The World Gold Council (WGC) in its ‘Gold Demand Trends 2021’ Report has informed that the global gold demand rose 10 % in 2021 to 4,021.3 tonnes. The overall gold demand during 2020, which was impacted following COVID-19 related disruptions, stood at 3,658.8 tonnes, the WGC said in its ‘Gold Demand Trends 2021’ Report. Meanwhile, […]
Global gold demand increases by 10% to 4,021 tonnes in 2021 Read More »
The International Monetary Fund (IMF) has cut India’s economic growth forecast for the current fiscal 2021-22 (FY22) to 9 percent, in its latest world economic outlook report, released on January 25, 2022. In its latest update of World Economic Outlook on Tuesday, the Washington-based international financial institution, which had in October last year projected a
IMF lowers India’s FY22 growth forecast to 9% from 9.5% Read More »
Servers of city-based Andhra Pradesh Mahesh Co-operative Urban Bank were hacked by some people and funds to the tune of nearly Rs 12 crore were allegedly fraudulently transferred to several bank accounts across the country, police said on Tuesday. The amount was not siphoned from the accounts of the customers rather it was transferred from
Rs 12 crore siphoned off by hackers from of Andhra Pradesh Mahesh Co-op Urban Bank Read More »
The World Bank’s Executive Board of Directors approved a $125 million loan to the Government of West Bengal to support the state’s efforts to help poor and vulnerable groups access social protection services. The loan has been provided under the ‘West Bengal Building State Capability for Inclusive Social Protection’ operation, on 19 January, 2022. The
The country’s foreign exchange reserves declined by $878 million to stand at $632.736 billion in the week ended January 7, 2022. In the previous week ended December 31, India’s reserves dropped by $1.466 billion to $633.614 billion. The decline was mainly due to a fall in gold reserves and foreign currency assets (FCA). In the reporting week, FCAs
India’s forex reserves declines by $878 mn to $632.7 bn Read More »
Indian economy expected to grow 6.5% in the current financial year ending Maech 2022, (FY22), down from the earlier forecast of 8.4% amid rapid vaccination progress, the United Nations said. The WESP is a flagship report produced by the UN Department of Economic and Social Affairs (UN-DESA). UN has projected the growth rate for the fiscal 2023 (FY 2022-2023) at
UN projects India GDP at 6.5% in FY22 and 5.9% in FY23 Read More »
Swiss brokerage UBS Securities has lowered the growth forecast of the Indian economy for the current financial year (FY22) to 9.1 % due to a massive surge in Omicron infections. Earlier this was estimated at 9.5 percent. However, UBS Securities does not see the third wave impact extending to the next financial year as it has revised upwards its
UBS Projects India’s GDP forecast at 9.1% in FY22 and 8.2% in FY23 Read More »
The World Bank has projected the Indian economy to grow at the following rate in its ‘Global Economic Prospects’ report released on January 11, 2022. FY 2021-2022 – 8.3% FY 2022-2023 – 8.7% FY 2023-2024 – 6.8% World Bank has lowered the Global economy growth rate as follows: 2021 – 5.5 percent 2022 – 4.1 percent 2023 – 3.2 percent
World Bank projects India’s GDP growth at 8.3% in FY22 & 8.7% in FY23 Read More »
National Statistical Office (NSO) has estimated India’s GDP to grow at 9.2 percent in the current fiscal, 2021-22. NSO released its first advance estimates of economic output on January 07, 2022. The GDP estimate for 2020-21 fiscal was projected at a contraction of 7.3 percent by NSO. Key points: National Statistical Office (NSO) estimated India’s real GDP in the current
NSO projects the Indian economy to grow 9.2% in FY22 Read More »
As per the latest Reserve Bank of India (RBI) data, the foreign currency reserves of India declined by $1.466 billion to $633.614 billion, in the last week of 2021, which ended December 31, 2021. In the previous week ended December 24, the reserves dipped by USD 587 million to USD 635.08 billion. Gold reserves rose by USD 14 million to USD
Forex reserves decline by USD 1.466 bn to USD 633.614 bn: RBI data Read More »
