NPCI may defer market cap restriction for UPI platforms for 2 yrs: Report
May 10, 2024, at 03:36 am
New Delhi: The National Payments Corporation of India (NPCI), responsible for managing the Unified Payments Interface (UPI), is likely to limit market share for digital payment platforms two years later, according to Reuters.
SBI Q4FY24: PAT grows 24% YoY to Rs 20,698 cr; NII grows 19% to Rs 1.11 lakh cr
May 10, 2024, at 03:27 am
Mumbai: India’s largest lest lender State Bank of India (SBI) on Thursday reported net profit of Rs 20,698 crore, marking a 24 percent year-on-year increase for the fourth quarter of FY 24.
May 09, 2024, at 08:40 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) has allowed Bank of Baroda (BOB) to onboard customers via its 'BOB World' mobile application, following which shares of the public sector bank surged 3.4 percent to Rs 271 per share on Thursday (May 9).
Bridgestone India unveils Dueler All-Terrain 002 tyre
May 09, 2024, at 08:57 am
Kolkata: Bridgestone India has launched the Dueler All-Terrain (A/T) 002 tyre with enhance grip and stability.
China's gold-buying spree triggers global price surge
May 09, 2024, at 05:27 am
Gold's value has historically surged during geopolitical and economic upheavals, and recent events like Russia's invasion of Ukraine and the conflict in Gaza have further boosted its price.
Sixteenth Finance Commission invites suggestions from general public
May 09, 2024, at 04:10 am
New Delhi: The Sixteenth Finance Commission has invited suggestions and views from the public, organizations, and individuals regarding its terms of reference and overall approach.
TVS SCS wins new business deal for Eicher’s bus facility in Madhya Pradesh
May 09, 2024, at 04:07 am
New Delhi: TVS Supply Chain Solutions Limited (NSE: TVSSCS, BOM: 543965), a global supply chain solutions provider and one of the largest, has won a new business contract from VE Commercial Vehicles (VECV) for managing their in-plant warehousing and logistics function at their Eicher bus factory located in Baggad, Madhya Pradesh.
May 09, 2024, at 03:30 am
Mumbai: Godrej Agrovet, a leading player in the agricultural and animal feed industry, reported a significant improvement in its consolidated net profit jumped to Rs 65.48 crore in the March 2024 quarter from Rs 23.47 crore a year ago.
May 09, 2024, at 02:49 am
New Delhi: The Indian Coast Guard (ICG) and Jindal Steel & Power (JSP) signed a Memorandum of Understanding (MoU) on Tuesday in New Delhi for the supply of indigenous marine-grade steel to enhance the indigenous content in shipbuilding.
RBI asks NBFCs to disburse cash loans only up to Rs 20,000: Report
May 09, 2024, at 02:16 am
Mumbai: The Reserve Bank of India (RBI) cautioned non-bank finance companies (NBFC) on Wednesday, advising them against providing cash loans exceeding the permitted threshold of Rs 20,000 ($240), media reported.
National Statistical Commission to be revived as govt appoints two new members: Report
May 09, 2024, at 01:39 am
New Delhi: The National Statistical Commission (NSC), which has been inactive for a year, is gearing up for operation with the appointment of all five members, media reports said.
India poised for higher GDP growth based on domestic strengths, says Chief Economic Advisor
May 09, 2024, at 12:57 am
New Delhi/IBNS: With supply-side investments on both physical and digital infrastructure, Indian economy is better placed to pursue non-inflationary growth and could achieve a GDP growth rate of above 7% this year, based on its domestic strengths, Chief Economic Advisor to the Government Dr V Anantha Nageswaran said on Wednesday.
May 08, 2024, at 10:16 pm
Mumbai: Canara Bank reported a robust performance for the March quarter, with standalone net profit increasing by 18.33% year-on-year to Rs 3,757.23 crore, compared to Rs 3,174.74 crore in the same quarter last year.
Hero MotoCorp Q4FY24 profit grows 18% YoY to Rs Rs 1,016 cr
May 08, 2024, at 09:28 pm
Mumbai: Hero MotoCorp on Wednesday announced an 18 percent increase in net profit, reaching Rs 1,016 crore for the quarter ending on March 31, 2024.
CCI approves acquisition of additional shares in Sikkim Urja Ltd by Greenko Energies
May 08, 2024, at 07:04 am
New Delhi: The Competition Commission of India (CCI) has approved the acquisition of additional shares in Sikkim Urja Limited (formerly Teesta Urja Limited) by Greenko Energies Private Limited, the anti-trust watchdog said in a press release on Tuesday.
JSW Energy Q4FY24 PAT grows 29% to Rs 351 cr
May 08, 2024, at 03:43 am
New Delhi: Private sector power producer JSW Energy recorded a 29% surge in profit after tax (PAT) on account of the company's owners for the March quarter, primarily due to reduced tax expenses.
Ghost malls witness a 59% year-on-year rise in India
May 08, 2024, at 03:22 am
New Delhi: Ghost malls, which derive their name from their high vacancy rates of over 40%, surged by 59% to reach 13.3 million square feet (msf) in 2023 compared to the previous year, according to a report released on Tuesday.
Dr Reddy’s Lab Q4FY24 net profit up 36% YoY to Rs 1,307 cr
May 07, 2024, at 11:57 pm
Mumbai: Hyderabad-based pharma major Dr Reddy’s Laboratories recorded a net profit of Rs 1,307 crore in the March quarter of FY24, up 36 percent from the same period last year when it reported a profit of Rs 960 crore.
Stock market update: Sensex drops 380 points, Nifty hovers just above 22,300 mark
May 07, 2024, at 10:52 pm
Mumbai: The Indian stock market benchmarks Nifty 50 and Sensex closed in negative territory on Tuesday despite positive global cues, experiencing a widespread selloff.
India's April oil consumption rises by 6% YoY: Oil Ministry
May 07, 2024, at 09:41 pm
New Delhi: India witnessed a 6.1 percent year-on-year increase in fuel consumption, according to data released by the Petroleum Planning and Analysis Cell of the Oil Ministry.
Paytm CBOs Bipin Kaul, Ajay Singh resign as company takes up restructuring: Report
May 07, 2024, at 09:37 pm
Noida: Ahead of Paytm’s announcement of its yearly and fourth-quarter financial results later this month, two senior officials have stepped down, adding to a growing trend of top-level departures at the Noida-based mobile payments company, media reported.
Sebi rejects NSE's market trading hour extension proposal citing lack of consensus
May 07, 2024, at 07:09 pm
Mumbai/IBNS: The Securities and Exchange Board of India (Sebi) has rejected the proposal of the National Stock Exchange (NSE) to extend the trading hours due to a lack of consensus among stockbrokers, reports said.
Indian airlines to carry 50 pct of international traffic by 2028, says Crisil Ratings
May 07, 2024, at 05:49 am
Indian airlines, carrying international passenger traffic originating from, terminating in, or transitioning through India, are expected to witness a surge of 50 percent by fiscal 2028 from the current 43 percent in 2024, according to Crisil Ratings.
May 07, 2024, at 04:54 am
Former Chief Justice of Jharkhand High Court, (Retd.) Justice Sanjay Kumar Mishra, has been appointed as the first President of the Goods and Services Tax Appellate Tribunal (GSTAT), clearing the decks for resolving GST-related disputes.
PSU Bank shares drop as new RBI norms for infra project financing spoil mood
May 07, 2024, at 02:02 am
Mumbai/IBNS: The shares of state-run lenders of India, including State Bank of India (SBI), Punjab National Bank (PNB), Union Bank of India, Bank of Baroda (BOB), and Maharashtra Bank, tumbled up to 6 percent on Monday after the Reserve Bank of India (RBI) published a draft proposing tighter rules for lending and heightened monitoring for under-construction infrastructure projects, reports said.
India's services PMI shows marginal slowdown in April
May 07, 2024, at 12:14 am
Growth in India's dominant services sector showed a marginal slowdown in April, as per data shown by the Purchasing Managers’ Index (PMI) figure, released by HSBC.
Compound interest calculators: Tools for visualizing long-term financial goals
May 06, 2024, at 09:45 pm
The power of compounding can do wonders for one’s saving goals. Several investors have benefitted from compounding over the years. A compound interest calculator can help you calculate the same benefit for free. Read on to know more about this tools and its advantages.
JP Morgan upgrades Kotak Mahindra Bank to overweight
May 06, 2024, at 07:24 pm
JP Morgan has upgraded private sector lender Kotak Mahindra Bank from neutral to overweight, media reports said.
Paytm COO Bhavesh Gupta steps down citing personal reasons
May 05, 2024, at 04:58 am
Mumbai: Digital payments and financial services company Paytm announced the exit of its Chief Operating Officer and President Bhavesh Gupta in an official filing to regulatory authorities on May 4.
India, Nigeria to finalise Local Currency Settlement System Agreement soon
May 04, 2024, at 11:13 pm
A seven-member delegation from India led by Additional Secretary, Department of Commerce, Ministry of Commerce and Industry, AmardeepSingh Bhatia, accompanied by High Commissioner of India to Federal Republic of Nigeria, G Balasubramanian and Economic Adviser, Department of Commerce, Priya P. Nair held a Joint Trade Committee (JTC) meeting with their Nigerian counterparts in Abuja late last month when both sides undertook a detailed review of recent developments in bilateral trade and investment ties.