RBI reveals no Rs 2,000 note printed this year as NIA says high quality fake currency has resurfaced - Scroll
The Reserve Bank of India has stopped printing Rs 2,000 currency notes, The New Indian Express reported on Monday citing a Right To Information response. The Bharatiya Reserve Bank Note Mudran has not printed a single Rs 2,000 note this financial year.
Indians left with less money to spend after demonetisation; per capita income growth at 5-year low - Samrat Sharma, Financial Express
The downturn in economic growth has also hit the growth of individuals’ average income in India, forcing people to squeeze budgets. The per capita net national income grew at a meagre 5.6 per cent in the last financial year, which was at a 5-year low, according to RBI. The growth rates of per capita GDP and of net disposable income have also plummeted in the post-demonetisation years.
IMF explains why India's Economic growth is 'much weaker than expected' - NDTV
International Monetary Fund or IMF on Thursday said that India's economic growth is "much weaker" than expected due to corporate and environmental regulatory uncertainty and "lingering weakness" in some non-bank financial companies.
Supporting growth will remain RBI’s top priority, show minutes - Gopika Gopakumar, Mint
Members of the Reserve bank of India's Monetary Policy Committee at its rate review held on 7 August have agreed that supporting growth will remain their top priority in the midst of inflation remaining stable within the next one year, according to the minutes of the meeting released on Wednesday.
Airtel declares broadband war on Jio - Kalyan Parbat, Economic Times
Bharti Airtel is pulling out all stops to take on Mukesh Ambani-led Reliance Jio Infocomm’s home broadband offerings. Come September, the Sunil Mittal-led telco will bundle a customised Android-based smart set top box (STB) to deliver converged digital entertainment and fast broadband services, aimed at matching JioFiber’s upcoming offerings.
Banks on rate cutting spree on nudge from RBI - Shayan Ghosh, Mint
Public sector banks have started reducing their marginal cost of funds-based lending rate (MCLR) following the Reserve Bank of India’s (RBI) decision to lower its repo rate by an unconventional 35 bps on 7 August.
Airtel readies battle plan to ride out the Jio storm - Navadha Pandey, Mint
Earlier this month, Reliance Jio dethroned Bharti Airtel as the number two operator in terms of subscriber base. Jio has also became the number one operator by revenue in less than three years of operations, surpassing Vodafone Idea in the June quarter.
Reviving sentiment could be key to battling economic slowdown - Roshan Kishore, Hindustan Times
High-frequency economic indicators suggest that the current economic slowdown is likely to worsen. The core-sector industry index grew just 0.2% in June. India’s biggest car maker Maruti Suzuki reported a 36% annual decline in car sales for the month of July. The stock market has gone into a tailspin after the budget was unveiled on July 5.
Surcharge hike: Will the rich outsmart the taxman? - Sugata Ghosh, Economic Times
The super-rich in India are racking their brains to figure out ways to soften the blow dealt by New Delhi’s decision to impose a stiff surcharge on their income tax. Many business families that hold their assets under local private trusts — entities that are hit as severely as several FPIs and wealthy salaried individuals — are exploring options such as changing the character of the trust or housing the assets in limited liability partnerships (LLP) which have to pay less tax.
Govt in talks with foreign lenders to boost small businesses - Financial Express
India’s government is in talks with foreign lenders to provide as much as $14.5 billion in credit to millions of its small firms, two officials said, in a sign, the country’s banking system may not be robust enough to do the job on its own.
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