Latest News & Videos, Photos On Economy

03 Jan

Public sector bank Punjab and Sind Bank (PSB) has partnered with SBI Card

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Public sector bank Punjab and Sind Bank (PSB) has partnered with SBI Card to launch co-brand credit cards for the bank’s customers. PSB has additionally entered the mastercard market as a brand new product section in its portfolio as a results of this collaboration. 3 card variants—the PSB SBI Card ELITE, PSB SBI Card PRIME, and PSB SimplySAVE SBI Card—have been launched by each partners. This collaboration additionally marks the entry of PSB into ‘credit cards’ as a brand new product section beneath the bank’s portfolio.The connection value for the PSB SBI Card ELITE is Rs 4,999 and taxes, the…

31 Dec

Financial Stability Report, December 2022

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The 26th edition of the money Stability Report was discharged by the Reserve Bank of India on December 29. The reserve bank depository money concern banking of India publishes a financial stability report (FSR) each 2 years (RBI). The report reflects the Sub-Committee of the money Stability and Development Council’s (FSDC) collective analysis of the money system’s resilience and vulnerabilities to money stability.The findings of the strain tests, that square measure revealed during this issue of the FSR, show that, ought to they occur, even extraordinarily severe stress circumstances, banks would be able to survive them. Credit risk macro stress…

31 Dec

The government’s fiscal deficit in end-November touched 59 per cent

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The government’s commercial enterprise deficit in end-November touched fifty nine per cent of the complete year Budget Estimate on enlarged cost and slow growth in non-tax revenue. In actual terms, the commercial enterprise deficit, that is that the distinction between expenditure and revenue, was Rs 9.78 lakh throughout the April-November amount of 2022-23. within the corresponding amount last year, the deficit was 46.2 per cent of the Budget Estimates of a pair of 21-22.The government has budgeted commercial enterprise deficit to be Rs 16.61 lakh or 6.4 per cent of the gross domestic product within the current year ending March…

29 Dec

From 29 December India, Australia Economic Cooperation and Trade Agreement comes into force

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India, Australia Economic Cooperation and Trade Agreement comes into force from 29th Dec. India and Australia signed the Economic Cooperation and Trade Agreement (ECTA) on the 2nd of Apr 2022. ECTA is that the initial trade agreement of Bharat with a developed country when quite a decade. The agreement encompasses cooperation across the complete gamut of bilateral economic and business relations between the 2 friendly countries.Under this trade agreement, Indian exports can get pleasure from advantageous zero-duty market access in Australia for a hundred per cent of its tariff lines. It'll profit India’s labor-intensive sectors like gems and jewelry, textiles,…

29 Dec

SBI Foundation and HESCO’s Project for Chamoli

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SBI Foundation has designed a project together with range of mountains atmosphere Studies and Conservation (HESCO) that aims to push equitable economic and ecological development in ten disaster-prone villages in Joshimath Block of Chamoli District.Uttarakhand has been experiencing global climate change impacts as well as seasonal changes, less snow, flash floods, and unpredictable downfall. Regarding 70% of the population in mountain districts depends on agriculture for subsistence and faces problems thanks to little and fragmented land holdings. Individuals there consider ancient crop varieties, lack market and technology linkage, and square measure liable to crop depredation by wild animals.

28 Dec

A leader in digital payments, has received in-principle authorisation from the Reserve Bank Of India

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Worldline ePayments India (WEIPL), a pacesetter in digital payments, has received in-principle authorisation from the banking company Of India (RBI) to act as a payment collector (PA). The authorisation by the tally was below the provisions of the rules on Regulation of Payment dated March 17, 2020.Worldline ePayments India, a part of Worldline cluster, offers solutions for all styles of payment desires giving in-store, online, and omnichannel payments to its customers.Payment Aggregators facilitate e-commerce sites and merchants in acceptive payment instruments from the customers for completion of their payment obligations while not the requirement for merchants to make a separate payment integration…

27 Dec

RBI emerged as the largest buyer of the yellow metal among central banks between April 2020 and September 2022

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With 132.34 metric tonnes (MT) of gold purchase, run batted in emerged because the largest vendee of the alpha-beta brass among central banks between April 2020 and September 2022. Also, run batted in was the highest gold vendee among its peers in 2020 whereas it stood third in 2021. In 2020, it bought 41.68 MT of gold whereas in 2021 and 2022 (till September end) it bought 77.5 MT and 31.25 MT severally. Every major financial organization keeps some of its reserves in gold because it plays a fine hedging instrument within the time of uncertainty and economic turmoil. Throughout the balance of payment crisis…

27 Dec

According to the Centre for Economics and Business Research (CEBR) and several other agencies, a global recession will start in 2023

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The report predicts that India’s economy will reach $10 trillion by 2035 and rank third globally by 2032. Since the US is one of the great superpowers, a mild or deeper recession will eventually have worldwide repercussions. The crisis ultimately grew and spread into a global economic shock, manifesting itself in a number of European bank failures, drops in several stock indices, and significant falls in the value of the Indian market. Given that Indian businesses had significant outsourcing agreements with US clients, a slowdown in the US economy was undoubtedly terrible news for India. Over the years, India’s exports…

24 Dec

International Monetary Fund, IMF reduced India’s growth prediction for FY23 from 7.4% forecast in July to 6.8%

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IMF decreases FY23 India’s GDP growth forecast: In lightweight of lower-than-anticipated output within the second quarter and additional sluggish external demand, the International money (IMF) reduced India’s growth prediction for FY23 from seven.4% forecasted in Gregorian calendar month to six.8%. India’s growth projection for FY23 has undergone 3 decreases, ranging from Sept. 11 in January of this year.According to the World Economic Outlook (WEO), that was printed in Washington, DC, India’s growth is foreseen to any decelerate in FY24, reaching 6.1%. Solely Asian country is projected by sto develop at a bigger rate than Asian nation in 2022, at a…

22 Dec

Global Economy on a steep Slowdown: According to the most recent World Bank study

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Global Economy on a steep Slowdown: in step with the foremost recent International Bank for Reconstruction and Development study, the world economy is experiencing a pointy decline once nearly a year of uncertainty in 2022. The globe Bank report noted that the COVID-19 pandemic’s repercussions area unit still being felt nowadays within the style of education losses, worldwide inflation, provide chain disruptions, and alternative problems on a worldwide scale.The global economy is presently experiencing its steepest lag once a post-recession recovery since 1970, in step with the report 2022 in 9 Charts, that conjointly mentioned growth. World shopper confidence has…