Reserve Bank of India allows resident Indians to open foreign currency accounts in GIFT City
Jul 12, 2024, at 06:16 pm
New Delhi/IBNS: The Reserve Bank of India (RBI) has allowed Indian residents to open foreign currency accounts in Gujarat International Finance Tec-City (GIFT City), widening the scope of remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS).
Budget expectations: Modi 3.0 may propose income tax rate cut, incentives for PSUs
Jul 12, 2024, at 06:08 am
Mumbai: The Indian stock markets are expected to witness volatility over the next two weeks as they anticipate and then react to Finance Minister Nirmala Sitharaman’s budget proposals for the fiscal year 2024-25 (FY25), media reported.
Vedanta announces demerger into six separate entities EBITDA target of $10 billion
Jul 11, 2024, at 11:09 pm
New Delhi: In a major move poised to redefine its market presence and shareholder engagement, Vedanta Ltd. announced the demerger of its conglomerate into six separate entities at its 59th Annual General Meeting on Thursday.
Microsoft quits Sam Altman's OpenAI board amid AI partnerships scrutiny
Jul 11, 2024, at 10:37 pm
Washington/IBNS: American tech giant Microsoft has left the board observer seat at OpenAI which has drawn regulatory scrutiny as the former said that it was not necessary as the artificial intelligence (AI) start-up's governance has improved significantly in the past eight months, reports said.
SEBI committee proposes stricter measures to curb derivatives volume: Report
Jul 11, 2024, at 07:26 pm
New Delhi/IBNS: The Working Committee on Futures and Options of the Securities and Exchange Board of India (SEBI) has proposed several stricter measures to control the rapid rise in derivatives trading volume, reports said.
RBI cautions banks against 'lakhs of accounts' used for fraudulent transactions, loan evergreening
Jul 11, 2024, at 06:47 pm
New Delhi/IBNS: The Reserve Bank of India (RBI) has cautioned banks against having "lakhs of accounts" used for fraudulent transactions and loan accounts' evergreening, media reports said.
Jul 11, 2024, at 06:27 pm
Vijayawada/IBNS: In a bid to "rebuild" his state after storming back to power, Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday held a couple of meetings with an aim to bring investment and create jobs.
Central govt employees may get 50% of their last drawn salary as pension under NPS: Report
Jul 11, 2024, at 06:09 am
New Delhi: As the Finance Ministry prepares to present the full fiscal year budget for 2024-25, the National Democratic Alliance (NDA) government is considering offering central government employees a pension equivalent to 50% of their last drawn salary under the National Pension System (NPS), according to a report by the Times of India.
Jul 11, 2024, at 05:48 am
Mumbai: The Secondary Market Advisory Committee (SMAC) formed by the Securities and Exchange Board of India (SEBI) is scheduled to meet on July 15 to review recommendations from an expert panel focused on futures and options, NDTV profit reported.
Govt receives dividend of Rs 6,481 cr from 4 PSU banks
Jul 11, 2024, at 05:05 am
New Delhi: Four public sector banks, including Canara Bank and Indian Bank, on Wednesday presented dividend cheques worth Rs 6,481 crore to Finance Minister Nirmala Sitharaman for financial year 2023-24.
Yes Bank stake $5 billion sale: First Abu Dhabi Bank PJSC among potential buyers
Jul 11, 2024, at 04:31 am
Mumbai: First Abu Dhabi Bank PJSC is among the potential buyers for a stake valued at approximately $5 billion in India's Yes Bank Ltd, Bloomberg reported citing sources familiar with the situation.
IITs witness fall in placement due to hiring slump: Report
Jul 11, 2024, at 03:32 am
New Delhi: Salaries for engineers graduating this year from the Indian Institutes of Technology (IITs) have declined due to a hiring slowdown. According to separate studies by Deloitte and TeamLease, the annual pay for the class of 2024 is now in the range of Rs15-16 lakh, media reported.
JLR retail sales rises 31% YoY to 1,371 units in Q1FY25
Jul 10, 2024, at 11:21 pm
Mumbai: Jaguar Land Rover (JLR) on Wednesday said that its retail sales rose by 31 percent year-on-year to 1,371 units in the first quarter ending June 30, 2024.
Jul 10, 2024, at 11:03 pm
Atlanta/IBNS: Delta Air Lines, one of the major airlines of the United States, and Riyadh Air, a planned second flag carrier of Saudi Arabia, have signed a Strategic Cooperation Memorandum of Understanding with the goal of introducing a broad range of benefits for customers travelling between North America, Saudi Arabia and destinations beyond.
AMFI data shows equity fund inflows jump by 17% in June to over Rs 40,000 cr
Jul 10, 2024, at 10:58 pm
Mumbai/IBNS: The Association of Mutual Funds of India (AMFI), the nodal association of mutual funds across the country, has reported a 17 percent month-on-month (MoM) rise in equity fund inflows.
Jul 10, 2024, at 10:49 pm
New Delhi: Adani Ports received a big relief as the Supreme Court on Wednesday suspended a Gujarat High Court order that directed the state government to reclaim 108 hectares of grazing land granted to the ports company, media reported.
Adani Power shares slightly up after RIL acquires 26% stake in Mahan Energen's unit
Jul 10, 2024, at 10:08 pm
Mumbai/IBNS: The shares of Adani Power were slightly up on Wednesday (July 10), a day after the company's wholly owned subsidiary Mahan Energen Ltd. (MEL) announced that it has entered into a 20-year power purchase deal for 500 MW with Reliance Industries Limited (RIL).
Indian gaming companies want to distance themselves from fantasy sports: Report
Jul 10, 2024, at 08:15 pm
New Delhi/IBNS: The real-money gaming firms and fantasy sports startups have marketed themselves as video gaming companies for over a decade, but a coalition of more than 70 Indian video game firms is urging the government to create a clear distinction between their industries as these businesses face rising regulatory scrutiny, reports TechCrunch.
Latest RBI job data reveals India's employment growth rate accelerates to 6% in FY24
Jul 10, 2024, at 07:18 pm
New Delhi/IBNS: A data released by the Reserve Bank of India (RBI) on Monday (July 8) showed that nearly 4.67 crore new jobs were created in India during the financial year 2023-24 taking the total number of employed persons in the country to 64.33 crore.
MobiKwik gains market share, becomes largest wallet player
Jul 10, 2024, at 06:54 am
Mumbai: MobiKwik, one of India's largest digital financial products and services platforms, has achieved the largest number of PPI Wallet transactions by value for the months of April and May 2024.
Bandhan Bank launches trade products to facilitate global business transactions
Jul 10, 2024, at 06:27 am
Kolkata: Bandhan Bank Tuesday announced that it has launched an array of trade products to facilitate global business transactions.
Jul 10, 2024, at 05:47 am
New Delhi: The government is contemplating to relax the requirement for making payments to MSMEs within 45 days of purchasing goods and services to prevent large corporations from seeking alternative sourcing options, media reported.
India plans $1 billion investment for hydropower projects in Arunachal Pradesh
Jul 10, 2024, at 04:21 am
New Delhi: India is likely to allocate $1 billion to accelerate the construction of 12 hydropower stations in Arunachal Pradesh, a move likely to heighten tensions with China, which claims the region, Reuters reported.
Mutual fund industry sees record growth in June 2024 with AUM reaching Rs 61,15,581.92 cr
Jul 10, 2024, at 01:46 am
The mutual fund industry's net Assets Under Management (AUM) reached Rs 61,15,581.92 crores in June 2024, showing a significant increase from Rs 58,91,160.48 crores in May 2024.
Paytm gets govt panel's approval to receive China-linked investments for its payments arm: Report
Jul 09, 2024, at 10:21 pm
Mumbai: Paytm, which has been struggling after RBI’s operational restrictions on its payments arm Paytm Payment Bank, has received approval from a government panel overseeing China-related investments to inject 500 million rupees ($6 million) into a significant subsidiary, media report.
Indian Market: Sensex slips 36.22 points
Jul 08, 2024, at 10:11 pm
The Indian equity market witnessed a negative trend for the fourth consecutive session on Monday with BSE Sensex slipping 36.22 points to settle at 79,960.38.
Jul 08, 2024, at 07:17 am
New Delhi: Pursuing its commitment to achieve net zero emissions by 2070, India is gradually transitioning away from fossil fuels and embracing renewable energy sources.
Jul 08, 2024, at 03:17 am
Mumbai: US-based short seller Hindenburg Research shared an early access copy of its report against the Adani Group of companies with New York-based hedge fund manager Mark Kingdon, two months before its publication, allowing realisation of profits from the share price movement, according to the Securities and Exchange Board of India (SEBI), media reported.
Ather showcases its latest electric scooter Rizta in Kolkata, check out the prices
Jul 07, 2024, at 07:28 am
Bengaluru-based electric scooter manufacturer Ather Energy showcased its newly launched Rizta in Kolkata on Saturday, a vehicle designed keeping the family riders in mind.
Modi 3.0 to present Union Budget on July 23
Jul 07, 2024, at 01:55 am
New Delhi: The Union Budget for the financial year 2024–25 will be presented in the Lok Sabha on July 23. The budget session of Parliament is scheduled to take place from July 22 to August 12.