India Ratings & Research (India Ratings) has revised downwards the GDP growth forecast of the country for 2021-22 (FY22) to 8.6 percent. Earlier this was projected at 9.2 percent. The National Statistical Organisation (NSO), which has forecast 9.2 per cent real GDP growth for the year, will release the second advance estimate of national income.
India Ratings lowers FY22 GDP growth to 8.6 percent from 9.2 percent Read More »
Bharti Airtel said it has joined the ‘SEA-ME-WE-6’ undersea cable consortium in a bid to scale up its high-speed global network capacity to serve India’s fast-growing digital economy. Airtel will be the major investor in the SEA-ME-WE-6. It shall be anchoring 20 percent of the overall investment in the cable system, which will go live in 2025. SEA-ME-WE-6 stands
NPCI International Payments Limited (NIPL) has partnered with Gateway Payments Service Pvt Ltd and Manam Infotech Private Limited to deploy Unified Payments Interface(UPI) in Nepal. Nepal will be the first country to adopt India’s UPI system, which will play a pivotal role in transforming the digital economy of the neighbouring country. Gateway Payments Service Pvt
Reserve Bank of India conducted the 6th and the last Monetary Policy Committee (MPC) meeting for 2021-22 between February 8-10, 2022. Reserve Bank of India has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 percent. The central bank had last revised the policy rate on May 22, 2020, in an off-policy cycle to perk
RBI keeps Repo Rate unchanged at 4.0 percent; GDP growth for 2022-23- 7.8 percent. Read More »
Fintech unicorn Razorpay has acquired a majority stake in Curlec in a deal that values the Malaysian payments startup at over $19 million. Razorpay will fully acquire the company later in 18 months. Overall this is the fourth acquisition of Razorpay and the first acquisition in a foreign country. Prior to this, Razorpay has acquired
Razorpay buys majority stake in Malaysian startup “Curlec” at over $19 mn valuation Read More »
Reserve Bank of India (RBI) has emerged as the second-largest buyer of Gold among the world’s Central Banks in 2021. The largest buyer, the Central Bank of Thailand, bought 90 metric tonnes of gold while RBI bought 77.5 metric tonnes taking its total gold reserve to 754.1 tonnes at the end of December 2021. Central Bank of Thailand (Bank
RBI emerged as the second-largest buyer of Gold among the world’s Central Banks in 2021 Read More »
The Asian Development Bank (ADB) on February 06, 2022 said it provided a record USD 4.6 billion loans to India in 2021, including USD 1.8 billion towards coronavirus response. “The Asian Development Bank committed a record USD 4.6 billion in sovereign lending to India in 2021 for 17 loans. The USD 1.8 billion COVID-19-related assistance
ADB committed record US$4.6-bn loans to India in 2021 Read More »
The National Statistical Office (NSO) has released the First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation for the financial year 2020-21. NSO comes under the Ministry of Statistics and Programme Implementation. As per the Ministry of Statistics & Programme Implementation release, real GDP or GDP at constant (2011-12) prices for the years 2020-21 and 2019-20
Domestic rating agency CRISIL on Wednesday estimated FY23 real GDP growth at 7.8 percent as compared with the 8.5 percent projected in the Economic Survey. Rating Agency CRISIL has made the following projections for the GDP growth rate of India: For 2021-22 (FY22) = 9.2% For 2022-23 (FY23)= 7.8%
CRISIL projects India’s GDP growth for FY22 at 9.2% and for FY23 at 7.8% Read More »
India has paid USD 29.9 million in UN regular budget appraisals for the year 2022. As of January 21, 2022, 24 Member States have settled up on their regular financial plan appraisals completely. With this India joins ‘2022 Honour Roll’ list of Member States that have paid their @UN Regular Budget Assessments in full. India
