Business
Bank Bond Issuance Likely To Touch Rs 1.2 Trillion Level In FY25: Report
MUMBAI: Banks’ borrowings through bonds is expected to reach Rs 1.2-1.3 trillion in this financial year (FY25) amid tight liquidity conditions and credit outpacing deposit growth, according to rating agency ICRA. Bond issuances in FY25 may surpass the earlier peak of Rs 1.1 trillion in FY23, said the agency...
Group Of Ministers Not In Favour Of GST Relief To Real Estate Sector
NEW DELHI: Most members in the Group of Ministers (GoM) of the Goods and Services Tax (GST) Council are not in favour of any relief to the real estate sector with regard to the tax incidence on collaborative ventures between developers and land owners. “Most members feel the rate...
FIEO Urges Government To Extend Interest Subvention Scheme For Five Years
NEW DELHI: Apex exporters body FIEO on Tuesday urged the government to extend the interest subvention scheme for five years to help increase credit flow in the sector in order to boost the country’s shipments, which registered a steepest decline in 13-month falling 9.3 per cent in August to...
Piyush Goyal Urges Realtors To Ensure Guaranteed ESIC, PF Registrations For Seven Million Workers
SYDNEY: Union Commerce and Industry Minister Piyush Goyal on Tuesday asked the real estate industry to provide guaranteed ESIC and provident fund registrations for 7 crore people working in this sector, besides adopting new form of construction process for fast project execution with less pollution. Addressing an event organised...
President Murmu Calls For Timely Audit Of Public Finance
NEW DELHI: Underscoring the importance of timelines in auditing public finance, President Droupadi Murmu on Tuesday said if a wrong is pointed out well within time, it can be corrected and help save huge amount of public money. She emphasised the need for audit bodies keeping pace with technological...
SBI Predicts Private Capex Uptick In Second Half Of FY25
NEW DELHI: SBI Chairman C S Setty has said the bank has already got Rs 4 lakh crore strong credit pipeline from India Inc and expressed hope that capital expenditure by the private sector is expected to pick up in the second half of the fiscal year. “We see...
Mahindra In Talks To Acquire 50 Per Cent In Skoda-Volkswagen India
NEW DELHI: Indian conglomerate, Mahindra and Mahindra (M&M) is in advanced negotiations with Skoda Auto Volkswagen India Private Limited (SAVWIPL) according to a report in Autocar Professional. According to the report, it is believed that M&M is to acquire a 50 percent stake in SAVWIPL for a consideration of...
Corporate Card Use For Personal Expenses On Rise To Bypass Rules
MUMBAI: Many well-heeled persons have perfected a mechanism to use corporate credit cards for personal expenses during overseas travels. Amid fears that such overseas spends could soon come under the annual limit on foreign remittance by an individual, these high net worth customers believe that they would avoid breaching...
India Joins Three More Indo Pacific Economic Framework Pacts
NEW DELHI: India on Sunday signed up to join the clean- and fair economy components, and the overarching agreement of Indo Pacific Economic Framework for Prosperity (IPEF), at Delaware in the US, in the presence of Prime Minister Narendra Modi, who is on a 3-day visit to the country...
New Group Audit Norms To Cover A Wide Spectrum Of Economic Value
NEW DELHI: The National Financial Reporting Authority (NFRA) indicated that its revised Standards on Auditing 600 (SA 600), which are aimed at improving the quality of group audits, would cover just 1.8% of the 1.7 million “active” companies, to allay the fears that the new norms would result in...
Policymaking Is Nothing If Not About Trade-Offs: CEA V Anantha Nageswaran
BENGALURU: Policymaking is nothing if not about trade-offs, Chief Economic Advisor (CEA) V Anantha Nageswaran said as he underlined the importance of a stronger collaboration between academia and policymakers. Speaking at the launch of Isaac Centre for Public Policy (ICPP) at Ashoka University in Bengaluru on Saturday, he emphasised...
Index Of Labour Demand, Supply In Book Of Job Soon
NEW DELHI: India is planning to develop an index that will map the demand and supply gap of workers in recognised occupations in every state. The Ministry of Labour and Employment is developing the Occupational Shortage Index (OSI) in consultation with the International Labour Organization (ILO), a government official...
Government To Start FY26 Budget Making Exercise From Next Month
NEW DELHI: The finance ministry will commence the exercise to prepare the annual budget for 2025-26 from the second week of next month in the backdrop of the Indian economy recording 7 per cent growth rate for the fourth consecutive year. The budget for the next financial year would...
India, EU To Have New Round Of FTA Talks
NEW DELHI: Senior officials of India and the 27-nation European Union (EU) will commence the next round of talks for a proposed free trade agreement from Monday here, an official said. The agreement is aimed at further boosting bilateral trade and investments between the two regions. The two sides...
Vodafone Idea Commits Rs 30,000 Crore To Nokia, Ericsson, Samsung For Network Upgrade
NEW DELHI: Debt-ridden Vodafone Idea on Sunday said it has awarded contracts worth about Rs 30,000 crore to Nokia, Ericsson and Samsung for supply of 4G and 5G network equipment for three years. It is the largest deal awarded by any Indian telecom operator during this year. The deal...
GCCI Seeks Review Of SC’s Mineral Taxation Ruling
NEW DELHI: The Goa Chamber of Commerce and Industries (GCCI) has demanded an urgent review of the mineral taxation ruling by the Supreme Court, stating that the increased cost of mining will inevitably lead to higher prices for essential commodities, including steel, power and cement. The Supreme Court last...
Users Threaten To Quit UPI Over Fees: Report
NEW DELHI: Around 75 per cent UPI users will stop using it if any transaction charge is levied on the service, a survey by Localcircles said on Sunday. The survey found that 38 per cent of users make over 50 per cent of their payment transactions via UPI instead...
Gap In Credit, Deposit Growth Shrinking But Challenges Remain: RBI
MUMBAI: The gap between credit and deposit growth in banks, which has been a major concern for the Reserve Bank of India (RBI) over the past two years, is finally narrowing, according to the latest State of the Economy report released by the central bank on Friday. As on...
