Economy & Policy

West Bengal tightens restrictions till May 30 to contain COVID-19

Informist, Saturday, May 15, 2021 KOLKATA – The West Bengal government today tightened curbs to contain the spread of the COVID-19 pandemic, thereby bringing the state to nearly a lockdown like situation for 15 days starting Sunday. "Stricter restrictions and measures are being brought in to control the spread of the virus and...

Big ticket divestments unlikely before Sep due to COVID second wave

Informist, Wednesday, May 12, 2021 --Govt source: 2nd wave of COVID-19 may delay big-ticket divestment--Most FY22 H1 divest likely to be minority stake sale By Sagar SenNEW DELHI – The government's ambitious divestment plan, including privatisation of Bharat Petroleum Corp Ltd and Air India, is likely to be pushed to the second half of the current...

Favourable base distorts data as CPI, IIP post big improvements

Informist, Wednesday, May 12, 2021 NEW DELHI – The growth-inflation mix has never been better for India, with data released today showing CPI inflation cooled to 4.29% in April and industrial production jumped 22.4% in March. Of course, the improvement is purely statistical in nature, with favourable base effects distorting the data....

Sponsoring alternate invest fund abroad to be counted overseas invest

Informist, Wednesday, May 12, 2021 MUMBAI – The Reserve Bank of India today said that any contribution from a sponsor Indian party to an alternative investment fund, set up in an overseas jurisdiction including International Financial Services Centres in India, will be treated as an overseas direct investment. Accordingly, a sponsor Indian party can set up...

Birla Corp posts 28% on-year increase in Jan-Mar consol net profit

Informist, Wednesday, May 12, 2021 KOLKATA – Benign finance costs and increase in sales volume, backed by tax credit, helped Birla Corp Ltd post a 28% on-year increase in its consolidated net profit at 2.49 bln rupees for the quarter ended March. The net profit in the corresponding period of the last...

NSO holds last-gasp meetings on imputed CPI, but changes unlikely

Informist, Tuesday, May 11, 2021 By Pragya Srivastava --Govt source: NSO unlikely to change imputed CPI for Apr, May 2020--NSO likely to discuss imputed CPI numbers again today NEW DELHI – The National Statistical Office is holding last-minute meetings on the Consumer Price Index for April and May 2020 to address concerns raised by the...

RBI sets interest rate at 3% for unclaimed deposit with banks

Informist, Tuesday, May 11, 2021 MUMBAI – Effective today, banks have to pay claimants 3% interest on unclaimed deposits transferred to the Depositor Education and Awareness Fund, the Reserve Bank of India said in a notification.As per central bank norms, all banks must transfer money lying in accounts that have been inoperative for...

Informist Poll: Low base may propel Mar industrial growth to 18.0%

Informist, Monday, May 10, 2021 NEW DELHI – India's industrial output is expected to have risen 18.0% in March, thanks to the statistical effect of a low base, according to the median of estimates of 19 economists polled by Informist. Industrial production slumped 18.7% in March last year due to weak demand and...

RBI appoints Jose Kattoor as executive director effective from May 4

Informist, Monday, May 10, 2021 NEW DELHI – The Reserve Bank of India has appointed Jose Kattoor as executive director with effect from May 4, the central bank said in a press release today. He will take charge of the human resource management department, corporate strategy and budget department and Rajbhasha department. Before being elevated...

RBI issues norms for authorising pvt bks to conduct govt businesses

Informist, Monday, May 10, 2021 MUMBAI – The Reserve Bank of India today notified the revised guidelines for the private sector banks to operate as agency banks for conducting transactions of the government businesses. An agency bank is a bank that acts as an agent of the RBI to implement government schemes and programmes. In...


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