RBI Data: 16.22% Credit Surge, 12.96% Deposit Rise

  Other than hearty interest across sections, rise attached to quarter-end business likewise pushed the advance volumes in fortnight, brokers said Reflecting flood in quarter-end business, Business Bank credit extended by 16.22 percent Year on Year (YoY) premise to Rs 143.91 trillion toward the finish of fortnight finished June 30, 2023. The credit had extended by 14.4 percent YoY a year prior, as per Save Bank of India information.   Consecutively, bank loaning in outright…

"RBI Data: 16.22% Credit Surge, 12.96% Deposit Rise"

Non-Taxable Income! Charge isn’t relevant to these 5 income

The Annual Duty Division in India charges no assessment on pay acquired through specific means. Notwithstanding, it relies upon different circumstances and cutoff points. Since an opportunity to record personal assessment form is approaching, you really should know this.   Non-available pay: Each annual citizen generally searches for ways of saving personal duty. For this, he takes on different measures going from putting resources into different plans. In any case, do you have any idea…

"Non-Taxable Income! Charge isn’t relevant to these 5 income"

Oil Treads Water Ahead of OPEC+ Panel Meeting, PCE Inflation Data

Oil prices moved little on Friday and were set to end the week flat amid caution over an upcoming OPEC+ panel meeting, as well as more cues on the U.S. economy from a reading on the Federal Reserve’s preferred inflation gauge. Ministers from Algeria, Kuwait, Venezuela, Russia and Oman are set to meet virtually next week as part of a panel called the Joint Ministerial Monitoring Committee (JMMC). The panel can call for a full…

"Oil Treads Water Ahead of OPEC+ Panel Meeting, PCE Inflation Data"

Dollar Weakens in Wake of CPI Release; Yen Climbs Ahead Of BOJ

The U.S. dollar edged lower in early European trade Friday, continuing the previous session’s selloff after cooling U.S. inflation opened the way for the Federal Reserve to ease the pace of its interest rate hikes. At 03:05 ET (08:05 GMT), the US Dollar Index, which tracks the greenback against a basket of six other currencies, dropped 0.1% to 101.965, having slipped to its lowest level since June earlier in the session. The index is headed…

"Dollar Weakens in Wake of CPI Release; Yen Climbs Ahead Of BOJ"

Chinese Fret Over Infecting Elderly As Holidays Prompt COVID Warnings

People in China worried on Thursday about spreading COVID-19 to aged relatives as they planned returns to their home towns for holidays that the World Health Organization warns could inflame a raging outbreak. The Lunar New Year holiday, which officially starts from Jan. 21, comes after China last month abandoned a strict anti-virus regime of mass lockdowns that prompted widespread frustration that boiled over into historic protests. That abrupt U-turn unleashed COVID on a 1.4…

"Chinese Fret Over Infecting Elderly As Holidays Prompt COVID Warnings"

Russian oil tankers receive India’s insurance through a company in Dubai

Following the withdrawal of Western certifiers due to international sanctions against Moscow, India is now providing safety certification for dozens of ships managed by a subsidiary of the leading Russian shipping company Sovcomflot, according to official data. This has enabled oil exports to India and other countries. After insurance, certification from one of the top classification organizations in the world, the Indian Register of Shipping (IRClass), adds the final piece of documentation required to keep…

"Russian oil tankers receive India’s insurance through a company in Dubai"

As a result of the oil shock, poorer nations are wracked by shortages and demonstrations.

The oil shock this year has had the greatest impact on developing countries. Many are reliant on imported petroleum, which is being suffocated by a combination of high international costs, weak currencies, and competition from wealthy nations recovering from the pandemic. In nations where food costs are already rising, higher gasoline bills are worsening inflation. The combination is causing public anger and protests, which democratic governments know is one of the fastest ways to lose…

"As a result of the oil shock, poorer nations are wracked by shortages and demonstrations."

Non-power coal users claim supply shortage; government denies it

India’s aluminium smelters, textile mills, sponge iron and fertiliser-makers say they face a coal shortage as power generators take the bulk of supplies. India’s top miner Coal India Ltd, which accounts for more than 80% of India’s production of the fuel, and the federal coal ministry, deny there is a problem. In a letter to the Prime Minister Narendra Modi dated Feb. 7, eight industry associations including the Aluminium Association of India and Fertilizer Association…

"Non-power coal users claim supply shortage; government denies it"

India GDP estimated at Rs 147.5 lakh crore in FY22: MoS Finance Pankaj Chaudhary

India’s gross domestic product (GDP) is projected to grow at 9.2 per cent to Rs 147.5 lakh crore in 2021-22, Minister of State for Finance Pankaj Chaudhary said on Monday. In a written reply to a query in the Lok Sabha, Chaudhary said the government has implemented several major reforms in recent years to boost investment and GDP growth. “As per the first advance and first revised estimates of GDP released by the National Statistical…

"India GDP estimated at Rs 147.5 lakh crore in FY22: MoS Finance Pankaj Chaudhary"

Sri Lanka signs $500 million credit line with India to import fuel

Sri Lanka signed a $500 million credit line with India to import fuel on Wednesday, officials said, as the island nation seeks to stave off rolling power cuts amid a foreign exchange crisis that has hampered purchases of diesel for power plants. The Export-Import Bank of India (EXIM) will provide the credit line for purchasing petroleum products, India’s High Commission in Sri Lanka’s main city Colombo said on Twitter. Sri Lanka is struggling with its worst financial crisis in…

"Sri Lanka signs $500 million credit line with India to import fuel"