In a letter, which was also addressed to state-run export finance institution Exim Bank, the finance ministry last month told the RBI and Insurance Regulatory and Development Authority of India (IRDAI) to monitor and look into the concerns raised by exporters with the commerce ministry about these disruptions potentially inflating India's export costs, officials said ..read more

Vistara CEO Vinod Kannan assured staff that the worst is over following flight disruptions due to pilot issues. Operations stabilized after capacity cuts and resignations. Challenges included pilot rosters, new contracts, and operational issues. Kannan acknowledges learning experience and emphasizes customer focus for airline's recovery. Compensation offered to affected passengers ..read more

MUFG in talks to buy 20% stake in HDB Financial Services from HDFC Bank at $9-10B, unlocking value post $60B merger, with $2B investment, IPO preparations per RBI regulations ..read more

Drawing from our data, these are mostly the Nordic countries, Canada and the UK. They have a strong educational system and do well in financial literacy. This does matter — studying microdata across countries, we’ve found people with greater financial literacy are less economically fragile or more able to face shocks. This is particularly important in an era when we face not just normal distur-bances but shocks at an aggregate level, like the pandemic or climate change, says Annamaria Lusardi ..read more

Congress leader Priyanka Gandhi Vadra slammed the BJP-led Centre on Saturday over its proposal to borrow more than Rs 14 lakh crore, asking why is the government "drowning the people in debt" when instead of relief being provided to them, the "burden of unemployment, inflation and economic crisis" is increasing. In her budget speech last month, Finance Minister Nirmala Sitharaman proposed to borrow Rs 14.13 lakh crore by issuing dated securities to meet a revenue shortfall in the next financial year starting April 1 ..read more

China has said it would continue to support Sri Lanka, as the crisis-hit island nation's prime minister on Saturday wrapped up a visit to Beijing to try to finalise a debt restructuring deal. China had agreed "in principle" to restructure Sri Lanka's debt in December, but neither Colombo nor Beijing had given details and the two are yet to finalise an agreement ..read more

As the risks became clearer, political and corporate leaders pledged to keep global average temperatures to no more than 1.5 degrees Celsius higher than before the Industrial Revolution. But for several months last year, the world briefly passed that threshold, sooner than many scientists expected ..read more

At the heart of this is a new contract that the airline has offered to its pilots as part of the merger process with Air India. It offers fixed pay for 40 hours instead of the existing 70 hours ..read more

Taken together, higher average inflation and a neutral rate of 1% to 1.5% would imply a long-term federal funds rate of 3.5% to 4.0%. So while the Fed’s projections for 2024 look likely to be more accurate than the market’s at the start of the year, this time around it’s the central bank, not the market, that will probably have to adjust ..read more

Bank loans to exporters have reached a 12-month high, driven by renewed global demand for Indian goods despite the Red Sea crisis. Outstanding export credit for Indian banks stood at Rs 20489 crore, up 5% this financial year, the highest since February last year. India's merchandise exports surged 11.9% year-on-year in February to $41.4 billion, the fastest growth since June 2022, indicating sustained momentum. Exports of drugs, pharmaceuticals, engineering goods, and chemicals saw significant growth, while gems and jewellery exports declined ..read more