, which means India imports far from China compared to exports across the Himalayas. According to reports, India-China trade grew to a record $125 … Read more
India’s dedication to democratic processes is demonstrated by its efforts to ensure that every individual gets an opportunity to exercise his/her right to vote. This includes setting up polling booths in some of the most distant and inaccessible areas of the country. From high-altitude Himalayan settlements to deep forests inhabited by indigenous tribes, these polling booths demonstrate … Read more
India’s gross domestic product (GDP) growth is estimated to be 8.3 percent this fiscal year and 8.7 percent in 2022-23, according to the latest Global Economic Prospects report by World Bank. The upgrade in growth prediction reflects increased private sector and infrastructure investment, as well as rewards from advancing reforms. This estimate for 2021-22 is identical to the … Read more