Wencai Zhang, Managing Director and Chief Administrative Officer of the World Bank Group | Photo Credit: R. Ragu The Global Business Centre of the World Bank Group (WBG) in Chennai stands for operational excellence and innovation, said its Managing Director and Chief Administrative Officer Wencai Zhang. Mr. Zhang was in Chennai for the reopening of […]
Continue ReadingImage for representation purpose only. File | Photo Credit: Getty Images India’s GDP is expected to moderate to 6.3%, as against earlier estimate of 6.6%, due to moderation in consumption in FY24, the World Bank said in a report on Tuesday. Growth is likely to be constrained by slower consumption growth and challenging external conditions, […]
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World Bank Presidential Candidate Ajay Banga. File | Photo Credit: AP India on March 2 extended support to the candidature of Ajay Banga as World Bank President, saying his nomination comes at a time when the multilateral lending agency is considering next-generation reforms. “Congratulations to Mr. Ajay Banga on being nominated to lead @WorldBank. India […]
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Political leaders and industry captains on February 24 hailed Indian American Ajay Banga’s nomination as World Bank president, saying he is an inspired choice and a phenomenal addition to the list of Indian-origin leaders at the helm of globally impactful organisations. President Joe Biden on Thursday announced that the U.S. is nominating Mr. Banga to […]
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India’s economic growth is now ‘extremely fragile’ and needs all the support that it can get, as private consumption and capital investment are yet to pick up, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on December 23. Mr. Varma further said out of the four engines of growth for the economy, exports […]
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Labourers work at the construction site of a commercial complex in New Delhi. File photo | Photo Credit: Reuters The report sees average retail inflation at 7.1 this year. India’s economy is expected to grow 6.9% in the current fiscal year, the World Bank said in a report on Tuesday, December 6, 2022., citing tightening […]
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S&P projected inflation to average 6.8% in current fiscal year and RBI’s benchmark interest rate to rise to 6.25% by March 2023. S&P Global Ratings on November 28 cut India’s economic growth forecast for current fiscal year to 7%, but said the domestic demand-led economy will be less impacted by the global slowdown. S&P had in September […]
Continue ReadingRepresentational image only. India and the Gulf Cooperation Council (GCC) will announce the launch of negotiations for a free trade agreement on November 24, which aims at promoting two-way commerce and investments between the regions, an official said. GCC is a union of six countries in the Gulf region — Saudi Arabia, the UAE, Qatar, […]
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The Finance Minister said India looks forward to close collaboration with the World Bank during the upcoming G20 Presidency The Finance Minister said India looks forward to close collaboration with the World Bank during the upcoming G20 Presidency World Bank President David Malpass has offered to work with India to take its successful digitisation efforts […]
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India will assume the Presidency of the G20 for one year from December 1, 2022 to November 30, 2023. India will assume the Presidency of the G20 for one year from December 1, 2022 to November 30, 2023. Finance Minister Nirmala Sitharaman has met IMF’s Deputy Managing Director Gita Gopinath during which they discussed current […]
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