RBI cuts interest rate by 25 bps
The Reserve Bank of India(RBI) Monetary Policy Committee has unanimously cut the repo rate by 25 basis points from 6% to 5.75%. Repo stands for ‘Repurchasing Option’. Repo rate refers …
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Commerce Minister addresses meeting of Board of Trade & Council for Trade Development and Promotion
Commerce minister has addressed a joint meeting of the Board of Trade and the Council of Trade Development and Promotion.The meeting was organised by the Ministry of Commerce and Industry …
Read MoreRBI waives RTGS, NEFT charges
The Reserve Bank of India(RBI) has announced that it is removing all charges on money transfers done through the RTGS and NEFT modes.This decision was taken to boost the digital …
Read MoreBy 2025, India to have 88 mn 5G connections
According to Global telecom industry body GSMA,India will have 920 million unique mobile subscribers by 2025 which will include 88 million 5G connections. 5G (5th Generation) is a version of …
Read MoreNirmala Sitharaman to attend G-20 Finance Ministers’ meeting in Japan
Finance Minister will attend the two-day meeting of G-20 Finance Ministers and central bank governors in Japan.The deliberations at this meeting would be followed by the G-20 Leaders Summit scheduled …
Read MoreIndia’s services sector activity growth slips to 12-month low
According to Nikkei India Services Purchasers manager Index(PMI) ,services sector activity has slowed down to 50.2 in May,2019 from 51.0 in April,2019. This slowdown has happened due to disruptions arising …
Read MoreRBI study moots boost to acceptance infra for digital payments
The Reserve Bank of India(RBI) has released a report titled “Benchmarking India’s Payments Systems”.The report provides a comparative position of the payments ecosystem in India relative to comparable payments systems …
Read MoreGlobal growth to slow in 2019, says World Bank
The World Bank has released its Global Economic Prospects report, 2019.The report has forecasted that the World economy will expand 2.6% in 2019 compared with a projection of 2.9% it …
Read MoreNilekani panel suggests 24×7 RTGS, NEFT, elimination of all charges
The Reserve Bank of India(RBI) had appointed a committee headed by Nandan Nilekani to submit its suggestions on promoting digital payments. The panel has suggested several measures to encourage digital …
Read MoreManufacturing sector PMI gains in May
According to Nikkei India Manufacturing Purchasing Managers’ Index (PMI) data,manufacturing activity has improved to 52.7 in May,2019 from 51.8 in April,2019. The PMI improved as companies increased manufacturing output amid …
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