NEW DELHI: Capital markets regulator Sebi has asked mutual fund houses to put in place a framework to safeguard investors, who invested in smallcap and midcap schemes, amid a “froth building up” in these categories. Also, the regulator has suggested steps such as restrictions on inflows in these segments,...
NEW DELHI: India’s core sector output, which measures production by eight key industries, grew by 3.6 per cent in January, a 15-month low, as per a government data update. A lower growth of 0.7 per cent was recorded in October 2022. The base effect combined with a single digit...
MUMBAI: The Reserve Bank of India (RBI) on Thursday revised the framework for Bharat Bill Payment Systems (BBPS) Directions, enabling non-bank payment aggregators (PAs) to participate in the system as operating units. The banking regulator said entities that are authorised to operate as PAs, including those who have been...
NEW DELHI: India’s post-pandemic robust economic momentum will continue for the fourth year in a row with a likely 7% expansion in the next financial year, Chief Economic Adviser V. Anantha Nageswaran said on Thursday. The growth will be supported by an expected normal monsoon, better rural demand, improved...
NEW DELHI: The Union Cabinet on Thursday approved setting up three semiconductor-making units by firms, including Tata Group and Japan’s Renesas, at an investment of Rs 1.26 lakh crore as part of an attempt to cut India’s dependence on imports to meet requirements of chips. The units which will...
NEW DELHI: The Union Cabinet on Thursday approved the amendment in the MMDR Act to specify the royalty rate on 12 critical and strategic minerals, an official statement said. A decision in this regard was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi,...
NEW DELHI: The government on Thursday approved a rooftop solar scheme, PM-Surya Ghar: Mufti Bijli Yojna, with an outlay of Rs 75,021 crore, to provide up to Rs 78,000 subsidy for the installation of solar plants and 300 units free power for one crore households. Briefing media after the...
NEW DELHI: Foreign direct investment (FDI) inflows in India declined 13 per cent to USD 32.03 billion in April-December 2023, dragged down by lower infusion in computer hardware and software, telecom, auto, and pharma sectors, according to the latest government data. FDI inflows stood at USD 36.74 billion during...
MUMBAI: Lagging deposit accretion poses the risk of constraining credit growth for banks in FY25, India Ratings and Research said on Thursday. Maintaining its “neutral” outlook on the banking sector for FY25, the agency said the deposit growth is likely to moderate to 12-13 per cent in FY25 from...
NEW DELHI: The Indian retail market is expected to almost double its size to reach $2 trillion in the coming decade, stated a report released by the Boston Consulting Group (BCG) and Retailers Association of India (RAI) on Wednesday. The report, titled Unlocking the $2 Tn retail opportunity in...
ABU DHABI: India and South Africa on Wednesday blocked a China-led initiative on investment facilitation at the WTO, in a move that will make it unlikely for the proposed Investment Facilitation Development to be part of the WTO agenda and outcome. Officials said the two nations protested and filed...
MUMBAI: Mukesh Ambani-owned Reliance Industries, Viacom18 Media and The Walt Disney Corporation on Wednesday entered an agreement to form a joint venture that would merge the television and digital streaming businesses of Viacom18 and Star India and create an entertainment giant in India. A joint statement pointed out that...
NEW DELHI: Following the release of the Household Consumption Expenditure Survey (HCES) report after 11 years, the debate on the poverty line estimates has gained ground after the Niti Aayog and the State Bank of India (SBI) claimed a significant decline in the headline poverty rate. While the SBI...
NEW DELHI: The government kick-started the process for additional stake sale in General Insurance Corporation (GIC Re), with roadshows in key global financial hubs including New York, Singapore, Hong Kong, Dubai and London. According to an official source, the outreach elicited “quite positive response” from global investors, in what...
NEW DELHI/SINGAPORE: Fresh U.S. sanctions on Moscow threaten to dent Russian oil sales to India, the biggest buyer of Russian seaborne crude, and complicate efforts by Indian state refiners to secure annual supply deals, three industry sources familiar with the matter said. Washington on Friday imposed sanctions to mark...
NEW DELHI: The Mines Ministry will launch the second round of critical and strategic minerals auction on Thursday. The auction shall be held online through a two-stage ascending forward auction process. The eligible bidder shall be selected based on the highest percentage of the value of mineral despatched quoted...
NEW DELHI: Coal India and Bharat Heavy Electricals Ltd (BHEL) on Wednesday announced the signing of a joint venture agreement for setting up of an ammonium nitrate plant as a part of its coal gasification project. The joint venture will initiate the ‘coal to chemicals’ business by first setting...
KOLKATA: From addressing challenges in value chain to decarbonisation and sustainability, steel companies are tapping into the startup ecosystem for fresh ideas and breakthrough technologies. Tata Steel’s flagship startup engagement programme, Innoventure, is in its fifth year. About 55 per cent of its current engagements with startups are focused...