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The World Bank also raised its FY26 projection to 6.5%. Despite a downgraded global growth outlook, the IMF now considers India a key engine for global growth, affirming its economic significance. New Delhi [India]: The International Monetary Fund (IMF) on Tuesday revised India's growth forecast for the fiscal year 2025-26 (FY26) upward to 6.6%, a 0.2 percentage point increase from its previous estimate of 6.4%. This revision is largely due to India's strong growth momentum in the first quarter ...Read More >
Mumbai, Oct 16 (PTI) Benchmark BSE Sensex jumped by 862.23 points while Nifty closed near the 25,600 mark on Thursday, following across-the-board buying by investors triggered by a global stocks rally and US Fed rate cut hopes. The 30-share BSE Sensex jumped 862.23 points or 1.04 per cent to settle at 83,467.66 with 28 of its constituents ending higher and two with losses. During the day, it zoomed 1,010.05 points or 1.22 per cent to 83,615.48. The 50-share NSE Nifty surged 261.75 points or 1. ...Read More >
New Delhi [India], October 16 (ANI): Reserve Bank of India (RBI) Governor Sanjay Malhotra shared a brief overview of India Digital Public Platform (DPP) ecosystem on the side-lines of the Annual Meetings of the World Bank and International Monetary Fund (IMF) in Washington, D.C. According to an official statement by RBI, a High-Level Dialogue on Forging Economic Resilience through Digital Public Platforms was organised by the Reserve Bank of India on October 14, 2025, during the Annual Meetings ...Read More >
New Delhi [India], October 16 (ANI): Reserve Bank of India (RBI) Governor Sanjay Malhotra shared a brief overview of India's Digital Public Platform (DPP) ecosystem on the side-lines of the Annual Meetings of the World Bank and International Monetary Fund (IMF) in Washington, D.C. According to an official statement by RBI, a "High-Level Dialogue on Forging Economic Resilience through Digital Public Platforms" was organised by the Reserve Bank of India on October 14, 2025, during the Annual Meet ...Read More >
Mumbai, Oct 3 (PTI) India's forex reserves dropped by USD 2.334 billion to USD 700.236 billion during the week ended September 26, according to the RBI data on Friday. In the previous reporting week, the kitty had declined by USD 396 million to USD 702.57 billion. For the week ended September 26, foreign currency assets, a major component of the reserves, decreased by USD 4.393 billion to USD 581.757 billion, the data released by the RBI showed. Expressed in dollar terms, foreign currency ass ...Read More >
New Delhi: Harvard University economist Kenneth Rogoff on Wednesday said the high tariffs on several countries, including India, and the steep H-1B visa fee hike imposed by the Trump administration will hold back the US economic growth. US President Donald Trump's decision to increase the application fee for H-1B visas is expected to impact Indian nationals, who accounted for almost 70 per cent of all such visas issued in the last few years. "The new visa rules were done in a very haphazard ma ...Read More >
KOLKATA: India's external debt rose by 1.5%, or $11.2 billion, in the first quarter to $747.2 billion in this fiscal year, central bank data showed. More than 93% of the debt is covered by the country's foreign-exchange stockpile. On a year-on-year basis, external debt increased by 9.6%, from $681.5 billion in the year-ago period. The external debt to GDP ratio, however, moderated to 18.9% from 19.1% three months ago. The ratio of India's international assets to international liabilities also ...Read More >
Reacting to US President Donald Trump's 20-point Gaza peace plan, Israeli ambassador Reuven Azar, in an exclusive conversation with CNN-News18's Zakka Jacob, said he hoped that Hamas would accept it. He also thanked PM Narendra Modi for extending his support to the plan, saying India has a lot to offer in reconstruction of post-war Gaza. "We don't have assurances that Hamas will do that. But we have several new elements that we haven't seen in the past. First of all, there is a clear plan and a ...Read More >
New Delhi, September 30: Israeli Ambassador to India Reuven Azar on Tuesday expressed gratitude to Prime Minister Narendra Modi for backing the US-led peace plan aimed at ending the conflict in Gaza, and urged more countries to support the initiative. The announcement came a day after US President Donald Trump unveiled his 20-point peace plan at the White House in the presence of Israeli Prime Minister Benjamin Netanyahu. Addressing a press conference in New Delhi, Azar described the developmen ...Read More >
Chandigarh: Equating Punjab's financial situation with countries like Pakistan, Sri Lanka, Bangladesh, and Nepal, which he said went bankrupt and approached the International Monetary Fund (IMF) seeking help, the BJP leader and former finance minister of Punjab, Manpreet Singh Badal, on Monday said instead of approaching the Centre for financial assistance, the Bhagwant Mann-led govt was a adopting a "confrontational" approach.Speaking during the mock session of Punjab vidhan sabha, organised by ...Read More >
New Delhi, Sep 29 (SocialNews.XYZ) The Union government on Monday appointed Shirish Chandra Murmu as a Deputy Governor of the Reserve Bank of India for a tenure of three years. Murmu's appointment was approved by the Appointments Committee of the Union Cabinet and would come into effect from October 9. He will replace M. Rajeshwar Rao, whose extended service is set to end on October 8. Currently, he is serving as Executive Director at the RBI, looking after the Department of Supervision. As p ...Read More >
New Delhi, Sep 26 (PTI) The ties between India and Sri Lanka have reached a point of "unprecedented excellence" since President Anura Kumara Dissanayake's visit to India and Prime Minister Narendra Modi's visit to Sri Lanka, the island nation's envoy Mahishini Colonne said on Friday. Interacting with PTI Videos on the sidelines of an event here, she said Sri Lanka is on the "path of recovery", the economy has been stabilised, and necessary structural reforms have been brought in to sustain it. ...Read More >
The dip marks a reversal from last week. Reserves had risen by $4.698 billion to $702.966 billion in the week ended Sept 12. India's foreign exchange reserves fell by $396 million to $702.57 billion for the week ended September 19, according to Reserve Bank of India (RBI) data released on Friday. In the previous week, reserves had risen by $4.698 billion to $702.966 billion. Foreign currency assets, the largest component of the reserves, declined by $864 million to $586.15 billion. The figure ...Read More >
Mumbai, Sep 26 (PTI) India's forex reserves dropped by USD 396 million to USD 702.57 billion for the week ended September 19, according to the RBI data. In the previous reporting week, the overall reserves had jumped by USD 4.698 billion to USD 702.966 billion. For the week ended September 19, foreign currency assets, a major component of the reserves, decreased by USD 864 million to USD 586.15 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets ...Read More >
With uncertainty becoming a defining feature of the global landscape, the role of banks has become much more critical not just as custodians of savings but also as engines of growth, Finance Minister Nirmala Sitharaman said on Thursday. She noted that financial institutions play a crucial role in national infrastructure building and banks must maintain strong balance sheets to fund significant investments, meet the demand for credit, and provide innovative financial products and capital expendit ...Read More >
New Delhi, Sep 23 (SocialNews.XYZ) The Organization for Economic Cooperation and Development (OECD) on Tuesday raised India's GDP growth by 40 bps to 6.7 per cent in 2025 from its earlier projection of 6.3 per cent in June -- driven by strong domestic demand and robust GST reforms. The OECD's latest 'World Economic Outlook' mentioned that in India, higher tariff rates will weigh on the export sector, but overall activity is anticipated to be supported by monetary and fiscal policy easing, "incl ...Read More >
New Delhi [India], May 16 : Sri Lanka's High Commissioner to India Milinda Moragoda had an interactive session with ... New Delhi [India], May 16 : Sri Lanka's High Commissioner to India Milinda Moragoda had an interactive session with the New Delhi-based Trade Commissioners/ Commercial Diplomats concurrently accredited to Sri Lanka today at the High Commission premises. This is part of the continued efforts to further expand engagement with the concurrently accredited Missions in New Delhi. ...Read More >
Gita Gopinath believes dollar dominance will likely continue. She cites the strength of American institutions and financial markets. During her IMF tenure, dollar dominance was a key research area. She highlights the asymmetry in global currency usage. The dollar's role impacts how economies respond to shocks. Gopinath emphasizes the importance of strong institutions for maintaining the dollar's status. Gita Gopinath, former IMF Chief Economist and Deputy Managing Director, now back again at Ha ...Read More >
New Delhi, Sep 12: India's foreign exchange reserves increased by $4.03 billion to touch $698.26 billion for the week ending September 5, according to data released by the Reserve Bank of India (RBI) on Friday. This comes after reserves had already risen by $3.51 billion in the previous week, taking the total to $694.2 billion as of August 29. Foreign Currency Assets Increase The RBI data showed that foreign currency assets (FCAs), the largest part of the reserves, went up by $540 million to ...Read More >
Mumbai, Sep 5 (PTI) India's forex reserves jumped by USD 3.51 billion to USD 694.23 billion for the week ended August 29, the RBI said on Friday. The overall reserves had dropped by USD 4.386 billion to USD 690.72 billion in the previous reporting week. For the week ended August 29, foreign currency assets, a major component of the reserves, increased by USD 1.686 billion to USD 583.937 billion, the latest data showed. Expressed in dollar terms, the foreign currency assets include the effect ...Read More >
New Delhi [India], September 2 (ANI): Waiel Awwad, West Asia Strategist and Journalist, said that the US saw the outcome of the Shanghai Cooperation Organisation (SCO) Summit as against its hegemony, and the US recognised its importance. Awwad, while talking to ANI, said that US President Donald Trump, therefore, sought his convenience and imposed 50 per cent tariffs on India. "So therefore, the United States, under tremendous pressure of President Trump, he might have come up with this statem ...Read More >
MUMBAI: ICICI Bank has rolled back its rule requiring new savings accounts opened after Aug 1 to maintain a monthly average balance (MAB) of Rs 50,000 and has revised the threshold to Rs 15,000. The move follows a social media backlash against the higher balance requirement, which was criticised for making banking exclusive.The bank said it has revised its schedule of charges and MAB requirements following customer feedback. The changes do not apply to salary accounts, senior citizens above 60 y ...Read More >
Sri Lankan MP Harish Silva urged lawmakers not to mock India over its trade dispute with the US, recalling that India had helped Sri Lanka in its time of need. Sri Lankan parliamentarian Harish Silva has urged fellow lawmakers to be respectful towards India amid its ongoing tensions with Washington over US tariff rates. Speaking during a debate on the impact of US tariffs, Silva said, "Let's not talk about the US tariffs here. Don't laugh at India. Don't mock them when they are down because wh ...Read More >
New Delhi: In what many are calling a masterclass in diplomatic manipulation, Pakistan's Chief of Army Staff Field Marshal Asim Munir returned from the United States with a basket of concessions that critics say not only embolden Islamabad's anti-India agenda but also expose America's dangerous willingness to overlook hard truths for short-term geopolitical gains. Cloaked in the language of "bilateral cooperation", the visit has delivered a series of outcomes that tilt heavily in Pakistan's fav ...Read More >
A PHDCCI study indicates that the US tariffs, expected to take effect on August 7, 2025, will have a limited impact on India's GDP. The study estimates a potential USD 8.1 billion impact on exports, affecting sectors like engineering goods, gems, and garments. PHDCCI recommends measures like market diversification and joint ventures to mitigate the effects. The 25 per cent tariffs on Indian goods announced by US President Donald Trump will have "negligible" impact on the country's GDP as only U ...Read More >
New Delhi: India's trade resilience remains strong despite the 25% tariff imposed by US President Donald Trump on Indian goods, with the country's broader export base and strong domestic fundamentals helping buffer the shock, industry body PHD Chamber of Commerce and Industry (PHDCCI) said. A white paper released by the industry body estimates that while the tariff will affect around $8.1 billion worth of exports to the US, the overall impact on India's economy is expected to be limited, with a ...Read More >
Despite US President Trump's "dead economy" remark, international agencies like the IMF project India as the fastest-growing major economy. Experts highlight India's dynamic economy, youthful population, and technological prowess, attracting foreign investment and talent. The IMF commends India's prudent policies and forecasts strong growth for 2025 and 2026, supported by other global institutions. With leading international agencies, including IMF, continuing to project India as the fastest-gr ...Read More >
Lucknow (Uttar Pradesh) [India], August 3 (ANI): Uttar Pradesh Chief Minister Yogi Adityanath is closely monitoring the flood situation in Uttar Pradesh, issuing timely directives to ensure effective relief efforts. Acting on his instructions, state ministers are inspecting affected areas, while Relief Commissioner Bhanu Chandra Goswami informed that floods have impacted 37 tehsils and 402 villages, affecting 84,392 people. Of these, 47,906 have received assistance, and 2,759 animals have been ...Read More >
Mumbai (Maharashtra) [India], August 3 (ANI): Union Minister Hardeep Puri and Maharashtra Chief Minister Devendra Fadnavis on Sunday said the country economy is strong, steady, resilient and its growth story continues. These affirmations come after Congress leader Rahul Gandhi in a X post on Thursday echoed US President Donald Trump view that the Indian economy was dead, and targeted Prime Minister Narendra Modi. The Maharashtra Chief Minister attached the latest IMF World Economic Outlook rep ...Read More >
New Delhi: The BJP on Sunday, August 3, hit back at US President Donald Trump's controversial "dead economy" comment on India, using IMF data to showcase strong economic growth and taking a sharp dig at Congress MP Rahul Gandhi for "agreeing" with the remark. BJP IT cell chief Amit Malviya led the counteroffensive, dismissing the criticism as "politically motivated and factually baseless". BJP Cites IMF Report, Mocks Rahul Gandhi for Endorsing Trump Sharing the latest World Economic Outlook u ...Read More >
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