Gold smugglers are adopting methods of drug couriers to sidestep a government crackdown on imports, stashing gold in imported vehicles and using mules who swallow nuggets to try to get them past airport security.
The rupee recovered from early losses and gained 31 paise to close at a one-month high of 62.05 against the dollar today on fresh selling by exporters and banks, amid foreign capital inflows into local stocks.
A day after finance minister P Chidambaram said that the Indian economy would clock a growth rate of 5% in 2013-14 in the backdrop of a sharp fall in the current account deficit (CAD), industry chambers CII and Ficci echoed the sentiment. Rosy talks on green shoots
India's current account gap narrowed sharply in the September quarter, thanks to steps to curb gold imports, the latest in a run of positive signs for a sluggish economy.
Prime Minister Manmohan Singh, whose UPA government has come under criticism for exercising controls on energy pricing, on Tuesday said that market-based pricing and technology were essential to meet India’s growing energy needs, underlying a reformist intent. Feeding energy-hungry India
The Indian rupee has swung between two extremes over the last six months. Its value against the dollar during this period broadly resembles the shape of a V, with steep fall for the first four months followed by a gradual climb during the later part of the curve. Money in a maze
The Reserve Bank of India plans to introduce increased capital requirements by 2016 for banks regarded as too big to fail, and make them subject to greater regulatory oversight.