The business wrap: IMF projects India to be the fastest-growing economy, and six other top stories
Other headlines: Petrol pumps across eight states will remain shut on Sundays from May 14, and Paytm is reportedly in talks with SoftBank to raise $1.5 billion.
A look at the headlines in this sector right now:
- India to retain tag of world’s fastest-growing economy, says International Monetary Fund: The organisation had earlier pegged India’s growth rate for 2016 at 6.6%.
- Petrol pumps to stay closed on Sundays in eight states starting May 14: These are Tamil Nadu, Kerala, Karnataka, Puducherry, Andhra Pradesh, Telangana, Maharashtra and Haryana.
- Paytm likely to raise $1.5 billion in cash from Japan’s SoftBank, say reports: The start-up may also buyout Snapdeal’s e-wallet firm Freecharge.
- SBI Card will charge you Rs 100 for paying bills under Rs 2,000 by cheque: The rule came into effect from April 1 and is meant to encourage digital transactions.
- IMD’s normal monsoon forecast for 2017 will boost market sentiment, say analysts: With no deficit in rainfall, inflationary pressures will drop and agricultural production will increase.
- US President Donald Trump signs executive order making it harder to get H-1B visas: Indians are the largest recipients of these work authorisations.
- NGT orders shutdown of all industrial units located near Bengaluru’s Bellandur Lake: The tribunal also announced a fine of Rs 5 lakh to be imposed on anyone dumping waste in and around the water body.
