BUSINESS
Ukraine war, high commodity prices led to inflation exceeding tolerance levels in 2022-23: RBI report
The RBI in its annual report for 2022-23 added that inflation eased somewhat during November-December 2022 on seasonal easing in food prices, before rising again during January-February 2023 and moderating to 5.7 per cent in March 2023.
UK to crackdown on vape marketing targeting kids, teens
Announcing the new set of measures aimed at limiting underage vaping, Prime Minister Rishi Sunak said he was "deeply concerned" about an increase in children vaping and was "shocked by reports of illicit vapes containing lead getting into the hands of schoolchildren", the BBC reported. "The marketing and the illegal sales of vapes.
Myntra's EORS-18 goes live on June 1, offering 20 lakh styles across over 6,000 brands
The company is geared to handle 9 lakh concurrent users at peak. Myntra's over 17,000 MENSA network of Kirana partners will play an important role in enabling the seamless delivery of orders across the country.
Counterfeit currency notes of Rs 500 denomination detected in 2022-23, rose by 14.6%: RBI report
At the same time, the number of counterfeit notes of Rs 2,000 denomination detected by the system, fell by 28 per cent to 9,806 pieces during the same period.
Govt deficit, debt moderated in 2022-23: RBI report
"While committing to credible fiscal consolidation, the government has led the revival in investment cycle through augmented capital expenditure, recognising its multiplier effects by crowding-in private investment and lifting the economy's growth potential," it said while commenting on government finances.
Despite challenges to domestic economic activity, India to remain in advantageous position in 2023-24: RBI
The central bank has made these observations in its annual report for 2022-23, which was released on Tuesday. Commenting on prospects for 2023-24, the RBI said in its annual report that the GDP growth for the current fiscal is projected at 6.5 per cent. "Taking into account softer global commodity and food prices, good rabi crop prospects.
Urban unemployment fell to 6.8% in January-March period of 2022-23: Govt survey
At this rate, the unemployment rate in Indian cities is the lowest since the quarterly periodic labour force survey (PLFS) came into existence in 2018-19. As per this survey, a person is considered employed if they worked for at least one hour on any day during the seven days preceding the day they are surveyed.
Markets close on high note; Nifty heading towards lifetime high
During the day, the Nifty touched a high of 18,641.20 and a low of 18,581.25 and closed at 18,598.65. "The Nifty held on to steady gains to end higher on May 29. At close, the Nifty was up 0.54 per cent or 99.3 points at 18,598.7. Volumes did not expand even as the Nifty kept surging higher," Deepak Jasani, Head of Retail Research, HDFC Securities said.
Banking stocks likely to lead market rally
Sandeep Gupta, Senior Group VP & Head of Dealing & Advisory - Broking & Distribution, MOFSL said the Index made a new all-time high of 44,483 mark on Monday, compared to its previous high of 44,151 made in December 2022. Gupta said earning momentum continued for banking stocks as most banks reported strong results.
India now largest producer, importer of coal: Pralhad Joshi
Addressing the first Mining Startup Summit here, Joshi said that today India has the fourth largest coal reserves. "This year, the production of coal has reached 850 million tonnes. We hope to stop import of thermal coal completely by 2025-2026. Further, a transparent system has been put into place for exploration and auction and all discretionary power has ended," he said.
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