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NEW DELHI: Indian Highways Management Company Ltd (IHMCL), toll collecting arm of state-owned NHAI, has advised highway users to buy FASTags from 32 authorised banks sans Paytm Payments Bank for hassle-free travel. In a post on X, IHMCL said for hassle-free travel, buy your FASTag from 32 authorised banks....
NEW DELHI: The Supreme Court on Thursday struck down the electoral bonds scheme, calling it “unconstitutional” and “arbitrary”. It ordered State Bank of India (SBI), the issuing bank, to immediately cease issuing electoral bonds, share the names of the purchasers, value of the bonds and their recipients with the...
Corporate India clocked double-digit growth in aggregate net profit for the third quarter helped by stable input costs and lower interest outgo in case of manufacturing companies while revenue growth remained below 10% for the third straight quarter. For the sample of 3,381 companies, revenue grew 8.2% Y-o-Y in...
MUMBAI: Markets regulator Sebi on Thursday proposed promoting collective oversight of PMS distributors by making registration with the Association of Portfolio Managers in India (APMI) mandatory for them and facilitating ease of digital onboarding process for portfolio managers’ clients. The proposals are aimed at promoting ease of doing business...
NEW DELHI: State-owned NMDC has registered a 15 per cent rise in its iron ore production to 12.22 Million Tonne (MT) in October-December 2023, a company statement said. The miner had produced 10.66 MT iron ore in the third quarter of the preceding financial year, according to the statement...
NEW DELHI: State-owned NBCC Ltd on Thursday said it has bagged a Rs 262 crore project to redevelop Ministry of External Affairs Housing in the national capital. In a statement, NBCC said the “Bhoomi Poojan Ceremony” for the redevelopment of Ministry of External Affairs Housing at KG Marg took...
MUMBAI: Reserve Bank Governor Shaktikanta Das on Thursday said recurring food price shocks and renewed flash points on the geo-political front pose challenges in tackling inflation. “We remain vigilant to navigate through the last mile of disinflation as it is often the most difficult part of the journey. We...
NEW DELHI: India’s exports rose to a three-month high of 3.12 per cent to USD 36.92 billion in January despite global uncertainties including the Red Sea crisis, while the trade deficit narrowed to a nine-month low of USD 17.49 billion, the government data released on Thursday showed. After recording...
NEW DELHI: Nearly 59 per cent of large organisations (those with over 1,000 employees) surveyed in India are using Artificial Intelligence (AI) actively in their businesses, according to a new research commissioned by IBM. The ‘IBM Global AI Adoption Index 2023’ found early adopters are leading the way, with...
NEW DELHI: Finance Minister Nirmala Sitharaman on Thursday asked state-owned Security Printing & Minting Corporation of India (SPMCIL) to find ways to transform itself at a time when its core business of printing currencies is depleting because of India’s transition to a digital economy. Addressing the foundation day of...
NEW DELHI: The negotiations for the proposed India-UK free trade agreement are at an advanced stage, and both sides are working to iron out differences on the remaining issues, a top government official said on Thursday. Commerce Secretary Sunil Barthwal said the negotiations are taking time because “we want”...
NEW DELHI: India, Bangladesh, Egypt, Indonesia and South Africa have raised concerns at a latest World Trade Organization (WTO) draft on dispute settlement reform which proposes inclusion of mediators during consultations and the composition and powers of dispute settlement panels. In a submission made Monday, they said that novel...
NEW DELHI: The Supreme Court on Wednesday proposed a panel of domain experts to inspect the closed Sterlite copper unit in Tamil Nadu’s Tuticorin and suggest further compliances and way forward, saying shutting down a plant of “national importance” will not serve anybody’s purpose. The plant is closed since...
BENGALURU: Global card payment players like Visa and Mastercard are reaching out to the Reserve Bank of India for clarifications on business payments made through their networks, industry insiders said. Simultaneously, fintechs offering business payment solutions are looking at alternative means to ensure their clients can continue to make...
NEW DELHI: India’s wholesale price index (WPI)-based inflation rate eased to a three-month low of 0.27 per cent (year-on-year) in January due to moderation in prices of food articles and manufacturing products, according to data released by the Ministry of Commerce and Industry on Wednesday. In December 2023, the...
MUMBAI: Recently leaked documents have exposed the potential consequences of the India-European Free Trade Association (EFTA) trade deal on affordable medicines. Millions of people around the world could lose access to affordable medicines if the trade deal between India and EFTA is finalised in its current form, medical aid...
NEW DELHI: India’s services trade surplus shot up to a record $44.9 billion in the October-December quarter (third quarter, or Q3) of 2023-24 (FY24), growing 16 per cent year-on-year, showing resilience amid strong global headwinds. This is likely to reduce the current account deficit (CAD) in Q3. According to...
MUMBAI: Outlier growth in personal loans and exposure to non-banking finance companies (NBFCs) were among the prominent issues that RBI top brass discussed with the chiefs of public sector banks and select private sector banks in a meeting on Wednesday. The discussion on the aforementioned issues came about three...