Business
SEBI Lays Groundwork For Ease Of Doing Business
MUMBAI: The Securities and Exchange Board of India (SEBI), in its first board meeting under new chairperson Tuhin Kanta Pandey, eased norms for foreign portfolio investors (FPIs), merchant banks and market infrastructure institutions (MIIs). At the same time, it also decided to set up a high-level committee (HLC) to...
IMF Asks Indian Banks To Adopt Global Norms For Credit Risk Management
MUMBAI: Indian banks need to strengthen credit risk management by adopting International Financial Reporting Standards (IFRS 9) and enhancing supervision of individual loans, collateral valuation, and connected borrower groups, the International Monetary Fund (IMF) said in its Financial System Stability Assessment (FSSA) report. The Reserve Bank of India (RBI)...
Softer Increase In Services Sector Activity Slows Flash PMI In March
NEW DELHI: Private sector output in India increased at a slower pace in March as compared to the previous month, amid a quicker expansion in manufacturing activity and a softer increase in services activity, according to the HSBC flash Purchasing Managers’ Index (PMI) survey released on Monday. “Manufacturing was...
Tariff Disturbances Stall Momentum In Engineering Exports
NEW DELHI: The US-induced upheaval in world trade through tariffs and counter tariffs has stalled the growth in India’s export of engineering products. The growth in these shipments, which remained in positive territory for nine months in a row bucking the stagnation in other sectors, fell 8.62% on year...
India Proposes To Remove 6 Per Cent Google Tax From April 1
NEW DELHI: India proposes to remove the 6% equalisation levy imposed on online advertisement services offered by companies such as Google and Meta — known widely as the Google tax — from April 1. The move is likely aimed at placating US President Donald Trump, who has threatened retaliatory...
Rupee Recovers Its 2025 Losses; Jumps 31 Paise To Close At 85.67 Against US Dollar
MUMBAI: Rising for the seventh straight session, the rupee appreciated 31 paise to close at 85.67 (provisional) against the US dollar on Monday, wiping off all its losses in 2025, supported by a positive trend in domestic equity markets and fresh foreign capital inflows. Besides, lower global crude price...
India, US To Focus On Increasing Market Access: MoS Finance
NEW DELHI: India and the US would focus on increasing market access, reducing tariff and non-tariff barriers, and enhancing supply chain integration, Minister of State for Finance Pankaj Chaudhary said on Monday. In a written reply in the Lok Sabha, Chaudhary said India continues to engage with the US...
Export duty removal on onion to aid farmers’
NEW DELHI: The government’s decision to withdraw 20 per cent customs duty on onion exports effective April 1 will boost farmers’ income, Agriculture Minister Shivraj Singh Chouhan saidon Monday. “There will be no duty on onion export so that onion grown by our farmers with hard work reaches the...
CRA To Scrutinise Claims By Investment Service Providers
NEW DELHI: Markets regulator Sebi has said that risk-return metrics of services offered by investment advisers, research analysts and algo trading providers will be scrutinised by a credit rating agency, a move aimed at checking claims of high returns. Under the new norms, the credit rating agency (CRA) will...
India’s Tech Startups Clinch $2.5 Billion Funding In Q1 2025
NEW DELHI: India’s tech startups raised $2.5 billion in the first quarter of 2025, marking a 13.64 per cent increase over the previous quarter and an 8.7 per cent rise from the year-ago period, a feat that secured its spot as the third most-funded country globally after the US...
US Tariffs Looming, India Looks At Easing Non-Trade Barriers, Relaxing Chinese FDI
MUMBAI/NEW DELHI: With some dialling down of tensions between India and China along the border, policy makers are more open to upgrading bilateral economic relationships now. It is being viewed as an opportune time, particularly when US President Donald Trump is pushing India to the corner on reducing tariffs...
GST On Insurance May Be Slashed To 5 Per Cent
NEW DELHI: The Goods and Services Tax (GST) Council may settle for a reduction in the tax rates on health & life insurance, instead of a full waiver. The GST, which now applies at 18% on gross premiums, is likely to be reduced to 5%, while retaining the facility...
MSME Loan Threshold Under Digital Footprint Model Hiked To Rs 10 Crore
NEW DELHI: The government has urged public sector banks (PSBs) to extend loans up to Rs 10 crore through the newly launched digital footprint-based credit assessment model from Rs 25 lakh to Rs 5 crore now, to accelerate seamless credit flow to the micro, small and medium enterprises (MSMEs)....
State-Run Banks Bearing Good Deal Of Credit Card Bad Debt
MUMBAI: State-run banks are grappling with elevated levels of bad loans in their credit card portfolios, particularly from cards issued between September 2021 and October 2023, when they aggressively expanded customer base amid intense competition from fintech players. Public sector banks (PSBs) had a credit card bad loan ratio...
Strong Trade Momentum For India In December Quarter: UNCTAD
NEW DELHI: India has seen strong goods and services trade momentum in the Dec quarter, a report by UN body Unctad has said but cautioned that global trade could be hit by the policy shifts in the US and trade and geopolitical tensions.Besides, it has pointed to high duties...
Jaishankar Stresses Need For Diverse Energy Relationships
MUMBAI: External Affairs Minister S Jaishankar has said that India, as the world’s fifth-largest economy, must necessarily develop a broad and diverse set of energy relationships. After decades of hearing the virtues of globalisation, the world today is grappling with the reality of industrial policies, export controls and tariff...
India Imposes Anti-Dumping Duty On Five Chinese Products
NEW DELHI: India has imposed anti-dumping duty on five Chinese goods, including vacuum flasks and aluminium foil, during the month so far to guard domestic players from cheap imports from the neighbouring country. These duties were imposed as these products — Soft Ferrite Cores, certain thickness of vacuum insulated...
Public Sector Banks’ Dividend Rises 33 Per Cent To Rs 27,830 Crore In Fiscal Year 24
NEW DELHI: Dividend payout by public sector banks (PSBs) have risen by 33 per cent to Rs 27,830 Crore in FY24, indicating significant improvement in financial health of these lenders. PSBs declared a dividend of Rs 27,830 Crore to shareholders in 2023-24 as against Rs 20,964 Crore in the...
