Economy

Indian banks' recovery is likely to be lengthy, given the stress in the domestic corporate and nonbanking finance sectors, according to a report "What's Hurting Indian Banks' Recovery" published by S&P Global Ratings on 27 August 2019.

The Indian plywood market is expected to reach US$5.7 billion by 2024, up from US$4.4 billion in 2018, a report by ResearchAndMarkets said on 26 August 2019.

The Singapore Exchange-National Stock Exchange (SGX-NSE) Connect trading is being implemented at the Gujarat International Finance Tec-City’s (GIFT) International Finance Services Centre (IFSC).

The Finance Minister plans to announce two more tranches of economic growth support measures over the next fortnight, along with accommodative monetary policy, said DBS Group Research in its report on 26 August 2019.

RuPay card, to be launched soon in Bahrain, will make it hassle-free money transfer at cheaper costs for Indian expatriates, Prime Minister Narendra Modi said during a visit to the Gulf country.

FICCI President Sandip Somany hopes the stock markets will respond positively to the economic boosting measures announced on 23 August 2019 by the Finance Minister.

In a bid to boost Indian economy growth to US$5 trillion a year, the Reserve Bank of India’s (RBI) focus will be to continue unlocking the entrepreneurial energies.

60-day GST refund to help MSMEs   The roll back of the higher tax on foreign investors and the release of funds to recapitalise public sector banks will go a long-way in easing liquidity and further giving a much needed...

Finance and Corporate Affairs Minister Nirmala Sitharaman wants the Competition Commission of India (CCI) to ensure Indian enterprises are safeguarded from abuse by entities operating from other jurisdictions.

In a bid to check with weakening economic growth, Finance Minister Nirmala Sitharaman announced on 23 Aug 2019 withdrawal of enhanced surcharge on Foreign Portfolio Investments (FPIs), Goods and Services Tax (GST), Non-Banking Finance Companies (NBFCs), Automobile and property sectors.