Outstanding debt of states have risen over the last five years to 25% of gross domestic product, posing medium term challenges to its sustainability, according to the Reserve Bank of India
Reserve Bank of India
Bombay Stock Exchange
UAE-based investors largest non-resident group in Indian mutual funds
According to the data, UAE-based investors pumped $2.1 billion in FY 2019 in equity investments through mutual funds
currency crisis
Rupee set to continue its slide against the dollar
The falling rupee value has added to the loss of foreign investors in the Indian stock market
Foreign investors
India central bank unveils $24bn windfall for government
Prime Minister Narendra Modi has come under increasing pressure to fire the economy, with unemployment hitting its highest level since the 1970s.
Cleartrip
Indian tourists eyeing Middle East destinations
Spending on international travel amounted to about $1.6 billion in Q2 2019
Bhushan Power & Steel
India state lender Punjab National Bank plunges after uncovering fresh $554m fraud
State lender Punjab National Bank said a vast majority of the fraud took place at its Chandigarh branch, and also involved offices in Hong Kong and Dubai
RBI
Deputy governor of India’s central bank resigns
Viral Acharya made headlines last October when he strongly argued for independence of RBI at a time when the government and the central bank were at loggerheads
Kotak Mahindra Bank
Billionaire Kotak’s bank fined in clash with Indian central bank
The Reserve Bank of India imposed a penalty of $300,000 on the Mumbai-based company
banking
India’s RBI cuts repo rate, announces ‘accommodative’ policy stance
The move marks the third consecutive cut in interest rates effected by the RBI this calendar year.
emerging market
India’s central bank cuts interest rate with more easing seen
Thursday’s cut reverses the 50 basis points of increases delivered by the Reserve Bank of India last year
Aviation
India’s Jet Airways grounds 15 more aircraft as crisis deepens
Debt-ridden Indian airline takes decision to ground more planes due to non-payment of fees to lessors
election campaign
India’s Central Bank injects liquidity into mark in bid to soften lending rates
The Reserve Bank of India is slated to buy back $1.8 billion worth of government securities this week
India inflation
India Central Bank faces trouble getting banks to cut rates
A mismatch between deposits and credit growth, and competition from the government for small-savings mean banks face a high cost of capital, limiting their ability to transmit monetary policy easing
Indian Finance Ministry
India central bank cuts rates ahead of election
It marked the first interest rate decision under new bank chief Shaktikanta Das, an ally of Modi who was appointed in December after his predecessor
currency market
Rupee slides against US dollar amid pressure from fiscal deficit, elections
Rising crude prices and uncertainty about the outcome of India’s ‘Election 2019’ will also have negative impact on rupee
dollar bond
India’s SBI raises $1.25bn from overseas bonds
Some analysts see the move as a proxy attempt by the government to prevent the rupee from falling again
Dubai
Rahul Gandhi slams demonetisation as ‘rash and irresponsible’ in Dubai
Opposition Indian National Congress president Rahul Gandhi said that unemployment would be his top economic priority if voted into office in the 2019 general elections