crore in February, making it the highest monthly infusion in 23 months, driven by massive interest for thematic funds and launch of new fund offerings (NFOs). Also, the latest flow was about 23 per cent higher than inflows of Rs 21,780 crore in January. Moreover, monthly Systematic Investment Plan...
NEW DELHI: The Union Cabinet on Thursday evening approved an outlay of Rs 10,372 crore for five years for the India AI Mission, aimed at fostering innovation in artificial intelligence through public-private partnerships. Ahead of the general elections, the government also announced the extension of Rs 300 per LPG...
NEW DELHI: An inter-ministerial committee (IMC) led by the coal ministry on Thursday suggested that GST compensation cess should be imposed on an “ad valorem” (according to value) basis so that it is directly related to the price and quantity of coal, instead of a flat rate of Rs...
MUMBAI: Banks that issue business credit cards will have to monitor the end use of funds on account of those, the Reserve Bank of India (RBI) has mandated while amending its master directions for credit and debit cards. “Card-issuers may issue business credit cards to business entities/individuals for business...
NEW DELHI: The Narendra Modi government has drawn up a plan to introduce cross-border and group insolvency norms simultaneously through amendments to the Insolvency and Bankruptcy Code (IBC), as it expects to assume power for a third term, a government source told FE. “The ministry of corporate affairs has...
NEW DELHI: India could bring Big Tech companies under the ambit of the proposed digital competition law if they have 10% of their global user base or business transactions in the country, people aware of the details told ET. This is aimed at addressing potential antitrust concerns involving systemically...
NEW DELHI: Union minister Ashwini Vaishnaw on Thursday made a case for reforming economic laws to suit India’s growth requirement as has been done through enactment of three new criminal laws to replace the colonial-era legislations. Addressing an event organised by government think tank NITI Aayog, Vaishnaw said the...
NEW DELHI: State gas utility GAIL (India) Ltd and oil producer ONGC will explore possibility of using Shell’s import terminal at Hazira in Gujarat for importing ethane and other hydrocarbons to fuel their petrochemical ambitions. GAIL had in May last year signed a memorandum of understanding with Shell Energy...
MUMBAI: The Reserve Bank of India and Bank Indonesia (BI) on Thursday signed a Memorandum of Understanding to promote use of local currencies for bilateral transactions. The MoU was signed here for establishing a framework to promote the use of local currencies viz., the Indian Rupee (INR) and the...
NEW DELHI: India’s horticulture crops production is estimated to remain flat at 355.25 million tonne in 2023-24, despite a fall in onion output by 4.7 million tonne, according to the government data. Releasing the first advance estimates for 2023-24, the agriculture ministry said that the horticulture production in the...
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...