April CPI inflation to slip to 3.2% from 3.8% March: BofA-ML

April CPI inflation is expected to slip to 3.2 per cent from 3.8 per cent in March, well within the RBI's 2-6 per cent target, says a Bank of America Merrill Lynch (BofA-ML) report according to the PTIl According to the global financial services major, food prices are likely to fall on a good summer rabi harvest and this in turn is expected to bring CPI inflation down.

"We ex

Prospects for bad loan clean-up at Indian banks improving, says Fitch

Recent regulatory actions in India suggest the authorities are making a more concerted push to tackle banks' bad loan problems, says Fitch Ratings. The agency said that it believes that asset resolution will be a dominant theme in the sector over the next few years.

In the short term, this is likely to create provisioning costs that will mean continued pressure on bank profits, an

EC launches national contact centre

The Election Commission has added another feather to its cap with the launch of National Contact Centre with a toll-free No. 1800111950. Now any citizen from any part of the country can call on the toll-free in English or Hindi with any query or complaint at any time of the day, said an official statement.

Callers can enquire on subjects such as elections, voting dates, EPIC, electora

Rajnath launches mobile App for grievances redressal of CAPF personnel

Union Home Minister Rajnath Singh has launched the Home Ministry (MHA) mobile application for grievance redressal of the Central Armed Police Forces (CAPFs) personnel. "The CPAFs are one of the most disciplined forces.

If they are disciplined, this does not mean that they do not have emotions. They also have some personal problems and the system keeps on resolving their problems

Yogi, NITI Aayog plan to double farmers' income, draw investments

Government think-tank NITI Aayog would partner with the Uttar Pradesh government to double the income of farmers and to create more livelihood and investment opportunities in the state, a statement said on Thursday.

It added that a Joint Working Group (JWG) comprising of three representatives each from the NITI Aayog and the state government would be set up.

The JW

India amongst top investment destinations: WTCA CEO

The's government's initiatives like 'Make in India' and 'Smart Cities' have strengthened India's economy which has now become one of the top investment destinations, the chief of World Trade Center Association (WTCA) said on Thursday.

"The current government has taken a slew WTCAof initiatives to propel the economic growth of the country. These in

Allow exporters to pay GST on transactions through e-currency: FIEO

With sections in the export sector apprehensive about their liquidity taking a hit if inputs needed for exports come under the ambit of the proposed Goods and Service tax, an apex trade body on Thursday suggested that exporters be allowed to pay GST on transactions through e-currency.

Federation of Indian Export Organisations President Ganesh Kumar Gupta suggested that the GST Co

Gadkari invites investors to India`s infrastructure sector

Union Minister Nitin Gadkari on Thursday invited global investors to participate in the development of India's infrastructure sector.

The Minister of Road Transport and Highways and Shipping said this in his address to the London Stock Exchange (LSE) after "opening the market for trading".

In his address to the world's largest Sovereign Wealth Fun

India's April retail inflation seen easing to three-month low

By Manoj Kumar

NEW DELHI  India's consumer inflation is expected to have eased to a three-month low in April, helped by smaller rises in food prices, but with a summer rebound in prospect the Reserve Bank of India (RBI) is likely to keep interest rates on hold.

The RBI's Monetary Policy Committee (MPC), which has a mid-term inflation target of 4

Rating agencies undermine India`s growth story: Chief Economic Advisor

Chief Economic Advisor (CEA) Arvind Subramanian on Thursday slammed the international rating agencies for maintaining India's rating at BBB- despite improvement in economic fundamentals such as inflation, growth and current account performance.

"In recent years, rating agencies have maintained India's BBB- rating, notwithstanding clear improvements in our economic fundame

Registration for GST enrolment to re-open on June 1

The revenue department said that 60.5 lakh entities have enrolled themselves with the GSTN system and for the remaining tax payers it will reopen for 15 days from June 1, reported PTI.

The process to enrol taxpayers on the Goods and Services Tax Network (GSTN) portal was suspended on April 30. The government intends to roll out the Goods and Services Tax from July 1. "As on April

Falling food prices to help RBI deliver rate cut in August: BofA-ML

A fall in food inflation in May, better monsoon prospects and the ongoing rupee appreciation lowering inflation will help the Reserve Bank to deliver a 0.25 per cent rate cut in August, a BofA-ML report said as per the PTI.

Acknowledging that it is a "contrarian call", analysts at Bank of America Merill Lynch (BofA-ML) said daily data show that food inflation has continued t

India, US discuss maritime cooperation in Asia-Pacific

Top Indian and American officials have exchanged views on maritime developments in the Asia-Pacific and Indian Ocean Region and discussed steps to further strengthen bilateral maritime security cooperation.

They discussed ways to strengthen cooperation during a two-day India-US Maritime Security Dialogue in Rhode Island. The officials reviewed the implementation of decisions taken at

Asian LSI drops for fifth month in a row in April: Moody`s

Moody's Investors Service, a global rating agency, has said that its Asian Liquidity Stress Index (Asian LSI) has fallen for a fifth consecutive month, registering 25.4 per cent in April 2017 from 26.8 per cent in March 2017.

Moody's Asian LSI measures the percentage of high-yield companies with the weakest speculative-grade liquidity score of SGL-4, and increases when specula

Great potential for India Inc. to develop blue economy linkages: Ficci

The Indian industry has great potential to develop 'blue economy' linkages with the Indian Ocean Rim Association (IORA) members, a Ficci study said on Thursday.

"The study highlights the need for a balanced approach, combining imperatives for growth and sustainability. It stresses the value of public-private partnership for generating additional investment and deploy

Preview - Indian retail inflation seen easing in April on lower food prices

By Vivek Mishra

India's inflation likely cooled in April due to lower food prices, but the pullback may not give the Reserve Bank of India enough leeway to ease monetary policy anytime soon, a Reuters poll found.

Consumer price inflation is expected to have remained below the RBI's medium-term target of 4.0 percent for the sixth successive month due to lower base eff

Outrage in Kerala as SBI levies charges on ATM withdrawals

A public outcry erupted in Kerala after the State Bank of India (SBI) announced that charges would be levied on all cash withdrawals from its ATMs from June onward.

The bank's new order states that every time a SBI customer withdraws cash from an ATM a charge of Rs 25 would be levied and charges would also be levied for exchange of old and sullied notes above Rs 5,000.

RBI refuses to shares note ban process details: Reports

The RBI has said that it cannot share the details of the note ban process as it would be detrimental to the country's economic interests. The RBI said that disclosing such details may impede future economic or fiscal policies of Government of India.

As per reports, the Reserve Bank of India (RBI) was asked to provide a copy of the minutes of the meetings held in its office during

NGOs should open account in core banking format: government

The Home Ministry has said that it has asked around 5,845 organisations to open their accounts in banks having core banking facilities and furnish details for real-time access to security agencies in case of any discrepancy.

As per reports, registration of more than 10,000 NGOs have been cancelled and more than 1,300 have been denied a renewal over the last three years for various vio

One third of FDA-approved drugs had safety issues: Study

Safety issues arising for drugs already approved by the US Food and Drug Administration (FDA) appear to be quite common. A new study has found that for drugs approved between 2001 and 2010, nearly one in three had a postmarket safety event.

The study team defined postmarket safety events as those that lead to either withdrawal from the market due to safety concerns, a boxed warni

SoftBank recognises $1.4 bn losses from India investments in 2016-17

Japanese conglomerate SoftBank Group Corp (SBG) on Wednesday recognised losses of $1.4 billion in 2016-17 from its India investments -- Snapdeal and Ola.

"SBG recorded loss from financial instruments of 160,419 million Japanese Yen ($1.4 billion) in its consolidated financial statements for the fiscal year ended March 2017. This mainly resulted from recording a loss as the a

India may receive higher than predicted rainfall this year: IMD

 India may receive ahigher rainfall this year than previously predicted, a top IMD official said on Wednesday citing the weakening of the El Nino phenomenon.

India would see normal monsoon with 96 per cent of rainfall still maintained as the current forecast, and an update could only be known by the first week of June, K.J. Ramesh, Director General of India Meteorological De

` Vijay Mallya`s extradition to take 6 to 9 months more`

The extradition of liquor baron Vijay Mallya, who owes a consortium of Indian banks over Rs 8,000 crore in unpaid loans, is likely to take six to nine months more, a CBI official said on Wednesday.

This time period was indicated to the five member, joint Enforcement Directorate-Central Bureau of Investigation team that went to London for the purpose and has returned after almost

Credit growth plunges to even lower than FY17 level to 4.3%

The new fiscal year began on a sour note for bank credit growth, which slipped to 4.32 per cent in the fortnight to April 28, much lower than the 63-year low level of 5.08 per cent in fiscal 2017, the latest RBI data showed as per the PTI report. In the reporting fortnight, credit grew at an anaemic 4.32 per cent to Rs 75.45 trillion as against the Rs 72.32 trillion in the same period.

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`Real estate, construction top employment generators in April'

The construction and real estate industries are generating employment demand for skilled workforce as the sectors are gearing up for growth following the government's agenda of providing affordable housing to people, a report said as per the PTI.

While the overall talent demand was up by three per cent during April 2017, real estate posted a seven per cent rise in talent demand an