Business
Reforms And Investments Will Put Nation On Fast Track To Viksit Goal
DAVOS: India is set for exponential growth in various sectors, but regulatory reforms and significant investments are essential to sustain this momentum and meet future needs, said industry leaders during a discussion on Viksit Bharat: The Road to 2047 at the World Economic Forum on Friday. Rajiv Memani, chairperson...
Government approves Rs 500 Crore capital infusion in IFCI
NEW DELHI: Domestic financial institution IFCI on Friday said the government has approved Rs 500 crore capital infusion in the company through the preferential issue of shares. The Department of Financial Services has conveyed sanction of the President of India to release funds of Rs 500 crore to IFCI...
AIMTC Urges Government To Address Challenges Faced By Transport Sector
NEW DELHI: All India Motor Transport Congress (AIMTC) national president Harish Sabharwal on Friday asked the government to address issues like exorbitant increase in toll tax rates and misuse of the e-challan system. The charge handover and oath taking ceremony of the newly elected office bearers of AIMTC was...
CBIC Notifies Rules For Entities To Get TIN
NEW DELHI: Entities that are not required to get a GST registration but are required to make a tax payment under the GST Act provision can now obtain a Temporary Identification Number (TIN). The Central Board of Indirect Taxes and Customs (CBIC) has notified an amendment to GST rules...
RBI Penalises J and K Bank, Bank Of India, Canara Bank
MUMBAI: The Reserve Bank on Friday said it has penalised Jammu and Kashmir Bank, Bank of India, and Canara Bank for deficiencies in regulatory compliance. Jammu and Kashmir Bank has been penalised Rs 3.31 crore for contravention of certain norms related to financial inclusion – access to banking Services...
Used-Car Sales In India To Cross One Crore Annual Mark By 2030: Report
NEW DELHI: The Indian used-car market is expected to cross 1 crore sales mark annually by 2030 with offtakes increasing across both urban and smaller towns, according to a report by CARS24. As per the ‘Gear of Growth: The 2024 Indian Used-Car Market Report’, Maharashtra, Uttar Pradesh and Delhi...
RBI Monetary Policy Committee Member Nagesh Kumar Advocates Two Inflation Rates
NEW DELHI: RBI Monetary Policy Committee member Nagesh Kumar has suggested that there should be two inflation rates – one including food prices and the other without food prices – so that relevant rates could be taken into account for policy making. Chief Economic Advisor V Anantha Nageswaran in...
EPFO Adds 14.63 Lakh Net Members In November
NEW DELHI: Retirement fund body EPFO has added 14.63 lakh net members in November 2024, a growth of 4.88 per cent over the same month last year, according to the latest payroll data. The growth in net member additions signifies increased employment opportunities and heightened awareness of employee benefits,...
Some Equity Research Firms Shutting Shops After SEBI’s New Guidelines On Research Analysts
NEW DELHI: Markets regulator SEBI’s new guidelines on research analysts (RAs) are forcing several equity research firms publicly announcing plans to shut down their shops due to heightened compliance and operational requirements. The Securities and Exchange Board of India (Sebi), on January 8, came out with guidelines for Research...
Hindustan Unilever Stock Declines Nearly 4 Per Cent After Earnings Disappoint Investors
NEW DELHI: Shares of Hindustan Unilever Ltd declined nearly 4 per cent in the morning trade on Thursday after the FMCG major’s December quarter earnings failed to cheer the investors. The scrip of the company fell 3.8 per cent to Rs 2,253.85 apiece on the NSE. On the BSE,...
Irregularities Found In One Rupee Crop Insurance Scheme For Farmers
MUMBAI: Maharashtra Agriculture Minister Manikrao Kokate has admitted irregularities in the implementation of the one rupee crop insurance scheme for farmers, noting places of worship were shown as agricultural lands to claim benefits. More than four lakh crop insurance applications, some filed even by those residing outside Maharashtra, have...
Govt Draft E-Commerce Norms Need Tweaks To Suit Varied Biz Models: Experts
BENGALURU: Even though the government’s draft guidelines for ecommerce (ecom) platforms, which mandate self-regulatory measures to protect consumers from fraudulent practices, are well-intentioned, they must be tailored to accommodate the diverse business models adopted by different ecom companies, according to industry executives and experts. The draft guidelines, titled “E-commerce...
SEBI Plans Sips As Low As 250 To Widen Mutual Funds Reach
MUMBAI: Markets regulator Sebi on Wednesday proposed to launch monthly systematic investment plans (SIPs) for ticket size as low as Rs 250, aiming for wider financial inclusion. Calling this sachetisation of mutual funds, Sebi would partially subsidise the costs incurred by all the intermediaries for these small-ticket SIPs, it...
Executive Orders Signed By Trump Unlikely To Impact Budget 2025: Economists
NEW DELHI: A slew of sweeping executive orders signed by US President Donald Trump on the first night of his second presidency is unlikely to have a huge impact on the Budget as the government has factored in the broad policy action, according to economists. The economists, however, say...
India Hopeful Of Sector-Specific Deals As US Tariff Action Looms
NEW DELHI: India is evaluating multiple options to cope with the Trump 2.0 administration’s imminent tariff policies, including a truncated bilateral trade deal, and sector-specific give-and-take arrangements, official sources said here on Wednesday, requesting anonymity. The sources, however, maintained that no action plan has been firmed up yet. Decisions...
Major Relief To Mauritius Investors As Tax Board Clarifies On New Rule
NEW DELHI: In a major relief for foreign investors in India from Mauritius, Singapore and Cyprus, the Central Board of Direct Taxes (CBDT) has clarified that investments from these countries made prior to April 1, 2017 would be eligible for benign or zero capital gains tax, irrespective of whether...
Asset Monetisation Scheme 2.0 With Rs 2-Lakh Crore Annual Target On The Cards
NEW DELHI: With the current National Monetisation Pipeline (NMP) programme ending in March this year, the Centre may announce its next phase with annual asset monetisation goals of Rs 2 lakh crore for the next 4-5 years, to mobilise capital for investments and re-investments. The government had set an...
Petroleum Minister Sees Chances Of Higher Oil Imports From The US
NEW DELHI: India on Tuesday welcomed US president Donald Trump’s statement after assuming office to ramp up oil and gas production by the world’s largest economy, and “export American energy all over the world.” “There is a possibility of more energy purchase between India and U.S.,” minister for petroleum...
