Business
SBI Q3 Profit Surges 84 Per Cent To Rs 16,891 Crore
NEW DELHI: The country’s largest lender SBI on Thursday reported an 84 per cent jump in standalone net profit to Rs 16,891 crore in the December quarter. State Bank of India (SBI) had earned a standalone net profit of Rs 9,164 crore in the year-ago period. The bank’s total...
India Inks Contract With Russia For Procurement Of Anti-Ship Cruise Missiles
India has officially signed a contract with Russia for the procurement of anti-ship cruise missiles, a strategic move aimed at enhancing the combat capabilities of the Indian Navy’s submarine fleet. The contract was finalized on February 4, 2025, during a ceremony in New Delhi attended by Defence Secretary Rajesh...
India, Japan Discuss Steel Trade, Technology Collaboration At Third Steel Dialogue
NEW DELHI: The 3rd India-Japan Steel Dialogue was held on February 4, 2025, at Vigyan Bhavan, New Delhi, jointly organized by the Ministry of Economy, Trade and Industry (METI), Japan, and the Ministry of Steel, India. The dialogue was co-chaired by Vinod Kumar Tripathi, Joint Secretary, Ministry of Steel,...
Ola Electric Enters EV Motorcycle Segment With Launch Of Roadster X Series
MUMBAI: Ola Electric, the leading brand in the electric two-wheeler market, has entered the electric motorcycle segment with the launch of the Roadster X series. The lineup includes five variants, with introductory prices starting at Rs 74,999. Deliveries for the Roadster series are set to begin in mid-March. The...
ONGC Sets FY26 Capex Target At Rs 36,920 Crore
State-owned oil exploration and production company Oil and Natural Gas Corp (ONGC) has set its capex target for the upcoming financial year 2025-26 at Rs 36,920 crore, the company said in its investor meet. Of this, the company intends to spend 38% as capital, 30% in development drilling, and...
Get Out Of The Way; Deregulation Critical For MSMEs As Economy Seen Growing 6.3-6.8% In FY26: CEA
NEW DELHI: India’s economic growth might not recover from the four-year low of 6.4% seen for FY25 (first advance estimates), in the next financial year, according to the Economic Survey 2024-25 tabled in Parliament on Friday. It stressed the need to employ the domestic levers with greater vigour to...
New Agency Likely To Run BharatTradeNet
NEW DELHI: BharatTradeNet (BTN) that the government has proposed for a single interface for trade documentation will need a specialised agency for implementation and would take at least 2-3 years to become operational, a senior official said. “Whatever is required to achieve the objective of BharatTradeNet cannot be done...
Growth In Services Sector Slows To More Than 2-Year Low: PMI Survey
MUMBAI: Growth in India’s dominant services sector in January slumped to the slowest in more than two years as demand softened but remained strong and led to a substantial rate of hiring, said a private survey on Wednesday. The HSBC final India Services Purchasing Managers’ (PMI) Index, compiled by...
New RBI Governor Set To Begin Interest Rate Cuts As Global Risks Escalate
MUMBAI: India’s new central bank governor is expected to deliver an interest rate cut in his first policy meeting, shifting the focus to boosting economic growth as global risks escalate. Governor Sanjay Malhotra, who took charge in mid-December, is likely to depart from the hawkish approach of his predecessor,...
Plan To Raise Rs 16,000 Crore From Sale Of MTNL, BSNL Assets In Last Lap
NEW DELHI: The finance ministry has firmed up a plan to raise ₹16,000 crore by selling off assets belonging to state-run telecom companies Mahanagar Telephone Nigam Ltd (MTNL) and Bharat Sanchar Nigam Limited (BSNL). The proposal, already cleared by the National Land Monetization Corporation (NLMC) and the Department of...
Budget 2025 Tax Cuts To Boost Demand And Consumption: Rating Agencies
NEW DELHI: The Union Budget 2026 will boost growth over the next few years by increasing domestic demand through tax cuts for households, S&P Global ratings said on Tuesday. S&P expects India will hit its deficit targets despite revenue loss from lifting the threshold for minimum taxable income and...
TRAI Paves Way For Rs 18,000-Crore 5G Spectrum Auction
NEW DELHI: The Telecom Regulatory Authority of India (Trai) has given its go-ahead for the auction of Rs 17,940-crore new 5G spectrum in the 37-40 GHz band in all the 22 circles. The band, which is in the millimetre wave, is crucial for capacity additions by telecom operators and...
US-China Trade War May Open New Opportunities For Indian Exporters
NEW DELHI: The restart of a tariff war between the United States (US) and China may have a positive impact on Indian exporters, as observed from the previous trade war during US President Donald Trump’s first term. “When the trade war between the US and China took place last...
FY25 Target To Fund Projects Via Green Bonds Pruned 27%
NEW DELHI: The government has cut its FY25 target for financing projects and schemes through the green bond proceeds by 27% from the budget estimate and intends to maintain this level next fiscal as well amid muted investor appetite, a senior official said. Sovereign green bonds debuted in FY23...
Lenders Chase Medium-Term Deposits For Liquidity Cover
KOLKATA: Banks are tuning their deposit mobilisation strategy to shore up the medium-term maturity bucket in a bid to comply with the proposed liquidity coverage ratio (LCR) rules. The move also helps lenders balance asset-liability management better. “As LCR looks at potential outflows in a span of one month...
Shein India To Keep Data Local, Partner With Reliance Retail For Sales
NEW DELHI: The new Shein India application, which went live last Friday, has products which are manufactured, marketed and sold only by Nextgen Fast Fashion, a fully owned subsidiary of Reliance Retail Ventures Ltd. Nextgen manufactures these products on the Shein India platform through a wide network of Indian...
Centre Frames Schemes To Empower Exporters
NEW DELHI: The government is framing schemes for MSME exporters to provide credit at easy terms, promote alternate financing instrument through strengthening factoring services for them, and offer assistance to deal with non-tariff measures imposed by other countries, an official said on Tuesday. The commerce, MSME and finance ministries...
China Imposes Tariffs On US Goods, Launches Investigation Into Google
BEIJING: China countered President Donald Trump’s tariffs on Chinese products with tariffs of its own on multiple US imports Tuesday as well as announcing an antitrust investigation into Google and other trade measures. US tariffs on products from Canada and Mexico also were to go into effect Tuesday, though...
