Indian economy to grow at 7.2%, inflation high at 6.7%, projects RBI

The Reserve Bank of India (RBI) on Wednesday projected that the country’s economy will grow at 7.2 per cent in the Financial Year 2022-23. The central bank has increased its inflation forecast to 6.7 per cent for the current fiscal year. The RBI has kept the real gross domestic product (GDP) growth forecast for…

RBI allows UPI payment via credit card: How to link credit card with payment apps

The Reserve Bank on Wednesday allowed credit cards to be linked with the unified payments interface (UPI), which will enable more people to make payments using the popular platform. “it is proposed to allow linking of credit cards to UPI,” RBI Governor Shaktikanta Das said while announcing the regulatory…

GDP growth explained: Indian economy grew but cloud of uncertainty looms

The Indian economy has grown, braving the covid pandemic and the ongoing Russia-Ukraine conflict that led to global inflation. However, the road ahead will not be a rosy one for the government as the cloud of price rises is looming large. The economic growth of India slowed to the lowest in the financial year 2021-22…

Sun Pharma share price: Why did stocks of India’s top pharmaceutical firm fall?

Sun Pharmaceutical’s share price fell on Tuesday after India’s biggest pharmaceutical company logged a consolidated net loss. The Sensex and Nifty also plunged ahead of key economic data. The Sensex was down by 0.35 per cent or 193.94 points at 55,731.80 and the Nifty fell 0.26 per cent or 43.95 points at…

Sensex rises over 600 points, Nifty up over 16,300 | Top gaining shares

Sensex and Nifty settled over 1 per cent higher on Friday, led by gains in information technology stocks, as strong the US retail earnings outlook and waning concerns about overly aggressive interest rate hikes by central banks lifted sentiment globally. The NSE Nifty 50 index settled up 1.13 per cent or 182.30 points…

India has no plans to curb rice exports as local supplies surge – Report

The Centre has no plan to curb rice exports as the world’s biggest exporter of the staple has sufficient stocks and local rates are lower than state-set support prices, Reuters reported, quoting trade and government sources. India banned wheat exports on May 14, just days after New Delhi forecast record shipments…

Centre to sell its entire stake in Hindustan Zinc, claim sources

The union cabinet has cleared the selling of the government’s remaining stake in Hindustan Zinc, according to sources. Currently, the government owns a 29.5 per cent stake in Hindustan Zinc. The stake sale by the government is likely to fetch Rs 36,000 crore. The Supreme Court had on November 18 last year allowed…

Bitcoin price falls below $30,000, major cryptocurrencies in red

Bitcoin and other major cryptocurrencies struggled on Tuesday as the effects of the Terra collapse will continue to impact investors’ sentiments, according to Coindesk. Major cryptocurrencies were trading in the red amid investors’ fears about inflation and a possible recession since central banks have…

Indian shares rebound as auto, metal stocks rally

Gains in auto and metal stocks helped Indian shares rebound on Friday after their worst session in nearly three months, with strength in broader Asian markets underpinning the positive sentiment. The NSE Nifty 50 index was up 1.9% at 16,110.30 by 0358 GMT and the S&P BSE Sensex rose 1.37% to 53,515.97. Both the…

Wholesale inflation at record high of 15.08% in April on price rise across all items

Wholesale price-based inflation spiked to a record high of 15.08 per cent in April on rising prices across segments from food to commodities. The WPI-based inflation was 14.55 per cent in March and 10.74 per cent in April last year. Wholesale inflation is tracked by the Wholesale Price Index (WPI). It measures…