RBI directs Bank of Baroda to halt adding new customers via app

Oct 11, 2023, at 06:35 am

Mumbai: The Reserve Bank of India (RBI), on Tuesday, directed state-owned lender Bank of Baroda to cease the onboarding of new customers through the BoB World, the bank's digital banking application.

Bibhu Prasad Mahapatra assumes charge as Executive Director on the Board of PNB

Oct 11, 2023, at 06:15 am

New Delhi: Bibhu Prasad Mahapatra has assumed the charge as the Executive Director on the Board of Punjab National Bank, the Ministry of Finance said on Tuesday.

IDFC First Bank planning to raise Rs 3,000 crore in debt capital through Tier-ii bonds

Oct 11, 2023, at 06:12 am

Mumbai: After its recent equity capital infusion of Rs 3,000 crore, IDFC First Bank is now gearing up to raise the same amount through debt capital, specifically Tier-II bonds, Business Standard reported.

India must aim for 8% growth rate to surpass China: Barclays

Oct 11, 2023, at 05:45 am

New Delhi: For India to surpass China and emerge as the leading contributor to global growth, it would have to aim for an 8 percent growth rate, a Barclays report said.

Mukesh Ambani takes over Gautam Adani to be the richest Indian: Report

Oct 11, 2023, at 05:39 am

Mumbai: Reliance Industries chairman Mukesh Ambani has surpassed Gautam Adani of Adani Group to claim the top spot as the wealthiest Indian in the 360 ONE Wealth Hurun India Rich List 2023.

Direct Tax collection in Oct FY24 crosses Rs 11.07 lakh cr

Oct 11, 2023, at 02:36 am

New Delhi: The gross direct tax collections in October, so far, surpassed Rs 11 lakh crore, reaching Rs 11.07 lakh crore, the Finance Ministry said in a statement on October 10.

ED arrests 4 Vivo execs including 1 Chinese national

Oct 11, 2023, at 02:12 am

New Delhi: The Enforcement Directorate (ED) on Tuesday arrested four executives from the Chinese smartphone manufacturer Vivo, including a Chinese national, reported media.

Indian Market: Sensex jumps 566.97 pts

Oct 10, 2023, at 11:05 pm

The BSE Sensex on Tuesday registered a solid gains of 566.97 pts to close at 66,079.36 on the strength of Realty, Metal, Telecommunications and BSE services amid positive global cues.

JSW Group likely to seal deal with MG Motors India for EV manufacturing in India: Report

Oct 07, 2023, at 08:09 am

Mumbai: JSW Group is actively negotiating to acquire a stake in MG Motor India, aiming to introduce an electric vehicle tailored specifically for the Indian market.

ChatGPT developer OpenAI planning to make its own AI chips: Report

Oct 07, 2023, at 07:50 am

San Francisco: ChatGPT’s developer OpenAI is considering the development of its own artificial intelligence chips and has even explored a potential acquisition target, Reuters reported, citing sources.

ADIA to invest Rs 4,966.80 cr in Mukesh Ambani's Reliance Retail Ventures

Oct 07, 2023, at 07:34 am

Mumbai: Abu Dhabi Investment Authority (ADIA) through its wholly-owned subsidiary is set to inject Rs 4,966.80 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited, media reported.

World's top cocoa producer Ivory Coast targets Indian market to reduce dependence on Europe: Report

Oct 07, 2023, at 06:35 am

New Delhi: World's top cocoa producer Ivory Coast is strategizing to reduce its reliance on Europe and bolster its cocoa industry. India, though not a major cocoa producer, is a key player in this plan, primarily importing beans to meet domestic demand, Moneycontrol reported.

Industry hails RBI's decision to keep key policy rate unchanged, continue withdrawal of accommodative stance

Oct 07, 2023, at 06:05 am

Mumbai: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday announced it will maintain the repo rate at 6.5 percent for the fourth consecutive time.

Sensex moves up 364.06 points

Oct 06, 2023, at 11:20 pm

The BSE Sensex remained strong for another day on Friday, as it spurted 364.06 pts to close strong at 65,995.63 following RBI decision to status quo on the policy rates,

Air India sets up integrated mega engineering warehouse in Delhi

Oct 06, 2023, at 05:43 pm

New Delhi/IBNS: Air India, the Tata-owned global airline, has commissioned a mega warehouse facility in Delhi to facilitate storage of over 1,000,000 engineering spares that are integral to maintenance, checks and repairs of its aircraft and ground support equipment.

Administrative agency of the U.S. state of Georgia hires TCS to replace its insurance claim platform

Oct 06, 2023, at 02:02 am

Atlanta (United States): Tata Consultancy Services (TCS) has been selected by the Georgia Department of Labor (GDOL) to replace its 1980s-era legacy platform with a proven, agile, secure, and scalable cloud-based unemployment insurance system that streamlines the claims process and ensures that eligible individuals receive prompt financial assistance and support when they need it most.

India's services PMI rises to 61 in September, signals strong momentum

Oct 05, 2023, at 06:29 pm

New Delhi/UNI: India's services sector activities continued to be strong in the month of September 2023 driven primarily by robust domestic demand and an upturn in demand from overseas clients.

Fitment committee refuses industry's demand to reduce GST on EV batteries, tobacco products: Report

Oct 05, 2023, at 04:26 am

New Delhi: The Goods and Service Tax (GST) fitment committee has declined the industry's request to reduce the tax on EV batteries and tobacco products, reported Moneycontrol.

NTPC's first 800 MW Super Thermal Power Project set up in Telangana

Oct 05, 2023, at 02:34 am

Hyderabad: The first 800 MW Unit of phase 1 of the Telangana Super Thermal Power Project of NTPC has been installed in the Peddapalli district.

Blue Dart to implement general price increase from Jan 1

Oct 05, 2023, at 02:31 am

Mumbai: Blue Dart Express Limited, an express air and integrated transportation and distribution express logistics company, Tuesday announced its General Price Increase (GPI), effective from January 1st, 2024.

Bank of Baroda awarded Payment Card Industry Data Security Standard (PCI DSS) Compliance Certificate by SISA

Oct 05, 2023, at 01:47 am

Mumbai: Public sector lender Bank of Baroda (Bank) has been awarded the prestigious Payment Card Industry Data Security Standard (PCI DSS) compliance certificate by SISA, a leading forensics-driven cybersecurity solutions company.

Indian Market: Sensex falls 286.06 pts

Oct 04, 2023, at 11:50 pm

The BSE Sensex on Wednesday lost another 286.06 pts to settle at 65,226.04 on foreign fund outflows amid weak Asian Market.

Honda Motorcycle & Scooter India sells over 5 Lac units in September

Oct 04, 2023, at 11:16 pm

Kicking-off the festive season, Honda Motorcycle and Scooter India (HMSI) has crossed 5 Lac sales mark in September’23 – the highest for FY’2023-24.

SBI launches ‘Mobile Handheld Device’

Oct 04, 2023, at 11:01 pm

The State Bank of India on Wednesday said it is availing banking services has announced introduction of  'Mobile Handheld Device’ for its FI customers.

India's Sept coal prodn grows 16% Y-o-Y to 67 MT

Oct 04, 2023, at 07:47 am

New Delhi: India produced 67.21million tonne (MT) of coal in September, surpassing the figures of 58.04 MT of the corresponding month in previous year, representing an increase of 15.81%. 

India needs to grow at 8%, more female workers in high quality jobs to reach developed country status: World Bank report

Oct 04, 2023, at 07:13 am

New Delhi: World Bank senior economist Dhruv Sharma has said India must achieve an approximate growth rate of 8 percent to attain developed country status by 2047, and underscored that achieving such rapid growth is unlikely with the current low level of female workforce participation, media reported.

RBI's Monetary Policy Committee likely to keep repo rate steady at 6.50%: Report

Oct 04, 2023, at 06:33 am

Mumbai: Experts are anticipating that the Monetary Policy Committee (MPC) will keep the repo rate steady at 6.50 percent and sustain a stance of 'Withdrawal of Accommodation' in the forthcoming October monetary policy.

HDFC Bank making changes to top management after mega merger

Oct 04, 2023, at 04:21 am

Mumbai: HDFC Bank is revamping its top management to bolster its mortgage business following its acquisition of another lender three months ago, Bloomberg reported.

Abu Dhabi's International Holding Company increases stake in Adani Enterprises by 5%

Oct 04, 2023, at 03:16 am

Mumbai: After divesting its shares in two Adani Group firms, Abu Dhabi's International Holding Company (IHC) announced on Tuesday that it has increased its stake in the group's primary entity, Adani Enterprises Ltd, to over 5 percent, reported Moneycontrol.

GST Payment for E-Commerce Businesses: Challenges and Solutions

Oct 04, 2023, at 02:00 am

In the realm of e-commerce, GST Payment represents a significant aspect that businesses need to handle efficiently. The introduction of the Goods and Services Tax (GST) in India marked a revolutionary tax reform aiming to subsume multiple indirect taxes into a unified system. However, for e-commerce businesses, it has brought along its own set of challenges. This article will dive deep into these challenges and introduce you to feasible solutions to significantly ease the process.