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Interest rate on small savings schemes unchanged for January-March
Mon, Jan 02, 2017
Government has kept interest rates on small savings schemes like PPF and Kisan Vikas Patra unchanged for the January-March quarter even as banks have started lowering their deposit rates.
Here's full text of PM Narendra Modi's New Year's address to nation
Sun, Jan 01, 2017
Prime Minister Narendra Modi in his televised speech on Saturday announced a series of incentives to the poor, farmers, women and small businesses in a New Year`s address, and defended his recent decision to abolish high denomination bank notes, according to Reuters report.
PM Narendra Modi defends cash ban, announces incentives during New Year's address to nation
Sun, Jan 01, 2017
Prime Minister Narendra Modi announced a series of incentives to the poor, farmers, women and small businesses on Saturday in a New Year`s address, and defended his recent decision to abolish high denomination bank notes.
US Fed's Janet Yellen says job market strong, signs of wage growth
Tue, Dec 20, 2016
The US job market is at its strongest since the start of the financial crisis and there are signs workers will start to see the benefits in their paychecks, US Federal Reserve Chair Janet Yellen said on Monday.
Richmond Fed's Jeffrey Lacker says more than three rate hikes likely needed in 2017
Sat, Dec 17, 2016
The US Federal Reserve will likely need to raise interest rates more than three times next year and faces challenges in gradually cooling off the US economy, Richmond Fed President Jeffrey Lacker said on Friday.
Labour Ministry wants to retain 8.8% interest on EPF for FY17
Thu, Dec 15, 2016
The Labour Ministry is pitching for retaining 8.8 % interest rate on EPF deposits of over 4 crore subscribers of the retirement fund body EPFO for 2016-17 and trying to bring the Finance Ministry on board.
US Federal Reserve raises key interest rate, sees three hikes in 2017
Thu, Dec 15, 2016
The policy-setting Federal Open Market Committee voted unanimously to increase the key federal funds rate to a range of 0.5 to 0.75 percent, but repeated that the world`s biggest economy likely will require only "gradual" rate increases going forward.
US Fed set to hike rates, policy outlook now hinges on Trump presidency
Wed, Dec 14, 2016
Trump has not yet taken office, and any proposals would have to clear a Republican-controlled Congress that may be stricter about increasing public debt than Trump. In recent public appearances some Fed officials have said they see a chance Trump`s policies may force them to speed the pace of rate increases, yet also said they are hesitant to change their outlook before he shares more details.
Headed Home: Workers abandon building sites after cash crackdown
Mon, Dec 12, 2016
Hundreds of thousands of construction workers have returned home since Prime Minister Narendra Modi abolished high-denomination banknotes, leaving some building sites across the country facing costly delays.
Big banks in US could see fat payday under Donald Trump
Sun, Dec 11, 2016
After eight years of unrelenting scrutiny and billions of dollars in legal settlements, the banking industry suddenly is facing a more hospitable political climate in Washington next year.
Australia's economy slows 0.5% in September quarter as government spending falls
Wed, Dec 07, 2016
Australia`s economy contracted for just the fourth quarter in 25 years, official data showed on Wednesday, slowing the annual growth rate to 1.8% amid weaker government and consumer spending on top of softer trade figures.
Interest, tax rates to go down post demonetisation: Arjun Ram Meghwal
Sun, Dec 04, 2016
The rates of interest and tax will soon come down mainly due to the demonetisation drive of the government, Minister of State for Finance Arjun Ram Meghwal said on Saturday. "Interest rates and tax rates will soon decrease (after the demonetisation step)," Meghwal said.
US jobless rate falls to nine-year low, payrolls rise
Sat, Dec 03, 2016
The US unemployment rate fell to a nine-year low of 4.6% in November, as employers added another 178,000 jobs, making it almost certain that the US Federal Reserve will raise interest rates later this month.
Demonetisation: SBI cuts bulk deposit rates by up to 1.9%
Thu, Nov 24, 2016
Days after Prime Minister Narendra Modi signalled that rates are on the way down, State Bank of India (SBI) on Wednesday slashed bulk deposit rates by up to 1.9% taking advantage of the surge in deposits following demonetisation.
Stranded trucks, unpaid workers: India Inc counts cost of cash crunch
Mon, Nov 21, 2016
The government has acknowledged that the disruption would last weeks because of delays in note printing and technical problems with ATM machines, but Modi has made a plea for patience until Dec. 30. The government said it could not have printed new notes or recalibrated cash machines in advance for fear of the move leaking out.
Axis Bank sees reduction in lending rates post demonetisation
Sun, Nov 13, 2016
Domestic ratings agency Icra has said that it expects a 0.03-0.10 per cent dip in the cost of deposits in the near to medium term because of the surge. This reduction can be passed on to borrowers through a cut in the marginal cost of funding based lending rate.
Asia stocks, dollar wrestle with US election risk
Thu, Nov 03, 2016
Asia shares joined the US dollar on the defensive on Thursday as the nail-biting US presidential race saw the S&P 500 suffer its longest losing streak in five years as investors sailed to safer harbours.
Gold hits 1-month high as investors worry over US election
Wed, Nov 02, 2016
Gold hit a one-month high on Wednesday as investors grew more concerned over the global economic outlook and started looking for safe-haven assets on signs the US presidential election race was tightening.
Consumer demand may soar by 40% this festive season: Report
Sun, Oct 16, 2016
Rural demand is adding to the festive fervour, as good monsoon has boosted confidence among the farmers and farm labour.
Chart of the day: Retail Inflation
Thu, Oct 13, 2016
A Bloomberg poll predicts that retail inflation may have fallen to 4.60% in September 2016.