India’s central bank is poised to deliver its fourth successive quarter-point interest rate cut on Wednesday, amid calls from investors and the government for further easing as a slowdown gripping the economy becomes more pervasive.
The Reserve Bank of India (RBI) on Monday said it has imposed a collective penalty of Rs 8.5 crore on eleven commercial banks for violating norms on fraud classification and reporting by commercial banks and selected financial institutions (FIs).
CRISIL Research expects India’s specialty chemicals industry — including dyes and pigments, and agrochemicals — to log robust growth this fiscal year as the strong tailwind from China continues.
India’s commerce ministry has reportedly circulated a cabinet note to phase out the Merchandise Exports from India Scheme (MEIS) and shift to a regime more compatible with the World Trade Organisation (WTO), as many nations have challenged India’s export ‘subsidy’ schemes.
Rajkot/Surat: The rollback of Merchandise Export from India Scheme (MEIS) will hit the textile sector in Gujarat hard, as the sector is already facing slowdown due to the implementation of the goods and service tax (GST).
Ram Mohan Mishra, Additional Secretary and Development Commissioner, Ministry of MSME, while speaking at an industry seminar batted for public-private-partnership (PPP) models between government and industry in order to mitigate credit risk factor for MSMEs, reported KNN India.