Business

RBI Chief Flags Outlier Growth In Personal Loans, Exposure To NBFCs

MUMBAI: Outlier growth in personal loans and exposure to non-banking finance companies (NBFCs) were among the prominent issues that RBI top brass discussed with the chiefs of public sector banks and select private sector banks in a meeting on Wednesday. The discussion on the aforementioned issues came about three...

Feb 15 · >

Industry Bodies Urge Centre To Postpone Implementation Of MSME-Payment Norm

NEW DELHI: Industry bodies such as Confederation of All India Traders (CAIT) and Clothing Manufacturers Association of India (CMAI) have urged the Centre to postpone implementation of the MSME payment amendment in the income-tax. According to 44 (b) (h), any payment made to registered micro, small or medium enterprises...

Feb 15 · >

Absence Of Global Firms In India’s E&P Sector May Be Due To Lacklustre Discoveries: IEA

NEW DELHI: Absence of top international oil companies from India’s exploration and production (E&P) sector could be due to lacklustre discoveries in the last 23 years even as the government has undertaken several fiscal and licensing reforms. The International Energy Agency (IEA) in a report said while the recent...

Feb 15 · >

IRDAI Proposes 30 Days ‘Free Look’ Period For Policies From Date Of Receipt

MUMBAI: The Insurance Regulatory and Development Authority of India (Irdai), on Wednesday, proposed 30 days ‘free look’ period for policies sold physically or through digital channels from the date of receipt of the policy document. A ‘free look’ period is the length of time during which a policyholder can...

Feb 15 · >

Govt Mulls Component-Linked Incentive Plan To Check Imports And Increase Electronics Exports

NEW DELHI: After achieving success in domestic manufacturing of global electronics products like iPhones, the government is now working on a component-linked incentive scheme to make India both a product nation as well as a component-producing destination. The component-linked incentive scheme will encourage the production of electronics parts besides...

Feb 14 · >

DoT Working On Norms For Satcom Spectrum Allocation

NEW DELHI: The Department of Telecommunications (DoT) is finalising modalities around administrative allocation of satellite spectrum, which is likely to include clauses such as the airwaves will only be given to offer services through a fixed terminal, officials aware of the details told ET. “Terms and conditions in the...

Feb 14 · >

American Retail Major Walmart Sourcing From India Hits $30 Billion In 20 Years

NEW DELHI: American retail major Walmart has cumulatively sourced products worth $30 billion from India over the last two decades even as it’s working towards an annual sourcing target of $10 billion by 2027, Andrea Albright, executive vice-president – sourcing, Walmart, said here on Tuesday. Albright was speaking at...

Feb 14 · >

Moody’s Revises Outlook On 4 Adani Firms To ‘Stable’ From ‘Negative’

MUMBAI: In a show of confidence, Moody’s Investors Service on Tuesday revised the outlook on four Adani Group companies to ‘stable’, a year after revising it to ‘negative’ following a unverified report by US-based short seller, Hindenburg Research. The global ratings agency changed the outlook to ‘stable’ on Adani...

Feb 14 · >

Core Inflation Seen Below 4 Per Cent In Near Term

NEW DELHI: Continuous easing in core inflation is likely to provide confidence to the Reserve Bank of India’s Monetary Policy Committee as it augurs well for the expected moderation in the retail inflation trajectory, economists said. Core inflation – or inflation excluding food and fuel – eased to 3.6...

Feb 14 · >

Indian Railways Liable To Pay Cross Subsidy Surcharge To Discoms: APTEL

NEW DELHI: The Appellate Tribunal for Electricity (APTEL) has ruled that Indian Railways is not a deemed distribution licensee and is liable to pay cross subsidy surcharge to Discoms for the power it procures. The order, pronounced on Monday, was to settle the dispute between Indian Railways and Discoms...

Feb 14 · >
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