world bank | Pixr8 News

17Apr By Lavina TolaniNo Comments

INDIA

World Bank predicts 7.3% growth for India in 2018

The World Bank has predicted a growth rate of 7.3 percent for India for the current year and 7.5 percent for 2019 and 2020 and has observed that Indian economy has recovered from the effects of demonetization and Goods and Service Tax (GST). In its South Asia Economic Focus Meet held twice a year, World Bank said, Growth is expected to step up from 6.7 in 2017 to 7.3 percent in 2018 and will subsequently get stabilize supported by a sustained recovery in private investment and private consumption. In its report, it was also stated that India should now strive to advance investments and exports so that it can benefit from its recovery in global growth. Within the Indian section of the report, the bank also approved that disruptions from demonetization and implementation of GST creat...

Know What is a ‘Ponzi Scheme’ and Who was the Man behind it?

12Feb By RishabhNo Comments

BLOGS

Know What is a ‘Ponzi Scheme’ and Who was the Man behind it?

In a recent interview, the World Bank Group President Jim Yong Kim compared Bitcoins to a "Ponzi Scheme" that once again triggered questions on the legitimacy of the world's most popular cryptocurrency. “In terms of using Bitcoin or some of the cryptocurrencies, we are also looking at it, but I’m told the vast majority of cryptocurrencies are basically Ponzi schemes. It's still not really clear how it's going to work,” he said in an interview. The cryptocurrency, that has been soaring since 2017, has seen not so great start in this year and had reduced to one-third of its peak value nearly in just two months. The World Bank is looking closely at the blockchain technology and hopes that it could be used by developing countries to "follow the money more effectively" and regulate co...

Economic Reforms To Help Support Long-Term Growth: BMI Research

7Nov By Press Trust of IndiaNo Comments

ANALYSIS

Economic Reforms To Help Support Long-Term Growth: BMI Research

India is expected to remain one of the fastest growing emerging markets with real GDP growth averaging 6.5 per cent over the next five fiscals, though bureaucratic inefficiencies will continue to cap the countrys growth potential, says a report. According to a report by BMI Research, a Fitch Group company, while India's ease of doing business ranking has improved, significant bureaucratic inefficiencies are likely to cap the country's growth potential further. "We believe that the ongoing economic reforms and improvements to the business environment will continue to support India's economic growth over the coming years, and we expect the country to be one of the best performing emerging market economies, with real GDP growth set to average 6.5 per cent over the next five fiscal years,"...

India Jumps 30 Places Up, In Top 100 World Bank’s Ease Of Doing Business Rankings

31Oct By PriyankaNo Comments

INDIA, News

India Jumps 30 Places Up, In Top 100 World Bank’s Ease Of Doing Business Rankings

India has jumped 30 places up massively and made its place at 100 in the World Bank's ease of Doing Business. India has secured its place in the Top 100 list for the first time, driven by reforms in access to credit, power supplies and protection of minority investors. Doing Business in India has become much easier now as per the report over the past one year. The list shows 190 countries which is an influential barometer of competitiveness among countries that likely also helps businesses make investment decisions. “India’s performance is not based on efforts of just one year but consistent efforts made over the last three years to continuously improve the regulatory environment of doing business,” Annette Dixon, vice president South Asia, told a press conference. India is the only l...

BlackBuck Raises $7.6M Venture Debt From InnoVen

18Oct By RishabhNo Comments

FUNDING

BlackBuck Raises $7.6M Venture Debt From InnoVen

B2B logistics startup BlackBuck, operated by Zinka Logistics Solutions has raised around Rs 50 crore ($7.6 million) from InnoVen Capital, venture debt arm of Singapore's Temasek. The development will be used to expand its service offerings. “The funds will get ploughed into the growth of the organization, which is typically around people, processes and product. We plan to penetrate deeper... and expand our offering to other services,” said Rajesh Yabaji, co-founder and chief executive at Blackbuck, adding that the firm looked at venture debt as a means to diversify its sources of funding. “For us it was about trying out different sources of capital. At different phases, access to different sources of capital has opened up for us. Venture debt is one of the things we wanted to try. Inn...

27Oct By Press Trust of IndiaNo Comments

INDIA

Indian Industry Body CII is Not Happy With World Bank’s Doing Biz Ranking of India

Expressing "surprise and disappointment" over India's ranking in the World Bank's ease of doing business index, industry body CII said it has not captured key reforms undertaken by the government. "We are a little surprised by the ranking," CII Director General Chandrajit Banerjee told reporters here. India's ranking of 130th is not in tandem with the effort's being made by the government to improve business environment in the country, he said. CII Past President Sunil Kant Munjal said: "This result was surprising and disappointing because one can see the kind of work happening in the government". In the World Bank's latest 'Doing Business' 2017 report, India's place remained unchanged from last year's original ranking of 130 among the 190 economies that were assessed on various p...

Automation Threatens 69% Jobs in India: World Bank

7Oct By Press Trust of IndiaNo Comments

News

Automation Threatens 69% Jobs in India: World Bank

Automation threatens 69 per cent of the jobs in India, while 77 per cent in China, according to a World Bank research which has said that technology could fundamentally disrupt the pattern of traditional economic path in developing countries. “As we continue to encourage more investment in infrastructure to promote growth, we also have to think about the kinds of infrastructure that countries will need in the economy of the future. We all know that technology has and will continue to fundamentally reshape the world,” World Bank president Jim Kim said. “But the traditional economic path from increasing productivity of agriculture to light manufacturing and then to full-scale industrialisation may not be possible for all developing countries,” Mr. Kim said in response to a question at the ...

50 Companies Keen on Associating With Postal Bank: Ravi Shankar Prasad

21Aug By Press Trust of IndiaNo Comments

INDIA

50 Companies Keen on Associating With Postal Bank: Ravi Shankar Prasad

Around 50 companies including global banking institutions, like the World Bank, Deutsche Bank and Barclays, have expressed eagerness to be associated with the Centres postal payments bank initiative, Union Minister Ravi Shankar Prasad said today. "We will begin postal payments banking service from September 16, wherein 1.3 lakh postmen will be given hand-held devices, a moving ATM to provide banking services, insurance, money-order, as well as third-party service," Information Technology Minister said after inaugurating an incubation centre at the Software Technology Parks of India (STPI) here. "Some 50 companies, including World Bank, Deutsche Bank, Swiss Bank, Barclays, want to be associated with us," said the senior BJP leader. The Union Cabinet in June had cleared the ...