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BENGALURU: Angel investor networks are now spreading their wings in tier II and III cities such as Ahmedabad, Indore, Dehradun, Rajkot, Coimbatore, Surat and Nagpur, and technology has played a big role here also. An increasing understanding of the startup ecosystem and larger risk appetite for private asset classes,...
MUMBAI: Nearly three years after the acquisition of Bhushan Power and Steel (BPSL) by JSW Steel, uncertainty still looms over complete transfer of asset on a clean slate as assured under Insolvency and Bankruptcy Code (IBC). The National Company Law Tribunal (NCLT) approved the ₹19,350-crore bid of JSW Steel...
NEW DELHI: India’s Mines Ministry has initiated the process to on-board local partners to start exploration activities for lithium in Argentina, officials said. The state-owned KABIL (Khanij Bidesh India Ltd) — a joint venture between NALCO, Hindustan Copper and Mineral Exploration Corporation Ltd (MECL) — which is driving the...
The Commerce Ministry will carry out internal brainstorming on handling of tricky issues that spilled over from the 13th WTO Ministerial Conference (MC13) in Abu Dhabi last week, particularly the growing pressure for mainstreaming of select-group initiatives on areas such as investment facilitation, MSMEs, gender and e-commerce, officials said....
NEW DELHI: Leading consumer durables player Haier Appliances is betting big on the India growth story. The company, which is celebrating its 20th anniversary of establishment in India, expects to touch the ₹10,000 crore-mark by 2025 in terms of revenues. N S Satish, President, Haier Appliances India, told businessline,...
The Ministry of Civil Aviation (MoCA) has announced plans to develop Guna and Shivpuri airports in Madhya Pradesh under the UDAN (Ude Desh Ka Aam Nagrik) scheme. This initiative aims to improve regional air connectivity and make air travel more accessible for residents in these areas. Guna Airport, owned...
MUMBAI: Bloomberg on Tuesday announced including Indian government securities called “Fully Accessible Route (FAR) bonds” in the Bloomberg Emerging Market (EM) Local Currency Government Index and related indices. This will be done over 10 months, starting January 31, 2025, instead of September 2024, which was envisaged earlier. This is...
MUMBAI: The liquidity in the banking system moved into surplus almost after three months as the Reserve Bank of India (RBI) absorbed over Rs 40,000 crore from the market on Monday, predominantly on the back of increased government spending. However, this situation may be short-lived given the higher demand...
NEW DELHI: Central public-sector entities – companies and undertakings (CPSEs) – achieved 92% of their combined capital expenditure target for FY24 in April-February by spending Rs 6.8 trillion, maintaining their acceleration in capex in the current financial year. On an annual basis, these entities’ capex grew by 21% on...
NEW DELHI: The Food Corporation of India (FCI) may raise around Rs 15,000 crore through short term loans in the current fiscal to bridge the gap between food subsidy allocated and actual expenses in handling and distribution of grains under free ration scheme. Sources told FE that as a...
NEW DELHI: The services sector growth in India moderated in February amid softer expansions in business activity, sales and jobs, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Services Business Activity Index registered 60.6 in February, down from 61.8 in January. In Purchasing Managers’ Index (PMI)...
NEW DELHI: The heavy industries ministry is examining requests seeking reduction in GST on flexible fuel vehicles (FFVs) from the current 28 per cent, sources said. The ministry is in consultation with various stakeholders and other government departments. Once the consultations are completed, the ministry will submit a recommendation...
MUMBAI: Reserve Bank has directed banks to provide their eligible customers with an option to choose from multiple card networks at the time of issuing credit or debit cards, a move which will benefit card users. The central bank also asked issuers of credit cards not to enter into...
NEW DELHI: Unemployment rate for persons aged 15 years or above declined to 3.1 per cent in 2023, the lowest in the last three years, as per a report of National Sample Survey Organisation under the Statistics Ministry. According to Periodic Labour Force Survey (PLFS) for calender year 2023,...
NEW DELHI: Investors are returning to housing market, with 36 per cent of respondents looking to buy homes from an investment perspective, according to FICCI-Anarock survey released on Tuesday. At a real estate event here, FICCI-Anarock Consumer Sentiment Survey (H2 2023) was released which suggested that prospective homebuyers are...
MUMBAI: The proposed policy related to animation, visual effects, gaming and comics (AVGC), once implemented, will facilitate investments, foster innovation and contribute to building world-class infrastructure in the country, Secretary in the Ministry of Information and Broadcasting Sanjay Jaju said on Tuesday. Speaking at 24th edition of the media...
NEW DELHI: Banking on policy continuity after the Lok Sabha polls and focus on infrastructure development, global credit rating agency Moody’s Investors Service on Monday revised its 2024 growth forecast for the Indian economy to 6.8 per cent, from the 6.1 per cent projection in November last year. In...
MUMBAI: Liquidity deficit in the banking system has fallen to its lowest level in three months, bringing down cost of borrowing in money markets, as the government has stepped up expenditure after months of maintaining elevated cash balances. Numerous rounds of variable rate repos by the Reserve Bank of...