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SBI named Best Bank in India for 2024 by Global Finance Magazine

SBI named Best Bank in India for 2024 by Global Finance Magazine

Sun, Oct 27, 2024

State Bank of India (SBI) was recognised as the Best Bank in India for 2024 by Global Finance Magazine of the US at its 31st Annual Best Bank Awards event.

Uzbekistan's economy grows by 6.6% in past 9 months

Uzbekistan's economy grows by 6.6% in past 9 months

Fri, Oct 18, 2024

The statement said that the share of investment in the country's GDP will surpass 33 per cent this year, with exports projected to rise by nearly 19 per cent.

Nirmala Sitharaman to visit Mexico and US from October 17 to October 26

Nirmala Sitharaman to visit Mexico and US from October 17 to October 26

Tue, Oct 15, 2024

Finance Minister Nirmala Sitharaman is scheduled to leave on Tuesday night for an official visit to Mexico and the US, during which she will attend a host of meetings including annual gatherings of the IMF and the World Bank, and the G20 Finance Ministers' meetings with central bank governors. The finance minister will also engage i bilateral meetings with several countries and organisations during this official trip.

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India can become 5th largest economy next year: Arun Jaitley

India can become 5th largest economy next year: Arun Jaitley

Sat, Jul 14, 2018

Buoyed by recent World Bank figures, Union Finance Minister Arun Jaitley has said India is likely to become the fifth largest economy next year, surpassing Great Britain, if the country continues its projected growth trajectory.

India is world's 6th largest economy; this is whom it beat

India is world's 6th largest economy; this is whom it beat

Thu, Jul 12, 2018

Good news! World Bank data says India has emerged as the world's 6th largest economy and that too in 2017, beating France and likely to go past the United Kingdom, which is at the fifth position right now. Let us look at other facts based on an analysis of data compiled by the World Bank.

Centre, World Bank sign $500m loan accord to finance PMGSY rural roads project

Centre, World Bank sign $500m loan accord to finance PMGSY rural roads project

Thu, May 31, 2018

The World Bank, which has supported PMGSY since its inception in 2004, has so far invested over $1.8 billion in loans and credits mostly in the economically weaker and hill states across North India - Bihar, Himachal Pradesh, Jharkhand, Meghalaya, Rajasthan, Uttarakhand, and Uttar Pradesh. It has built and improved about 35,000 km of rural roads and benefited about eight million people with access to all-weather roads, the statement said.

Bill Gates gives Aadhaar card in India a big thumbs up

Bill Gates gives Aadhaar card in India a big thumbs up

Fri, May 04, 2018

India’s Aadhaar technology does not pose any privacy issue and the Bill and Melinda Gates Foundation has funded the World Bank to take this approach to other countries as it is worth emulating, Microsoft founder Bill Gates has said.

Jawaharlal Nehru Port Trust (JNPT) can see double-digit growth now: Neeraj Bansal

Jawaharlal Nehru Port Trust (JNPT) can see double-digit growth now: Neeraj Bansal

Mon, Apr 30, 2018

Jawaharlal Nehru Port Trust (JNPT) saw a 7.4% rise in container handling in the last fiscal and with the first phase of the fourth terminal becoming fully operational, volumes are likely to see a double-digit growth.

At $69 billion, India top recipient of remittances last year

At $69 billion, India top recipient of remittances last year

Tue, Apr 24, 2018

India retained the top position as recipient of remittances with its diaspora sending about $69 billion back home last year, the World Bank said. The upsurge is likely to continue on the back of stronger economic conditions in advanced economies.

India receives $69 bn remittances in 2017; retains top slot

India receives $69 bn remittances in 2017; retains top slot

Mon, Apr 23, 2018

Payments from immigrants back to their home countries rebounded to reach a new record in 2017 but the costs of transferring funds also increased, the World Bank said in a report. The stronger-than-expected recovery in remittances -- payments that are key to supporting the economies of many poor countries - was driven by growth in Europe, Russia, and the United States.

World Bank shareholders back $13 billion capital increase

World Bank shareholders back $13 billion capital increase

Sun, Apr 22, 2018

The World Bank`s shareholders on Saturday endorsed a $13 billion paid-in capital increase that will boost China`s shareholding but bring lending reforms that will raise borrowing costs for higher-middle-income countries, including China.

GST returns filing: Realty companies still find process complex

GST returns filing: Realty companies still find process complex

Wed, Apr 18, 2018

A recent World Bank report had stated that the structure of India’s indirect tax is among the complicated ones in the world with high and larger number of tax rates.

GDP growth rate in India: World Bank forecast says 7.3 pct in 2018

GDP growth rate in India: World Bank forecast says 7.3 pct in 2018

Tue, Apr 17, 2018

World Bank acknowledged that disruptions from demonetisation and events surrounding the implementation of GST led to a setback in economic activity and a potentially larger negative effect on the poor and vulnerable.

Need to rethink migration policies to boost labour supply: IMF

Need to rethink migration policies to boost labour supply: IMF

Mon, Apr 09, 2018

Labour market policies and institutions, together with structural changes and gains in educational attainment, account for the bulk of the dramatic increase in the labour force attachment of prime-age women and older workers in the past three decades.

Now, get Reliance Energy connection in 15 days

Now, get Reliance Energy connection in 15 days

Fri, Mar 23, 2018

Reliance Energy -- the first power utility in the world to get ISO 55001:2014 certification -- is the power distribution arm of Reliance Infrastructure Ltd serving three million customers spread across 400 sq.km in Mumbai suburban and surroundings.

Rahul Gandhi slams GST citing World Bank report; Smriti Irani rebuts him saying he is quoting selectively

Rahul Gandhi slams GST citing World Bank report; Smriti Irani rebuts him saying he is quoting selectively

Sun, Mar 18, 2018

Congress president Rahul Gandhi also tagged with his tweet a media report that quoted the World Bank report as saying that the Goods and Services Tax (GST) implemented by the government from July 1 last year was one of the most complex, with the second highest tax rate in the world among 115 countries which have a similar indirect tax system.

World Bank has an advice for Mumbai locals; here's what

World Bank has an advice for Mumbai locals; here's what

Sun, Mar 18, 2018

World Bank country director Junaid Ahmad while stressing on the need to create strong public institutions, rather than the 'project by project' approach adopted currently. At present, the suburban train network handles over 6 million passengers a day across the four lines. The services are operated by the state-run Railways and are administered by the Central Railway and Western Railway both headquartered in Mumbai

PNB fraud: World Bank plays down scam, says not a systemic problem

PNB fraud: World Bank plays down scam, says not a systemic problem

Fri, Mar 16, 2018

The PNB scam has been accompanied by many other frauds, including the over Rs 3,600-crore Rotomac scam and others coming to light and cases being made by the national investigation agency Central Bureau of Investigation.

India GDP growth forecast: World Bank says 8 pct acceleration possible, but there is a catch

India GDP growth forecast: World Bank says 8 pct acceleration possible, but there is a catch

Wed, Mar 14, 2018

India GDP growth forecast: India's economic growth had slipped to a three year low of 5.7 per cent in April-June quarter of the current fiscal, though it recovered in the subsequent quarters. The economy is expected to grow at 6.6 per cent in the current fiscal ending March 31, as per the second advanced estimates of the Central Statistics Office (CSO), compared to 7.1 per cent in 2016-17. The earlier estimate was 6.5 per cent.

Cryptocurrencies: Goldman says most digital currencies will not survive

Cryptocurrencies: Goldman says most digital currencies will not survive

Thu, Feb 08, 2018

The value of cryptocurrencies soared in 2017 before slumping, with bitcoin losing nearly two-thirds of its value since mid-December.

GPR initiatives to enhance “ease of doing business" launched

GPR initiatives to enhance “ease of doing business" launched

Thu, Jan 25, 2018

The initiative comes in the wake of the government's commitment to achieve a position in the top 50 countries for “Doing Business” as per the rankings published annually by the World Bank.

India reclaiming place at growth leader, says IMF

India reclaiming place at growth leader, says IMF

Tue, Jan 16, 2018

After a short period of slowdown in the economy, India is reclaiming its place as a growth leader, first deputy managing director of the International Monetary Fund (IMF) David Lipton said.

India has huge potential, projects 7.3% growth in 2018, says World Bank

India has huge potential, projects 7.3% growth in 2018, says World Bank

Wed, Jan 10, 2018

With an "ambitious government undertaking comprehensive reforms", India has "enormous growth potential" compared to other emerging economies, the World Bank said today, as it projected country's growth rate to 7.3 per cent in 2018 and 7.5 for the next two years.

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