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NEW DELHI: IIFL Finance Ltd and JM Financial Products Ltd (JMFPL) will undergo a special audit to further probe their regulatory breaches, as the Reserve Bank has initiated the process for the appointment of auditors. The Reserve Bank has floated two separate tenders for the appointment of auditors for...
NEW DELHI: The Indian auto industry is gearing up to roll out an array of electric vehicle models over the next few years amid a renewed push by the government to encourage environment-friendly mobility solutions with the unveiling of a new policy. Mass market players like Maruti Suzuki, Hyundai,...
NEW DELHI: Miners’ body FIMI has urged the government not to impose any export duty on low-grade iron ore, stating that any such move would cause a significant loss of state revenues and employment and also affect foreign exchange earnings. In a representation to the government, the Federation of...
NEW DELHI: FPIs have shown a significant resurgence in their investment activity within the Indian equity markets this month, injecting over Rs 38,000 crore, mainly driven by favourable shifts in the global economic scenario and strong domestic macroeconomic outlook. The investment came following a modest investment of Rs 1,539...
NEW DELHI: India’s economic outlook for FY25 remains “bright”, the finance ministry said on Friday, noting that the economy will close the current fiscal with strong growth accompanied by stable inflation, robust external account and progressive employment scenario. “On the whole, India looks positively towards the dawn of FY25,”...
MUMBAI: The insurance regulatory has announced the creation of an ONDC-like electronic marketplace – Bima Sugam – which will serve as a digital public infrastructure. The marketplace is expected to be owned by insurance companies. Besides providing a platform for products, companies and distributors, Bima Sugam will allot insurance...
NEW DELHI: The international trade is expected to rebound in 2024, reversing the last year’s downturn, amid lingering geopolitical uncertainties, the United Nations Conference on Trade and Development (UNCTAD) said. In its Global Trade Update report, the UN’s trade and development body warned that the logistical challenges such as...
MUMBAI: The rupee on Friday hit a fresh closing low after depreciating 0.3 per cent against the dollar due to importers’ demand for the greenback and tracking Asian peers even if the country’s foreign exchange reserves hit an all-time high. The Indian currency settled at Rs 83.43 as compared...
SEATTLE/WASHINGTON: Earlier this week, Microsoft Corp. named artificial intelligence pioneer Mustafa Suleyman chief of its consumer AI business and hired most of the staff from his Inflection AI startup. A day before, Bloomberg reported that Alphabet Inc.’s Google was in talks to license its Gemini AI engine to Apple...
NEW DELHI: India is looking at Africa for minerals, including cobalt, and other critical minerals, Mines Secretary V L Kantha Rao said on Friday. The country is still engaging with Australia for lithium blocks, he said. Talking to reporters on the sidelines of a function here, the secretary said,...