Business

NEW DELHI: The Reserve Bank of India (RBI) has highlighted that while household debt in India has been on the rise over the past three years, it remains relatively low compared to other emerging market economies (EMEs).It said, “At 42.9 per cent of GDP (at current market prices) in June 2024, India’s household debt is relatively low compared to other …

Technical Analysis shows bearish pressure, with Choice Broking’s Hardik Matalia noting significant selling at higher levels. (AI image) Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in red on Tuesday, the last trading day of 2024. While BSE Sensex was below 77,900, Nifty50 was just above 23,550. At 9:17 AM, BSE Sensex was trading at …

BEIJING: China’s manufacturing activity expanded in December for the third month in a row, official data showed Tuesday, as leaders fight to reverse a slowdown in the world’s number two economy.The country has struggled to climb out of a slump fuelled by a property market crisis, weak consumption and soaring government debt.China’s Purchasing Managers’ Index (PMI) — a key measure …

A fund created by the US government to help compensate victims of the late fraudster Bernard Madoff has begun making its final round of payments, according to a statement by the Department of Justice (DoJ). The payouts being made by the Madoff Victim Fund (MVF) are worth $131.4m (£104.6m) and are set to bring the total amount it has handed …

Getty Images An immigration row has erupted between Donald Trump’s supporters over a long-standing US visa programme. The feud is about H-1B visas, which allow US-based companies to bring in skilled workers from abroad into certain industries. Some immigration hardliners say the scheme undercuts American workers – but proponents say the visas allow the US to attract the best expertise …

Former sub-postmasters turned campaigners in the Post Office scandal have said they will fight on after being made OBEs in the New Year Honours list. Lee Castleton, Seema Misra, Chris Head and Jo Hamilton were honoured for services to justice. The group were thrust into the limelight after an ITV drama showed how hundreds of sub-postmasters were wrongfully pursued and …

MUMBAI: RBI has asked the National Payments Corporation of India to develop a facility to allow customers using online fund transfer systems, RTGS and NEFT, to verify the name of the bank account to which money is being transferred before initiating the transaction for avoiding mistakes and prevent frauds.All banks that are direct members or sub-members of RTGS and NEFT …

Cocoa futures surged on renewed supply fears as concerns over crops in West Africa persist, resuming a rally that has made the chocolate ingredient one of the hottest commodities of the year. The most-active cocoa contract in New York climbed as much as 14% – the biggest intraday jump since May. Futures partly offset losses from last week, when market …

MUMBAI: India’s financial sector is entering 2025 on a strong footing, buoyed by robust earnings, low impaired assets, and strong capital buffers, RBI governor Sanjay Malhotra said. In his first communication as governor in RBI’s financial stability report, Malhotra said that India’s financial system remained resilient despite uncertainties from geopolitical conflicts, market volatility, and climate risks. “Prospects for the Indian …

CHENNAI: It’s discounts season in the electric vehicle market. Stock pile-ups, cheaper components and the pressure of CAFE norms have combined to bring big discounts to not only electric passenger vehicles but also electric two-wheelers. According to EV dealers, best-selling electric PVs like Nexon EV and XUV400 EV are offering discounts in the region of Rs 3 lakh. Electric two-wheelers …