DDIndia Business: Economic Headlines & Updates

Business

January 28, 2025 2:49 PM

RBI may begin rate easing cycle with 25 bps cut, add durable liquidity: Morgan Stanley

The Reserve Bank of India (RBI) is expected to begin its rate easing cycle with a 25-basis point cut in interest rates at the Monetary Policy Committee (MPC) meeting scheduled for February 7, Morgan Stanley said on Tuesday, adding that the central ba...

January 28, 2025 2:21 PM

Semiconductor demand in India to reach 28 pc by 2026 end in AI era

The demand for semiconductors in India in the artificial intelligence (AI) era is likely to increase to 28 per cent by the end of 2026, close to the global expected demand of 29 per cent, according to a report on Tuesday. Majority of downstream orga...

January 28, 2025 2:05 PM

India’s major ports record 3.2 pc rise in cargo during Dec, Deendayal Port leads

India's 12 major ports, owned by the Central government, handled 72.2 million tonnes of cargo in December, recording a 3.22 per cent growth over the same month of the previous year. According to data compiled by the Ministry of Ports, Shipping and W...

January 28, 2025 12:44 PM

UPI’s share in India’s digital payments surged to 83%: RBI report

The share of the Unified Payments Interface (UPI) in India’s digital payments has surged from 34 per cent in 2019 to an impressive 83 per cent in 2024, with a remarkable compound annual growth rate (CAGR) of 74 per cent over the last five years, ac...

January 28, 2025 12:27 PM

India sees 100-fold jump in retail digital payments over 12 years: RBI

Retail digital payments in India have grown from 162 crore transactions in the financial year 2012-13 to over 16,416 crore transactions in the financial year 2023-24 — an approximately 100-fold increase over 12 years, according to a new RBI report....

January 28, 2025 12:20 PM

American AI firms try to poke holes in disruptive DeepSeek

Developers at leading U.S. AI firms are praising the DeepSeek AI models that have leapt into prominence while also trying to poke holes in the notion that their multi-billion dollar technology has been bested by a Chinese newcomer's low-cost alternat...

January 28, 2025 12:15 PM

Number of credit cards more than doubled to 10.8 crore in 5 years, transactions surge: RBI

The number of credit cards has more than doubled to around 10.80 crore at the end of December 2024, compared to December 2019 when there were 5.53 crore cards in circulation, according to a new RBI report. In contrast, number of debit cards has rema...

January 28, 2025 10:30 AM

Nifty, Sensex rebound in early trade as US markets sink amid new AI fears

India's benchmark indices opened higher on Tuesday after ending over seven-month low in the previous trading session. As of 9.33 a.m., the Sensex was 303 points or 0.41 per cent higher at 75,694 while the Nifty 50 went up 70 points or 0.30 per cent ...

January 28, 2025 9:13 AM

China’s AI drive hammers global tech stocks

U.S. stock futures steadied, the dollar ticked higher and tech stocks in Asia slid on Tuesday following a wave of selling as apparent advances by a Chinese AI startup cast doubt on U.S. dominance and spending in one of the market's hottest sectors. ...

January 27, 2025 8:16 PM

RBI plans Rs 1.1 lakh crore liquidity infusion in banking system

The Reserve Bank of India (RBI) has announced a plan on Monday to inject an additional Rs 1.1 lakh crore into the banking system through various measures, including open market purchase auctions of Government securities and a variable rate repo aucti...