The deal will enable Axis Bank to cater to the financial requirements of the unserved and under-served farmers based in the remote regions of the country. “The Bank will offer a wide range of assets and liability products such as farmer loans, gold loans etc,†the company stated in a press release.
The central bank has had to deal with several representations from small customers especially the MSMEs and other retail participants complaining about high foreign exchange transaction charges. FEDAI should supplement RBI's efforts in streamlining and rationalising procedures.
According to CMIE’s weekly labour market analysis, last month saw a marginal improvement in India’s labour participation rate to 39.92% in February compared to 39.8% in January 2023 resulting in an increase in the labour force from 440.8 million to 442.9 million.
In five districts of Bilaspur, Hamirpur, Mandi, Shimla and Sirmaur up to 33 per cent of Rabi crops have been damaged. The total loss to the crop was estimated at Rs 9,462 lakh rupees so far in ten out of 12 districts in the state barring the tribal areas of Kinnaur and Lahaul and Spiti, a spokesman of the Agriculture department said.
While it isn’t illegal to register businesses in low-tax jurisdictions like Mauritius, the allegations around the offshore shell firms appear to be a throwback to a time when the tourist paradise featured in a slew of other Indian corporate controversies since the late 1990s. The biggest of them was a stock market scandal that saw a broker drive up prices of select shares between 1998 and 2001.
The Food Corporation of India (FCI) has sold around 0.54 million tonnes of wheat out of the allocated 1.15 million tonnes to be sold through the Open Market Sale Scheme (OMSS) to traders, states, and other bidders. However, the prices of wheat are higher than last year during the same time. A kilogram of wheat cost ₹30.31 on March 6 against ₹25.67 on the same day last year, according to official data.
The National Statistical Office, in its second advanced estimate, has retained GDP growth at 7 % for the full year, which factors in a growth of 5.1 %. However, the agency sees many downside risks to this estimate, such as the pent-up demand, which had provided thrust to growth, is normalising; exports that had been buoyant are facing headwinds from the global slowdown and credit growth is facing tighter financial conditions.
"Farmers are requested to bring their good quality and dried stock to the procurement centres to avail better rates at these centres," the ministry said.
India is the world's third largest importer of oil and imports from Russia has gone up after Europe shunned Moscow's supplies following its invasion of Ukraine begun. Indian customers have paid for most Russian oil in non-dollar currencies, including the United Arab Emirates dirham and more recently the Russian rouble, multiple oil trading and banking sources said.