New Delhi | May 17, 2013 21:57 (IST)
Expressing surprise over S&P's threat to downgrade India's credit rating, industry bodies on Friday termed the global agency's affirming its negative outlook on the country as unfortunate and harsh.
New Delhi | May 17, 2013 20:40 (IST)
Expressing disappointment over S&P's rating action, the government said on Friday that its fiscal policies are on the right track and there is nothing to be worried about.
May 17, 2013 17:32 (IST)
Global ratings agency Standard & Poor's has affirmed its BBB minus with a negative outlook rating on India, the lowest investment grade among the BRIC group of large emerging economies. India has one in three chance of a rating downgrade in next 12 months, S&P added.
Mumbai | May 17, 2013 16:25 (IST)
Standard & Poor's expects India to grow around 6 per cent in the current fiscal year ending March 2014, said credit analyst Takahira Ogawa.
May 17, 2013 16:20 (IST)
So how exactly does S&P or any other rating agency decide the sovereign rating? Let's try to find out the answer.
Port Louis | May 17, 2013 14:57 (IST)
The 21 players in the Mauritian banking industry comprise 7 local banks, 9 foreign owned subsidiaries, one joint venture and 4 branches of foreign banks. All the banks are licensed by the Bank of Mauritius to carry out banking business locally and internationally.
Mumbai/Kolkata | May 17, 2013 14:13 (IST)
But Saradha went bust in April, wiping out as much as $3.7 billion in deposits from mostly low-income Indians, miring West Bengal's government in scandal, and illustrating the risks faced by the millions who live outside the banking system.
New Delhi | May 17, 2013 13:57 (IST)
Planning Commission Deputy Chairman Montek Singh Ahluwalia today told NDTV that the economy is back on the growth trajectory and he sees 2013-14 as the "turnaround year" for India's economy.
Washington | May 17, 2013 13:35 (IST)
India and China are expected to be the largest investors among developing countries by 2030, with the two Asian giants accounting for 38 per cent of global gross investment, a World Bank report said today.
May 16, 2013 23:25 (IST)
The U.S. economy showed fresh signs of slower growth in the second quarter, with factory activity slipping in the mid-Atlantic region while groundbreaking declined at home construction sites.
Mumbai | May 16, 2013 17:58 (IST)
In a fresh poll, seven out of 14 economists who had earlier said the Reserve Bank of India would not ease policy at a June 17 meeting now do expect a cut in the repo rate.
May 15, 2013 20:14 (IST)
The government will from June 1 roll out direct transfer of cash subsidy on cooking gas (LPG) in 20 districts as it looks to cut its subsidy outgo by up to Rs 10,000 crore annually by eliminating diversions.
May 15, 2013 17:23 (IST)
The investment bank cites lower-than-expected wholesale price inflation data on Tuesday as the reason behind its expectations of early rate cuts.
Frankfurt | May 15, 2013 16:46 (IST)
The headline wholesale inflation fell to 41-month low in April, dropping within the central bank's comfort zone of less than 5 per cent and fuelling market hopes for more monetary easing to revive sagging economic growth.
Brussels | May 15, 2013 15:22 (IST)
Falling output across the bloc, from France to Finland, meant the 17-nation economy shrank 0.2 per cent in the January to March period, the EU's statistics office Eurostat said.
Mumbai | May 15, 2013 14:56 (IST)
The principal will be indexed to the wholesale price index with a four-months lag, while the coupon will remain fixed, the central bank said.
New Delhi | May 15, 2013 14:14 (IST)
Also, the steps being taken to curb gold demand are expected to bring down the current account deficit (CAD) by 0.4-0.5 per cent of GDP in the current fiscal, he said.
Frankfurt | May 14, 2013 22:24 (IST)
Reserve Bank of India governor Duvvuri Subbarao said on Tuesday that he is "very happy" about lower headline inflation, where new figures showed it decreased more than expected.
New Delhi | May 14, 2013 17:56 (IST)
Reserve Bank of India deputy governor H.R. Khan said the central bank has allowed oil marketing companies to finance part of their short-term trade credit requirement through overseas debt.
New Delhi | May 14, 2013 16:12 (IST)
India's sagging economy will see a turnaround this fiscal year on the back of accelerating industrial production, improvement in global conditions and likelihood of good monsoon, the Planning Commission said on Tuesday.