Business
Centre To Infuse Capital Into RINL, Restructure Loans
NEW DELHI: With privatisation of Rashtriya Ispat Nigam Ltd (RINL) put on the back burner, the Centre is working on a package for the steel maker that would involve fresh equity infusion, restructuring of bank loans, and setting operational goals for the top management, sources told FE. The privatisation...
India Cannot Risk Another Bout Of Inflation: RBI Governor
MUMBAI: India cannot risk another surge in inflation, and the best approach would be to wait for clearer evidence of inflation aligning durably with the target, Reserve Bank of India governor Shaktikanta Das said in the minutes of the monetary policy meeting released on Wednesday. He said that uncertainties...
Banks Load Up On Short-Term Government Bonds Ahead Of New LCR Norms
MUMBAI: With the Reserve Bank of India (RBI) planning to implement draft guidelines pertaining to the liquidity coverage ratio (LCR) from April, banks have started shuffling their investment portfolios among different investment categories. Keeping draft LCR guidelines in mind, banks are planning to expand their availability for sale (AFS)...
India Remains World’s Largest Growing Economy: IMF
WASHINGTON: India remains the largest growing economy in the world, a senior official from the International Monetary Fund said, observing that the country’s macroeconomic fundamentals are good. “India is said to remain the largest growing economy in the world. We project growth at seven per cent in FY24-25, supported...
States Should Regulate Industrial Alcohol, Not Centre: SC
NEW DELHI: In an 8:1 majority ruling, the Supreme Court on Wednesday overturned a seven-judge bench verdict and held that States have regulatory power over production, manufacture and supply of industrial alcohol. In 1997, the seven-judge bench ruled that the Centre had the regulatory power over the production of...
Indian Entertainment Industry Lost Rs 22,400 Crore To Piracy In 2023
NEW DELHI: The Indian entertainment industry suffered a staggering loss of Rs 22,400 crore in 2023 due to piracy, according to a report released on Wednesday, that advocated for stronger regulations and collaborative efforts to effectively mitigate piracy risks. According to “The Rob Report” by EY and the Internet...
AIIMS Delhi Hosts Workshop To Empower Medicos With AI Skills
NEW DELHI: AIIMS New Delhi on Wednesday hosted an intensive workshop on emerging technologies, specifically focusing on Artificial Intelligence (AI). With AI projected to revolutionize the healthcare sector in India, the workshop aimed to equip medicos with the necessary skills and knowledge to leverage AI’s transformative power. AIIMS Delhi...
IMF: The Fight Against High Inflation Is ‘Almost Won’
WASHINGTON: The global war against inflation has largely been won – and at surprisingly little cost to economic growth, the International Monetary Fund declared Tuesday. In its latest assessment of the global economy, the IMF predicted that worldwide inflation will cool from 6.7% last year to 5.8% this year...
Centre Expands ‘Bharat’ Brand To Include Chana Whole And Masur Dal
NEW DELHI: The Centre on Wednesday expanded its subsidised pulses programme, adding chana whole and masur dal under the ‘Bharat’ brand in a bid to check rising prices. Food and Consumer Affairs Minister Prahlad Joshi, who launched Phase II of the initiative, said chana whole will be retailed at...
Work On 10 More Nuclear Reactors Underway In Country, Parliamentary Panel Told
New Delhi: At least 10 nuclear reactors are being installed in the country while two reactors in Gujarat’s Kakrapar have started generating power commercially, the Parliamentary Standing Committee on Science and Technology was informed on Monday. According to sources, the new nuclear reactors coming up in states like Gujarat,...
Rs 4 Trillion Transmission Infra Required To Meet 2027 Power Demand: CEA
NEW DELHI: To meet an expected power demand of 277 gigawatt (Gw) by 2027, India will require an investment of Rs 4.25 trillion in power transmission infrastructure, according to the latest National Electricity Plan (NEP) on transmission released by the Central Electricity Authority. The Central Electricity Authority is the...
Centre Drops Privatisation Plan Of Visakhapatnam Steel Plant, To Focus On Revival Of Its Operations
NEW DELHI: The Central government has dropped plans to privatise the Rashtriya Ispat Nigam Limited (RINL), the corporate entity of the Visakhapatnam Steel Plant (VSP), sources told Business Today on Tuesday. RINL, a part of the Ministry of Steel, manages a 7.5 million tonnes facility in Visakhapatnam, Andhra Pradesh,...
HMEL Takes Home Two Prestigious Wins At Asian Oil & Gas Awards 2024
HPCL-Mittal Energy Limited (HMEL) has once again demonstrated its commitment to safety and innovation, winning two prestigious accolades at the Asian Oil & Gas Awards 2024. The company was honoured with the Health and Safety Initiative of the Year – India and the Innovative Technology Initiative of the Year...
We Have A Clear Vision And Unique Approach For 4G/5G Rollout, Says BSNL CMD
NEW DELHI: Bharat Sanchar Nigam Limited (BSNL) has launched a new logo and seven new services. The State-owned company is also looking to monetise its land assets and has identified some of the land as part of blueprint to convert them into ‘mini data centres’. In an interview with...
No Recharge For MTNL; To Be Shut Down After Rs 32,000-Crore Dues Cleared
NEW DELHI: The government will no longer infuse any fresh capital into ailing Mahanagar Telephone Nigam (MTNL), but may not initiate its closure right away, as this would be done only after the company clears its liabilities of around Rs 32,000 crore, according to official sources. To generate funds...
Come FY26, States To Be Ranked On Labour Welfare, Productivity
NEW DELHI: States in India would now be ranked on an annual basis on their labour-friendliness too, not just on how successful they are on creating conducive atmosphere for businesses to grow, and various social parameters. The Union labour ministry is likely to introduce a “Labour Welfare and Employment...
IMF Retains India’s GDP Growth Forecast At 7% For FY25, 6.5% For FY26
NEW DELHI: The International Monetary Fund (IMF) on Tuesday kept its growth forecasts for India unchanged at 7 per cent and 6.5 per cent for FY25 and FY26, respectively. It held that pent up demand accumulated during the pandemic has been exhausted as the economy “reconnects” with its potential...
RBI Action On 4 NBFCs: Microfinance SRO Makes A Pitch For 4% Cap On RoA
MUMBAI: Following a regulatory crackdown on four non-banking financial companies (NBFCs), including two microfinance institutions, for charging “usurious” interest rates, a self-regulatory organisation (SRO) has asked its members to limit their return on assets (RoA) to 4 per cent. Sa-Dhan, the Reserve Bank of India (RBI)-appointed SRO overseeing microfinance...
