EP MONEY

India’s monsoon is becoming increasingly unpredictable, with longer dry spells interrupted by intense bursts of rainfall, raising concerns over agricultural output, food prices and electricity demand. According to Bloomberg, the country recorded its fifth-driest June on record, with rainfall nearly 40 percent below normal, before heavy downpours in early July brought about a month’s worth […]

India is on the verge of accepting Fairfax’s offer to acquire a majority stake in IDBI Bank, according to ET Finance. The deal values the bank at Rs 60,000 crore. Fairfax, a Canadian insurance and healthcare company with significant operations in India, will take a 51% stake, while the government retains 10%. The remaining shares

Retail inflation in India has climbed to 4.4 percent in December, driven primarily by rising costs of food and transport, according to data released this week. This marks a significant jump from the previous month’s reading and pushes inflation closer to the upper limit of the Reserve Bank of India’s comfort zone. The RBI typically

The Reserve Bank of India is tightening its oversight of how much money Indian companies send abroad for investments and business operations. Banks and financial institutions have received updated notifications changing how they process foreign investment applications, according to ET Economy. The move represents a shift in how the central bank monitors capital outflows from

India and the United Kingdom have signed a trade agreement that removes import duties on 80% of goods traded between them, effective from April 2024. The Economic Times reported the deal eliminates tariffs on products spanning British whisky, chocolates, and machinery to Indian textiles, automobiles, and pharmaceuticals. Tariffs are taxes governments add to imported goods

Women’s cash transfer schemes have become one of the defining features of state elections over the past four years. Since 2022, the number of states offering monthly financial assistance to women has grown from two to 14, with a combined annual outlay of ₹1.68 trillion, or around 0.5 per cent of India’s GDP. Many of

India’s central bank has used roughly $100 billion from its foreign exchange reserves this year to defend the rupee, marking the highest annual intervention on record. The Reserve Bank of India sold dollars from its reserves in an effort to prevent the Indian currency from weakening too sharply against the US dollar. When a currency

Seventeen major banks are now testing a new blockchain-based payment system created by Swift, the global organisation that processes most international bank transfers. The pilot includes HSBC, Citibank, DBS, and other significant financial institutions from around the world, according to Business Standard. The system will allow these banks to send money across borders at any

India’s petrol prices rank among the world’s cheapest, and Oil Minister Hardeep Singh Puri recently spelled out exactly how the country maintains this affordability despite global crude oil costs being high. The explanation reveals a deliberate strategy built on multiple pillars that work together to keep fuel accessible for ordinary Indians. India’s first advantage is

Major American technology and manufacturing companies have warned the Trump administration that imposing higher tariffs on imports from India and other countries could harm US manufacturing rather than help it. According to ET Economy, firms including Apple, Microsoft, and Intel have raised these concerns as the administration considers raising tariffs as part of its trade