Business
Equity Mutual Funds Inflows Soar To Near Rs 4 Lakh Crore In 2024
NEW DELHI: Equity mutual funds witnessed a remarkable surge in inflows to nearly Rs 4 lakh crore in 2024, more than double the amount recorded in the preceding year, reflecting strong investor confidence and a continued shift towards long-term investing, particularly through Systematic Investment Plans (SIPs). Despite the strong...
IT Industry Bats For Deeptech Fund To Bolster Startup Ecosystem
NEW DELHI: India’s apex IT industry body Nasscom has batted for tweaks in safe harbour rules and widening the scope for utilisation of SEZ reinvestment reserves in its Budget wishlist, while advocating for creation of a central deeptech fund to bolster startup ecosystem in India. Creation of a grant...
Food Inflation May Drop To 6% In Near-Term, But Risks Remain: Analysts
NEW DELHI: An improvement in rabi sowing, favourable weather conditions, and above normal monsoon rains are expected to soften food inflation sharply from the current levels in the next three-to-four months, say analysts. But cereals and edible oils’ prices still remain a concern, and pose an upside risk to...
Liquidity Deficit Breaches Rs 3 Lakh-Crore Mark
MUMBAI: The liquidity shortage in the banking system has shot up to over Rs 3 lakh crore, levels that experts say are the highest in many years. The total amount of liquidity injected by the Reserve Bank of India (RBI) stood at Rs 3.15 lakh crore on January 23,...
Private Sector Activity Slows To 14-Month Low Of 57.9 In January: PMI Data
NEW DELHI: India’s private sector output grew at its slowest since November 2023 as the pace of new business intake softened in the services sector, which in turn offset the robust growth seen in the manufacturing sector during the month, according to the HSBC flash Purchasing Managers’ Index (PMI)...
India Must Step Up Trade Play With Fast-Growing Asia, Says Chairman, McKinsey Asia
DAVOS: India has a significant opportunity to deepen its engagement within Asia as the region is set to see an uptick in trade activities, Gautam Kumra, chairman, McKinsey Asia on Thursday while highlighting that 18 of the fastest-growing corridors and 13 of the largest trade corridors connect with Asia....
Reforms And Investments Will Put Nation On Fast Track To Viksit Goal
DAVOS: India is set for exponential growth in various sectors, but regulatory reforms and significant investments are essential to sustain this momentum and meet future needs, said industry leaders during a discussion on Viksit Bharat: The Road to 2047 at the World Economic Forum on Friday. Rajiv Memani, chairperson...
Government approves Rs 500 Crore capital infusion in IFCI
NEW DELHI: Domestic financial institution IFCI on Friday said the government has approved Rs 500 crore capital infusion in the company through the preferential issue of shares. The Department of Financial Services has conveyed sanction of the President of India to release funds of Rs 500 crore to IFCI...
AIMTC Urges Government To Address Challenges Faced By Transport Sector
NEW DELHI: All India Motor Transport Congress (AIMTC) national president Harish Sabharwal on Friday asked the government to address issues like exorbitant increase in toll tax rates and misuse of the e-challan system. The charge handover and oath taking ceremony of the newly elected office bearers of AIMTC was...
CBIC Notifies Rules For Entities To Get TIN
NEW DELHI: Entities that are not required to get a GST registration but are required to make a tax payment under the GST Act provision can now obtain a Temporary Identification Number (TIN). The Central Board of Indirect Taxes and Customs (CBIC) has notified an amendment to GST rules...
RBI Penalises J and K Bank, Bank Of India, Canara Bank
MUMBAI: The Reserve Bank on Friday said it has penalised Jammu and Kashmir Bank, Bank of India, and Canara Bank for deficiencies in regulatory compliance. Jammu and Kashmir Bank has been penalised Rs 3.31 crore for contravention of certain norms related to financial inclusion – access to banking Services...
Used-Car Sales In India To Cross One Crore Annual Mark By 2030: Report
NEW DELHI: The Indian used-car market is expected to cross 1 crore sales mark annually by 2030 with offtakes increasing across both urban and smaller towns, according to a report by CARS24. As per the ‘Gear of Growth: The 2024 Indian Used-Car Market Report’, Maharashtra, Uttar Pradesh and Delhi...
RBI Monetary Policy Committee Member Nagesh Kumar Advocates Two Inflation Rates
NEW DELHI: RBI Monetary Policy Committee member Nagesh Kumar has suggested that there should be two inflation rates – one including food prices and the other without food prices – so that relevant rates could be taken into account for policy making. Chief Economic Advisor V Anantha Nageswaran in...
EPFO Adds 14.63 Lakh Net Members In November
NEW DELHI: Retirement fund body EPFO has added 14.63 lakh net members in November 2024, a growth of 4.88 per cent over the same month last year, according to the latest payroll data. The growth in net member additions signifies increased employment opportunities and heightened awareness of employee benefits,...
Some Equity Research Firms Shutting Shops After SEBI’s New Guidelines On Research Analysts
NEW DELHI: Markets regulator SEBI’s new guidelines on research analysts (RAs) are forcing several equity research firms publicly announcing plans to shut down their shops due to heightened compliance and operational requirements. The Securities and Exchange Board of India (Sebi), on January 8, came out with guidelines for Research...
Hindustan Unilever Stock Declines Nearly 4 Per Cent After Earnings Disappoint Investors
NEW DELHI: Shares of Hindustan Unilever Ltd declined nearly 4 per cent in the morning trade on Thursday after the FMCG major’s December quarter earnings failed to cheer the investors. The scrip of the company fell 3.8 per cent to Rs 2,253.85 apiece on the NSE. On the BSE,...
Irregularities Found In One Rupee Crop Insurance Scheme For Farmers
MUMBAI: Maharashtra Agriculture Minister Manikrao Kokate has admitted irregularities in the implementation of the one rupee crop insurance scheme for farmers, noting places of worship were shown as agricultural lands to claim benefits. More than four lakh crop insurance applications, some filed even by those residing outside Maharashtra, have...
Govt Draft E-Commerce Norms Need Tweaks To Suit Varied Biz Models: Experts
BENGALURU: Even though the government’s draft guidelines for ecommerce (ecom) platforms, which mandate self-regulatory measures to protect consumers from fraudulent practices, are well-intentioned, they must be tailored to accommodate the diverse business models adopted by different ecom companies, according to industry executives and experts. The draft guidelines, titled “E-commerce...
