Business
Indian Steel Sector To See $2.70 Billion Investment In Digital Technology By 2030
KOLKATA: Indian steel industries’ investment in digital and process technology is forecast to touch $2.70 billion by 2030, according to a report of industry body, Federation of Indian Chambers of Commerce and Industry (FICCI) and consultant Deloitte on Tuesday, August 27. The report, titled “Automation, Digitalisation and Technology Integration...
RINL And IOCL Sign 5-Year MoU For Supply Of Hydraulic And Lubricating Oils From 2024 To 2029
NEW DELHI: At a simple program held at Main conference hall in administrative building of RINL, the corporate entity of Visakhapatnam Steel Plant, today, RINL signed a MoU(memorandum of understanding) with M/s. IOCL for the supply of hydraulic and lubricating oils & greases for a period of 5 years...
India Inks Another Deal For 73,000 Assault Rifles From The US
NEW DELHI: India has now inked another contract for the import of an additional 73,000 SiG Sauer assault rifles from the US, which will add to the 72,400 such guns bought earlier for frontline Army troops, amid the continuing military confrontation with China in eastern Ladakh. “The SiG-716 `Patrol’...
TRAI Asks Top Regulators To Apply Whitelist Norms By September 1
NEW DELHI: To tackle the problem of spam messages and calls, the Telecom Regulatory Authority of India (TRAI) on Tuesday asked the Reserve Bank of India (RBI), various sector regulators, and government agencies to implement the mandatory whitelisting or registration of internet links, Android application packages (APKs) and call...
Oil And Gas PSUs Carry Out A Third Of Annual Capex In April-July
NEW DELHI: Public-sector oil and gas companies have spent over Rs 38,419 crore as capex in the first four months of the current financial year 2024-25, nearly 32.4% of the annual capex target of Rs 1.2 lakh crore, provisional data from the Petroleum Planning and Analysis Cell showed. The...
SEBI Rights Issue Plan May Hit Merchant Bankers’ Revenue
MUMBAI: The Securities and Exchange Board of India (Sebi)’s proposal to overhaul the rights issue process to boost its appeal as a fundraising route is likely to pose a serious threat to revenue streams of merchant bankers. One of the key changes suggested by the regulator is the elimination...
India To Sign High Seas Treaty In September, Joining Global Effort To Protect Ocean Biodiversity
NEW DELHI: India will sign the Biodiversity Beyond National Jurisdiction Agreement, shortly known as High Seas Alliance, next month, Cdr P K Srivastava, Scientist, Ministry of Earth Sciences, said today. The Cabinet of Ministers cleared India to sign the agreement last month, and the actual signing will take place...
Centre Decreases Public Grievances Redressal Time From 30 To 21 Days
NEW DELHI: The Centre has reduced redressal time of public grievances, raised on a dedicated portal, to 21 days, from the existing 30 days. In an order mentioning revised guidelines, it has suggested appointment of dedicated officers to handle complaints besides emphasising “whole of the government approach. “This means...
GDP Growth Rate Likely To Decline To 7.1% In Q1, Say SBI Economists
MUMBAI: Economists at the country’s largest lender SBI on Monday joined other watchers forecasting a slip in the economic growth and estimated India’s real GDP growth to come at 7.1 per cent for the June quarter. The economists said the growth in gross value added (GVA) will fall below...
RBI To Launch Unified Lending Interface To Transform Lending Space: Governor
MUMBAI: The Reserve Bank of India (RBI) will launch the Unified Lending Interface (ULI) nationwide in due course, aiming to transform India’s lending sector, similar to how the Unified Payments Interface (UPI) revolutionised the payments ecosystem, Governor Shaktikanta Das said on Monday. The new platform will provide lenders consent-based...
India, Singapore Pledge To Cement Ties In ’Emerging Areas’
India and Singapore on Monday pledged to reinforce their ties in emerging areas such as digital connectivity, fintech, green economy, green hydrogen, skill development and food security. In the second meeting of their ministerial roundtable held in Singapore on Monday, sustainability, healthcare, connectivity and advanced manufacturing were discussed, according...
Natural Gas Imports Up 7% In April-July On High Demand
NEW DELHI: India’s import bill for natural gas surged by 7% to $4.6 billion during the first four months of the current fiscal year, compared with $4.3 billion in the same period a year ago, due to a rise in consumption particularly by the city gas distribution (CGD) companies...
Sensex Rallies 600 Points
MUMBAI: Stock market benchmark indices Sensex and Nifty surged nearly 1 per cent on Monday, propelled by intense buying in metal, IT and consumer durable stocks amid hopes that the US Federal Reserve will start cutting interest rates soon. Renewed Foreign fund inflows and buying in frontline stocks HDFC...
India Adds Record 15 GW Solar Capacity In January-June: Report
NEW DELHI: India has registered record solar installations of about 15 GW during the first half of 2024 as “developers raced” to complete delayed projects, a report by Mercom Capital said. The country added 3.89 GW of solar capacity during January-June 2023, the US-based research firm said in its...
RBI Constantly Working On Policies, Platforms To Make India’s Financial System Strong
BENGALURU: Reserve Bank Governor Shaktikanta Das on Monday said the central bank is constantly working on policies, systems, and platforms to make the country’s financial sector strong, nimble and customer centric. Addressing the RBI@90 Global Conference on ‘Digital Public Infrastructure and Emerging Technologies’, Das recalled various initiatives being taken...
Over 23 Lakh Government Employees Under NPS Get Option To Choose Unified Pension Scheme
NEW DELHI: The just-announced Unified Pension Scheme for central government employees will be available only for those who are currently subscribers of the New Pension Scheme (NPS), including retirees. The new scheme guarantees employees 50 per cent of their average basic pay over the last 12 months before retirement...
GST Taxpayers Without Valid Bank A/c To Be Barred From Filing GSTR-1 From September 1
NEW DELHI: GST taxpayers who do not furnish bank account details to GST authorities will be barred from filing outward supply return GSTR-1 from September 1, GST Network (GSTN) has said in an advisory. As per GST Rule 10A, a taxpayer is required to furnish details of a valid...
RBI Flags Breach Of Regulations By Some NBFC-P2P Lending Platforms
The Reserve Bank of India (RBI) on Friday flagged regulatory violations by some non-banking financial companies (NBFCs) peer-to-peer (P2P) lending platforms, prompting it to revise the guidelines that include prohibiting credit enhancements and capping aggregate exposure at Rs 50 lakh. These violations included promoting P2P lending as investment products,...
