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Business Economy

Industrial production remains flat at 0.2% growth in September

Posted on Author NewsDesk

The IIP had contracted by 4.6% in September 2019. Industrial production remained flat at 0.2% growth in September, despite higher output of mining and power generation sectors, official data showed on Thursday. According to the Index of Industrial Production (IIP) data, manufacturing sector production registered a decline of 0.6%. The output of mining and power […]
Business Economy

What does the Supreme Court order reinstating virtual currency activities mean?

Posted on Author NewsDesk

The story so far: On Wednesday, March 4, a three-judge Bench of the Supreme Court of India struck down a 2018 circular of the Reserve Bank of India (RBI), which sought to prevent banks and institutions from dealing in “virtual currencies” — also referred to as cryptocurrencies, an example being Bitcoin — and providing services […]
Business Economy

Yes Bank customers scramble for cash withdrawal at branches, most ATMs run dry

Posted on Author NewsDesk

Panicked Yes Bank customers were seen queuing up at the bank’s ATMs at various locations, but to no avail as as most cash-dispensing machines ran dry, after the Reserve Bank placed the crisis-hit lender under a moratorium. However, customers said they were able to withdraw the stipulated amount of ₹50,000 through cheques at various Yes […]

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