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MUMBAI: Banks are likely to see pressure on their net interest margins (NIM) in the quarter ended March 2024 on account of tight liquidity conditions and higher funding cost. However, the quarter-on-quarter (QoQ) decline in the NIM – the difference between the interest earned and the interest paid by...
MUMBAI: As input prices, which were benign for a few quarters, turn inflationary, the spectre of shrinking packs looms large within the fast-moving consumer goods (FMCG) segment. This summer has seen the trend make its way back, albeit slowly, and in select categories. Companies have been cautious when reducing...
NEW DELHI: Commercial air-conditioning (AC) market holds “significant promise” and is witnessing growth, driven by rapid urbanisation, infrastructural development and growing emphasis on comfort in commercial spaces, said Sunil Vachani, president of electronics and appliances manufacturers’ body CEAMA. “The commercialC (Heating, Ventilation, and Air Conditioning) segment is witnessing a...
NEW DELHI: India has added a record renewable energy capacity of 18.48 GW in 2023-24, which is over 21 per cent higher than 15.27 GW a year ago, according to the latest data of the Ministry of New & Renewable Energy. “However, industry experts said there is a need...
NEW DELHI: The government on Saturday said the payment mechanism for traders importing pulses from Myanmar has been eased and simplified. The importers have been asked to utilize Rupee/ Kyat direct payment system using Special Rupee Vostro Account (SRVA) through Punjab National Bank, the consumer affairs ministry said in...
NEW DELHI: LIC, the state-owned insurance behemoth, has seen a 59 per cent rise in value of its investments in Adani group companies in 2023-24 fiscal year after the conglomerate made a smart recovery since being hammered by a damning short seller report. “The value of LIC’s investment in...
NEW DELHI: In a bid to check incidence of BoB World app scam and other such financial frauds, the finance ministry makes a case for an enhanced KYC procedure and extensive due diligence by banks and financial institutions for onboarding merchants to safeguard customers against cyber risks, sources said....
NEW DELHI: Retail inflation eased to a 10-month low of 4.85% in March while industrial output hit a four-month high of 5.7% in February, data released Friday showed. With inflation maintaining its downward trajectory, the print — which was below 5% for the first time in five months —...
NEW DELHI: Moody’s on Friday retained India’s rating, maintaining a stable outlook and projecting well over 6% economic growth over the next two fiscal years. The global rating agency kept the country’s long-term and short-term ratings unchanged at Baa3 and P-3, respectively, after a periodic review, citing a gradual...
NEW DELHI: The Telecom Regulatory Authority of India (TRAI) on Friday proposed that the government should provide funding for testing new products in the communications sector as some innovations can potentially bridge the digital divide. The proposal was a part of the recommendations released by the TRAI aimed at...
MUMBAI: State Bank of India (SBI) has approached the Reserve Bank of India (RBI) to put a cap on non-banking financial companies’ (NBFCs) lender base. Currently, many NBFCs borrow from over 50-60 lenders at the same time. The country’s largest bank believes that large number of lenders dilutes the...
MUMBAI: Vodafone Idea Limited (VIL) is set to launch a follow-on public offering (FPO) worth Rs 18,000 crore next week. The move is an attempt by the beleaguered telecom service provider to bolster its balance sheet and hold its own against formidable rivals, such as Reliance Jio Infocomm and...
NEW DELHI: The government is considering allowing sugar mills to manufacture ethanol using their excess B-heavy molasses as feedstock, amid comfortable sugar supply and stable prices in the market, according to sources. Currently, sugar mills are holding an excess stock of more than 8 lakh tonnes of B-heavy molasses...
NEW DELHI: The Centre has pegged lower the consumption of urea and di-ammonium phosphate (DAP) while raising the expected sales of muriate of potash (MOP) and complex fertilizer during kharif 2024 against the actual sales of these crop nutrients last year. The government prepares the demand estimates for all...
The country’s power distribution entities (Discoms) are weighing the Day Ahead Market (DAM) for affordable procurement of power on apprehensions of prices rising on the back of increased demand for electricity during peak summer months. “Considering the expected surge in electricity demand, many discoms entered into forward contracts through...
NEW DELHI: India, which maintains the world’s second largest operating coal-fired capacity, announced 11.3 gigawatts (GW) of new thermal power plants (TPPs) running on dry fuel — the highest in the last seven years. According to the Boom and Bust Coal 2024 report by the Global Energy Monitor (GEM),...
NEW DELHI: The government has set the target of producing 170 million tonnes of coal from captive and commercial coal blocks in the country during the current financial year. In FY24, captive and commercial coal blocks produced 147.12 million tonnes (MT) of dry fuel, 26 per cent higher from...
NEW DELHI: The Asian Development Bank (ADB) on Thursday upgraded India’s gross domestic product (GDP) growth forecast for 2024-25 (FY25) to 7 per cent from 6.7 per cent earlier, citing better prospects of robust public and private investment and strong services sector growth. However, it said unanticipated global shocks,...