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MUMBAI: Shares of the state-owned banks and project financers plunged on Monday, days after the Reserve Bank of India (RBI) proposed to tighten the project financing norms, which require lenders to set aside higher capital for doling out loans to under-construction projects. Shares of Power Finance Corporation (PFC) and...
NEW DELHI: India’s households’ net financial savings plunged to a five-year low of Rs 14.2 trillion in FY23, sharply down from Rs 17.1 trillion in FY22, primarily owing to a sharp rise in short-term credit, data released by the statistics ministry showed on Monday. The fall could be attributed...
NEW DELHI: State-owned BSNL will start rolling out 4G services across the country from August, using completely indigenous technology in line with the government’s “Atmanirbhar” policy, according to official sources. BSNL officials claimed to have recorded peak speed of 40-45 megabit per second on the 4G network which has...
MUMBAI: As much as half of the country’s international air passenger traffic is expected to be catered by Indian airlines by financial year 2027-28, credit ratings agency CRISIL said on Monday. The share of Indian airlines in international passenger traffic, including originating or terminating as well as the traffic...
NEW DELHI: Investments through participatory notes in the Indian capital markets reached Rs 1.5 lakh crore at the end of February, making it the highest-level in nearly six years, driven by a strong performance of the domestic economy. The latest data includes the value of P-note investments in Indian...
NEW DELHI: Automobile dealer’s body FADA on Monday said it has joined hands with Frost & Sullivan for a study to analyse various aspects of customer journey, encompassing sales, after-sales and product quality across the domestic passenger vehicle industry. The Customer Experience Index (CEI) study will target various segments...
SANTA CLARA: India has made its mark as the startup capital of the world and “Brand India” has emerged as a more mature and fearless brand than it used to be two decades ago, a top marketing leader has said. India has made its mark in the startup nation...
MUMBAI: The Reserve Bank of India (RBI) ban on default loss guarantees for peer-to-peer (P2P) lenders is likely to dent the business volumes of some platforms as they will need to redraw their partnership agreements or switch to open market sourcing of investors. “Platforms that relied on the 10%...
NEW DELHI: India Inc.’s corporate social responsibility (CSR) spends rose by 5% from ₹14,816 crore in FY22 to ₹15,524 crore in FY23 across 1,296 NSE-listed companies, led by HDFC Bank (₹820.89 crore), Tata Consultancy Services (₹783 crore) and Reliance Industries (₹744 crore). Ten companies, including these three, accounted for...
NEW DELHI: India and Ghana are working to link their payment systems – Unified Payments Interface (UPI) and Ghana Interbank Payment and Settlement Systems (GHIPSS) respectively to permit users to make instant, low-cost fund transfers on a reciprocal basis. The two countries have also delved into discussions regarding the...
NEW DELHI: Despite a record disbursal of the agricultural loans by banks to over Rs 24 trillion in FY24 against a target of Rs 20 trillion, regional disparity persists, according to latest data by Nabard. The commercial banks, cooperative banks and Regional Rural Banks have disbursed Rs 24.84 trillion...
Akash Pandey (26), a government job aspirant hailing from Basti, Uttar Pradesh, chanced upon a flexible work opportunity online, which could fetch him ₹12,000-13,000 per project for transcribing audio and marking objects in images. Meanwhile, Ikshita Nagar (26), a young Delhi doctor preparing for the PG entrance test, put...
NEW DELHI: As many as 184 thermal power plants with a total generation capacity of 211 GW have 68 per cent of normative coal stock levels amid rising electricity demand due to soaring temperatures in the country. According to the Central Electricity Authority’s (CEA) May 3 daily report, 184...
NEW DELHI: States should support the decarbonisation of aluminium industries by waiving or reducing open access charges for renewable power, a study has said. Open access charges are levied by power distribution companies (discoms) on those consumers which buy electricity from any other source. State governments should also prioritise...
WASHINGTON: Billionaire investor Warren Buffett said that the Indian market has “unexplored” opportunities which his conglomerate holding company, Berkshire Hathaway, would like to explore “in the future”. Buffett’s remarks came at Berkshire’s annual meeting on Friday when Rajeev Agarwal of DoorDarshi Advisors, a US-based hedge fund that invests in...
NEW DELHI: Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI’s data on ‘Sectoral Deployment of Bank Credit’. Experts from banking and real estate sectors...
TBILISI (GEORGIA): India on Sunday urged the Asian Development Bank (ADB) not to overlook its focus on reduction of remaining poverty while promoting sustainable growth for the member nations in the Asia Pacific region. Making intervention at the Board of Governors Business Session at the 57th Annual Meeting of...
MUMBAI: After recording double-digit growth for two consecutive years, India’s services exports decelerated in FY24 to a three-year low, with a modest increase of 4.9 per cent to $341.1 billion, data released by the Reserve Bank of India showed. However, net services exports grew at a robust pace of...