Strong bank loan growth in FY23 despite higher interest rates: Fitch

NEW DELHI: Fitch Ratings on Monday said India’s bank credit will see strong growth in current financial year despite effects of higher interest rates. It said the strong loan growth should benefit net revenue, particularly as it will be coupled with wider net interest margins. “We see bank credit expanding by around 13 per cent […]

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Retail Inflation For Industrial Workers Rises To 6.4% In September On Higher Food Prices

The Labour Bureau has been compiling Consumer Price Index for Industrial Workers.(Representational) New Delhi: Retail inflation for industrial workers rose to 6.49 per cent in September from 5.85 per cent in August 2022 mainly due to higher prices of certain food items, according to the government data released on Monday. “Year-on-year inflation for the month (of […]

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Joe Biden’s Foreign Policy Earns Higher Score In Europe Than In US: Report

The highest approval was in Poland, a NATO ally with 74%. (File) Washington: US President Joe Biden has struggled in domestic polls since last year but his foreign policy is earning higher marks in much of Europe as he leads efforts against Russia’s invasion of Ukraine. A 14-nation survey released Thursday by the German Marshall […]

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Harsha Engineers Shares Settle Over 47% Higher In Debut Trade

Harsha Engineers shares ended at Rs 485.90 apiece, a jump of 47.24 per cent. New Delhi: Shares of Harsha Engineers International Ltd on Monday ended over 47 per cent higher against the issue price of Rs 330 apiece. The company’s shares made their debut at Rs 444, reflecting a jump of 34.54 per cent against […]

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US Federal Reserve delivers big rate hike, sees another large move higher this year

WASHINGTON: The US Federal Reserve raised its target interest rate by three-quarters of a percentage point to a range of 3.00%-3.25% on Wednesday and signaled more large increases to come in new projections showing its policy rate rising to 4.40% by the end of this year before topping out at 4.60% in 2023 to battle […]

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Direct tax kitty grows 30% in FY23 to Rs 8.36 lakh cr on higher advance tax mop-up

NEW DELHI: Gross direct tax collections grew 30% to Rs 8.36 lakh crore till September 17 of current fiscal year on increased advance tax mop-up, the finance ministry said on Sunday. “The gross collection of direct taxes (before adjusting for refunds) for FY 2022-23 stands at Rs 8,36,225 crore compared to Rs 6,42,287 crore in […]

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