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Friday, May 3, 2024
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Economy

India, world’s fastest growing economy, isn’t growing fast enough to create enough jobs

Glacial economic reforms, fragile banking sector, rigid labor laws and a spotty educational system are holding India back.

Yes Bank shares plunge after RBI defers CEO Rana Kapoor’s extension

Kapoor has received RBI approval to continue as managing director and CEO of the Mumbai-based lender until “further notice” from the regulator.

Demonetisation and its impact on tax collection and formalisation of the economy: Arun Jaitley

The larger purpose of demonetisation was to move INDIA from a Tax Non-compliant society to a compliant society. 

A marathon plane is in the making, and it could take you halfway around the world in 20 hours

Boeing believes its vehicles can survive a journey from Sydney to London, but airlines have to catch up by designing appropriate interiors. 

Nirav Modi sent & received same diamonds worth millions by FedEx: US probe

A 3 carat large yellow diamond was allegedly shipped at least 4 times between Modi's shadowy companies over 5 weeks in 2011.

No end to fake notes problem, data shows huge jump in counterfeit Rs 500 & Rs 2,000

RBI's annual report says overall detection of counterfeit notes in fiscal 2018 was 31.4% lower than the previous fiscal.

Rising oil prices could cause Indian banks to sweat

Higher oil prices will likely widen India's current-account deficit, but this won't affect the country's external position.

To address bad loans, govt asks RBI to identify public sector banks that can be merged

Govt has also asked RBI to suggest a time frame for the consolidation to create better-capitalised lenders and improve regulatory oversight.

Rupee plunges to all-time low of Rs 70.52 against dollar

Higher crude oil prices and dollar's strength against few overseas currencies has kept the rupee under pressure.

Rs 13,000 crore – the amount of currency banks did not get back after demonetisation

RBI said Rs 15.31 lakh crore of total Rs 15.44 lakh crore of old currency notes had returned to the system after demonetisation in November 2016.

On Camera

Two documents, Modi-Macron visits—India-France defence partnership is touching new heights

Horizon 2047 signed during Modi's visit to France in July 2023 and the defence industrial roadmap during Macron’s visit to India in January 2024 guide the strategic bonhomie between the two countries.

How govt brought Vodafone Idea back from the brink & earned a neat profit in the process

In 2021, the government allowed telcos to convert interest on deferred spectrum payments and AGR dues into equity. This made it the single largest stakeholder in Vodafone Idea.

China builds road through Shaksgam Valley, India registers protest

New Delhi has, in past, too, objected to Chinese construction activities in Shaksgam Valley. Work in this strategic region gathered pace after the 2017 Doklam stand-off.

Frontrunner is letting the challenger define this poll campaign. Modi still hasn’t found a big theme

A theme has not yet emerged for BJP & people see lack of a contest, which makes it unexciting. For all these reasons, 2024 is turning out to be an unexpectedly theme-less election.