-Hindustan Times Prayagraj, or the erstwhile Allahabad, tops this unemployment list with an unemployment rate of 8.9%. It’s no Mere coincidence that Uttar Pradesh’s Prayagraj has the dubious distinction of being the city with the highest unemployment rate in the country. Government record shows that a whopping 1.5 lakh unemployed youth are in the queue of those hunting jobs which are few and far in between. The National Sample Survey Organisation (NSSO) in...
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Sensex slips 769.88 points after heavy selloff in banking, energy and auto stocks
-The Telegraph/ PTI Among top losers were ICICI Bank, Vedanta, HDFC, Tata Motors, Tata Steel, ONGC, IndusInd Bank, NTPC, M&M and L&T The sensex nosedived 769.88 points to end at 36,562.91 and the Nifty tanked 225.35 points to 10,797.90 today after heavy selloff in banking, energy and auto stocks as a slew of macroeconomic data releases suggested a worsening economic slowdown. Top losers in the sensex pack included ICICI Bank, Vedanta, HDFC, Tata...
More »Why India's mega bank Mergers move may not yield the desired results -Mythili Bhusnurmath
-The Economic Times Government’s forced mega Merger of public sector banks could scupper economic recovery. I am not saying we maintain a Panglossian countenance, that we smile away every difficulty. But, in any real economy, the mood is very important,’ observed Reserve Bank of India governor Shaktikanta Das, speaking at an event in Mumbai late August. Sound advice. Sentiment matters. Irrational despondency can be as damaging for the economy as ‘irrational exuberance’. But...
More »RSS' labour wing opposes bank Merger, says govt hasn't learnt from earlier mistakes -Ramesh Babu
-Hindustan Times The Bharatiya Mazdoor Sangh (BMS) said it will support the agitation being planned by United Front of Banking Unions against the government’s decision to Merge ten banks. Thiruvananthapuram: The Bharatiya Mazdoor Sangh (BMS), labour wing of the RSS on Saturday criticised the bank Merger plan announced by Union Finance Minister Nirmala Sitharaman saying it was done without any study and it will only protect interests of corporate houses. “No serious...
More »What is behind the GDP growth falling to 5% -Radhika Merwin
-The Hindu Business Line Apart from slowdown in manufacturing and construction, the steep decline in consumption is a big cause for worry Even as the Centre’s big bank Mergers detracted the attention briefly from the much-awaited GDP growth numbers for the April-June quarter, the sharp slowdown drew the market’s attention back to the immediate issue at hand. The Central Statics Office (CSO) revealing that the real GDP growth in Q1 of the...
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