Business
HAL To Deliver Last Four Tejas MK-1 Trainers To IAF In 6 Months
NEW DELHI: State-run aircraft maker Hindustan Aeronautics Limited (HAL) will deliver the last four light combat aircraft (TEJAS MK-1) trainers to the Indian Air Force by March 31, 2025, with the twin-seater jet filling a key training role and doubling as a fighter if needed, officials aware of the...
WPI Inflation Drops To 4-Month Low Of 1.31% In August On Lower Prices
NEW DELHI: India’s wholesale price index (WPI)-based inflation fell to a four-month low of 1.31 per cent on an annual basis in August from 2.04 per cent in July due to a reduction in the prices of manufactured products and food items, according to data released by the Ministry...
NBFCs Throng Bond Market To Fund Festival Credit Demand As Bank Funding Slows
MUMBAI: A number of non-banking financial companies (NBFCs) have tapped into the debt capital market ahead of the festival season to meet increasing credit demand as bank funding slows. On Tuesday, Aptus Value Housing Finance secured Rs 300 crore at an interest rate of 8.75 per cent through bonds...
India’s Exports Shrink 9.3% In August, Trade Deficit At 10-Month High
NEW DELHI: India’s trade deficit widened to a 10-month high of $29.7 billion in August as imports hit a record high of $64.4 billion on doubling of gold inflows, and exports contracted for the second month in a row to $34.7 billion due to softening of oil prices and...
NFRA Moots Changes To Group Audit Norms
NEW DELHI: The National Financial Reporting Authority has issued a draft of the revised Standards on Auditing 600 (SA 600), and sought public comments on it, as the agency aims to improve the quality of group audits in the country, which is “severely deficient” as of now. The key...
Free Trade Agreement Talks With UK To Resume Next Month
NEW DELHI: India and the UK are expected to restart the negotiations on the Free Trade Agreement in October as the new Labour government in the island nation is currently being briefed about the status of the talks by their officials, commerce secretary Sunil Barthwal said Tuesday. The two...
Steel Industry Urges Govt To Review FTAs To Address Chinese Dumping In India
India’s trade data for August 2024 has drawn mixed reactions from industry experts, reflecting both optimism and concern. The PHD Chamber of Commerce and Industry (PHDCCI) praised India’s resilience in exports, highlighting a robust 5.3 per cent year-on-year growth in overall exports between April and August 2024. The cumulative...
India, China Imports Up 15.55 Per Cent In August
NEW DELHI: India’s exports to China dipped by 22.44 per cent to USD 1 billion, while imports rose by 15.55 per cent to USD 10.8 billion in August, according to the commerce ministry data. Cumulatively, in the April-August period this fiscal, exports to the neighbouring country dipped by 8.3...
Government Has Implemented Several Farmer-Friendly Policies: Amit Shah
NEW DELHI: The government has implemented several farmer-friendly policies in its first 100 days of the third term with focus on improving agricultural productivity and exports, Cooperation Minister Amit Shah said on Tuesday. Addressing a press conference on the completion of 100 days of the Modi 3.0 regime, Shah...
Air India To Upgrade Its Legacy A320 Neo Aircraft By Mid-2025
NEW DELHI: Air India on Tuesday said it expects to complete the upgradation of its 27 legacy A320 neo aircraft by mid-2025, following which all its narrow body planes will have the three-class configuration of business, premium economy and economy seats. Under the USD 400 million refit programme that...
Gold Imports Surge Record High
NEW DELHI: Gold imports more than doubled in August to a record high of USD 10.06 billion, mainly on account of a drastic cut in customs duty and ongoing festive demand, according to the Commerce Ministry data. Gold imports stood at USD 4.93 billion in August 2023. On record...
Rate Cut Hinges On Inflation Trajectory: RBI Governor
MUMBAI: The benchmark interest rate in the country will hinge on the future trajectory of inflation, Reserve Bank of India Governor Shaktikanta Das has said, emphasising that month-on-month inflation momentum — whether it’s building up or moderating — will be key to the central bank’s decision-making process. “It is...
Banks, FIs To Invest Rs 32.5 Trillion In Renewable Energy By 2030: Centre
GANDHINAGAR: Leading renewable energy (RE) project developers, manufacturing companies, banks, and financial institutions committed close to $386 billion or around Rs 32.45 trillion to the development of RE projects by 2030. This commitment was made at the inaugural ceremony of the 4th RE-Invest Summit hosted by the Ministry of...
Government Drawing Up Flexi Work Plan For Women
NEW DELHI: The government is planning to create a new framework for flexible working arrangements for women to lift their participation in the labour force by addressing some of the challenges faced and offering social security benefits to those in the unorganised sector. A task force under labour secretary...
Foreign Banks Urge RBI To Relax Norms Until Standoff With ESMA Gets Resolved
MUMBAI: Foreign banks caught in the middle of a regulatory disagreement between European authorities and the Reserve Bank of India have sought clarity from the domestic central bank on certain norms that pose hurdles to a potential alternative model that would allow the overseas lenders to carry on trading...
Revision Of Retail Inflation Index To Rely On 2022-23 Inputs
NEW DELHI: The government has completed the Household Consumption Expenditure Survey (HCES) exercise for 2023-24, and preliminary analysis shows that its results are largely similar to the one of 2022-23, a senior official told FE. So, the 2022-23 survey results are most likely to be used for formulating the...
RBI Plans To Revamp Currency Management Infra To Cater To Future Cash Needs
NEW DELHI: The Reserve Bank plans to comprehensively revamp its currency management infrastructure over the next 4-5 years, mainly to ensure adequate storage and handling capacity to cater to the future cash needs of the growing economy. The creation of greenfield currency management centres, the introduction of warehouse automation,...
Semicon 2.0 Scheme To Cover Large Design Firms Too, Raise Subsidy
NEW DELHI: The semiconductor incentive scheme 2.0, which the government is expected to announce in the next three-four months, is likely to provide subsidy to even large firms that are into chip designing. Not only this, the subsidy amount is also likely to be raised from the current cap....
