Business
DoT Seeks ‘Time-Bound’ Switch By Telcos To Authorisation Rule
NEW DELHI: The Department of Telecommunications (DoT) wants all telecom licence holders to migrate to an authorisation regime in a time-bound manner so that existence of two separate frameworks, leaving room for potential litigation, could be avoided. “We are finalising the structure of the authorisation regime based on the...
India, Oman Trade Ministers Discuss To Advance Free Trade Agreement Negotiations
NEW DELHI: Trade ministers of India and Oman on Monday reviewed progress of the proposed free trade agreement (FTA) between the two countries and focused on advancing the negotiations for the pact. The agreement was discussed between Commerce and Industry Minister Piyush Goyal and Oman’s Minister of Commerce, Industry...
Government Invites Applications For SEBI Chief Post
NEW DELHI: The government on Monday initiated the process to find a successor for market regulator SEBI chief Madhabi Puri Buch, who was involved in an alleged conflict of interest row. The three-year term of Buch as Securities and Exchange Board of India (SEBI) chairperson ends on February 28....
TCI Q3 Profit Rises 27 Per Cent To Rs 102 Crore
MUMBAI: Multimodal logistics firm Transport Corporation of India (TCI) on Monday reported a 27.3 per cent year-on-year increase in consolidated Profit After Tax (PAT) to Rs 102 crore for the three months ended December 2024, driven by strong demand for warehousing, temperature-controlled logistics, and green multimodal solutions in Third-party...
India-Oman To Review Progress Of Free Trade Agreement Talks
NEW DELHI: India and Oman will review the progress of talks for the proposed free trade agreement (FTA) between the two countries during the visit of Commerce and Industry Minister Piyush Goyal to Muscat this week, an official statement said on Sunday. Though the negotiations for the proposed agreement...
Govt Plans Customised Social Security Policy For Gig Workers From FY26
NEW DELHI: The government could soon unveil a social security benefit plan for gig and platform workers, officials said. Transaction-based contribution by aggregators, or a common rate of contribution aimed at creating a sustainable and meaningful finance pool for the scheme, could be recommended by a panel in its...
Foreign Controlled Companies In India Can Use Stocks To Buy Stakes In Local Companies
MUMBAI: The Reserve Bank of India (RBI) has paved the way for foreign owned or controlled companies (FOCCs) in India to buy into local companies by issuing shares and swapping stocks. In absence of policy clarity, till now such deals were cut either with specific regulatory clearance or through...
Equity Mutual Funds Inflows Soar To Near Rs 4 Lakh Crore In 2024
NEW DELHI: Equity mutual funds witnessed a remarkable surge in inflows to nearly Rs 4 lakh crore in 2024, more than double the amount recorded in the preceding year, reflecting strong investor confidence and a continued shift towards long-term investing, particularly through Systematic Investment Plans (SIPs). Despite the strong...
IT Industry Bats For Deeptech Fund To Bolster Startup Ecosystem
NEW DELHI: India’s apex IT industry body Nasscom has batted for tweaks in safe harbour rules and widening the scope for utilisation of SEZ reinvestment reserves in its Budget wishlist, while advocating for creation of a central deeptech fund to bolster startup ecosystem in India. Creation of a grant...
Food Inflation May Drop To 6% In Near-Term, But Risks Remain: Analysts
NEW DELHI: An improvement in rabi sowing, favourable weather conditions, and above normal monsoon rains are expected to soften food inflation sharply from the current levels in the next three-to-four months, say analysts. But cereals and edible oils’ prices still remain a concern, and pose an upside risk to...
Liquidity Deficit Breaches Rs 3 Lakh-Crore Mark
MUMBAI: The liquidity shortage in the banking system has shot up to over Rs 3 lakh crore, levels that experts say are the highest in many years. The total amount of liquidity injected by the Reserve Bank of India (RBI) stood at Rs 3.15 lakh crore on January 23,...
Private Sector Activity Slows To 14-Month Low Of 57.9 In January: PMI Data
NEW DELHI: India’s private sector output grew at its slowest since November 2023 as the pace of new business intake softened in the services sector, which in turn offset the robust growth seen in the manufacturing sector during the month, according to the HSBC flash Purchasing Managers’ Index (PMI)...
India Must Step Up Trade Play With Fast-Growing Asia, Says Chairman, McKinsey Asia
DAVOS: India has a significant opportunity to deepen its engagement within Asia as the region is set to see an uptick in trade activities, Gautam Kumra, chairman, McKinsey Asia on Thursday while highlighting that 18 of the fastest-growing corridors and 13 of the largest trade corridors connect with Asia....
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...
