NEW DELHI: The micro finance institutions (MFIs) industry in India has witnessed a skyrocketing growth of more than 2,176 per cent in the past 12 years, with its business soaring from Rs 17,264 crore in March 2012 to Rs 3.93 lakh crore as of November 2024. This was highlighted during a meeting chaired by M…
NEW DELHI: India’s services sector growth reached a four-month high in December, driven by a surge in new business inflows on strong demand conditions, and a reduction in inflationary pressures, according to a monthly survey released on Monday.The seasonally adjusted HSBC India Services Business Activity Index rose to 59.3 in December, up from 58.4 in…
Syria’s finance minister said on Sunday the government would hike salaries for many public sector employees by 400% next month after completing an administrative restructuring of ministries to boost efficiency and accountability. The increase, estimated to cost 1.65 trillion Syrian pounds, or about USD 127 million at current rates, will be financed by existing state…
NEW DELHI: Businesses in India’s household durables segment are expected to see some moderation in revenue growth in the just-concluded October-December quarter, asserted HSBC Global Research in a thematic report ahead of the impending earning updates.The global financial services group attributed continued unexciting consumer demand environment to climatic conditions — extended monsoon season and delayed…
NEW DELHI: Growth in the country’s eight key infrastructure sectors rose to a four-month high in Nov, led by cement, coal and electricity sectors. Data released by the commerce and industry ministry on Tuesday showed the eight core sectors, spanning coal, crude oil, natural gas, petroleum/refinery products, fertilisers, steel, cement and electricity grew 4.3% in…
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…
NEW DELHI: India is poised to achieve new heights in foodgrain production in 2025, driven by favourable monsoon, though significant challenges persist in pulses and oilseeds production as the country’s agricultural sector shows signs of robust recovery. The Agriculture Ministry’s initial projections paint an optimistic picture, with kharif (summer) foodgrain production estimated at a record…
NEW DELHI: India’s electronics industry is on the brink of a transformative phase as it targets USD 500 billion in manufacturing output by 2030, according to TeamLease report.Achieving this goal will require the sector to expand fivefold in the next five years, addressing a USD 400 billion production gap. Presently, the industry’s domestic production stands…
The year 2024 has been a rollercoaster for the Indian education system. On one hand, Indian universities continued to make their mark globally. Institutions like the Indian Institute of Science (IISc), various Indian Institutes of Technology (IITs), and other premier institutes climbed higher in international rankings. The QS World Rankings 2025 recognized several Indian universities…
HYDERABAD: The Telangana govt has inked a Memorandum of Understanding (MoU) with ITServe Alliance, one of the largest associations of IT companies in the United States, with an eye on creating 30,000 new jobs in Tier-2 and Tier-3 towns of the state as part of the govt’s bid to decentralise It sector growth.As part of…