In a significant move, the Reserve Bank of India (RBI) has shifted its monetary policy stance after 20 months of holding rates higher to combat inflation. The recent monetary policy committee (MPC) meeting saw the stance change from “withdrawal of accommodation” to “neutral.” This shift has sparked curiosity among market participants about what it means …
India has achieved a significant milestone in its renewable energy journey, surpassing 200 GW (gigawatts) of total renewable energy capacity as of October 10, 2024. According to the Central Electricity Authority, the current renewable energy-based electricity generation capacity stands at 201.45 GW. This accomplishment highlights India’s commitment to clean energy and its ongoing efforts to …
India’s automobile exports showed impressive growth in the June quarter, rising by 15.5% year-on-year, with all segments, except for three-wheelers, experiencing increased shipments. According to the latest data from the Society of Indian Automobile Manufacturers (SIAM), total exports reached 11,92,577 units in the first quarter of the current fiscal year, up from 10,32,449 units during …
The Growth Hub Index 2024 report highlights Asia’s dominance among the world’s top 15 growth hubs, with an impressive 14 of these cities located in the region. These cities are projected to excel in terms of wealth accumulation, economic expansion, and developmental opportunities by 2033. Indian cities stand out prominently in this landscape, with four …
After Reliance Jio, the PHD Chamber of Commerce has also asked the Telecom Regulatory Authority of India (Trai) to revise its consultation paper on the rules for allocating satellite spectrum. They argue that the paper fails to address important issues regarding fair competition between satellite and terrestrial networks. In a letter to Trai Chairman AK …
Non-Banking Financial Companies (NBFCs) have demonstrated a remarkable ability to attract deposits, surpassing traditional banks in recent years. According to the Reserve Bank of India (RBI), NBFCs collectively achieved a 21% increase in deposits during the financial year 2024 (FY24), while banks struggled with a more modest 13.5% year-on-year (YoY) growth. The allure of NBFCs …
The Reserve Bank of India (RBI) continues to drive India’s digital payment revolution by increasing the transaction limits for UPI 123Pay and UPI Lite. During the Monetary Policy Committee (MPC) 2024 meeting, Governor Shaktikanta Das announced this update aimed to enhance digital payments, especially for feature phone users. As part of the RBI’s ongoing efforts …
As India’s economy continues to demonstrate resilience, the Reserve Bank of India (RBI) is poised to announce its monetary policy decision on October 9, 2024. Despite mounting pressure to ease interest rates, the central bank is widely expected to maintain the status quo, reflecting concerns about inflation and global economic uncertainties. Check out what to …
International crude oil prices increased in the last session, marking their largest weekly rise in over a year due to the growing risk of a regional war between Israel and Iran. However, the gains were somewhat restrained after U.S. President Joe Biden advised Israel not to target Iranian oil facilities. Brent crude futures went up …
Banks saw higher year-on-year (Y-o-Y) growth in raising deposits during the second quarter of FY25 (Q2FY25) compared to the first quarter (Q1FY25), thanks to efforts to attract more deposits by offering higher interest rates and new schemes. 4 out of 5 banks experienced a 2-3% faster growth rate compared to the quarter ending June 2024. …
