Business

RBI Consolidates Reporting Norms For REs, Eases Compliance Burden

MUMBAI: To reduce the burden of compliance on regulated entities (REs), the Reserve Bank of India (RBI) on Tuesday issued a master direction that removed obsolete instructions and consolidated 20 existing instructions, including one for finance companies. While specifying timelines for reporting, it also reduced time for filing returns....

Feb 28 · >

GDP Growth Seen Slowing To 6.7 Per Cent In Q3

NEW DELHI: India’s economy likely grew at a three-quarter low of 6.7% in Q3 FY24 as compared to 7.6% in the previous quarter, mainly due to fading away of the low base effect that had supported growth in H1, an FE poll of 20 economists showed. In H1, the...

Feb 28 · >

Services Pact With Voluntary Obligations Comes Into Force

ABU DHABI: Around 72 nations have agreed to take on additional obligations in services under the General Agreement on Goods in Services (GATS) to ease non-goods trade among themselves and extended the similar concessions to all other members of the World Trade Organisation (WTO). They have added these obligations...

Feb 28 · >

Vodafone Idea Plans To Raise Rs 45,000 Crore Via Debt & Equity

NEW DELHI: Vodafone Idea’s board on Tuesday approved a fundraise of up to Rs 20,000 crore through a combination of equity and equity-linked instruments. Apart from this, the company is also looking to raise an additional Rs 25,000 crore through debt, thereby taking the total fundraise to Rs 45,000...

Feb 28 · >

Roche Launches Multiple Sclerosis Treatment Drug In India

NEW DELHI: Roche Pharma India on Tuesday launched a drug for the treatment of Multiple Sclerosis (MS), expanding its neurology portfolio to cater to unmet needs of patients grappling with the disease. The company has introduced Ocrevus (Ocrelizumab) which is the first and only approved disease modifying therapy for...

Feb 28 · >

Circumventions Of Rules A Generic Problem In AIFs

MUMBAI: Sebi’s Whole Time Member Ananth Narayan on Tuesday said circumvention of regulations is an industry-wide and generic issue with the Alternate Investment Fund ecosystem. Narayan stressed that the capital markets regulator wants to learn from the industry and work in close collaboration with it to frame the rules...

Feb 28 · >

Firms To Dole Out 10 Per Cent Average Salary Hike This Year

NEW DELHI: Companies in India are expected to dole out an average of 10 per cent salary increase this year, with automobile, manufacturing and engineering sectors anticipated to witness the highest hikes, says a survey. In 2023, the average salary hike was 9.5 per cent, according to consultancy firm...

Feb 28 · >

Markets Rebound On Gains In Index Heavyweights

MUMBAI: Benchmark equity indices Sensex and Nifty rebounded on Tuesday following buying in index major Tata Consultancy Services, Tata Motors and Sun Pharma amid mostly firm global markets. The 30-share BSE Sensex climbed 305.09 points or 0.42 per cent to settle at 73,095.22. The index was hit by volatility...

Feb 28 · >

Everything Falling Into Place For India Story To Flourish: Goyal

NEW DELHI: Commerce and Industry Minister Piyush Goyal on Tuesday said everything is falling into place for “India story” to flourish and make the country a ‘Viksit Bharat’ or a developed nation by 2047. Addressing a session on ‘Viksit Bharat @ 2047: Viksit Bharat & industry’, organised by industry...

Feb 28 · >

Growth Seen At 6.6 Per Cent In Q3, 7 Per Cent For FY24

NEW DELHI: India likely grew 6.6% in the third quarter this fiscal year, according to the median of estimates in an ET poll of 15 economists, decelerating from 7.6% in the preceding three months. Forecasts ranged from 6% to 7.2% for the quarter ended December. The Reserve Bank of...

Feb 27 · >
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