Business
Reserve Bank Of India Frees Up Bank Capital With NBFC Risk Weight Rollback
MUMBAI: With bank loan growth slowing over the past year, the Reserve Bank of India (RBI) has decided to reverse its decision to increase the risk weight of bank loans to non-banking financial companies (NBFCs), which will result in a substantial release of capital for banks. In addition, it...
SEBI Proposes Steps To Raise Risk Monitoring In Equity Derivatives
NEW DELHI: India’s markets regulator has proposed lowering position limits for equity stock derivatives and tightening rules for index derivatives, in a bid to further reduce the build-up of risk in these markets. The new proposals follow changes announced in October, where the Securities and Exchange Board of India...
India, EU To Firm Up Cooperation In Ai, Evs, Semiconductors & Telecom
NEW DELHI: India and the European Union at their high-level meeting here this week are expected to agree to collaborate in areas such as artificial intelligence, electric vehicles, semiconductors and telecoms, with a focus on “secure and trusted” connectivity to provide an alternative to Chinese-led connectivity networks. The two...
Rupee Plummets 47 Paise To End At 87.19 Against US Dollar
MUMBAI: The rupee fell sharply by 47 paise to settle at 87.19 against the US Dollar on Tuesday due to month-end Dollar demand by importers amid uncertainty over US trade tariffs. Elevated greenback against major crosses and sustained FII outflows also contributed to the decline in the domestic unit,...
Reliance To Invest Rs 50,000 Crore In Assam Over 5 Years: Ambani
GUWAHATI: Reliance Industries will invest Rs 50,000 crore across five different verticals, including nuclear energy and hospitality sector, in Assam over the next five years, its chairman Mukesh Ambani said on Tuesday. Speaking at the ‘Advantage Assam’ business summit, Ambani said the money will be invested to make Assam...
India Imported 49 Billion Euro Worth Of Russian Oil In 2024
NEW DELHI: India, the world’s third largest oil consuming and importing nation, bought crude oil worth 49 Billion Euros from Russia in the third year of Moscow’s invasion of Ukraine, a global think tank said. India, which has traditionally sourced its oil from the Middle East, began importing a...
Centre Urge Companies To Set Up Skill Centres In-House
KOLKATA: The Centre has urged the corporate sector to set up skill centres in-house so that the employability of graduating youth is improved and the overall hiring scenario is boosted, an official said on Tuesday. Ministry of Corporate Affairs Secretary Deepti Gaur Mukherjee said that there is a need...
Blue Star Plans For Gradual Expansion At Manufacturing Facilities For ACs
CHENNAI: Air conditioners and commercial refrigeration system maker Blue Star Ltd has planned to take up gradual expansion of its manufacturing facilities to 1.8 million units as it aims to garner a market share of 14.3 per cent in the room air conditioner segment by FY26, a top official...
Centre Kickstarts Process For Stake Sale In PSBs And Listed PFIs
NEW DELHI: As part of the long-promised financial sector reforms, the government on Monday kickstarted the process of diluting its equity in select public-sector banks (PSBs) and listed public financial institutions (PFIs) by inviting bids from merchant bankers and legal advisors. Finance Minister Nirmala Sitharaman in her 2021-22 Budget...
Indian IT Sector May See Low Single-Digit Growth In Fy25: Nasscom
MUMBAI: The Indian IT industry is expected to grow by 5.1 per cent to $282.6 billion in FY25, up from the 4 per cent growth in FY24. Nasscom, the industry body, said the sector was likely to surpass the $300 billion revenue milestone in FY26. Though the growth rate...
Centre’s Capex Loan To States Surpasses 90 Per Cent Of FY25 Target
NEW DELHI: The Centre has released loans of Rs 1.15 lakh crore to states so far this financial year under the scheme for interest-free 50-year special assistance for capital expenditure, inching closer to the revised estimate of Rs 1.25 lakh crore for the year. The amount released so far...
IRDAI Plans To Put Risk Management At Industry Core To Align With Global Best
The Insurance Regulatory and Development Authority of India (IRDAI) is working toward implementing major regulatory changes over the next 18-24 months, multiple industry sources told ET, pointing to the regulator’s goal of boosting risk management and putting in place a framework that harnesses global practices. Among the proposed changes...
India-UK Deal To Fire Up Goods Trade 2-3x In 10 Years
NEW DELHI: India has the “flexibility and ability” to significantly reduce its tariffs in a free trade agreement (FTA) with the UK and is actively negotiating a social security agreement with Britain, commerce and industry minister Piyush Goyal said Monday, even as he pitched for a more liberal visa...
India To Host 12th Regional 3R And Circular Economy Forum In Asia And Pacific In Jaipur
NEW DELHI: Union Minister Manohar Lal on Monday said India will host the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific at Jaipur on March 3 to 5. He also informed that over 500 international and domestic participants are expected to attend the three-day conference...
NTPC, Reliance, Adani Commit Rs 4 Lakh Crore Investment In Madhya Pradesh
BHOPAL: Billionaire Gautam Adani’s group, Reliance Industries and state-owned power producer NTPC were among over a dozen companies that on Monday committed to invest about Rs 4 Lakh Crore across businesses in Madhya Pradesh, amid a high-voltage showcase by the state of its vast opportunities and investment potential. While...
India Inc Expected To Achieve Seven-Eight Per Cent Growth In Q4: ICRA
NEW DELHI: Domestic rating agency Investment Information and Credit Rating Agency (ICRA) on Monday said Indian companies are likely to clock seven-eight per cent revenue growth during the March quarter of the current fiscal year, led by revival in rural demand and uptick in government spending. ICRA expects the...
Delhi Discoms Achieve A+ Rating In Consumer Service 2023-24
NEW DELHI: In a major achievement for Delhi’s power sector, the city’s discoms, including BSES Rajdhani Power Limited (BRPL) and BSES Yamuna Power Limited (BYPL), have been awarded the highest A+ rating in the fourth edition of the Consumer Service Ratings of Discoms for the year 2023-24. Released by...
Sensex Tumbles Over 850 Points On Weak Global Cues
MUMBAI: Falling for the fifth straight session on Monday, equity benchmark BSE Sensex plunged over 850 points to drop below the crucial 75,000 level, tracking a weak global market trend and unabated foreign fund outflows amid escalating trade tensions. Besides, deep losses in IT, telecom and metal stocks added...
