Business
Rupee Sinks To Record Low, Settles 58 Paise Down At 86.62 Against US Dollar
MUMBAI: The rupee logged its steepest single-day fall in nearly two years and ended the session 58 paise down at its historic low of 86.62 (provisional) against the US dollar on Monday, weighed down by a stronger American currency and surging crude oil prices. At the interbank foreign exchange,...
Mutual Funds Collect Rs 1.18 Lakh Crore Via NFO In 2024; Thematic Funds Dominates Space
NEW DELHI: Asset management companies launched 239 new fund offerings (NFOs) mobilising Rs 1.18 lakh crore in 2024, with sectoral or thematic equity funds emerging as the top choice of investors, according to a report by Germinate Investor Services Research. This was higher than 212 NFOs collecting Rs 63,854...
Insurance Reforms To See 100 Per Cent FDI Ceiling, Composite Licence
NEW DELHI: The much-awaited Insurance (Amendment) Bill to allow 100% foreign direct investment (FDI) in the sector may see the light of the day in the Budget session of Parliament. The proposed major amendment follows the tweaking of the Insurance Act in 2021, when the FDI limit was raised...
India’s Inflation Likely To Stabilise Around 4.3-4.7 Per Cent In FY26: Report
NEW DELHI: The central government has given the RBI the target to maintain inflation between 2 to 6 per cent band. It is called the tolerance band, while the median target is 4 per cent. Inflation in the country is likely to stabilize at an average of 4.3-4.7 per...
Robust Rural Growth To Continue For FMCG Firms In Q3
MUMBAI: With the high inflation still straining urban wallets, fast-moving consumer goods (FMCG) companies see faster sales volume growth continuing in the rural areas versus the urban regions in the December quarter. Q3FY25 will be the fourth straight quarter of rural volume growth outpacing urban volume growth, NielsenIQ data...
VCs Betting On NBFCs For Stable Investments
BENGALURU: Venture capital (VC) investments in the non-banking finance companies (NBFCs) surged in 2024, marking a notable pivot towards safer, proven business models with clear exit opportunities. Amid a tepid growth in the overall VC funding, NBFCs raised approximately $1.2 billion across 50 equity rounds, a jump of 70%...
Budget 2025: Plan Afoot To Decarbonise Power, Steel
NEW DELHI: India is working on a national carbon capture utilisation and storage (CCUS) mission to support decarbonising hard-to-abate sectors such as thermal power, iron and steel, and cement plants, people familiar with the matter told ET. The contours of the mission are being firmed up and an announcement...
Government Partially Restores Gas Supply To IGL, Adani-Total
NEW DELHI: The government has increased cheaper gas supply to city gas retailers IGL, Adani-Total, and Mahanagar Gas, restoring a major part of the allocation that was cut in 2024, according to regulatory filings by the companies. The government, in October and November last year, had cut supplies of...
FinMin To Meet Heads Of Banks To Review Financial Inclusion Schemes
NEW DELHI: Finance Ministry has called a meeting of heads of Public Sector Banks (PSBs) on Wednesday to review progress of various financial inclusion schemes, including Jan Suraksha and Mudra Yojana. The meeting, which would see participation from representatives of private sector banks, is scheduled to be chaired by...
CII Suggests 10-Point Agenda On Ease Of Biz Reforms Ahead Of Budget
NEW DELHI: Ahead of the upcoming Budget, industry body CII on Sunday suggested a 10-point agenda to drive ease of doing business reforms, aimed at reducing compliance burden, simplifying regulatory frameworks, and improving transparency. Among the “urgent policy interventions”, the industry body has recommended that all regulatory approvals —...
India’s Coal Import Rises Two Per Cent To 182 MT In April-November Period
NEW DELHI: India’s coal import rose by two per cent to 182.02 million tonnes (MT) in the April-November period of the current fiscal year. The country’s coal import was at 178.17 MT in the year-ago period, according to data compiled by business-to-business e-commerce company mjunction services ltd. However, the...
Amnesty Scheme For Customs May Be Announced In Budget 2025-26 To Reduce Litigation: Experts
NEW DELHI: In a bid to reduce litigation, Finance Minister Nirmala Sitharaman in the upcoming Budget may announce an Amnesty Scheme for customs to foster ease of doing business. “The main asks of the industry would certainly be aligned with the objectives of the government and one objective of...
US To Impose Sanctions On Russian Oil, Indian Supplies May Be Hit
NEW DELHI: Indian firms see a major disruption of Russian oil supplies as Washington imposes new sanctions to curb Moscow’s revenues, pushing refiners to scout for crude from the Middle East and the US, three Indian refining sources said on Friday. The sources said they understand that the new...
India’s Journey Toward Green Steel Production With Green Hydrogen
The Indian steel industry is gearing up to shift toward carbon neutrality with significant opportunities and challenges driven by global climate imperatives and domestic sustainability goals. The dynamics of the sector globally are evolving at a fast paceand as international regulations, such as the European Commission’s Carbon Border Adjustment...
Growth Trajectory Set To Return For Reliance Retail In December Quarter
The country’s largest organised retailer, Reliance Retail, may be back on the growth path in the third quarter of the current financial year backed by festive demand, sector analysts said. Parent Reliance Industries (RIL) is set to declare its financial results on January 16. In the result preview ahead...
IGX Expects To Receive Govt Nod To Launch Long-Duration Contracts Soon
NEW DELHI: The Indian Gas Exchange (IGX) is planning to launch long-duration contracts of 3-6 months on its platform and is expecting the petroleum ministry’s nod soon, its managing director and chief executive officer Rajesh Mediratta said on Friday. “We are awaiting clearance from PNGRB (Petroleum and Natural Gas...
Budget 2025 To Lay Road Map For Climate-Resilient Farming
NEW DELHI: The coming Budget is likely to announce several incentives aimed at boosting availability of climate-resilient seed varieties especially in cereals, pulses and oilseeds, besides aiming to promote agricultural practices like natural farming for reduction of chemical fertiliser usage, official sources said. They added that the Budget 2025-26...
IIP Growth Hits A Six-Month High Of 5.2 Per Cent In November On Low Base
NEW DELHI: Growth in India’s Index of Industrial Production (IIP) surged to a six-month high of 5.2 per cent in November 2024 from 3.7 per cent in the previous month, aided by a low base, data released by the National Statistics Office (NSO) on Friday showed. In November 2023,...
