The India Meteorological Department’s forecast of a “below normal” monsoon in April would potentially toughen challenges for the Narendra Modi government which is already battling a farm crisis triggered by unseasonal rains in March-April this year.
The prediction of a below-normal monsoon could bring back the spectre of high food prices.
The benchmark BSE Sensex fell below the 27,000-mark on Wednesday by falling 351 points as investors trimmed positions in realty and FMCG stocks as hopes of another rate cut this year took a hit on fears of a drought in the country.
Shares of Nestle India slumped over 10% on Wednesday amid growing concerns about safety standards of its popular Maggi noodles.
The rupee continued to rule weak today and closed 8 paise lower at 63.90 against the US dollar due to steady demand for the greenback from importers amidst sliding equities.
With the Swiss government signing a landmark Automatic Exchange of Information (AEOI) agreement with the European Union (EU) last week, efforts are underway for a similar bilateral pact with India.
Brazil is poised to raise interest rates by 50 basis points on Wednesday for the fifth straight time, maintaining its tight money campaign to battle inflation despite fears it could worsen an expected economic recession.
Non-repatriable investments by NRIs, OCIs and PIOs will be treated as domestic investments and will not be subject to foreign direct investment caps, the Commerce and Industry Ministry said on Wednesday.
The Reserve Bank of India is not more comfortable over inflation now than it was at its previous policy in April, Governor Raguram Rajan said in an interview to the ET Now television channel on Wednesday.
Three senior SpiceJet executives, including the airline’s chief of flight safety, have been asked to leave in the last one month, sources said.
India may be staring at its first drought in six years with the government downgrading the monsoon forecast on Tuesday, sparking concerns about growth in Asia’s third-largest economy as it recovers from its worst slowdown in 25 years.
From June 15, BSNL subscribers will not have to pay roaming charges. The service would be offered for a period of one year to begin with, and extended depending on the response.
Belgium is recovering nearly 540 million euros ($600 million) from its “black money” probe into 829 accounts in HSBC Private Suisse Bank in Geneva, the Belgian finance ministry confirmed to HT on Tuesday.
The Reserve Bank of India (RBI) cut its policy interest rate by a quarter percentage point on Tuesday, easing policy for a third time this year, in a move that was widely expected as policymakers try to put the improving economy on a firmer footing.
IoT is a scenario where objects, animals and people are provided with unique identifiers and the ability to transfer data over a network, without requiring human-to-human or human-to-computer interaction.