Business
RBI Draft Proposals On Aligning Businesses May Impact Private Banks
MUMBAI: The Reserve Bank of India’s (RBI’s) draft proposals to align businesses of banks and their non-bank subsidiaries is likely to have an impact on major private sector banks, including HDFC Bank, Axis Bank, Kotak Mahindra Bank, and Federal Bank, according to Jeffries analysts. The RBI last week released...
India, Maldives Strengthen Ties; Inaugurate New Runway, RuPay Card
NEW DELHI: The inauguration of a new runaway in the Maldives built under an airport redevelopment project assisted by India and the official launch of the RuPay card in the island nation on Monday are aimed at boosting economic ties and tourism cooperation between the two countries. Prime Minister...
India To Establish 100 Food Testing Labs
NEW DELHI: Union Food Processing Minister Chirag Paswan on Monday said the government will build 100 food testing labs and 50 food irradiation centres as part of its efforts to boost processing levels and ensure quality. The minister asked the industry not to compromise on the quality of products...
India’s Domestic Air Passenger Traffic To Touch 300 Million By 2030: Naidu
NEW DELHI: India’s domestic air passenger traffic is projected to touch 300 million by 2030 and about USD 11 billion is being spent to develop airports, Civil Aviation Minister K Rammohan Naidu said on Monday. The minister also said India and France can work together to develop a robust...
Automobile Sales In India Drop 9 Per Cent Amid Sluggish Demand: FADA
NEW DELHI: Automobile retail sales in India declined 9 per cent year-on-year in September amid a massive buildup of passenger vehicle inventory due to sluggish demand, dealer’s body FADA said on Monday, urging original equipment manufacturers to take corrective steps. The overall registrations declined to 17,23,330 units last month...
Zhejiang International Trade Exhibition Kicks Off In Delhi
NEW DELHI: The 2024 Zhejiang International Trade (India) Exhibition commenced on October 5 at the Pragati Maidan Convention and Exhibition Center in New Delhi. Running until October 7, the event is headlined by the 39th MEDICALL exhibition, widely regarded as the premier medical trade show in India and South...
RBI May Hit Pause Button On Interest Rates Again
MUMBAI: The Reserve Bank of India (RBI) is seen keeping interest rates unchanged this week as the central bank’s Monetary Policy Committee (MPC) is likely to assess the durability of recent declines in inflation while keeping a wary eye on escalating tensions in West Asia, which pose risks to...
Private Sector Capex Likely To Improve Among Rising Biz Confidence: CII
NEW DELHI: Private capital expenditure by India Inc. is likely to increase amid improving domestic demand despite a weak external environment and rising shipping costs, a survey by Confederation of Indian Industry (CII) showed. The survey, conducted with over 200 firms of varying sizes, showed that CII’s Business Confidence...
India Must Liberalise FDI To Be A Developed Nation By 2047: ADB Chief Economist
NEW DELHI: India needs to further liberalise its foreign direct investment (FDI) policy, open up trade and not fear competition to be able to achieve its goal of becoming a developed nation by 2047, Albert Park, chief economist, Asian Development Bank, has said. “I think all the indications are...
IRDAI Seen Nudging Insurance Companies To Go Public
MUMBAI: The Insurance Regulatory and Development Authority of India (Irdai) is nudging insurers to go public. However, unlike the Reserve Bank of India (RBI), which has given banks a timeline to list, the insurance regulator is “using moral suasion during one-on-one meetings” with senior executives of insurance companies which...
IT Companies Appraisal, Hike Cycles Shift From June To September Quarter
BENGALURU: The timing of salary increases within many IT companies has shifted from the traditional April-June period to the third quarter of the year, introducing a level of uncertainty as the process is now influenced by the demand outlook. Salary increases have become more unpredictable in recent years, with...
Amul Set To Enter European Market After US Success
JAMSHEDPUR: Managing Director of AMUL and Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF) Jayen Mehta said AMUL’s recently launched milk in US has been “highly successful” and they are now ready to enter the European market, which would mark a historic moment for the brand. Delivering the 11th Dr...
Hindalco, JSW Steel Bid For Jharkhand Copper Mines
NEW DELHI: Aditya Birla Group firm Hindalco Industries and Sajjan Jindal-led JSW Steel are in the race for two copper mines in Jharkhand which will be put on sale this month, sources said. Both mines have a combined capacity of three million tonne per annum. Hindalco Industries and JSW...
Mcap Of Nine Of Top-10 Most Valued Firms Erodes
NEW DELHI: Nine of the top-10 most valued firms together lost a whopping Rs 4,74,906.18 crore in market valuation last week, with Reliance Industries and HDFC Bank taking the steepest hit, in line with weak trends in equities. Markets faced heavy drubbing last week amid worsening tensions in the...
High GST Rates Hinder Growth Of India’s Carbonated Soft Drinks Market
NEW DELHI: Carbonated soft drinks segment in India is unable to reach its potential in terms of scale expansion due to barriers such as high taxation under the GST regime despite government’s initiatives like ‘Make in India’ and ‘Aatmanirbhar Bharat’, according to a report by economic think tank ICRIER....
Auto Industry Expects Robust Sale During Festive Season
NEW DELHI: Auto industry players are eyeing robust performance in the ongoing festive period to lift overall consumer sentiment and set the tone for the rest of the year amid slowing demand. The festive season usually commences with Onam and ends with Diwali every year. Kia India National Head...
No Stopping India’s Growth, Reforms: PM
NEW DELHI: India will continue with its programme of structural reforms on its way to becoming a developed nation, Prime Minister Narendra Modi said, describing the country as a “sweet spot” amid global uncertainty. “The government is following the mantra of Reform, Perform and Transform… Bharat has made ‘process...
Ecommerce Companies Get Interim Stay On CCI Proceedings
NEW DELHI: The Karnataka High Court has imposed an interim stay on the competition watchdog’s proceedings against Flipkart and Amazon due to a procedural lapse on the part of the director general (DG) investigating alleged foreign direct investment (FDI) rule violations by the two ecommerce companies. The initial report,...
