Business
Govt To Amend Aadhaar Law To Align With Data Privacy Act
NEW DELHI: The government plans to amend the Aadhaar Act, 2016, to harmonise it with the Digital Personal Data Protection (DPDP) Act, 2023. Electronics and IT minister Ashwini Vaishnaw has urged the Unique Identification Authority of India (UIDAI), which manages Aadhaar to plug the loopholes in the law once...
REC Limited signs MoU with MMRDA
MUMBAI: REC Limited, a Maharatna CPSU under the Ministry of Power and a prominent NBFC, has entered into a Memorandum of Understanding (MoU) with the Mumbai Metropolitan Region Development Authority (MMRDA) to provide financial support of `1 lakh crore for infrastructure development in the Mumbai Metropolitan Region (MMR). The...
No Set Level On Rupee-Dollar Exchange Rate: RBI Chief
MUMBAI: Reserve Bank Governor Sanjay Malhotra on Wednesday said the central bank does not target any level or band for the rupee-dollar exchange rate, but intervenes in forex market only when there is excessive volatility. Talking to reporters after the announcement of the April monetary policy, the Governor said...
Rupee Goes Lower Amid Global Turmoil
MUMBAI: The rupee extended its losing streak for the fourth straight session and settled 45 paise lower at 86.71 (provisional) against the US dollar on Wednesday, amid escalating tariff turbulence globally even as the Reserve Bank reduced key interest rate by 25 basis points as a growth-stimulus measure. Even...
India, Nepal Sign Pact, To Focus On Crop Production
KATHMANDU: India and Nepal on Wednesday signed an agreement to enhance cooperation in the field of agriculture and further deepen the partnership between the two countries. The agreement was inked by Agriculture and Farmers Welfare Minister Shivraj Singh Chouhan and Nepal’s Minister for Agriculture and Livestock Development Ram Nath...
Chinese President Xi Jinping Pledges To Strengthen Ties With Neighbours Amid Trump’s Tariff War With China
BEIJING: Chinese President Xi Jinping on Wednesday pledged to strengthen the strategic relationships with neighbouring countries by “appropriately” managing differences and enhancing supply chain ties as China’s tariff war with the US escalated. In his first public speech after US President Donald Trump’s steep global hike of tariffs, especially...
India-EU FTA Soon With Tariff Cuts On Merchandise
NEW DELHI: Faced with the deadline of 2025-end to conclude negotiations on the proposed free trade agreement (FTA), India and the European Union (EU) are now considering completing the task in phases so that businesses on both sides can benefit from increased market access sooner. This could mean faster...
Climate Shocks Could Cause 6% Economic Loss In Asia-Pacific: UN Report
NEW DELHI: A new United Nations report warns that climate shocks could lead to annual economic losses (AAL) of at least 6 per cent in one-third of countries in the Asia-Pacific region, underscoring the region’s significant vulnerability to climate change. The report, titled Economic and Social Survey of Asia...
Centre Revises Norms For State Capex Loans
NEW DELHI: The Centre has issued new guidelines for the disbursal of Rs 87,000 crore, or nearly 60% of the Rs 1.5 lakh crore interest-free 50-year capex loans, to the state governments and union territories for FY26. The amount would be transferred to states and UTs largely as untied...
Banks May Write Off Stressed Loans Worth Rs 1.5 Trillion In FY26: ICRA
MUMBAI: Commercial banks in India are expected to write off bad loans worth Rs 1.51 trillion in the current financial year (FY26) to further clean up balance sheets, according to ICRA estimates. The rating agency also said bank credit growth in FY26 is expected to be around 10.8–10.9 per...
India Inflation In March Likely Steady After Four Months Of Decline: Reuters Poll
NEW DELHI: India consumer prices likely rose around the same rate in March as they did in February following four months of declining inflation, as a sharp rise in gold prices offset flat food prices, a Reuters poll showed. Food price rises had steadily moderated over the previous four...
Vietnam, Bangladesh, Others Look To Strike Trade Deals With US
NEW DELHI: Vietnam, which is a key competitor of India and has 46% additional tariffs as against 26% on India, has offered zero duties on all US imports. Bangladesh, which is a rival for India in global markets for textiles, may also offer duty concessions to the US to...
General Insurance Industry Likely To Grow 13% In FY26: India Ratings
MUMBAI: After tepid growth in the last financial year, the general insurance industry is expected to grow 13 per cent year-on-year (Y-o-Y) in gross written premium (GWP) in FY26, led more by value than by new policyholder additions, analysts at India Ratings said. The industry’s premium grew 8.5 per...
Inter-Ministerial Group To Track Import Surge, Take Quick Remedial Step
NEW DELHI: An import monitoring group has been set up in the ministry of commerce to track any possible spurt in inflows of goods into India as many countries including China aggressively seek alternative markets after Trump tariffs reduce access to the US markets. A senior official said Monday...
Indian Law Firms Take Baby Steps For Consolidation
AHMEDABAD: The global legal industry saw a seismic shift last week, with the partnerships at Herbert Smith Freehills, widely acknowledged as one of the world’s most elite law firms, and top US law firm Kramer Nevin Naftalis & Franklin voting to approve a historic merger. The new entity will...
Indian IT Firms To Tighten Belts Amid Rising Uncertainty
BENGALURU: Doing more for less is regaining traction in the IT sector. Indian IT firms are grappling with volatility and bearish sentiment amidst a widespread stock market rout. Infosys and HCLTech stock prices declined by nearly 4% on Monday, while Cognizant and Accenture dropped 4% and 2% respectively in...
RBI Starts Bi-Monthly Monetary Policy Review
MUMBAI; The Reserve Bank of India (RBI) on Monday started its bi-monthly monetary policy review amid expectations of a 25 bps cut in key interest rates in the backdrop of moderating inflation and the need to stimulate growth as Trump tariffs pose severe challenges to the global economy. The...
India’s Exports To Us Could Decline By $5.76 Billion: GTRI
NEW DELHI: India’s merchandise exports to the US from sectors such as marine items, gold, electrical, and electronics are expected to decline by $5.76 billion this year due to increased American duties, according to the data analysis of think tank Global Trade Research Initiative (GTRI). However, it added that...
