MUMBAI: India’s rapid economic growth is sustained by domestic resources rather than foreign capital, former RBI deputy governor Michael Patra said amid external challenges, including tariffs imposed by US President Donald Trump.“India self-finances its growth and doesn’t depend on foreign capital for its investment,” Patra said at an event here on Monday. “This is a […]
FDI trends: India’s outward FDI outpaces world average over 5 years; Bank of Baroda report shows record flows
India’s outward foreign direct investment (FDI) flows have grown at a sharp pace over the past five years, with a compound annual growth rate (CAGR) of 12.6%, much higher than the global average of 3.9%, according to a Bank of Baroda report.The report, authored by economist Dipanwita Mazumdar, noted that India’s outward FDI touched a […]
Currency watch: Rupee hits all-time low of 88.10 against US dollar, trade worries and fund outflows weigh
The rupee closed at a fresh all-time low of 88.10 against the US dollar on Monday, slipping by just 1 paisa amid concerns over Indo-US trade tariffs and strong dollar demand from importers.Currency traders said the domestic unit opened weaker at 88.18 at the interbank foreign exchange market and fell further to touch an intra-day […]
Economy path: GDP growth can cross 8% if India Inc ramps up investments, says former RBI deputy governor Michael Patra
Former Reserve Bank deputy governor Michael Patra on Monday said corporate India is a “missing actor” in the country’s growth story, stressing that the economy can accelerate beyond 8% if businesses step up investments.“Now we are seeking to head back [to 8%]. The most important missing actor in this is corporate India, which is not […]
Retirement planning mistakes: 8 costly errors to avoid – from skipping withdrawal plans to ignoring medical expenses
For many, retirement is imagined as a time of ease—slower mornings, quality time with family, travel, and indulging in long-postponed hobbies. The picture, however, often collides with reality. A surprisingly large number of retirees discover that their savings don’t stretch far enough, or that a single medical emergency wipes out years of careful planning. Others […]
India-UK FTA: Pact to cut tariffs and strengthen business confidence; what British Parliament was told
The India-UK Free Trade Agreement (FTA) signed on July 24 by Prime Ministers Narendra Modi and Keir Starmer will cut trade tariffs from 15% to 3% and is expected to bolster business confidence in a volatile global environment, British MPs were told on Monday.UK Business and Trade Secretary Jonathan Reynolds briefed the House of Commons […]
Bengaluru traffic woes impact! Infosys reschedules bus service for staff; commute time clashed with US calls
Infosys staff members continue their work duties from home, both online and offline, after leaving the office. Bengaluru’s persistent and infamous traffic woes seem to have forced Infosys, India’s second largest IT services firm, to reschedule its bus service timings for employees. Infosys has modified the evening bus departure times from its Electronic City facility […]
DGCA grants safety clearance to AISATS
NEW DELHI: The Directorate General of Civil Aviation (DGCA) has granted safety clearance to Air India SATS Airport Services Pvt Ltd (AISATS) for the first time. Since ground handling is vital to aviation safety, and with increasing traffic, larger aircraft, faster turnarounds, and multiple service providers, DGCA has mandated safety clearance for all operators. India […]
Currency circulation: Rs 2000 notes worth Rs 5,956 crore still remain; RBI says 98% returned since withdrawal
High-value Rs 2000 banknotes worth Rs 5,956 crore are still in circulation more than two years after the Reserve Bank of India (RBI) announced their withdrawal, official data showed on Monday.The RBI had notified the withdrawal of the denomination on May 19, 2023, while clarifying that the notes would continue to be legal tender. At […]
India current account deficit narrows to 0.2% of GDP in Q1; services exports drive improvement: RBI
India’s current account deficit (CAD) eased to 0.2% of GDP, or $2.4 billion, in the April–June quarter of 2025-26, down from 0.9% of GDP ($8.6 billion) in the same period a year earlier, the Reserve Bank of India said on Monday. The improvement was aided by higher services exports and stronger remittance inflows.In contrast, the […]