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MUMBAI: India’s central bank leadership is scheduled to meet the top management of asset reconstruction companies (ARC) next week to discuss corporate governance and stressed-asset resolutions amid concerns of potential back-door entry by defaulting promoters, people with knowledge of the development told ET. The Reserve Bank of India (RBI)...
NEW DELHI: India’s industrial growth eased to 4.9% in March compared with 5.6% in the preceding month, data released on Friday showed, ending the FY24 with a 5.8% growth. The Index of Industrial Production (IIP) had grown 5.2% in FY23. Manufacturing output expanded at a five-month high of 5.2%...
MUMBAI: While the past year was a good one for the cement industry with capacity addition and utilisation touching new highs, demand is expected to moderate in the current financial year. One reason for this is the unfavourable base effect with the industry having done well in recent years,...
NEW DELHI: State-owned Bharat Petroleum has set a capital expenditure target of Rs 1.7 trillion over a period of five years with majority of it allocated to the refinery and petchem segment, the company’s chairman and managing director G Krishnakumar said on Friday. Of the total capex, the company...
BEIJING: The Chinese market is open to all countries, including India, China’s new envoy to India, Xu Feihong, has said, maintaining that Beijing understands New Delhi’s concerns over its burgeoning trade deficit and is willing to address this issue by facilitating more Indian companies to tap the Chinese market....
FARIDABAD: Majority of personal computer and server makers selected under the IT hardware production-linked incentive scheme are expected to start production this year, a senior government official said on Friday. “… About 17 out of 27 PLI companies will start production this year. Around 6-7 of them started production...
KOLKATA: The Indian Tea Association (ITA) on Friday reiterated its plea for financial assistance from the Centre to support the struggling Darjeeling tea industry. According to the ITA, the situation in Darjeeling is critical due to decreasing yields and plummeting prices. Without a financial relief package, the survival of...
MUMBAI: After three consecutive weeks of drop, India’s forex reserves increased by USD 3.668 billion to USD 641.59 billion for the week ended May 3, the RBI said on Friday. The overall kitty dropped USD 2.412 billion to USD 637.922 billion for the previous week ended April 26. For...
NEW DELHI: Gold and silver prices rebounded sharply on Friday after falling for two straight sessions, with the yellow metal jumping Rs 950 to cross the Rs 73,000-mark in the national capital amid a bullish global trend and strong domestic demand on the Akshaya Tritiya festival. According to HDFC...
MUMBAI: The rupee stayed range-bound and settled 1 paisa lower at 83.49 (provisional) against the US dollar on Friday, as the support from positive domestic equities was negated by elevated crude oil prices. Forex traders said significant foreign fund outflows dented investors’ sentiments. At the interbank foreign exchange market,...