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MUMBAI/NEW DELHI: Facing an uncertain future following severe restrictions imposed by RBI, Paytm brass has held talks with FM Nirmala Sitharaman and the regulator, in a bid to impress upon them to reverse the decision. While executives of the bank, including founder Vijay Shekhar Sharma, met RBI officials on...
MUMBAI: Retail credit slowed down in the second quarter of FY24, data from TransUnion Cibil showed. There has also been a marked increase in defaults in personal loans and credit cards during the same time period.This deceleration in retail loan growth stems from a lack of growth in home...
NEW DELHI: The Parliamentary Standing Committee on Finance has recommended that GST on health insurance, particularly for senior citizens, should be lowered. It has simultaneously pitched for a level-playing field between public and private sector insurance companies in terms of TDS on GST and participation in government-run insurance schemes....
NEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) has amended norms pertaining to insolvency resolution process for personal guarantors and voluntary liquidation process. Changes have been made to the Insolvency Resolution Process for Personal Guarantors to Corporate Debtors regulations and Bankruptcy Process for Personal Guarantors to Corporate...
NEW DELHI: The Enforcement Directorate and the Financial Intelligence Unit have asked the RBI to share its report on the recent action taken to bar Paytm Payments Bank Ltd from accepting deposits or top-ups in customer accounts, official sources said on Tuesday. Federal agencies ED and FIU, tasked with...
India will not conclude the India-UK Free Trade Agreement (FTA) talks in haste under the pressure of forthcoming general elections, as negotiations for a favourable outcome can continue even after the new government comes in, a senior official has said. “India will not do anything under pressure. We are...
BENGALURU: The market size of the Indian enterprise fintech sector is projected to reach $20 billion, according to a report by venture capital firm Chiratae Ventures and finance consultancy Digital Fifth. The market size of the enterprise fintech sector was reported to be at $2.7 billion in 2022. The...
NEW DELHI: The department of telecommunications (DoT) is examining methodologies to directly allocate spectrum to enterprises like Infosys, Tejas Networks, Tata Communications, Tata Power, Larsen & Toubro, GMR, Capgemini, etc. It has set up an internal study group to suggest ways to achieve the objective. Officials said that direct...
NEW DELHI: The Organization for Economic Co-operation and Development (OECD), in its latest interim economic outlook released on Monday, raised India’s growth outlook for 2024-25 (FY25) to 6.2 per cent from the 6.1 per cent estimated earlier in its November outlook. “The emerging-market (EM) economies have generally continued to...
NEW DELHI: Services sector activity expanded at the fastest pace in six months in January, as buoyant international and domestic demand contributed to rising new business orders, according to results of a private sector survey released Monday. HSBC India Services PMI Business Activity Index rose to 61.8 in January...
NEW DELHI: India may allow at least four state-owned banks to raise funds or expand their public float in the first half of the next fiscal year to accelerate their lending business and improve public participation, said people familiar with the development. The four lenders include Punjab National Bank...
MUMBAI: Banks have witnessed strong growth corporate loans in the third quarter, driven by demand from companies in the infrastructure and power sector. With economy expected to grow at a faster pace and the government’s focus on strengthening the infrastructure, lenders expect the corporate loan demand to remain firm...
NEW DELHI: Leading FMCG companies are betting on a gradual recovery in rural demand this year on the back of improving macroeconomic conditions, continued government spending and price cuts. Many companies said the industry continued to witness sluggish rural demand in the December quarter with the urban consumption continuing...
MUMBAI: Capital market regulator SEBI will soon widen the ambit of large, mid and small cap stocks based on their market capitalistion after the dizzying rally in equity markets last year. Mutual funds have moved SEBI to enhance the large-cap classification from top-100 companies in terms of market capitalisation...
NEW DELHI: The Food Safety and Standards Authority of India (FSSAI) on Monday said that various amendments in food safety regulations have been approved to to do away with Bureau of Indian Standards (BIS) or Agmark certifications for food products. In line with the concept of “One Nation, One...
Five veterans associated with large electronics companies have come together to start a new venture – Awesense Five Pvt Ltd – for design and manufacturing sensors. The sensors play a pivotal role in monitoring and control systems, making their domestic manufacturing a priority. Due to their sensitivity and strategic...
Korean mobile devices maker Samsung led the Indian smartphone market with an 18 per cent share in 2023, market research firm CyberMedia Research said in a report on Monday. In the December quarter, however, Chinese company Xiaomi had the highest market share, the report said. According to CyberMedia Research...
MUMBAI: The Reserve Bank of India’s (RBI) six-member monetary policy committee (MPC) is likely to maintain status quo on repo rate at 6.5% in its forthcoming meeting scheduled between February 6 and 8, 12 economists polled by FE said. Around 40% of economists felt the MPC may pivot to...