First time in many years, fixed deposit rates turn positive at 8%

First time in many years, fixed deposit rates turn positive at 8%

Image for representation purpose only. As banks’ chase for customers to collect cheap deposits is not fructifying, they are forced to offer inflation-beating real interest rates on fixed deposits now, and State-run banks led by Punjab & Sind Bank tops the chart offering 8-8.50% per annum deposit rate. Banks are forced to offer inflation-beating deposit […]

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Year in Review | Indian economy amid global headwinds

Year in Review | Indian economy amid global headwinds

Multiple headwinds at varied points of time impacted the Indian economy’s thorough economic revival in the calendar year 2022. The year started with the threat emanating from the Omicron variant which settled towards the later end of the succeeding month. This was followed by the Russian actions in Ukraine and the ensuing disturbances in global […]

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Government keeping eye on inflation: Nirmala Sitharaman in Rajya Sabha

Government keeping eye on inflation: Nirmala Sitharaman in Rajya Sabha

Finance Minister Nirmala Sitharaman speaks in the Rajya Sabha during the Winter Session of the Parliament, in New Delhi, on December 21, 2022. | Photo Credit: PTI Finance Minister Nirmala Sitharaman on December 21 said the government is keeping an eye on inflation which is purely “extraneous” nowadays because of the fuel and fertilizer prices. […]

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Rupee declines 20 paise to 82.71 against U.S. dollar in early trade

Rupee declines 20 paise to 82.71 against U.S. dollar in early trade

A customer hands Indian currency notes to an attendant at a fuel station in Mumbai. | Photo Credit: Reuters The rupee depreciated 20 paise to 82.71 against the U.S. dollar in early trade on Tuesday due to unabated foreign fund outflows from domestic capital markets. However, a positive trend in equity markets and a weak […]

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Retail inflation cools to 6.77% in October from 7.41% in September

Retail inflation cools to 6.77% in October from 7.41% in September

A scene at wholesale vegetable market Azadpur Mandi, in New Delhi. File | Photo Credit: Sushil Kumar Verma India’s retail inflation cooled to 6.77% in October from 7.41% in September, slipping below the 7% mark for the first time in three months and only the second time since April’s eight-year high mark of 7.8%. This […]

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Inflation accelerates to 7.41% in September 2022, highest since April

Inflation accelerates to 7.41% in September 2022, highest since April

September food inflation quickens sharply to 8.41%, the steepest level in 22 months; economists warn that the negative surprise could spur more rate increases from the Reserve Bank of India September food inflation quickens sharply to 8.41%, the steepest level in 22 months; economists warn that the negative surprise could spur more rate increases from […]

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Retail inflation inches up to 7% in August led by food price rise

Retail inflation inches up to 7% in August led by food price rise

India’s retail inflation touched 7% in August, up from 6.71% in July, fuelled by a 7.62% pick-up in food prices paid by consumers, even as industrial production growth in July had dropped to the lowest level since April at just 2.4%, with output levels dropping 2.75% month-on-month.   This is the eighth successive month that retail […]

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