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NEW DELHI: The Appellate Tribunal for Electricity (APTEL) has ruled that Indian Railways is not a deemed distribution licensee and is liable to pay cross subsidy surcharge to Discoms for the power it procures. The order, pronounced on Monday, was to settle the dispute between Indian Railways and Discoms...
MUMBAI: The government is planning a mega global investment conference this year that promises to bring together the who’s who of the global investment world. The summit hopes to draw in the top 100 institutional investors and leaders from the top 100 Fortune 500 companies in a bid to...
HYDERABAD: India needs to grow at seven to eight per cent annually in order to become a developed nation with USD 13000 per capita income by 2047, former Reserve Bank Governor C Rangarajan said on Tuesday. Asserting that innovation cannot be a single solution to reduce inequalities or poverty,...
NEW DELHI: Urban India witnessed remarkable progress in financial readiness, with 3 out of 4 urban Indians now owning life insurance products, according to a report. The Protection Index is at an all-time high of 45 in India Protection Quotient (IPQ) 6.0, up from 43 in IPQ 5.0, reflecting...
NEW DELHI: Annual revenue growth of leading auto component manufacturing companies will come down to 5-7 per cent in the next fiscal due to moderation in domestic volumes and a drop in exports, rating firm Icra said on Tuesday. According to Icra estimates, its sample of 45 auto ancillaries,...
NEW DELHI: India-Canada trade in goods was $8.2 billion in the first 10 months of 2023 as against $6.9 billion in 2022, registering a growth of 18.84 per cent, according to the government data provided in Lok Sabha on Friday. India’s exports to Canada in 2023 (January to October)...
NEW DELHI: After repeated criticism of project planning in several infrastructure projects, the Ministry of Road Transport and Highways on Friday revised the framework of evaluating bids for project plans prepared by consultants for National Highway projects. Under the new framework, deficiencies in the work done by consultants will...
BETUL, GOA: Public sector refiner and fuel retailer Hindustan Petroleum Corporation (HPCL) plans to start commercial production of fuels at India’s newest refinery in Rajasthan’s Barmer city by January 2025. The refinery-cum-petrochemicals complex, being built at a cost of nearly Rs 73,000 crore, will have a crude processing capacity...
NEW DELHI: India continues to be a preferred destination for foreign direct investment (FDI) despite soaring global interest rates, commerce and industry minister Piyush Goyal said Friday. The hardening of interest rates had led to capital flowing back to developed nations. “That was a period where one would have...
MUMBAI: Ahead of Indian sovereign debt’s inclusion in global bond indices, some banks have on behalf of their overseas clients requested the Reserve Bank of India to permit international electronic trading platforms to execute trades in domestic government securities in order to ease market access. “Following JP Morgan’s decision...
NEW DELHI: Foreign Direct Investment (FDI) worth Rs 5077 crore has been reported by companies operating in the defence sector, the defence ministry said in Lok Sabha on Friday. The data was provided by Minister of State for Defence Ajay Bhatt while replying to a question. The defence industry...
NEW DELHI: The centre has released about Rs 15,948 crore under different schemes in the last five years till January 31 to various sugar mills to improve their liquidity for clearing cane price dues of farmers, Parliament was informed on Friday. Minister of State for Commerce and Industry Anupriya...
NEW DELHI: State-owned Energy Efficiency Services Ltd (EESL) has inked initial pacts worth Rs 500 crore with key state bodies and industry partners at the India Energy Week, to formulate a framework for longstanding collaboration in key areas of energy efficiency. Ladakh Autonomous Hill Development Council, Leh (LAHDC), and...
NEW DELHI: Tata Power on Friday posted a marginal increase of 2 per cent in its consolidated net profit at Rs 1,076 crore in December 2023 quarter. Its consolidated net profit was Rs 1,052 crore in the quarter ended on December 31, 2022, a company statement showed. Total revenues...
MUMBAI: Reserve Bank Deputy Governor M Rajeshwar Rao on Friday said it is uncharacteristic of non-bank lenders to seek bank licences when they are already enjoying some regulatory advantages. Addressing a conference on non-bank finance companies (NBFCs) organized by CII, Rao also hit out at certain microlenders for “misusing”...
India’s central bank today left its inflation forecast for this fiscal year unchanged at 5.4%, despite food price rise concerns, uncertainty around crude costs even amidst a recent slump and chances of domestic growth momentum creating demand pressure on inflation. The Reserve Bank of India left the inflation aim...
NEW DELHI: India is close to finalising a first-of-its-kind trade deal that could see a small group of European nations invest as much as $100 billion over 15 years in exchange for easier trade access to the world’s most populous nation, according to people with knowledge of the matter....
MUMBAI: Advent International, the US private equity firm behind some of the biggest leveraged buyouts and conglomerate carve-outs, including the €17.2-billion acquisition of Thyssenkrupp’s elevator business in 2020 along with co-investors and the €1.8 billion joint takeover of Royal Bank of Scotland’s payments business, Worldpay, believes India is among...