India’s diesel exports hit by China, South Korea! India’s diesel exports to Asia saw a significant decline of 63% in March compared to the previous month. This drop was because of tough competition from Chinese and South Korean suppliers, which affected profit margins. Indian refiners shipped 61,000 barrels per day (bpd) of diesel to Asian…
India to soon have ‘One Airspace’: India is moving forward with a plan to streamline its airspace management to enhance efficiency and reduce emissions. The initiative aims to consolidate control over the airspace spanning 2.8 million square nautical miles, currently divided into four regions, under a unified command center in Nagpur. The aim is to…
War of Words! Krishnamurthy Subramanian, the Executive Director at the International Monetary Fund has said that the IMF’s GDP growth forecasts for India have been consistently ‘INACCURATE’. In contrast, he claimed that his predictions of India’s GDP growth have been accurate. The issue stems from IMF spokesperson Julie Kozack recently stating that Krishnamurthy Subramanian’s 8%…
MUMBAI: Zee Entertainment Enterprises will be rationalising its workforce by 15%, its latest move to reduce costs after the cancellation of a merger deal with Sony India. It did not specify the exact number of employees who would be affected by the rationalisation. Three days ago, its MD Punit Goenka said he will take a…
MUMBAI: RBI has allowed non-banks to issue wallets for the central bank digital currency, also known as eRupee. RBI has also launched “programmable CBDCs”, which will be issued to farmers for restricted usage of buying farm inputs, a move which may pave the way for fertiliser subsidies to be routed through this mechanism.For example, govt…
Mumbai: RBI‘s monetary policy committee on Friday decided to keep interest rates on hold for the seventh successive meeting, stating that “growth has surpassed all projections but cautioned that food price uncertainties continue to weigh on the inflation trajectory going forward”. RBI governor Shaktikanta Das said, “Two years ago, when inflation was at its peak…
New UPI features: RBI governor Shaktikanta Das on Friday announced two new features or measures for Unified Payments Interface (UPI) users, with an aim to enhance ease of transactions and cash deposits. The new announcements were made by Shaktikanta Das as a part of RBI’s monetary policy statement.The two new UPI features allow users to…
NEW DELHI: Air India‘s chief, Campbell Wilson, on Friday informed employees in his recent message that the airline is in the process of finalizing numbers for the annual appraisal, effective from April 1. Wilson indicated that the news regarding appraisals will be shared with the staff once all necessary steps are completed in the upcoming…
UPI Access for Prepaid Payment Instruments (PPIs) through Third Party App: The Reserve Bank of India (RBI) governor Shaktikanta Das on Friday announced in his monetary policy committee (MPC) statement that individuals can now use prepaid payment instruments like digital wallets to make payments via UPI through third-party apps. RBI Governor Shaktikanta Das highlighted that…
RBI Monetary Policy Meeting: “The elephant has now gone out for a walk,” said RBI governor Shaktikanta Das as part of his monetary policy statement. So what did Shaktikanta Das mean and what is this elephant that he spoke of? The Reserve Banking of India (RBI) in its first Monetary Policy Committee (MPC) meeting for…
