Economy

Economy

Ease of Doing Business: ‘India needs healthy macro-economic environment to become $10 tn economy’

NEW DELHI: India will have to create and nurture a very healthy and supportive macro-economic environment to become USD 10 trillion economy by 2030, Economic Affairs Secretary Subhash Chandra Garg today said here. Garg further said the Modi government has…
Economy

Experts find India

The investment ecosystem in India is improving and investors are ready to take a bet on start-ups, according to venture capitalists, who also see potential in platforms based on foundational technologies like Artificial Intelligence and Blockchain. Participating in a panel…
Economy

Niti Aayog plans National Data & Analytics Platform

NEW DELHI: The government is planning to build an advanced technology platform to host and interpret huge amount of data that will integrate and help better understand of citizens’ data, spend patterns of the government, consumption trends and the success…
Economy

RBI issues notification on data storage by payment companies

MUMBAI: The RBI today asked all payment system operators in the country to store all data, including full end-to-end transaction details and information collected, within India to ensure security of users’ information. The operators have been asked to comply with…
Economy

RBI asks banks to submit

MUMBAI: Manual intervention in data reporting by banks on loan disbursements at the state level is leading to integrity issues, the Reserve Bank said today. The Central bank asked lenders to submit the true data as reflected in their core…
Economy

RBI issues stiff norms for transportation of cash by banks

MUMBAI: The RBI today came out with stiff guidelines for service providers hired by banks for transportation of cash in the wake of increasing reliance on outsourcing of such activities by lenders. As per the guidelines, the service provider must…
Economy

Forex reserves rise by $1.82 billion to $424.36 billion

Mumbai: India’s foreign exchange (Forex) reserves increased by $1.82 billion as on March 30, official data showed on Friday. According to the Reserve Bank of India‘s (RBI) weekly statistical supplement, the overall Forex reserves rose to $424.36 billion from $422.53…
Economy

Is Modi government killing bitcoin to launch its own Lakshmi?

Did the Reserve Bank of India (RBI) pull the plug on crypto-currencies to make way for one of its own? In February, Economic Affairs secretary Subhash Chandra Garg had said that the government was planning steps to ensure crypto-currencies were…
Economy

India

by Anirban Nag India’s central bank appears optimistic about economic growth prospects, expecting demand and investment to underpin a recovery this year. The nation’s companies aren’t so sure. A survey of 1,250 manufacturing firms conducted by the Reserve Bank of…
Economy

Store data locally, RBI directs payment facilitators

Payments facilitators as diverse as Visa, MasterCard, Google or Whatsapp now face the regulatory heat locally, with the central bank asking the global behemoths to host India-relevant data within the country and bringing oversight rules on a par with what…
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