NEWS ON AIR Website cell, IT Unit, NSD, All India Radio, New Broadcasting House, New Delhi, India ? 2006 All rights reserved. All India Radio AIR International News Exports up 3.93% in May; trade deficit widens to 15.36 bn dollars BNE India's exports grew by 3.93 per cent to around 30 billion dollars in May on account of healthy growth in sectors such as chemicals, pharmaceuticals and engineering. FDI flows to India grew 6% in 2018 to 42 billion: UN report BNE A UN report said, Foreign Direct Investment to India grew by 6 percent to 42 billion dollars in 2018, with strong inflows in the manufacturing, communication and financial services sectors, and cross-border merger and acquisition activities. Sensex drops 186 points to trade at 39,571; Nifty to trade at 11,851 BNE At the stock markets, the Sensex at the Bombay Stock Exchange dropped 186 points, or 0.5 per cent, to trade at 39,571, a short while ago. Sensex falls 194 points to end at 39,757 BNE Domestic stocks today declined around half a per cent amid negative global cues. RBI constitutes committee to review ATM pricing BNE The Reserve Bank of India has constituted a six-member committee to review the entire gamut of ATM charges and fees. RBI waives off charges for transactions using NEFT, RTGS BNE With an aim to encourage digital transfer of funds, the Reserve Bank has waived off all charges for transactions using National Electronic Funds Transfer - NEFT and Real Time Gross Settlement - RTGS systems. GST council to introduce new GST return system BNE The GST Council has decided to introduce a new GST return system to facilitate taxpayers. Sensex up by127 points ; Nifty adds 43 points BNE At the stock markets, paring its solid gains posted in the opening session, the Sensex at the Bombay Stock Exchange rose 127 points, or 0.3 percent, to trade at 39,743, a short while ago. India pitches for promoting MSMEs in developing countries BNE India today pitched for promoting micro, small and medium enterprises, MSMEs in developing countries as they are important for employment and income generation. Intensifying trade tensions pose risk for global economy: World's top financial policymakers BNE The world's top financial policymakers today admitted that intensifying trade tensions pose a risk for the global economy. Imports from Pakistan to India decline by 92% in March BNE Imports from Pakistan to India has declined by 92 per cent to 2.84 million US dollars in March this year after imposition of 200 per cent customs duties on all products following Pulwama terror attack. Forex reserves increase by 1.8 billion to 421.8 billion BNE The country's foreign exchange reserves increased by USD 1.875 billion to USD 421.867 billion in the week ending May 31. Industry body welcomes RBI decision of reducing the repo rate BNE The industry body has welcomed the RBI decision of reducing the repo rate by 25 basis points to 5.75 per cent from six per cent. Piyush Goyal leads Indian delegation to G20 Ministerial meeting in Japan BNE Commerce and Industry Minister Piyush Goyal is leading the Indian delegation for the two-day G20 Ministerial meeting on Trade and Digital Economy beginning at Tsukuba city in Japan today. Country should move away from subsidies to easy availability of cheaper credit to exporters, says Piyush Goyal BNE Commerce and Industry Minister Piyush Goyal has said, timely and efficient availability of export credit is critical for any trade activity and is one of the key drivers that boost the growth of export. RBI issues new guidelines for resolution of bad loans BNE The Reserve Bank has issued a new framework for resolution of bad loans, offering a 30-day gap for stress recognition instead of the one-day default earlier. RBI reduces repo rate by 25 basis points; Industry bodies welcome the decision BNE The Reserve bank of India in its bi-monthly monetary policy review today reduced the repo rate by 25 basis points to 5.75 per cent from 6.0 per cent with immediate effect. Azim Premji to retire as Executive Chairman of Wipro in July BNE IT Industry icon Azim Premji will retire as Executive Chairman of Wipro with effect from 30th July this year. He led the company for 53 years. RBI pegs inflation rate at 3.0-3.1 % for April-September & 3.4-3.7 % for October-March period BNE The RBI has pegged the inflation rate at 3.0-3.1 per cent for April-September and 3.4-3.7 percent for the October-March period. India to grow at 7.5 per cent during next three years: World Bank BNE The World Bank has forecast that India's economy is projected to grow at 7.5 per cent in the next three years, supported by robust investment and private consumption. FDI in services sector grows 37 pc to 9.15 bn in 2018-19 BNE Foreign direct investment in services sector grew 36.5 per cent to 9.15 billion US dollars in 2018-19 fiscal. RBI releases report on Benchmarking India's Payment Systems BNE The report on 'Benchmarking India's Payment Systems’ which was released on Tuesday mentions that the country is "strong" in areas like having necessary laws and cash in circulation per capita. Indian Railways place order for 25 electrical locomotives from BHEL BNE Indian Railways have placed a significant order for 25, more energy efficient, retro fitted electrical locomotives from the public sector Bharat Heavy Electricals Limited (BHEL). India, China to account for half of air traffic growth in two decades: IATA BNE International Air Transport Association, IATA, has said that India and China are projected to account for nearly half of the air passenger growth worldwide over the next two decades, with travellers coming from all walks of life. Overseas investors pump over Rs 9,000 crore into Indian capital markets in May BNE Overseas investors pumped more than 9,000 crore rupees into the Indian capital markets in last month on expectations of more business-friendly measures following the BJP's landslide victory in the general elections. ONGC topples IOC to regain most profitable public sector company BNE ONGC, India's top oil and gas producer, has toppled Indian Oil Corp (IOC) to regain crown of being the country's most profitable public sector company. Intensifying US-China trade war to bog down airline profits in 2019: IATA BNE The intensifying US-China trade war and rising fuel prices will continue to bog down airline profits this year. GST revenue collection crosses Rs One lakh cr in May BNE The GST revenue collection has crossed one lakh crore rupees in May this year, which is a growth of 6.67 per cent over the revenue collected in the same month last year. Forex reserve rises by 1.99 billion to 419.99 billion BNE India's foreign exchange reserves increased by 1.994 billion to 419.992 billion US Dollar in the week ended 24th May 2019. G20 digital tax takes step closer BNE Global efforts to impose a unified tax policy on Google, Facebook and other internet giants have cleared a major hurdle ahead of a G20 summit in Japan. GDP growth slows to five-year low at 5.8% in January-March quarter BNE India's economic growth rate slowed to five-year low of 5.8 per cent in January-March 2018-19, due to poor performance in agriculture and manufacturing sectors. Rupee up by 17 paise to close at 69.70 against dollar BNE Snapping its three-session losing streak, the rupee today rose by 17 paise to close at 69.70 against the US dollar on weakening of the greenback in overseas markets and easing crude oil prices. Growth of core infrastructure sectors slows to 2.6 pc in April BNE The growth of eight core infrastructure sectors slowed down to 2.6 per cent in April this year, due to negative growth in crude oil, natural gas and fertilizer output. Sensex down by 118 points; ends at 39,714 BNE Domestic stocks today closed with modest losses amid negative cues from Asian markets. FICCI survey forecasts India's GDP growth at 7.1% for FY20 BNE The country's median GDP is forecast at 7.1 per cent for FY20 and 7.2 per cent for FY 21. RBI extends RTGS timings from 4:30 pm to 6 pm BNE To facilitate high-value fund transfers, the Reserve Bank of India (RBI) has announced an extension of timings for customer transactions through Real Time Gross Settlement (RTGS) by one and half hours from 4:30 PM to 06 PM. BHEL net profit jumps 50.7% to Rs 1,215 crore in FY19 BNE The public sector giant Bharat Heavy Electricals Limited (BHEL) has posted a quantum jump in profits and has recommended a final dividend of 60% during the financial year 2018 - 19. CBDT extends compliance date of TDS for Odisha BNE The Central Board of Direct Taxes, CBDT, has extended the compliance date of Tax Deduction at Source, TDS, for Odisha. ILFS crisis: ED conducts fresh raids in Mumbai BNE The Enforcement Directorate today carried out fresh searches in Mumbai in connection with its money laundering probe in the multi-crore Infrastructure Leasing & Financial Services, IL&FS, payment default crisis. High-level committee submits its recommendations on crude oil imports BNE A High-Level Committee constituted by the Centre has submitted its recommendations to bring down India’s dependence on crude oil imports. India to grow at 7.1% in FY'20: United Nations' report BNE A report by the United Nations says India's economy is projected to grow at 7.1 per cent in the fiscal year 2020 on the back of strong domestic consumption and investment. CSIR-NPL introduce Redefined International System of Units BNE Council of Scientific and Industrial Research and National Physical Laboratory, CSIR-NPL, today introduced redefined International System of Units for the country, on World Meterology Day. Pakistani rupee tumbles to fresh life-time low against dollar BNE Pakistani rupee tumbled to a fresh life-time low of Rs 150 per dollar today amid rising demand for the greenback. Advisory Council of the 15th Finance Commission meet held today BNE The third meeting of the Advisory Council of the 15th Finance Commission was held in New Delhi today. India’s overall exports registered positive growth of 1.34% in April this year BNE India’s overall exports, combining Merchandise and Services, in April this year is estimated to be around 44 billion US dollars with a positive growth of 1.34 per cent over the April last year. Indian Bank posts net loss of Rs 190 cr in Q4 on higher NPA provisioning BNE The public sector Indian Bank has registered a loss of 189.77 crore rupees in the last quarter, as compared to its previous quarter. Asian shares fall to three-and-a-half month low BNE Asian shares fell to a three-and-a-half month low amid US-China trade war. Chinese markets that were pummeled in early trade trimmed losses amid signs of state support. India's retail inflation picks up to 2.92% in April BNE Retail inflation rose marginally to 2.92 per cent in April this year, mainly due to the rise in food prices.