economy
News
ICICI welcomes steps to ease credit squeezePrivate sector bank ICICI has welcomed the Reserve Bank of India's (RBI) measures to ease the credit squeeze.
Source : economictimes.indiatimes.com | 11-Oct-2008 13:12
India can weather financial storm: FM
Finance Minister P Chidambaram expressed confidence that India can weather the storm of financial crisis blowing across the world saying the country's economic fundamentals and the banking system were strong
Source : economictimes.indiatimes.com | 11-Oct-2008 12:57
Deposits in banks safe; no reason for anxiety: RBI Governor
Assuring depositors that their money was safe in banks, Reserve Bank of India Governor D Subbarao today said the central bank was geared to inject more liquidity into the country's financial system.
Source : economictimes.indiatimes.com | 11-Oct-2008 12:42
India doing well in export sector: Official
India was doing well in the export sector and would undoubtedly achieve its target set in the sector for the 2008-09 fiscal.
Source : economictimes.indiatimes.com | 11-Oct-2008 12:27
Appropriate measures in place over financial crisis: Mukherjee
India on Saturday said it was too early to figure out what would be the "adverse impact" of the US financial turmoil on its economy, but insisted that it had already put in place "appropriate measures" addressing the crisis.
Source : economictimes.indiatimes.com | 11-Oct-2008 12:12
Is the economy heading for recession?
Industrial growth in August plummeted to just 1.3% raising doubts about whether the economy could achieve even 7.5% growth.
Source : economictimes.indiatimes.com | 11-Oct-2008 07:20
Developing countries worried about growth prospect
Developing countries warned that the deepening global financial crisis could dampen their growth prospects.
Source : economictimes.indiatimes.com | 11-Oct-2008 07:05
IIP down to a crawl, core takes big hit
India?s industrial growth plummeted to a decade?s low of 1.3% in August 2008, driven by a dramatic fall in manufacturing.
Source : economictimes.indiatimes.com | 11-Oct-2008 01:14
Oil dives to $78, recovers to $81
Oil pared losses on Friday after a fall of more than $7 to below $80 a barrel for the first time in a year.
Source : economictimes.indiatimes.com | 11-Oct-2008 00:59
IIP down, but macro picture is bright
High input costs and interest rates may have slackened the pace of growth in industrial output. But economists are still not willing to write off the India growth story.
Source : economictimes.indiatimes.com | 11-Oct-2008 00:44
Centre may amend AS21 to plug gaps in accounting practices
The government may amend an accounting norm that gives certain exemptions to companies from consolidating the balance sheets of subsidiaries with that of the parent under certain circumstances.
Source : economictimes.indiatimes.com | 11-Oct-2008 00:29
EPS subscribers can?t cash out pension money now
The labour ministry has issued a notification that prevents EPFO subscribers from withdrawing one-third of their pension corpus at the time of retirement.
Source : economictimes.indiatimes.com | 11-Oct-2008 00:14
Inflation at 16-week low, declines to 11.8%
Inflation dropped to a 16-week low of 11.8% for the week ended September 27 from 11.99% in the previous week.
Source : economictimes.indiatimes.com | 10-Oct-2008 23:59
Keep faith in economy, will ease cash crunch: PC
In consultation with the RBI and other regulatory authorities, the government will address liquidity and other concerns about the economy.
Source : economictimes.indiatimes.com | 10-Oct-2008 23:44
Core growth tumbles to 2.3% in Aug
Core infrastructure industries logged a sluggish growth of 2.3% in August 2008 compared to 9.5% in the corresponding month of the previous year.
Source : economictimes.indiatimes.com | 10-Oct-2008 23:29
India's economy, banking system sound: Subbarao, RBI chief
Economy & banking system in India are sound, the RBI chief assured world financial community, as credit crunch intensify. IIP growth dips | Inflation at 11.80%
Source : economictimes.indiatimes.com | 10-Oct-2008 23:14
Chidambaram cancels Washington visit
Finance Minister P Chidambaram tonight cancelled his visit to Washington for attending the Fall meeting of the World Bank and IMF on Monday.
Source : economictimes.indiatimes.com | 10-Oct-2008 19:26
Oil falls near 13-month low on global slowdown
Oil prices briefly plunged below $79 a barrel on Friday, dropping to the lowest level in nearly 13 months as investors grow more pessimistic about the prospects for resolving a mushrooming global economic crisis.
Source : economictimes.indiatimes.com | 10-Oct-2008 19:11
ICICI credit profiles are fine: S&P
Indian bank ICICI's exposure to the creidt crisis is likely to hurt its profits but will not dent its credit profile, rating agency Standard & Poor's said on Friday after a sharp drop in the bank's share price.
Source : economictimes.indiatimes.com | 10-Oct-2008 18:56
Indian banks' exposure to Lehman not significant: RBI
Most of Indian banks' exposures are to those Lehman Brothers' subsidiaries which have not filed for bankruptcy, the Reserve Bank has said.
Source : economictimes.indiatimes.com | 10-Oct-2008 18:41
No recession in India, continuous watch on global situation: PM
The Prime Minister said India's banking system is not affected to the same degree as in the western countries. In pics: Mkts crash | Global Market Meltdown
Source : economictimes.indiatimes.com | 10-Oct-2008 18:26
Financial crisis may pressure interest rates in India: RBI
This week alone, RBI has announced a 1.5-per cent cut in mandatory deposits that banks keep with the central bank, raising expectations of reduction in interest rates by banks.
Source : economictimes.indiatimes.com | 10-Oct-2008 18:11
Bihar approves Rs 197 crore to plug Kosi breach
Bihar cabinet to spend Rs 197 crore to plug the breach in the embankment caused by Kosi river in Nepal which left more than 30 lakh people marooned in five districts.
Source : economictimes.indiatimes.com | 10-Oct-2008 17:56
RBI extends CRR cut to RRBs
Reserve Bank has extended one per cent cut in the mandatory deposit requirement -- cash reserve ratio -- by banks to Regional Rural Banks as well in addition to earlier announced 0.5 per cent reduction so as to further ease pressure on liquidity.
Source : economictimes.indiatimes.com | 10-Oct-2008 17:41
CRR cut is a welcome step: Chanda Kochhar
The CFO and Joint Managing Director of ICICI bank, Chanda Kochhar has welcomed the move by RBI to cut CRR by 150 basis points.
Source : economictimes.indiatimes.com | 10-Oct-2008 17:26
India-China trade to touch $100 bn in five years
India's trade with China will touch the 100-billion dollar mark in the next five years.
Source : economictimes.indiatimes.com | 10-Oct-2008 17:11
OPEC meet in November, crude price slides below $80
OPEC has scheduled a special meeting in November, as the cartel's crude oil price remained below $80 for the second day in a row.
Source : economictimes.indiatimes.com | 10-Oct-2008 16:56
Credit crisis: A call back to old gold standard?
The only means central banks have is to lower interest rates artificially in an attempt to provide liquidity. Global icons crash | US mortgage crisis: A subprimer
Source : economictimes.indiatimes.com | 10-Oct-2008 16:41
Citi, Goldman see RBI easing liquidity further
RBI will keep liquidity management as a top priority and may adopt more steps to ease cash conditions further.
Source : economictimes.indiatimes.com | 10-Oct-2008 16:26
Looming recession, cash crisis cut oil demand: IEA
Approaching recession and a banking cash crisis are cutting into global demand for oil and may set back investment in new oilfields.
Source : economictimes.indiatimes.com | 10-Oct-2008 16:11
Is India 2nd fastest growing economy?
Contrary to Finance Minister P Chidambarm's prediction, India actually ranks 24th.
Source : economictimes.indiatimes.com | 10-Oct-2008 15:56
Goldman expects rate cut at RBI policy meeting on poor IIP
Goldman Sachs says the probability of a rate cut at RBI?s Oct 24 policy meeting has increased, with India?s Industrial Production Index growth for August falling to a low of 1.3% and WPI inflation easing to 11.8 per cent.
Source : economictimes.indiatimes.com | 10-Oct-2008 15:41
Experts caution Indian policymakers against denial mode
RBI must keep watch on the market trends. Though Indian financial market's exposure is much less, any complacency will be bad.
Source : economictimes.indiatimes.com | 10-Oct-2008 15:26
Aug industry output growth slowest in a decade
India's industrial output grew at its slowest pace in nearly 10 years in August, indicating high interest rates were crimping demand.
Source : economictimes.indiatimes.com | 10-Oct-2008 15:11
Oil drops to $82 a barrel, lowest in a year
US light crude for Nov delivery was $4.19 down at $82.40 a barrel by 0915 GMT. It touched a session low of $82, its lowest since Oct 2007. Experts' view on CRR cut
Source : economictimes.indiatimes.com | 10-Oct-2008 13:24
Liquidity main problem, will act swiftly: FM
As the stock market crashed under the pressure of global meltdown and the RBI cut the CRR by one percent, Finance Minister P Chidambaram on Friday promised to address liquidity and other concerns of the economy.
Source : economictimes.indiatimes.com | 10-Oct-2008 13:09
Liquidity main problem, will act swiftly: FM
Finance Minister P Chidambaram on Friday promised to address liquidity and other concerns of the economy.
Source : economictimes.indiatimes.com | 10-Oct-2008 12:54
India Inc welcomes CRR cut, demands interest rates cut
Reeling under severe credit crunch, the Indian industry on Friday welcomed the RBI decision to cut CRR rate by another 100 basis points.
Source : economictimes.indiatimes.com | 10-Oct-2008 12:39
CRR cut could soften interest rates: Bankers
With another round of cut in the mandatory cash deposit requirement by 100 basis points, bankers feel that the easing of the liquidity would translate into softening of interest rates.
Source : economictimes.indiatimes.com | 10-Oct-2008 12:24
Crude oil falls further, shrugs likely output cut by OPEC
Crude oil prices continued to slide, ignoring comments by OPEC president that the cartel is very likely to cut production during an emergency meeting on Nov 18.
Source : economictimes.indiatimes.com | 10-Oct-2008 12:09
Oil plummets below $83 on global slowdown fears
Oil prices plummeted to a one-year low below $83 a barrel on Friday in Asia as investor fears of a severe global economic downturn.
Source : economictimes.indiatimes.com | 10-Oct-2008 11:54
Inflation at 11.80%; down from 11.99 WoW
Inflation continued its downward journey at 11.80 per cent for the week ended September 27 from 11.99 per cent in the earlier week . Experts on Infy results
Source : economictimes.indiatimes.com | 10-Oct-2008 11:39
Fundamentals of Indian economy still strong: FM
Finance Minister P Chidambaram Friday reiterated that the fundamentals of the Indian economy were strong, and set up a high-level group to look into the liquidity requirements following the mayhem in the capital market.
Source : economictimes.indiatimes.com | 10-Oct-2008 11:24
Industrial growth slumped to 1.3% from 10.9% in August
India's industrial growth slumped to 1.3 per cent in August this year, compared to a 10.9 per cent growth in August 2007.
Source : economictimes.indiatimes.com | 10-Oct-2008 11:09
Aug infrastructure output up 2.3 pc
Country's infrastructure sector output grew 2.3 per cent in August from a year earlier, above July's 4.3 per cent annual growth, government data showed on Friday.
Source : economictimes.indiatimes.com | 10-Oct-2008 10:54
Major uncertainties loom for Asia-Pacific: S&P
While Asia-Pacific economies have so far proven reasonably resilient to global financial markets dislocation, risks and uncertainties loom for the region, Standard & Poor's Ratings Services says in a report.
Source : economictimes.indiatimes.com | 10-Oct-2008 10:39