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Economy

Indian exports | Representational Image | Bloomberg

Why Indian textile, leather exporters want restoration of preferential trade terms with US

Commerce minister Piyush Goyal has called for restoration of benefits under the US’ Generalized System of Preferences. The Trump administration removed India from GSP list in June 2019.
A file photo of Finance Minister Nirmala Sitharaman | ANI photo

Modi govt committed to compensate state for 5 years for loss due to GST rollout: Sitharaman

Sitharaman said Rs 37,134 crore and Rs 14,664 crore worth GST compensation is yet to be released to states for 2020-21 and 2021-22 fiscal years.
Snapdeal website seen on a phone | Photo: Kuni Takahashi | Bloomberg

Snapdeal plans to file Rs 1900-crore IPO early next year

Snapdeal would become the largest tech company to test investors’ appetite for IPOs after the disastrous debut of Paytm’s parent, One 97 Communications Ltd.
Reserve Bank of India building in Mumbai |

RBI could hike rates from next fiscal on inflation, Goldman Sachs predicts

Goldman expects the RBI to continue with the ongoing liquidity tightening, then hike reverse repo by 40 basis points.
File photo of Reliance Group chairman Anil Ambani | Photo: Dhiraj Singh | Bloomberg

Anil Ambani’s Reliance Capital unraveling shows why RBI hates big business in banking

Reliance Capital joins a long list of Indian shadow banks that have keeled over since the sudden collapse of infrastructure financier IL&FS Group in September 2018.
A vendor hands Indian rupee banknotes to a customer at a stall in Chauta Bazaar in Surat, Gujarat

Govt spending, low rates fuel India’s growth as Omicron variant threatens recovery

India remains on track to post the fastest growth among major economies as most sectors, including services and exports, show momentum.
File photo of Reliance Group chairman Anil Ambani | Photo: Dhiraj Singh | Bloomberg

RBI supersedes board of Anil Ambani’s Reliance Capital over defaults in payment

The central bank also appointed Bank of Maharashtra's former executive director Nageswar Rao Y as the administrator of the NBFC.

How Omicron will hurt global recovery: Economists spell out possibilities

The worst case scenario would be a return to growth-crippling lockdowns, which would threaten already strained supply chains and damage recovering demand.
The logo of Reliance Jio is displayed at a store in Mumbai | Representational image | Photographer: Dhiraj Singh | Bloomberg

Jio follows Airtel & Vodafone Idea to raise tariffs, mobile plans to cost 20% more now

The sector-wide tariff hike underscores that the bruising price war since Jio’s entry in 2016 is phasing out and will reduce financial stress for Airtel and Vodafone Idea Ltd.
Union Finance Minister Nirmala Sitharaman speaks in the Rajya Sabha during the Monsoon Session of Parliament in New Delhi, on 9 August 2021 | PTI

India has no proposal to recognise Bitcoin as currency: Nirmala Sitharaman in Parliament

Sitharaman said the Modi govt doesn't collect data on Bitcoin transactions. Centre plans to introduce cryptocurrency bill that seeks to ban all but a few private cryptocurrencies.

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YourTurn

The Royal Society's Science Book Prize shortlisted six authors for 2021

Books about stargazers, mystery illness, and fungi are the best of science writing in 2021

The shortlist for the Royal Society Science Book Prize 2021 highlights the importance of accessible science writing.

Indian bankers risk losing business to Google, PhonePe, says Uday Kotak

Banks will need to scale up technology, hire more and focus on customer and not sales-centric approach to match competition from the 'deep-pocketed tech firms', the Kotak founder said.

Defence

Indian Navy ready to deal with any security challenge, says Admiral R Hari Kumar

Speaking on eve of Navy Day, the Navy chief said the situation along India's northern border has added to security complexities along with Covid & that the 'dual' scenario continues.

Yes, UPA’s dead. But here’s what Mamata, PK are saying about Congress & why that’s right too

Even in its second successive annihilation by BJP, Congress retained a solid block of 20% votes. That’s why all of BJP’s victims want the Congress at the core of their challenge.
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