EPFO adds 1.39 crore net members in FY23, 13.40 lakh added in March
New Delhi: The Employees' Provident Fund Organisation (EPFO) added 13.40 lakh net members in the month of March, the Ministry of Labour & Employment said on Saturday.
Finance
Rs 2,000 notes Exchange: SBI issues guidelines to branches amid misinformation on social media
Mumbai: The State Bank of India has issued a guideline to all its branches, allowing them to exchange or accept deposits in Rs 2000 notes "without obtaining any requisition slip".
Centre to develop Chattisgarh's Gevra Mega project into Asia's largest coal mine
Raipur: The government is focussing on expanding the capacity of the Gevra Mega project in Chhattisgarh further to 70 million tonnes (MT) per annum. The expansion would establish the Gevra Mega project as the largest coal-producing mine in Asia.
Guwahati signs MoU to develop 'Riverine Based Religious Tourism Circuit', boosting Assam's tourism sector
Guwahati/IBNS: A memorandum of understanding (MoU) has been signed to develop a 'Riverine Based Religious Tourism Circuit' in the city of Guwahati, India.
Withdrawal of Rs 2,000 notes won't affect common man, says former Chief Economic Advisor Krishnamurthy Subramanian: Report
London: Former Chief Economic Advisor Krishnamurthy Subramanian on Saturday that Saturday said that the withdrawal of the Rs 2,000 note by the Reserve Bank of India (RBI) would not have an impact on the general public.
IT minister Ashwini Vaishnaw welcomes Japan's interest in joining India's UPI
New Delhi/Tokyo: Union minister Ashwini Vaishnaw on Friday welcomed Japan's interest in joining India’s UPI payment system.
Tesla held talks with India on incentives for car and battery manufacturing: Report
New Delhi: The executives of US-based electric car maker Tesla engaged in discussions with Indian officials regarding potential domestic incentives for car and battery manufacturers, indicating that the company is reconsidering its entry into the Indian market, Reuters reported citing a source familiar with the matter.
Air Asia India joins hand with IOCL, Praj to operate flight powered by SAF
New Delhi: In a move towards decarbonisation of the aviation sector, budget carrier Air Asia India operated the first commercial flight in India powered by a blend of ‘indigenous’ sustainable aviation fuel (SAF).
No TCS on overseas spending through international debit or credit cards up to Rs 7 lakh per financial year: Centre
New Delhi: The Centre on Friday announced that individuals who use their international debit or credit cards for payments, up to Rs 7 lakhs per financial year, will be exempted from the limits set under the Liberalized Remittance Scheme (LRS).
Jet Airways: NCLT to hear Jalan Kalrock Consortium's plea to stop SBI from invoking Rs 175 cr bank guarantee
New Delhi: The National Company Law Appellate Tribunal (NCLAT) will hear a plea made by Jalan Kalrock Consortium (JKC), the successor to Jet Airways management, on May 22. JKC is seeking directions to prevent the State Bank of India (SBI) from invoking its bank guarantee of Rs 175 crore, media reports said.
JSW Steel Q4FY23 net profit grows 13.29% to Rs 3,664 cr
Mumbai: JSW Steel announced on Friday reported a consolidated net profit of Rs 3,664 crore for the quarter ending in March 2023, marking a 13.29 percent increase compared to Rs 3,234 crore in the same quarter of the previous year.
Logistics company Delhivery Q4FY23 loss widens to Rs 159 cr
Mumbai: Logistics unicorn Delhivery recorded a wider net loss of Rs 159 crore in the fourth quarter ending March 2023.
RBI transfers Rs 87,416 cr to govt; Rs 40,000 cr more than expected
Mumbai: The central board of directors of the Reserve Bank of India (RBI) has given its approval for the transfer of Rs 87,416 crore as a dividend to the Centre, media reports said.
India achieves record coal prodn of 893.08 MT in FY23; prodn grows 47% in the last 9 yrs
New Delhi: India’s overall coal production has gone up by 47% to 893.08 million tonnes (MT) in the last nine years and supply has touched 877.74 MT, recording 45.37% growth, the government said on Friday.
India's forex reserves swell by $3.55 billion to $599.53 billion
Mumbai: India’s foreign currency reserves grew for the fourth consecutive week, reaching $599.53 billion as of May 12, according to the Reserve Bank of India’s statistical supplement released on Friday.
RBI to withdraw Rs. 2000 notes by Sept 30, will remain legal tender
New Delhi/IBNS: The Reserve Bank of India Friday announced that it will withdraw Rs.2,000 notes from circulation and people can exchange or deposit them in their bank accounts by Sept 30.
India's defence production value crosses Rs. 1 lakh crore mark in FY 2022-23
New Delhi: The Indian government on Friday said India's defence production value in Financial Year 2022-23 has crossed the figure of Rs. 1 lakh crore for the first time ever.
India achieves 47 percent growth in coal production during last nine years: Govt
New Delhi: During the last nine years, India’s overall coal production has gone up by 47 percent to 893.08 Million Tonne (MT) and supply has touched 877.74 Million tonne, recording 45.37 percent growth, officials said on Friday.
ITC Ltd Q4FY23 standalone PAT grows 21% to Rs 5,086.86 cr
Kolkata/IBNS: Hotels to FMCG conglomerate ITC Ltd on Thursday reported a growth of 21.4% YoY in its Q4FY23 standalone PAT to Rs 5,086.86 crore compared to Rs 4,190 crore.
PNB Housing Financing's Q4FY23 PAT jumps 65% YoY to Rs 279 cr; FY23 PAT grows 25% to Rs 1,046 cr
Kolkata: PNB Housing Financing on Thursday reported Profit After Tax of Rs 279 crore, a substantial year-on-year increase of 65%, and a modest 4% quarter-on-quarter growth for Q4FY23.
SBI reports strong financial performance: FY23 net profit jumps 58.6% to Rs 50,232 cr, Q4FY23 bet profit soars 83% to Rs 16,695 cr
Kolkata/IBNS: India's largest public sector lender State Bank of India on Thursday reported that its FY23 net profit crossed Rs 50,00 crore reaching Rs 50,232 crores, representing a YoY growth of 58.58%. The net profit for the fourth quarter also witnessed impressive growth, surging by 83.18% to Rs 16,695 crores.
Cabinet approves signing of MoU between Competition Commission of India and Egyptian Competition Authority
New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the signing of the Memorandum of Understanding (MoU) between the Competition Commission of India (CCI) and the Egyptian Competition Authority (ECA).
Cabinet approves Rs 1.08 trillion subsidy for Kharif crop fertilizer
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.
SCSS Scheme: Invest up to Rs 30 Lakh for Maximum Returns
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.
Sensex up over 100 points
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.
PM Modi to chair NITI Aayog's governing council meeting on May 27
New Delhi: Prime Minister Narendra Modi is scheduled to preside over the governing council meeting of NITI Aayog on 27th May, media reports said.
Tesla's team of senior execs meet top govt officials, express 'serious interest' in Indian market: Report
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.
Amended PLI scheme for IT sector to produce 3 lakh jobs: Ashwini Viashnaw
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.
Hinduja Group chairman SP Hinduja passes away at 87
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.
RBI allows SBI Funds Management to buy 9.99% stake in HDFC Bank
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.