6.9% GDP growth in October¬-December : Polls
Recently a Reuters poll predicted that India’s economy grew at its fastest pace in a year in the October¬-December quarter.
Banks rush to tweak the internal policies
After the central bank directed the banks to link their core banking systems (CBS) with inter-bank messaging platform SWIFT, banks are scurrying to install systems to prevent frauds.
Cotton import expected to rise
As textile mills are increasingly buying cotton from the U.S. in larger quantities, cotton imports this season might surpass the official estimate of 17 lakh bales.
E-waybill likely from April 1
A group of state finance ministers (GoM) proposed e-way bill system for inter-statemovement of goods over Rs 50,000 in value and 10 km in distance will be rolled out from April 1.
RBI launches Ombudsman scheme for NBFCs
In order to strengthen the redressal mechanism, the Reserve Bank of India (RBI) launched the Ombudsman Scheme for non-banking financial companies (NBSFCs).
Global Virome Project is hunting for more than 1 million unknown viruses
The global Virome project has recently been created wwhich aims to identify more than 1 million unknown viruses and it also aims to prevent the next human pandemic.
ONGC to boost output
In response to a government push to increase local supplies and cut expensive imports, Oil and Natural Gas Corp. is set to boost output from domestic oil fields.
Inflation could spur shift in stance
Monetary Policy Committee (MPC) of RBI is likely shift from its current ‘neutral’ policy stance to a ‘withdrawal of accommodation’ stance if headline inflation projection for the year ahead remained well above the target.
New list of sick PSUs for divestment : NITI Aayog
Policy think-tank NITI Aayog recently declared that it is preparing another list of sick PSUs that can be privatised.
Cabinet nod for amendments to Chit Funds Act
The Cabinet approved amendments to the Chit Funds Act to facilitate orderly growth of the sector and provide more financial products to investors.