GRSE secures $54 million order, Centre upgrades PSU to 'Schedule A' category
Sep 19, 2024, at 08:39 pm
New Delhi/IBNS: The government on Wednesday (Sept. 18) upgraded shipbuilding and defence Public Sector Undertaking (PSU) Garden Reach Shipbuilders and Engineers Ltd. (GRSE) from Schedule ‘B’ to Schedule ‘A’ Central Public Sector Enterprise (CPSE), reports said.
India surpasses China in world's largest investable stock index
Sep 19, 2024, at 07:51 pm
New Delhi/IBNS: India has surpassed China in its weighting within one of the world’s largest stock market benchmarks, as increased share sales and liquidity make Indian companies more accessible to global investors, reports Financial Times.
US Fed cuts interest rates by 50 bps, first reduction since 2020
Sep 19, 2024, at 07:35 pm
Washington/IBNS: The US Federal Reserve, popularly known as the Fed, has reduced its key lending rate by half a percentage point, marking the first cut since the Covid-19 pandemic in 2020, just weeks ahead of November’s presidential election.
Sep 19, 2024, at 06:07 pm
Pune/IBNS: Ernst & Young India has responded after a 26-year-old employee in Pune died due to "work stress" as claimed by her family, media reports said.
Arya.ai founder to create global open source community to boost Safe Super Intelligence ecosystem
Sep 19, 2024, at 06:23 am
A groundbreaking initiative is set to expedite the Artificial General Intelligence (AGI) landscape with the launch of a new collaborative group aimed at building a Safe Super Intelligence (SSI)
Arunangshu Sarkar joins the ONGC Board as first-ever Director of Strategy & Corporate Affairs
Sep 19, 2024, at 06:15 am
New Delhi: Arunangshu Sarkar has joined the ONGC Board as the company’s first-ever Director (Strategy & Corporate Affairs), effective September 17, 2024.
Amazon India veteran Samir Kumar to take over as its head of India consumer business
Sep 19, 2024, at 06:04 am
Mumbai: Samir Kumar, who has been with Amazon for 25 years, will take over as head of its India consumer business following the resignation of Manish Tiwary, the company announced on Wednesday.
NTPC Green Energy submits draft papers for $1.2 billion IPO: Report
Sep 19, 2024, at 05:20 am
New Delhi: NTPC Green Energy, a subsidiary of state-owned power producer NTPC, filed draft papers on Wednesday for an initial public offering (IPO) worth Rs100 billion ($1.19 billion) as it seeks to capitalize on India's renewable energy expansion and a booming stock market, Reuters reported.
Govt raises MSME lending target to Rs 27.5 lakh cr for FY25
Sep 19, 2024, at 04:39 am
New Delhi: The Union government has raised its lending target for Micro, Small, and Medium Enterprises (MSMEs) to Rs 27.5 lakh crore for FY25, marking an increase of over 10% compared to the previous year, media report said.
IREDA gets nod for Rs 4,500 cr fundraise via QIP route; govt to offload 7% stake
Sep 19, 2024, at 02:35 am
New Delhi: The Indian Renewable Energy Development Agency (IREDA) has received approval from the Department of Investment and Public Asset Management (DIPAM) to raise up to Rs 4,500 crore through a fresh equity share issue via a Qualified Institutional Placement (QIP).
Tata Power to invest up to $9 billion in expanding renewable energy capacity
Sep 18, 2024, at 08:17 pm
Mumbai/IBNS: Tata Power plans to invest up to $9 billion to more than quadruple its renewable energy capacity to over 20 gigawatts (GW) within the next five to six years, Reuters reported on Tuesday, citing the company's CEO Praveer Sinha.
Reliance Power settles Rs 3,872 crore in obligations, achieves debt-free tag
Sep 18, 2024, at 07:41 pm
Mumbai/IBNS: Shares of Reliance Power Ltd surged by 5 percent on Wednesday (Sept. 18) after the company announced that it had fully settled its Rs 3,872 crore obligation as a guarantor for Vidarbha Industries Power (VIPL), reports Moneycontrol.
India's wholesale inflation drops for second consecutive month to 1.31% in August
Sep 18, 2024, at 07:17 pm
New Delhi/IBNS: Wholesale inflation in India declined for the second consecutive month, reaching 1.31 percent in August, driven by lower prices for vegetables, food, and fuel, according to government data released on Tuesday.
Sovereign Gold Bonds available for early redemption on September 17
Sep 18, 2024, at 06:15 am
New Delhi: Investors holding an early series of Sovereign Gold Bonds (SGBs) have reason to celebrate, as the returns on these bonds, issued five years ago, have more than doubled, offering substantial rewards, media reports said.
Raymond Lifestyle plans 40-50 new stores in Kolkata and West Bengal over 3 years
Sep 18, 2024, at 06:00 am
Kolkata: Raymond Lifestyle Ltd. (RLL) is looking to expand its footprint beyond the 85-strong ‘The Raymond Shop’ network across West Bengal by adding 40-50 more shops in the next three years.
Govt removes windfall tax on petroleum crude
Sep 18, 2024, at 05:29 am
New Delhi: The Union government has reduced the windfall tax on petroleum crude to zero from Rs 1,850 per metric ton, effective September 18, according to a government notification issued on September 17.
SpiceJet hasn't paid Rs 427 cr in GST, TDS, and PF dues since 2020: Report
Sep 18, 2024, at 05:22 am
Mumbai: Budget airline SpiceJet announced on Tuesday that it failed to pay statutory dues amounting to Rs 427 crore between March 2020 and August 2024, citing its "constrained financial position", media reports said.
UK-based fintech Revolut set to enter India by 2025: Report
Sep 17, 2024, at 10:58 pm
Mumbai: UK-based Revolut, one of Europe's leading fintech companies, is preparing to launch its services in India by 2025, targeting tens of millions of affluent consumers, according to a report by The Financial Times.
Tata Motors and JLR to manufacture EVs in India for the world market: N Chandrasekaran
Sep 17, 2024, at 10:19 pm
Mumbai: Tata Motors and Jaguar Land Rover (JLR) are set to produce electric vehicles (EVs) in India for global markets, according to Tata Sons chairman N Chandrasekaran.
Video showing luxury cars parked at Blinkit and Zomato's Gurugram offices goes viral
Sep 17, 2024, at 09:07 pm
Gurugram/IBNS: A video showing a fleet of luxury cars parked outside the Zomato and Blinkit headquarters in Gurugram has gone viral on social media.
Sep 17, 2024, at 08:28 pm
New York/IBNS: Oil prices surged by nearly 2 percent on Monday (Sept. 16), buoyed by continued disruptions to U.S. Gulf Coast oil production, despite ongoing concerns about demand stemming from weak economic data from China.
Old lending practices a constraint in catering to agriculture sector: RBI deputy governor
Sep 17, 2024, at 08:19 pm
Pune/IBNS: Traditional lending methods fall short in meeting the unique demands of the agricultural sector, necessitating innovative, flexible financial solutions tailored to farmers' needs, Reserve Bank of India's (RBI) deputy governor Swaminathan Janakiraman said.
LIC appoints Infosys to build its NextGen Digital Platform
Sep 16, 2024, at 10:05 pm
Life Insurance Corporation of India (LIC) has undertaken a digital transformation programme named DIVE (Digital Innovation and Value Enhancement). Under DIVE, LIC aims to significantly boost its digital platform with an aim to provide superior experience to its customers, field force, partners and employees.
Adani Group clarifies it did not release any press release on 'Kenya projects'
Sep 16, 2024, at 09:59 pm
India's Adani Group on Monday clarified it has not issued any press statement on its ongoing projects and presence in Kenya.
Amazon India hosts Seller Connect event to help SMBs gear up for festive season
Sep 16, 2024, at 09:54 pm
E-commerce giant Amazon India has successfully hosted its annual Amazon Seller Connect event at JW Marriott in Kolkata with over 100 sellers from Kolkata, and provided them with a platform to engage and interact with its leadership, while covering different nuances of selling online with Amazon.
Flipkart gears up for 11th edition of ‘The Big Billion Days’ with new tech launches
Sep 16, 2024, at 09:50 pm
E-commerce major Flipkart has announced the dates for its highly-anticipated annual flagship event, The Big Billion Days (TBBD) 2024.
Sep 16, 2024, at 09:04 pm
New Delhi/IBNS: India is actively seeking investments from South Korean and Japanese shipbuilders as part of its strategy to become a major global shipbuilding centre, according to a report by Mint.
Bandhan Bank offers up to 8.55 pct interest on Fixed Deposit for 1 year
Sep 16, 2024, at 08:26 pm
Private lender Bandhan Bank on Monday announced that it is offering up to 8.55% interest rate on Fixed Deposit (FD) for the tenure of 1 year, which is one of the best FD interest rates in the banking industry.
India can achieve sustainable growth of up to 8% in the coming years: RBI Governor Shaktikanta Das
Sep 16, 2024, at 08:26 pm
Mumbai/IBNS: Reserve Bank of India (RBI) Governor Shaktikanta Das said India has the potential to achieve sustainable economic growth of up to 8 percent in the medium term.
Mahindra launches Veero, prices start at Rs. 7.99 Lakh
Sep 16, 2024, at 08:20 pm
Automobile major Mahindra & Mahindra Ltd on Monday announced the launch of the Mahindra Veero, starting at Rs. 7.99 Lakh.