CHENNAI: TVS Supply Chains Solutions Ltd has expanded its warehouse footprint in the country, by adding 6.50 lakh sq ft additional space at its ultra-modern facility in Hosur, the company said on Thursday. The global supply chain solutions provider, in a statement here, said with the latest expansion, the...
MUMBAI: The Indian economy is likely to grow more than the National Statistical Office (NSO) estimate of 7.6 per cent in the current financial year (FY24) and it could be close to 8 per cent, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday. The NSO in...
NEW DELHI/MUMBAI: Rating agency CRISIL on Wednesday raised its economic growth forecast for India in the next financial year (FY25) to 6.8 per cent from 6.4 per cent estimated earlier, citing higher growth momentum. In its India Outlook report, it, however, said growth will moderate in FY25 from 7.6...
NEW DELHI: In 2024, India Inc is likely to receive an average salary hike of 9.6 per cent, similar to that in 2023, a report released by EY said on Wednesday. It will, however, be lower than the 10.4 per cent seen in 2022. According to the “Future of...
MUMBAI: The Reserve Bank of India (RBI) on Wednesday asked banks and non-banking financial companies (NBFCs) to provide customers with the option to choose from multiple networks for credit cards. The RBI has prohibited card issuers and networks from making any arrangement or agreement that restrains customers from availing...
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...