Financial Times

Funds From Punjab & Maharashtra Cooperative Bank The promoters of Housing Development & Infrastructure Ltd. (HDIL) reportedly   conveys for funds to Punjab & Maharashtra Cooperative Bank by using overdraft facilities and the money was “disguised” as loan accounts by bank officials, according to the probe by the Economic Offences Wing of the Mumbai Police.  WHO IS HDIL? HDIL (Housing Development and Infrastructure Limited) is a listed real estate development company in India, which generally operates in the Mumbai Metropolitan Region. HDIL's business generally focus activities related to Real Estate Development, which includes construction and development of residential projects and, more recently, commercial and retail projects, Slum Rehabilitation and Development, including clearing slum land and rehousing slum dwellers, and Land Development, including development of infrastructure on land which the company then sells to other property developer

India GDP Analysis by Moody's Moody's Corporation, often referred to as Moody's, which is an American business and financial services company. It’s Investors Service on Thursday cut India’s gross domestic product (GDP) growth forecast for 2019-20 to 5.8% from the earlier estimate of 6.2%. It believes that something led to an investment-led slowdown that has made wide consumption, driven by financial stress among rural households and weak job creation. It expects growth to pick up to 6.6% in FY21 (fiscal year) and around 7% over the medium term. India’s economic growth slumped to a six-year low of 5% in the April-June quarter and, according to the Reserve Bank of India (RBI), is likely to be near this trough at 5.3% in the July-September quarter. The central bank had last week cut the country’s growth forecast for FY20 to 6.1% from 6.8% estimated earlier. With the recently announced corporate tax cuts and lower nominal GDP growth, it expects a cent

What is Foreign Exchange Reserve? Foreign exchange reserves  are assets held on  reserve  by a central bank in  foreign currencies . These  reserves  are used to back liabilities and influence monetary policy. Forex Market In India The foreign exchange reserves touched a record high of US $434.6 billion as on October 1.While announcing fourth bi-monthly monetary policy, the RBI Governor Shaktikanta Das said as of October 1 the Forex kitty peaked to the record high.  Between April and October 1, the country's Forex reserves had increased by US $21.7 billion. FCA(Foreign currency Asset)  increased by US $4.944 billion to US $401.615 billion in the week ended September 27, the RBI said.Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in the foreign exchange reserves. The special drawing rights with the International Monetary Fund dipped by US $7

In today's time, many company's and countries are investing in India, which is a very good sign for us. Relations in other fields is also becoming better.  Just few days ago, a news stats that Saudi Arabia is investing US $100 billion  in India in the fields of oil,gas and mining. As we know that, Saudi Arabia has been a big supplier of crude oil and LPG gas from the beginning. They produce almost  17% of Crude oil and 32% of LPG gas in a year around Globe. Saudi Arabia ambassador has said in his interview - "Saudi Arabia is looking at making investments in India potentially worth US $100 billion in the areas of energy, refining, petrochemicals, infrastructure, agriculture, minerals and mining." Oil and Gas Business in Saudi Arabia Saudi Arabia's biggest oil giant Aramco's proposed partnership with Reliance Industries Ltd reflected the strategic nature of the growing relations between both the nation's.  Saudi Aramco's propose