Business
Sale Of IDBI Bank May Carry Over To FY26
NEW DELHI: The financial bids for the strategic sale of IDBI Bank will likely be received by March but the conclusion of the transaction may extend to the next financial year, sources said. In December, the Reserve Bank of India (RBI) issued the ‘fit and proper’ certificate to the...
Food Inflation Declines To 8.34 Per Cent In December
NEW DELHI: Retail food inflation eased for the second consecutive month at 8.34% in December compared to 10.87% in October as prices of vegetables declined over the last few weeks with winter harvest arriving in the market. The consumer food price index (CFPI) declined by 1.47% in December compared...
Government Set To Build Steps To Help Economy Climb
NEW DELHI: The budget is likely to unveil several measures to support demand and prop up growth, recognising that the slowing economy needs help. The measures being considered include tax relief for the middle class, tariff measures to shield the industry from the adverse external environment, and initiatives to...
India Ranks Third Globally In Fintech Funding Despite 33 Per Cent Lower Infusion In 2024
NEW DELHI: India ranked third globally in terms of funding received in the fintech segment despite a decline of 33 per cent on a year-over-year basis to USD 1.9 billion in 2024, market intelligence firm Tracxn said in a report on Monday. The sector witnessed a decline in funding,...
Infra Development Imperative To Achieve Viksit Bahrat Goal: Gadkari
SONAMARG: Union Minister Nitin Gadkari on Monday said infrastructure development is imperative to achieve the goal of Viksit Bahrat, as the economy depends on good transport and communication facilities. “The Prime Minister has given us a mission of developed and prosperous India. If we have to achieve a Viksit...
Growing Complexity Widening Cyber Inequity: World Economic Forum Report
NEW DELHI: Growing complexity in the cyber landscape is further exacerbating cyber inequity, deepening the divide between developed and emerging economies, and widening the gap between large and small organisations, the World Economic Forum said on Monday. In its Global Cybersecurity Outlook 2025, the WEF said nearly 54 per...
Rupee Sinks To Record Low, Settles 58 Paise Down At 86.62 Against US Dollar
MUMBAI: The rupee logged its steepest single-day fall in nearly two years and ended the session 58 paise down at its historic low of 86.62 (provisional) against the US dollar on Monday, weighed down by a stronger American currency and surging crude oil prices. At the interbank foreign exchange,...
Mutual Funds Collect Rs 1.18 Lakh Crore Via NFO In 2024; Thematic Funds Dominates Space
NEW DELHI: Asset management companies launched 239 new fund offerings (NFOs) mobilising Rs 1.18 lakh crore in 2024, with sectoral or thematic equity funds emerging as the top choice of investors, according to a report by Germinate Investor Services Research. This was higher than 212 NFOs collecting Rs 63,854...
Insurance Reforms To See 100 Per Cent FDI Ceiling, Composite Licence
NEW DELHI: The much-awaited Insurance (Amendment) Bill to allow 100% foreign direct investment (FDI) in the sector may see the light of the day in the Budget session of Parliament. The proposed major amendment follows the tweaking of the Insurance Act in 2021, when the FDI limit was raised...
India’s Inflation Likely To Stabilise Around 4.3-4.7 Per Cent In FY26: Report
NEW DELHI: The central government has given the RBI the target to maintain inflation between 2 to 6 per cent band. It is called the tolerance band, while the median target is 4 per cent. Inflation in the country is likely to stabilize at an average of 4.3-4.7 per...
Robust Rural Growth To Continue For FMCG Firms In Q3
MUMBAI: With the high inflation still straining urban wallets, fast-moving consumer goods (FMCG) companies see faster sales volume growth continuing in the rural areas versus the urban regions in the December quarter. Q3FY25 will be the fourth straight quarter of rural volume growth outpacing urban volume growth, NielsenIQ data...
VCs Betting On NBFCs For Stable Investments
BENGALURU: Venture capital (VC) investments in the non-banking finance companies (NBFCs) surged in 2024, marking a notable pivot towards safer, proven business models with clear exit opportunities. Amid a tepid growth in the overall VC funding, NBFCs raised approximately $1.2 billion across 50 equity rounds, a jump of 70%...
Budget 2025: Plan Afoot To Decarbonise Power, Steel
NEW DELHI: India is working on a national carbon capture utilisation and storage (CCUS) mission to support decarbonising hard-to-abate sectors such as thermal power, iron and steel, and cement plants, people familiar with the matter told ET. The contours of the mission are being firmed up and an announcement...
Government Partially Restores Gas Supply To IGL, Adani-Total
NEW DELHI: The government has increased cheaper gas supply to city gas retailers IGL, Adani-Total, and Mahanagar Gas, restoring a major part of the allocation that was cut in 2024, according to regulatory filings by the companies. The government, in October and November last year, had cut supplies of...
FinMin To Meet Heads Of Banks To Review Financial Inclusion Schemes
NEW DELHI: Finance Ministry has called a meeting of heads of Public Sector Banks (PSBs) on Wednesday to review progress of various financial inclusion schemes, including Jan Suraksha and Mudra Yojana. The meeting, which would see participation from representatives of private sector banks, is scheduled to be chaired by...
CII Suggests 10-Point Agenda On Ease Of Biz Reforms Ahead Of Budget
NEW DELHI: Ahead of the upcoming Budget, industry body CII on Sunday suggested a 10-point agenda to drive ease of doing business reforms, aimed at reducing compliance burden, simplifying regulatory frameworks, and improving transparency. Among the “urgent policy interventions”, the industry body has recommended that all regulatory approvals —...
India’s Coal Import Rises Two Per Cent To 182 MT In April-November Period
NEW DELHI: India’s coal import rose by two per cent to 182.02 million tonnes (MT) in the April-November period of the current fiscal year. The country’s coal import was at 178.17 MT in the year-ago period, according to data compiled by business-to-business e-commerce company mjunction services ltd. However, the...
Amnesty Scheme For Customs May Be Announced In Budget 2025-26 To Reduce Litigation: Experts
NEW DELHI: In a bid to reduce litigation, Finance Minister Nirmala Sitharaman in the upcoming Budget may announce an Amnesty Scheme for customs to foster ease of doing business. “The main asks of the industry would certainly be aligned with the objectives of the government and one objective of...
