Latest News

India should retain headline inflation as target, RBI external rate panel members say

MUMBAI, Aug 23 (Reuters) – Headline inflation impacts Indians directly and should be retained as the target for monetary policy rather than switching to core inflation, external members of the RBI’s rate panel told Reuters. A suggestion was made in the government’s official annual economic report last month to target inflation excluding volatile food prices, which are driven more by supply shortages. The idea has ignited a debate in India over the appropriate target for monetary policy. India adopted the inflation targeting framework in 2016, setting a 4% headline inflation target for the central bank’s rate setting panel. The target

Adani Power Has $800 Million in Unpaid Dues From Bangladesh

Aug 23, 2024 (Bloomberg): Billionaire Gautam Adani’s power generating unit has raked up unpaid dues of as much as $800 million from Bangladesh, where weeks of violent protests left hundreds dead and forced out the previous administration this month. The South Asian country owes this sum to Adani Power Ltd., part of the Indian mining-to-media conglomerate, for electricity supplied by its coal-fired plant in the Godda district of the eastern state of Jharkhand, Bangladesh Bank’s newly-appointed Governor Ahsan H. Mansur told Bloomberg News in an interview. “If we don’t pay them, they will stop providing electricity,” he said. While the

21 dead as bus carrying Indian tourists plunges into Nepal river

KATHMANDU, Aug 23 (Reuters) – Half of the passengers in a bus carrying 43 Indians died on Friday when the vehicle plunged into a rain-swollen river in neighbouring Nepal, a spokesperson for the Himalayan nation’s armed police said. A total of 21 people died and 22 were injured, Shailendra Thapa, a spokesperson for the armed police said, adding that all 41 passengers and two crew were Indian and headed to capital Kathmandu from the tourist city of Pokhara when the accident occurred. Roads in the mountainous region can challenge drivers as they are often narrow and treacherous, making it tough

14 people killed as Indian-registered bus plunges into river in Nepal

Kathmandu, Aug 23 (PTI) At least 14 people were killed after an Indian-registered passenger bus plunged into the Marsyangdi River in central Nepal on Friday, according to media reports.The bus from Gorakhpur was heading toward the capital Kathmandu from the resort town of Pokhara when it drove off the highway in Aaina Pahara in the Tanahun district. At least 29 passengers have been rescued from the bus with the number plate UP 53 FT 7623. The bus was heading to Gorakhpur from Pokhara via Kathmandu. At least 14 people were confirmed dead in the accident, the report said. Information Officer

1 … 886 887 888 889 890 … 1,222