Business and financial news
New Delhi: India's fertilizer subsidy bill for the current financial year is expected to exceed the budgeted amount of Rs 1.75 trillion by Rs 50,000 crore, reaching Rs 2.25 trillion, Chemical and Fertilizers Minister Mansukh Mandaviya said on Wednesday.
As a senior citizen, investing carefully is the key to enjoying your life after retirement. While there are many traditional and modern avenues you can go for, such as the Flexi FD, the Senior Citizen Savings Scheme (SCSS) remains one of the most popular.
Mumbai/UNI: The BSE Sensex on Thursday recovered 155.67 points at 61,716.31 in opening trade as buying was seen in FMCG, Industrials and IT stocks.
New Delhi: Prime Minister Narendra Modi is scheduled to preside over the governing council meeting of NITI Aayog on 27th May, media reports said.
Senior executives from Tesla Inc., the US-based electric car maker, held meetings on Wednesday with officials from the Prime Minister's Office (PMO), Ministry of Road Transport and Highways, and Ministry of Heavy Industries in New Delhi, media reports said.
New Delhi: Union Minister Ashwini Vaishnaw on Wednesday said that the recently approved modified production-linked incentive scheme for IT hardware manufacturing is expected to create approximately 75,000 direct employment opportunities as well as three times as many indirect jobs.
London: Srichand Parmanand Hinduja, the eldest among the Hinduja brothers and the chairman of the Hinduja Group, passed away in London on Wednesday at the age of 87.
Mumbai: The Reserve Bank of India (RBI) has granted permission to SBI Funds Management (SBIMFL) to acquire a stake of up to 9.99 percent in terms of paid-up share capital or voting rights of HDFC Bank, the bank said in an exchange filing on Wednesday.
Mumbai: Tata Sons Chairman N. Chandrasekaran was awarded the highest civilian honour of France "Chevalier de la Légion d'Honneur"—the highest honour in France by French Minister for Europe and Foreign Affairs Catherine Colonna.
Mumbai: Bharat Petroleum Corporation Limited (BPCL), a oil and gas company in India, has announced its ambitious expansion plans worth Rs. 49,000 Crore, further increasing the Company’s footprints in petrochemical segment and renewable energy, together with augmenting marketing infrastructure.
New Delhi/Kolkata: Aditya Birla Capital, the financial services business of the Aditya Birla Group, through its lending arm, Aditya Birla Finance, announced the launch of Udyog Plus, an innovative one-stop business platform, designed for MSME customers.
Mumbai: Airline major IndiGo has inducted its second Boeing 777 aircraft, on damp lease, which will operate to and from Mumbai- Istanbul route, effective on Wednesday.
The Interim Resolution Professional (IRP) of Go First Abilash Lal has informed the National Company Law Tribunal (NCLT) that the financially strained airline has incurred disproportionate liabilities due to the grounding of its aircraft, Moneycontrol reported.
Mumbai: Banks have appealed to the RBI for an additional year to implement the Expected Credit Loss (ECL) system for loan provisioning. Currently, banks allocate funds when an asset becomes non-performing. However, once the new system is implemented, it is anticipated to have a one-time effect on banks' profits, said media reports.
Mumbai: According to the Indian Banks' Association (IBA), Russian banks and companies with trade surpluses from Indian lenders are using the rupee funds to invest in domestic government debt, Reuters reported.
New Delhi: Mobile Premier League (MPL), the mobile esports and digital gaming platform, has officially launched its app in Nigeria, marking its first foray into the African gaming market.
Mumbai: State-owned refiner Indian Oil Corp Ltd reported a jump in its standalone net profit for the quarter ended March 2023, with a year-on-year growth of 67 percent to Rs 10,059 crore compared to the net profit of Rs 6,021 crore recorded in the same period last year.
Amid ongoing trade tensions between the United States and China, companies such as Tesla are swiftly recognizing the imperative to redirect their attention away from China.
If the consultation paper issued by the market regulator SEBI is approved, it could enable higher educational institutions, urban local bodies, and Micro Units Development & Refinance Agency (MUDRA) to participate as Qualified Institutional Buyers (QIBs) in investing in debt securities, Moneycontrol reported.
Mumbai: In a move to bolster its lending operations amidst growing competition in the digital lending sector, Paytm has promoted Bhavesh Gupta, a key executive in its lending division, to the position of President and Chief Operating Officer (COO).
Mumbai: Bharti Airtel, the second-largest telecommunications company in India, recorded a massive 50% increase in consolidated net profit to reach Rs 3,006 crore for the quarter ending in March 2023 compared to Rs 2,008 crore in the same period last year.
Telecom major Vodafone on Tuesday said it might cut 11,000 jobs over three years.
Mumbai: Public sector lender Bank of Baroda on Tuesday reported over two-fold jump in its fourth quarter net profit at Rs 4,775.33 crore on account of higher interest income and low provisions for bad loans.
Mumbai: Actor Emraan Hashmi is a true trailblazer and has given audiences one of the best films of the past decade.
New Delhi: During his two-day visit to Brussels to attend the first Ministerial meeting of India-European Union Trade and Technology Council (TTC), Union Minister for Commerce & Industry, Textiles, Consumer Affairs, Food & Public Distribution, Piyush Goyal was invited to attend the business meeting organised by Federation of Enterprises in Belgium (FEB).
Union Minister for Commerce & Industry, Textiles, Consumer Affairs, Food & Public Distribution, Piyush Goyal and Executive Vice-President of the European Commission responsible for an Economy that Works for People, and the European Commissioner for Trade, Valdis Dombrovskis emphasised on the need for expediting the ongoing India-EU FTA negotiations by finding convergence on all issues.
Mumbai: Federal Bank proudly announces the inauguration of its Ambernath branch, marking its 163rd branch in the Mumbai Zone.
Technology giant Amazon India has laid off 500 employees in India, media reports said on Tuesday.
Kolkata: Kamdhenu Limited, India’s largest manufacturer and seller of branded TMT Bars in retail, announced its plans to strengthen the presence of its brand 'Kamdhenu Colour Max Sheet' in West Bengal.
Kolkata: United Kingdom-based SRAM & MRAM Group will invest $100 million in SpiceXpress and Logistics Pvt. Limited. Both sides have signed a MoU as part of the investment deal.
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