Business
AI Firm BRAIIN Holdings Forays Into India, Plans To Invest $100 Million
BENGALURU: New York-based artificial intelligence and robotics firm BRAIIN Holdings is entering the Indian market and has acquired prominent CXaaS (customer experience-as-a-service) company Exato.ai which serves as a strategic foundation for its operations in India. With this acquisition, the company has bolstered its presence in the customer and employee...
Key IBBI Tweaks May Be Finalised In December
NEW DELHI: The Insolvency & Bankruptcy Board of India (IBBI) is expected to finalise crucial amendments to regulations – from those seeking to make life simpler for home buyers to those for personal and companies’ insolvency proceedings, insolvency professionals and liquidation – next month as it seeks to improve...
A 30 Per Cent Jump In States’ Tax Share, Yet Transfers Slow
NEW DELHI: The 16th Finance Commission will have a tough task, primarily because the mismatch between the resource mobilisation by the Centre and state governments and the rising requirements of spending of public monies on socio-economic development and critical infrastructure creation refuses to go away. In this context and...
Surplus CPSE Dividend Unlikely To Offset Disinvestment Revenue Shortfall In FY24
NEW DELHI: Unlike in the last fiscal, surplus dividend by Central Public Sector Enterprises (CPSEs) may not entirely make up for an expected steep shortfall in the government’s disinvestment proceeds in FY24 from the budgeted Rs 51,000 crore, now that the strategic sale of IDBI Bank could spill over...
PSU Insurers’ Stocks Surge On Attractive Valuation, RBI’s Risk Weight Norms
MUMBAI: A combination of factors led to a surge in the share price of state-run insurance companies on Friday, with general insurer New India Assurance’s (NIA) stock hitting the upper circuit. Life Insurance Corporation of India (LIC) surged 10 per cent. The state-run re-insurer General Insurance Corporation of India...
India, EU Sign Pact For Ties On Semiconductors
NEW DELHI: India and European Union on Friday signed a Memorandum of Understanding on cooperation on semiconductors ecosystem which will facilitate investments, joint ventures and technology partnership including manufacturing facilities. The move is in sync with India’s plan to provide incentives worth $10 billion for chip manufacturing in the...
SEBI Proposes Easing Trading Plans For Company Insiders
MUMBAI: The Securities and Exchange Board of India (Sebi) has proposed a significant revamp of the “trading plan” framework, which would allow insiders to trade their company shares with greater flexibility. The proposed changes include the elimination of the “black-out” period, a reduction in the cool-off period, and relatively...
Government Looks To Expand NCLT, May Add Up To 100 Members
NEW DELHI: In one of the biggest moves to improve the functioning of the National Company Law Tribunal (NCLT), the government is discussing a massive expansion, which could see an addition of up to 100 members. While the current sanctioned strength is 63, typically there are always vacancies with...
New Finance Panel May Tweak Formula
NEW DELHI: The government is likely to ask the next Finance Commission to consider a higher weight for the human development index (HDI) and sustainable development goals (SDGs) while recommending the distribution of resources among states. It may also ask the commission to weave in climate goals in its...
Urban Consumption Likely To Propel India’s GDP Growth In July-September
NEW DELHI: The Indian economy is likely to post better than anticipated growth in the second quarter (July-September) owing to robust urban consumption and expansion in services, a Business Standard analysis of high-frequency indicators showed. While gross domestic product growth in the September quarter is expected to come below...
Many Global Investors Go Slow On India Private Credit
MUMBAI: Private credit may be the buzzword in the investing world, but many bulge bracket investors have remained tight-fisted as far as the Indian markets are concerned. While those like Carlyle, SoftBank and CDPQ, who were exploring an entry into the Indian private credit market, have kept away so...
Govt Plans More Steps To Curb Retail Food Inflation
NEW DELHI: The government is set to take a slew of measures to contain the stubborn retail food inflation, including through intervention in pulses markets, a senior official said on Thursday. “While the retail intervention in selling pulses is challenging, it is an effective way to curb the possibility...
India Set To Kick Off Three Mega Defence Projects Worth Rs 1.4 Lakh Crore
NEW DELHI: India is now set to give preliminary approval to three mega indigenous projects to manufacture another aircraft carrier, 97 more Tejas fighters and 156 Prachand light combat helicopters, which together will be worth around Rs 1.4 lakh crore. The Rajnath Singh-led defence acquisitions council is likely to...
RBI Governor Flags Bank-NBFC Links As ‘Contagion Risk’
MUMBAI: Concentrated borrowing linkages between non-bank financiers and mainstream lenders may pose contagion risks, Reserve Bank of India (RBI) governor Shaktikanta Das said, pointing to potential sectoral fault lines a week after a concerned regulator sought to restrain the recent runaway growth in unsecured advances and safeguard the broader...
BMS-Backed Union Stages Protest Demanding Restoration Of Old Pension Scheme
NEW DELHI: Members of the Government Employees National Confederation (GENC) on Wednesday staged a protest, at Jantar Mantar in New Delhi, demanding scrapping of the National Pension System (NPS) and restoration of the Old Pension Scheme (OPS). The protest by GENC — affiliated to the Bharatiya Mazdoor Sangh (BMS),...
NBFCs Likely To See Assets Growth Moderating To 16-18% In FY24: CRISIL
NEW DELHI: The growth in the country’s NBFC sector is expected to be moderately lower than 16-18 per cent in the current fiscal because of relatively slower expansion on unsecured retail loans due to the recent regulatory measures issued by the RBI, CRISIL Ratings said on Wednesday. Assets Under...
India-Asean Trade Pact Review: India Pitches For Tighter Rules Of Origin
NEW DELHI: The review of Asean-India Trade in Goods Agreement (AITGA) will start with discussions on making the Rules of Origin (ROO) more comprehensive and detailed, as New Delhi is keen to remove the scope for exporters from third countries to exploit the preferential tariffs, a senior official said....
M&A Activity Falls To $14.58 Billion In 2023, Lowest In 12 Years
MUMBAI: Hit by a dearth of big-ticket deals, India’s merger and acquisition (M&A) activities fell 6.24 times to $14.58 billion in calendar year 2023 (YTD), its lowest in the past 12 years. While geopolitical developments have played their part, the deal-making scenario continues to be restrained for the rest...
