India Manufacturing Purchasing Managers’ Index (INPMI), climbed to 56.5, up from an 18-month low of 54.9 in December, according to HSBC India Manufacturing Purchasing Managers’ Index compiled by S&P Global. India’s manufacturing industry had significant progress at the start of 2024, achieving its quickest expansion in four months in January. Although the final reading was […]
Zomato has obtained a licence from the Reserve Bank of India (RBI) for its subsidiary, Zomato Payments, allowing the company to function as an online payment aggregator. This milestone positions Zomato alongside industry leaders like Tata Pay and Razorpay, expanding its role in the burgeoning digital payment landscape. Zomato Payments was established to conduct business […]
Data released on Friday unveils a challenging economic scenario for India as the year concluded, with a simultaneous slowdown in industrial output and a notable spike in inflation. The statistics, revealed by the Ministry of Statistics and Programme Implementation, indicate that industrial output growth plummeted to an eight-month low of 2.4 per cent in November. […]
The Reserve Bank of India (RBI) took stringent measures against Dhanlaxmi Bank, Punjab and Sind Bank, and ESAF Small Finance Bank, imposing monetary penalties for various non-compliances, on 12 January. The penalties were issued based on identified deficiencies in regulatory compliance, emphasising the need for financial institutions to adhere to prescribed guidelines. Dhanlaxmi Bank faced […]
India’s retail inflation rose to 5.69 per cent in December which is marginally higher than 5.5 per cent in the previous month, states data released by the Ministry of Statistics and Programme Implementation (Mospi). It should also be noted that inflation, measured by the Consumer Price Index (CPI) has remained within the Reserve Bank of […]
The Indian economy is expected to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy, the National Statistics Office said on Friday. However, these are early projections for 2023-24. Improved data coverage, actual tax collections, expenditures incurred on subsidies, and data revisions made by source agencies would have a […]
The Reserve Bank of India (RBI) has extended the deadline for the implementation of a new penal charges regime by three months from 1 January 2024 to 1 April 2024. This extension applies to new loans, while existing loans must be switched to the new penal regime by 30 June 2024. It is important to […]
High-profile acquisitions, Apple’s foray and the blend of online and offline experiences redefine India’s retail landscape in 2023 As 2023 concluded, the retail landscape experienced substantial changes where high-profile acquisitions and divestments were seen reshaping the corporate landscape. With the arrival of tech giant Apple in India, the direct-to-consumer (D2C) platforms and brands embracing the […]
India’s manufacturing sector concluded 2023 with a somewhat uncertain outlook as factory growth decelerated to an eighteen-month low in December, revealed by a business survey released on Wednesday. The HSBC India Manufacturing Purchasing Managers’ Index, produced by S&P Global, dipped to 54.9 in December from November’s 56.0. Nevertheless, the index remained above the 50-mark, indicating […]
The Reserve Bank of India (RBI) on Monday said that 97.38 per cent of the Rs 2000 banknotes in circulation as of 19 May 2023 have been returned. The latest data reveals that the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore as of 19 May 2023, when the […]
