India's economy faces a new challenge in deflation, chief economic advisor Arvind Subramanian said on Wednesday after GDP data earlier this week showed lower first quarter growth.
The rupee snapped its two-day winning run against the American currency on Thursday and ended the session lower by 5 paise at 66.24 on fresh dollar demand from banks and importers on the back of higher greenback in the overseas market amid fall in crude oil prices.
Swedish telecom equipment maker Ericsson said on Wednesday it has bagged a four-year 4G network rollout contract in Delhi from Bharti Airtel.
Bharti Airtel and Idea Cellular have hiked charges for their post-paid users by around 20% in various circles including Delhi after increasing data tariff for pre-paid customers in the national capital.
Fresh trouble could be brewing for debt-laden Air India (AI) with a section of pilots contemplating to strike work in protest against a recent notification to remove senior pilots (captains and commanders) from “workmen” category.
Hinting at the fourth interest rate cut this year, Reserve Bank of India governor Raghuram Rajan has said he is not done with lowering rates and the central problem for the entire world remains slowing economic growth.
Uncertainty and slow pace of economic reforms can come in the way of India's economic growth potential, Reserve Bank of India (RBI) governor Raghuram Rajan has warned, while listing out a raft of policy priorities which needed immediate attention.
In a first in the extremely competitive home finance market, ICICI Bank, on Wednesday, launched a mortgage product backed with a guarantee to help the borrower avail more credit and also extended the tenure, for an upfront fee of 2% of the loan amount.
State-owned Life Insurance Corp of India (LIC) has purchased nearly 90% of Indian Oil shares sold by the government in its Rs 9,379-crore disinvestment.
The rupee recovered by 26 paise to 66.39 against the dollar at the Interbank Foreign Exchange in early trade on Tuesday on fresh selling of the US currency by banks and exporters.
India and Nepal signed an agreement on Monday to construct a 41-km-long oil pipeline connecting both countries.
As stocks and rupee hit new lows on Monday, Reserve Bank of India (RBI) governor Raghuram said the country is in better position relative to many other economies.
The rupee plunged by 82 paise -- its biggest single day fall this year -- to settle at 66.65 against the US dollar as global meltdown fears remained unabated.
The skyrocketing prices of onions, a key ingredient used in making dishes ranging from curries to biryanis, reflects India’s inability to insulate staples from weather-induced supply disturbances.
The proposed 'payments banks' will increase competition for public sector lenders, Fitch Ratings said on Thursday even as RBI governor Raghuram Rajan reassured they will complement the traditional banking sector.