Federal Reserve Chairman Jerome Powell (AP photo) US treasury secretary Scott Bessent made his most explicit call yet for the Federal Reserve to execute a cycle of interest-rate cuts, suggesting the central bank’s benchmark ought to be at least 1.5 percentage points lower than it is now.“I think we could go into a series of…
Representative image (PTI photo) NEW DELHI: The number of days taken for finalisation of the insolvency resolution plan has dropped from 752 days at the end of the March quarter to 694 days at the end of June, but remains significantly higher than the prescribed 180 days, which can be extended by another 90.According to…
NEW DELHI: While estimating that nearly 70% of India’s exports are exposed to Trump’s 50% tariffs, think tank Icrier has suggested govt support for hard-hit sectors, such as textiles and gems and jewellery, along with sharp duty cuts in non-sensitive farm goods and addressing US demands on genetically modified products.The recommendations on farm goods fly…
The State Bank of India (SBI) will introduce nominal charges on Immediate Payment Service (IMPS) fund transfers above Rs 25,000 made through online channels starting August 15, according to details posted on its website.The country’s largest lender clarified there will be no change in charges for IMPS transfers conducted at branches, PTI reported. For online…
The US government’s gross national debt has crossed $37 trillion, setting a new record that underscores the growing strain on the country’s finances and adding to the cost pressures facing taxpayers, according to the latest Treasury Department report issued Tuesday.The milestone has arrived years earlier than pre-pandemic forecasts. In January 2020, the Congressional Budget Office…
India is on track to become the world’s most sought-after consumer market while undergoing a major energy transition, witnessing a rise in the credit-to-GDP ratio, and seeing manufacturing take a bigger share of GDP, according to a Morgan Stanley report.The report noted that the falling intensity of oil in GDP, a rising share of exports—particularly…
The Reserve Bank of India (RBI) has allowed individuals to invest in Treasury bills (T-bills) through the systematic investment plan (SIP) route on its retail direct platform, aiming to boost retail participation in the bond market.An ET analysis shows that while bank fixed deposits (FDs) offer at least 68 basis points (bps) higher returns in…
The Reserve Bank of India (RBI) will introduce a new system from October 4 to clear cheques within hours of being presented, sharply reducing the current window of up to two working days.The move will transition the existing Cheque Truncation System (CTS) from batch processing to a ‘continuous clearing and settlement on realisation’ model, aimed…
Donald Trump has gone to great lengths to avoid upsetting Chinese leader Xi Jinping. (AI image for representation.) President Donald Trump has extended the US‑China tariff truce by 90 days – to November 10 – as both sides scramble to keep tensions from boiling over again. “I have just signed an Executive Order that will…
The rupee appreciated 16 paise to end at 87.47 against the US dollar on Wednesday, buoyed by a weak greenback and positive sentiment in domestic equity markets. Traders said easing crude oil prices and cooling inflation further supported the local currency, although uncertainties over trade tariffs and persistent foreign fund outflows capped sharper gains.At the…
