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NEW DELHI: Hybrid mutual fund schemes have been gaining popularity among investors, attracting Rs 20,634 crore in January, marking a 37 per cent surge from the previous month, largely due to their appeal as an alternative investment option post-change in taxation laws for debt funds. With this, total inflow...
NEW DELHI: The government has pulled up the management of state-run telecom companies Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) for the slow pace of their land monetisation process, especially in the metro cities. They have released only ₹550 crore from land monetisation in the past few...
MUMBAI: The Reserve Bank of India (RBI) on Monday extended the deadline for restrictions on deposit and credit transactions of Paytm Payments Bank Limited (PPBL) to March 15, stating that customers and merchants might require “a little more time to make alternative arrangements”. The earlier deadline was February 29....
MUMBAI: With the Indian information-technology (IT) industry’s growth rate falling to a low single digit, the ambition of becoming a $350 billion industry by 2026 seems a difficult task. The sector is expected to touch $253.9 billion in FY24, growing at 3.8 per cent year-on-year. Growth has fallen from...
NEW DELHI: The government has increased the authorised capital of the Food Corporation of India (FCI) by 110% to Rs 21,000 crore from Rs 10,000 crore. The move is in sync with the policy of minimising borrowings by the corporation, through which close to 70% of the food subsidy...
NEW DELHI: India is eyeing designating rare earth minerals, electronics and pharmaceuticals as critical sectors to secure them against any future supply chain disruption. The move comes ahead of the Supply Chain Resilience Agreement of the 14-member Indo-Pacific Economic Framework (IPEF) entering into force next week. As per the...
NEW DELHI: A staggering investment of Rs 30 lakh crores is required over the period spanning next six years from 2024 to achieve India’s Nationally Determined Contributions (NDC) goals by 2030. This was stated by Pradip Kumar Das, Chairman and Managing Director (CMD) of the Indian Renewable Energy Development...
NEW DELHI: Ease of transactions through the digital mode, rising disposable incomes and increased financial literacy are prompting young Indians to venture into mutual funds’ Systematic Investment Plan (SIP), a top official of WhiteOak Capital Mutual Fund said. WhiteOak Capital Mutual Fund, which has 3.33 lakh investors and manages...
MUMBAI: State Bank of India chairman Dinesh Khara on Friday said the nation’s largest lender is in talks with the Reserve Bank to reduce the cash reserve ratio requirement on green deposits. State Bank of India (SBI) last month announced a green deposit scheme, a first in the domestic...
NEW DELHI: With the proposed merger of its Indian arm with Zee terminated, Sony will seek various options, including finding another opportunity to replace the plan and organic growth opportunities in India, which has great potential in the long term, according to a top company official. In an earnings...
NEW DELHI: Indian Highways Management Company Ltd (IHMCL), toll collecting arm of state-owned NHAI, has advised highway users to buy FASTags from 32 authorised banks sans Paytm Payments Bank for hassle-free travel. In a post on X, IHMCL said for hassle-free travel, buy your FASTag from 32 authorised banks....
NEW DELHI: The Supreme Court on Thursday struck down the electoral bonds scheme, calling it “unconstitutional” and “arbitrary”. It ordered State Bank of India (SBI), the issuing bank, to immediately cease issuing electoral bonds, share the names of the purchasers, value of the bonds and their recipients with the...
Corporate India clocked double-digit growth in aggregate net profit for the third quarter helped by stable input costs and lower interest outgo in case of manufacturing companies while revenue growth remained below 10% for the third straight quarter. For the sample of 3,381 companies, revenue grew 8.2% Y-o-Y in...
MUMBAI: Markets regulator Sebi on Thursday proposed promoting collective oversight of PMS distributors by making registration with the Association of Portfolio Managers in India (APMI) mandatory for them and facilitating ease of digital onboarding process for portfolio managers’ clients. The proposals are aimed at promoting ease of doing business...
NEW DELHI: State-owned NMDC has registered a 15 per cent rise in its iron ore production to 12.22 Million Tonne (MT) in October-December 2023, a company statement said. The miner had produced 10.66 MT iron ore in the third quarter of the preceding financial year, according to the statement...
NEW DELHI: State-owned NBCC Ltd on Thursday said it has bagged a Rs 262 crore project to redevelop Ministry of External Affairs Housing in the national capital. In a statement, NBCC said the “Bhoomi Poojan Ceremony” for the redevelopment of Ministry of External Affairs Housing at KG Marg took...
MUMBAI: Reserve Bank Governor Shaktikanta Das on Thursday said recurring food price shocks and renewed flash points on the geo-political front pose challenges in tackling inflation. “We remain vigilant to navigate through the last mile of disinflation as it is often the most difficult part of the journey. We...
NEW DELHI: India’s exports rose to a three-month high of 3.12 per cent to USD 36.92 billion in January despite global uncertainties including the Red Sea crisis, while the trade deficit narrowed to a nine-month low of USD 17.49 billion, the government data released on Thursday showed. After recording...