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Operational independence of central banks important, says IMF

WASHINGTON: Operational independence is important for a central bank to carry out its responsibilities, a senior IMF official has said, amidst the growing debate in India over the RBI’s autonomy following Urjit Patel’s resignation as its governor.

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Software market expected to register 14% growth : IDC

NEW DELHI: Riding on Digital Transformation (DX) initiatives, India’s software market is expected to register an year-on-year (YoY) growth of 14.1 per cent by the end of 2018, a new report by International Data Corporation (IDC) said on Friday.

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Differences either get settled or Governors make way: Jaitley

IANS   MUMBAI Admitting to differences with Urjit Patel, who quit as RBI Governor, Finance Minister Arun Jaitley on Thursday said the government is the sovereign body for managing the economy and RBI Governors have exited if differences were not settled. “If you look at the history of the RBI, you had several incidents in the past where governments have …

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Petrol prices increase after two months

IANS   MUMBAI After declining for nearly two months, petrol prices rose marginally on Thursday across three of the four metro cities in the country. The increase comes after the prices of the fuel declined over 15 per cent in the last two months from the highs recorded in mid-October. In Delhi, petrol was priced at Rs 70.29 per litre, …

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Solar system policy: suppliers, contractors seek clarity

NT NETWORK   PANAJI With December 17, as the deadline for suggestions to the proposed amendments in the state solar policy, local suppliers and contractors of solar systems are seeking clarification on the amendment that relates to net metering for small prosumers (consumer-cum- producer) of solar power. The amendment states that, small prosumer will be allowed to go for net …

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Vivo announces `4,000 crore investment for new UP plant

IANS   NEW DELHI Chinese smartphone maker Vivo on Thursday announced an additional investment of Rs 4,000 crore over a period of four years for opening a new manufacturing plant on the Yamuna Expressway in Uttar Pradesh that will generate 5,000 jobs in its first phase of expansion. The new 169-acre land has been acquired near the existing 50-acre manufacturing …

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RERA Act awareness in state is poor, says authority

NT NETWORK   PANAJI While the Goa Real Estate Regulatory Authority (RERA) rules are in force for more than a year now, not many home buyers in the state are alert to the potential of RERA, according to the state RERA authority, Sudhir Mahajan. On Wednesday, Mahajan, revealed that, although 350 housing projects and over 50 real estate agents are registered …

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ECONOMIC SCAN

Saraswat Co-operative Bank launches  ‘banking services on WhatsApp’ MUMBAI: Saraswat Bank has become the second bank in India to go live on WhatsApp channel for notifications and Bot services and the first to do so in co-operative sector. Facebook-owned WhatsApp messaging platform has recently launched a ’WhatsApp for Business’ service, which uses software interaction in response to user initiation to send notifications like text messages, boarding passes, …

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November retail inflation slumps to 17-month low on easing food prices

PTI   NEW DELHI Retail inflation plunged to a 17-month low in November at 2.33 per cent, mainly on account of decline in prices of kitchen essentials like vegetables, eggs and pulses. Retail inflation, which is calculated on the consumer price index (CPI), for October this year has been revised slightly up at 3.38 per cent from 3.31 per cent …

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