Clipped from: https://www.deccanherald.com/business/business-news/centre-lines-up-banks-others-for-e-commerce-scheme-to-take-on-amazon-walmart-1114391.html Indian e-commerce was worth more than $55 billion in gross merchandise value in 2021 and will grow to $350 billion by the end
Category: ART
*Eurozone inflation hits record 8.1 per cent amid rising energy costs – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/world/eurozone-inflation-hits-record-81-per-cent-amid-rising-energy-costs/article65481339.ece Soaring prices are weighing on household finances London, May 31 Eurozone inflation hit a record 8.1 per cent in May amid surging energy
Despite export ban, FCI procures only 6 lakh tonnes of wheat – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/agri-business/despite-export-ban-fci-procures-only-6-lakh-tonnes-of-wheat/article65481038.ece Despite the Centre banning wheat exports from May 13, the Food Corporation has not been able to muster enough of the grain for
*Will back Fed on inflation by cutting on demand: US President Joe Biden | Business Standard News
Clipped from: https://www.business-standard.com/article/international/will-back-fed-on-inflation-by-cutting-on-demand-us-president-joe-biden-122060100059_1.html Biden said his “predecessor demeaned the Fed, and past presidents have sought to influence its decisions inappropriately during periods of inflation. I won’t
*Mudra loans worth Rs 36,578 cr sanctioned to 5.4 mn borrowers in April-May | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/mudra-loans-worth-rs-36-578-cr-sanctioned-to-5-4-mn-borrowers-in-april-may-122053101011_1.html A total of Rs 19.22 trillion loans have been sanctioned to 353 million borrowers under the scheme in seven years since inception About
*Credit offtake remains robust in April across sectors, shows RBI data | Business Standard News
lipped from: https://www.business-standard.com/article/finance/credit-offtake-remains-robust-in-april-across-sectors-shows-rbi-data-122053101547_1.html Loans to medium-sized industries gerew 53.5% this April as compared with 44.8% a year ago Illustration: Ajay mohanty Building on the momentum in
*IMF may lower India’s GDP growth projection for 2022 to below 8.2% | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/imf-may-lower-india-s-gdp-growth-projection-for-2022-to-below-8-2-122053101281_1.html The IMF had cut India’s gross domestic product (GDP) growth projection for 2022 to 8.2 per cent from 9 per cent in its
*India’s per capita income remains below pre-Covid level in 2021-22 | Business Standard News
lipped from: https://www.business-standard.com/article/economy-policy/india-s-per-capita-income-remains-below-pre-covid-level-in-2021-22-122053101435_1.html However, the per capita income based on Net National Income (NNI) at constant price grew by 7.5 per cent in FY22 over the
Centre hikes premium for flagship insurance schemes as claims rise | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/centre-hikes-premium-for-flagship-insurance-schemes-as-claims-rise-122053101447_1.html Premium raised first time in seven years, will make schemes viable and encourage more private insurers to join The Centre has increased the
Govt releases Rs 86,912 cr to states, clears entire GST compensation dues | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/govt-releases-rs-86-912-cr-to-states-clears-entire-gst-compensation-dues-122053101772_1.html To meet the shortfall in GST compensation to states, the Centre said that it borrowed Rs 1.59 trillion in FY22 and Rs 1.1
*Revenue spend may be cut to limit slippage: Finance secretary TV Somanathan | Business Standard News
lipped from: https://www.business-standard.com/article/economy-policy/revenue-spend-may-be-cut-to-limit-slippage-finance-secretary-tv-somanathan-122060100031_1.html To compensate for impact of over Rs 1.5 trn on account of measures announced to rein in inflation, including cut in fuel prices
Two years on, not one Indian app within reach of TikTok’s popularity | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/two-years-on-not-one-indian-app-within-reach-of-tiktok-s-popularity-122053101159_1.html A BS analysis shows no Indian app has been able to garner as many unique visitors as TikTok did before it was banned
*****India’s GDP grows 4.1% in Q4; expands 8.7% in FY22: Govt data | Business Standard News
lipped from: https://www.business-standard.com/article/economy-policy/india-s-gdp-grows-4-1-in-q4-8-7-in-fy22-govt-data-122053101161_1.html Manufacturing sector contracts in March quarter due to supply disruptions (Photo: Reuters) India’s economy grew 4.1 per cent year-on-year in the January-March period
May sees worst FPI sell-off in over two years at Rs 44,000 crore | Business Standard News
lipped from: https://www.business-standard.com/article/markets/may-sees-worst-fpi-sell-off-in-over-two-years-at-rs-44-000-crore-122060100014_1.html The sell-off in May is also the second-highest monthly outflows recorded in the domestic market since 1993 Illustration Foreign portfolio investors (FPIs) continued their
*Excess liquidity in India’s banking system back to pre-Covid levels | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/excess-liquidity-in-india-s-banking-system-back-to-pre-covid-levels-122060100018_1.html A section of the market sees further liquidity tightening measures from the RBI in the June review of the monetary policy Imaging: Ajay
*Axis Bank Aims for the Top Spot – BusinessToday
Clipped from: https://www.businesstoday.in/magazine/editors-note/story/axis-bank-aims-for-the-top-spot-335400-2022-05-27 After acquiring the consumer banking business of Citi, Axis has its eyes firmly set on becoming No. 2 among private sector banks by
*****Warning that wasn’t: UIDAI was right to flag indiscriminate collection of Aadhaar data. It should mandate stronger measures
Clipped from: https://timesofindia.indiatimes.com/blogs/toi-editorials/warning-that-wasnt-uidai-was-right-to-flag-indiscriminate-collection-of-aadhaar-data-it-should-mandate-stronger-measures/ TOI Edit Times of India’s Edit Page team comprises senior journalists with wide-ranging interests who debate and opine on the news and issues
*Shanghai port to be back in action from June 1 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/shanghai-port-to-be-back-in-action-from-june-1/article65479947.ece This will enhance the availability of containers for global trade It’s good news for the global supply chain as Shanghai, which has the
*FPIs remain net sellers for eighth consecutive month; pull out close to ₹40,000 crore in May – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/fpis-remain-net-sellers-for-eighth-consecutive-month-pull-out-close-to-40000-crore-in-may/article65480144.ece Experts say though reversal inflow unlikely in the short term, pace of outflow will slow down Foreign investors ended up as net sellers
Shanghai to fully restore normal production, living order from Wednesday | Business Standard News
Clipped from: https://www.business-standard.com/article/international/shanghai-to-fully-restore-normal-production-living-order-from-wednesday-122053100902_1.html Shopping malls, supermarkets, convenience stores, pharmacies and other commercial outlets will resume offline business from Wednesday, with the total visitor flow capped at