Business

RBI Directs Private Banks To Have At Least Two Wholetime Directors

MUMBAI: In a move to strengthen governance in private sector banks and wholly-owned subsidiaries of foreign banks, the Reserve Bank of India (RBI) on Wednesday directed them to have at least two wholetime directors. Lenders that do not meet the requirement will have to submit the names for the...

Oct 26 · >

India’s Manufacturing Sector Surges With 36% Rise In Jobs: Report

NEW DELHI: India’s commitment to become a major global manufacturing hub is reinforced as the sector witnesses a 36% increase in job postings, as unveiled by Indeed, a global matching and hiring platform. Recent data by Indeed also indicated that production/manufacturing continues to remain one of the most hired...

Oct 25 · >

DoT Gives Telcos Time Till December 1 To Comply With New SIM Card Rules

The department of telecommunications (DoT) has given an additional two months’ time to telecom operators for complying with the new SIM card sale rules that were notified by the government in August, according to officials aware of the matter. The new rules that required telcos to register SIM card...

Oct 25 · >

India To Replace “Google Tax” With OECD 2-Pillar Solution From FY26

India is “most likely” to adopt the Organisation of Economic Co-operation and Development’s (OECD) Pillar-One and Pillar-Two tax package and bring it into effect from April 2025, a government official said. “Once India implements the two-pillar tax package, it will have to withdraw the equalisation levy (EL), which earned...

Oct 25 · >

Mobile Data Revenue Likely To Grow Over 8% CAGR From 2022-27: GlobalData

Mobile data service revenue is expected to grow at CAGR 8.1% over 2022-2027, even as mobile voice revenue drops on the back of users increasingly shifting to over-the-top (OTT) communications platforms, data and analytics firm GlobalData said in its India Telecom Operators Country Intelligence Report Tuesday. The total telecom...

Oct 25 · >

India, Saudi Arabia Discuss Ways To Increase Bilateral Investments

NEW DELHI: Commerce and Industry Minister Piyush Goyal on Tuesday met Saudi Arabia’s Minister of Investment Khalid A Al-Falih, and discussed ways to boost bilateral investments between the two countries in different sectors. Goyal, who is on a two-day visit to Riyadh, also participated in the seventh edition of...

Oct 25 · >

India Set To Be World’s Third-Largest Economy By 2030, Says S&P Global

NEW DELHI: India will become the world’s third-largest economy, overtaking Germany and Japan, by 2030 on the strength of its youthful demographic profile and rapidly rising urban household incomes, S&P Global Market Intelligence has projected. Now India is in fifth position. That will result in India becoming the second-largest...

Oct 25 · >

FTA Likely On Track As UK Warms To Investment Pact

NEW DELHI: India and the United Kingdom are trying to find a middle ground to conclude a bilateral investment treaty along with a free trade agreement (FTA) by the end of this month, said people with knowledge of the matter. The prospects of a deal have brightened with the...

Oct 25 · >

Govt Eyes Regulatory Sandbox For OTT Communication Apps

NEW DELHI: The government is likely to provide the option of a regulatory sandbox for existing and new over-the-top (OTT) communication apps to test features in a “live but safe environment” before they are allowed to be released for all users. According to the latest version of the draft...

Oct 25 · >

Banks Tap Business, Rework Plan To Raise Low-Cost Deposits

NEW DELHI: The Centre’s “just-in-time” mechanism to release money for government agencies, including at the state level, has forced banks to rework their fund-raising strategy as they have lost out on low-cost current and savings account float.Worst hit are public sector banks such as State Bank of India, which...

Oct 25 · >
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