Economic News
India-Asean explore widespread cooperation
The ministers from both sides also emphasised the need for more robust air and maritime connectivity, according to a co-chairs statement released after the meeting. India and Singapore are co-chairs of the meet to celebrate 30 years of dialogue partnership.
Delhi power consumers may need to fill form from July to continue availing subsidy
Officials said the forms, both in soft and hard versions, will be made available to the consumers with "yes" and "no" options about seeking subsidy or giving it up after October 1.
Child dead, three others injured in house collapse in Delhi’s Paharganj
A senior fire official said a search is on for other people suspected to be trapped under the debris.
Emerging market economies, including India, need to keep foreign exchange reserves liquid: RBI paper
"Our results indicate that there is a 5 percent chance of portfolio outflows from India of the order of 3.2 percent of GDP or US $ 100.6 billion in a year in response to a COVID-type contraction in real GDP growth, or a global financial crisis -GFC- type decline in interest rate differentials vis-à-vis the US, or a GFC type surge in the VIX" said a study titled " Capital Flows at Risk: India’s Experience" published in the latest RBI Bulletin.
Law Firms SNG & Partners and R&P Partners inks joint venture agreement
The consolidated strength of the firms will be over 120 lawyers including partners and will have a presence across New Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Coimbatore, Cochin, Madurai, and Singapore.
European leaders meet Zelenskyy in Kyiv for first time since war began
In the first such visit to the capital since Russia unleashed its invasion, France's Emmanuel Macron, Germany's Olaf Scholz, Italy's Mario Draghi and Romania's Klaus Iohannis also gave qualified support for Kyiv's bid to join the European Union.
RBI article flags low R&D spend, could hurt India’s transition to next phase of manufacturing
According to the latest data available (of 2018), India’s R&D intensity remains 0.7% in comparison to other countries where the number is somewhere near 3%.
Indians’ funds in Swiss banks jump 50 pc to over Rs 30k cr on surge in securities, institutional holdings; customer deposits up too
The rise in aggregate funds of Indian clients with Swiss banks, from 2.55 billion Swiss francs (Rs 20,700 crore) at the end of 2020, marks the second consecutive year of increase. Besides, the money held in Indian customers' savings or deposit accounts rose to a seven-year high of about Rs 4,800 crore, reversing a two-year declining trend.