HDFC Bank expects an uptick in GDP growth in FY19 to 7.3 pc from the 6.5 pc estimated for FY18, expecting a rural push by Government and rise in consumption.
India's economic growth is likely to be below 7 percent this fiscal, say experts, citing GST disruption and lingering impact of note ban.
Adopting disruptive technology and riding on the Digital India bandwagon, the e-commerce sector has survived the slowdown in 2017 and benefited from the note ban.
Manohar Parrikar said decisions such as demonetisation and the roll-out of the GST could be implemented because of the "bold leadership" of Prime Minister Narendra Modi.
The overall deposits by households increased by 14.14% to Rs 69,13,900 cr as against an 11.20% rise in total deposits with banks to Rs 1,09,43,700 cr, RBI said.
The FinMin said it is difficult to "pinpoint" the impact of demonetisation on the economy and affirmed that there was no stagnation.
M Venkaiah Naidu said the RBI should soon tell people about the benefits derived from demonetisation and the amount of black money deposited in the banks.
To boost non-cash transactions which has been stagnant for some time now following near-full remonetisation, the Reserve Bank rationalised the MDR.
Manmohan Singh welcomed the uptick in the Q2 GDP growth at 6.3 pc but cautioned that it is too early to say there is a reversal in decline seen in the past five quarters.
Arun Jaitley said that the results of Uttar Pradesh civic polls reaffirmed people's support for the GST which has made doing business "easier" for traders.
INDIAN OIL CORPORATION
Board to consider bonus issue on Jan. 30.
HPCL may acquire MRPL in cash and share swap deal
HPCL may buyout ONGC shares which is worth roughly Rs 16,000 Cr
Financial Express Reports
Gets four orders worth Rs 871 Cr
Gets Rs 282 Cr order from APTRANSCO to supply, construct substations
To also set up associated transmission line work for APTRANSCO
Gets Rs 100-cr order from Bangladesh power co, Nepal’s electricity body
Order includes 400 KV double circuit transmission line from Bangladesh
Nepal order includes setting up of 132 KV Transmission Line
Gets Rs 123 Cr order from CORE to commission rail electrification work
Gets pipeline augmentation work in Rajasthan for Rs 366 Cr from a pvt client