India's forex reserves swell by $3.55 billion to $599.53 billion
May 20, 2023, at 02:39 am
Mumbai: India’s foreign currency reserves grew for the fourth consecutive week, reaching $599.53 billion as of May 12, according to the Reserve Bank of India’s statistical supplement released on Friday.
RBI to withdraw Rs. 2000 notes by Sept 30, will remain legal tender
May 20, 2023, at 02:30 am
New Delhi/IBNS: The Reserve Bank of India Friday announced that it will withdraw Rs.2,000 notes from circulation and people can exchange or deposit them in their bank accounts by Sept 30.
India's defence production value crosses Rs. 1 lakh crore mark in FY 2022-23
May 19, 2023, at 11:21 pm
New Delhi: The Indian government on Friday said India's defence production value in Financial Year 2022-23 has crossed the figure of Rs. 1 lakh crore for the first time ever.
India achieves 47 percent growth in coal production during last nine years: Govt
May 19, 2023, at 10:37 pm
New Delhi: During the last nine years, India’s overall coal production has gone up by 47 percent to 893.08 Million Tonne (MT) and supply has touched 877.74 Million tonne, recording 45.37 percent growth, officials said on Friday.
ITC Ltd Q4FY23 standalone PAT grows 21% to Rs 5,086.86 cr
May 19, 2023, at 03:03 am
Kolkata/IBNS: Hotels to FMCG conglomerate ITC Ltd on Thursday reported a growth of 21.4% YoY in its Q4FY23 standalone PAT to Rs 5,086.86 crore compared to Rs 4,190 crore in the same period in FY22.
PNB Housing Financing's Q4FY23 PAT jumps 65% YoY to Rs 279 cr; FY23 PAT grows 25% to Rs 1,046 cr
May 19, 2023, at 01:16 am
Kolkata: PNB Housing Financing on Thursday reported Profit After Tax of Rs 279 crore, a substantial year-on-year increase of 65%, and a modest 4% quarter-on-quarter growth, for Q4FY23.
May 18, 2023, at 09:45 pm
Kolkata/IBNS: India's largest public sector lender State Bank of India on Thursday reported that its FY23 net profit crossed Rs 50,00 crore reaching Rs 50,232 crores, representing a YoY growth of 58.58%. The net profit for the fourth quarter also witnessed impressive growth, surging by 83.18% to Rs 16,695 crores.
May 18, 2023, at 09:10 pm
New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the signing of the Memorandum of Understanding (MoU) between the Competition Commission of India (CCI) and the Egyptian Competition Authority (ECA).
Cabinet approves Rs 1.08 trillion subsidy for Kharif crop fertilizer
May 18, 2023, at 09:04 pm
New Delhi: India's fertilizer subsidy bill for the current financial year is expected to exceed the budgeted amount of Rs 1.75 trillion by Rs 50,000 crore, reaching Rs 2.25 trillion, Chemical and Fertilizers Minister Mansukh Mandaviya said on Wednesday.
SCSS Scheme: Invest up to Rs 30 Lakh for Maximum Returns
May 18, 2023, at 06:23 pm
As a senior citizen, investing carefully is the key to enjoying your life after retirement. While there are many traditional and modern avenues you can go for, such as the Flexi FD, the Senior Citizen Savings Scheme (SCSS) remains one of the most popular.
May 18, 2023, at 04:57 pm
Mumbai/UNI: The BSE Sensex on Thursday recovered 155.67 points at 61,716.31 in opening trade as buying was seen in FMCG, Industrials and IT stocks.
PM Modi to chair NITI Aayog's governing council meeting on May 27
May 18, 2023, at 06:09 am
New Delhi: Prime Minister Narendra Modi is scheduled to preside over the governing council meeting of NITI Aayog on 27th May, media reports said.
May 18, 2023, at 05:07 am
Senior executives from Tesla Inc., the US-based electric car maker, held meetings on Wednesday with officials from the Prime Minister's Office (PMO), Ministry of Road Transport and Highways, and Ministry of Heavy Industries in New Delhi, media reports said.
Amended PLI scheme for IT sector to produce 3 lakh jobs: Ashwini Viashnaw
May 18, 2023, at 04:50 am
New Delhi: Union Minister Ashwini Vaishnaw on Wednesday said that the recently approved modified production-linked incentive scheme for IT hardware manufacturing is expected to create approximately 75,000 direct employment opportunities as well as three times as many indirect jobs.
Hinduja Group chairman SP Hinduja passes away at 87
May 18, 2023, at 03:11 am
London: Srichand Parmanand Hinduja, the eldest among the Hinduja brothers and the chairman of the Hinduja Group, passed away in London on Wednesday at the age of 87.
RBI allows SBI Funds Management to buy 9.99% stake in HDFC Bank
May 18, 2023, at 03:06 am
Mumbai: The Reserve Bank of India (RBI) has granted permission to SBI Funds Management (SBIMFL) to acquire a stake of up to 9.99 percent in terms of paid-up share capital or voting rights of HDFC Bank, the bank said in an exchange filing on Wednesday.
Tata Sons Chairman N. Chandrasekaran awarded France's highest civilian honour
May 18, 2023, at 03:02 am
Mumbai: Tata Sons Chairman N. Chandrasekaran was awarded the highest civilian honour of France "Chevalier de la Légion d'Honneur"—the highest honour in France by French Minister for Europe and Foreign Affairs Catherine Colonna.
May 17, 2023, at 11:55 pm
Mumbai: Bharat Petroleum Corporation Limited (BPCL), a oil and gas company in India, has announced its ambitious expansion plans worth Rs. 49,000 Crore, further increasing the Company’s footprints in petrochemical segment and renewable energy, together with augmenting marketing infrastructure.
Aditya Birla Capital launches ‘Udyog Plus’
May 17, 2023, at 11:48 pm
New Delhi/Kolkata: Aditya Birla Capital, the financial services business of the Aditya Birla Group, through its lending arm, Aditya Birla Finance, announced the launch of Udyog Plus, an innovative one-stop business platform, designed for MSME customers.
May 17, 2023, at 03:46 pm
Mumbai: Airline major IndiGo has inducted its second Boeing 777 aircraft, on damp lease, which will operate to and from Mumbai- Istanbul route, effective on Wednesday.
May 17, 2023, at 07:39 am
The Interim Resolution Professional (IRP) of Go First Abilash Lal has informed the National Company Law Tribunal (NCLT) that the financially strained airline has incurred disproportionate liabilities due to the grounding of its aircraft, Moneycontrol reported.
Banks seek one more year to implement new loan provisioning system
May 17, 2023, at 06:42 am
Mumbai: Banks have appealed to the RBI for an additional year to implement the Expected Credit Loss (ECL) system for loan provisioning, said media reports.
Russian companies investing rupee surplus in Indian govt bonds: Report
May 17, 2023, at 06:27 am
Mumbai: According to the Indian Banks' Association (IBA), Russian banks and companies with trade surpluses from Indian lenders are using the rupee funds to invest in domestic government debt, Reuters reported.
Mobile Premier League expands in Africa
May 17, 2023, at 05:38 am
New Delhi: Mobile Premier League (MPL), the mobile esports and digital gaming platform, has officially launched its app in Nigeria, marking its first foray into the African gaming market.
Indian Oil Q4FY23 PAT soars 67% YoY to Rs 10,059 crore
May 17, 2023, at 05:24 am
Mumbai: State-owned refiner Indian Oil Corp Ltd reported a jump in its standalone net profit for the quarter ended March 2023, with a year-on-year growth of 67 percent to Rs 10,059 crore compared to the net profit of Rs 6,021 crore recorded in the same period last year.
Top Tesla execs to visit India to explore supply chain expansion outside China: Report
May 17, 2023, at 05:12 am
Amid ongoing trade tensions between the United States and China, companies such as Tesla are quickly understanding the need to redirect their focus away from China.
May 17, 2023, at 03:37 am
If the consultation paper issued by the market regulator SEBI is approved, it could enable higher educational institutions, urban local bodies, and Micro Units Development & Refinance Agency (MUDRA) to participate as Qualified Institutional Buyers (QIBs) in investing in debt securities, Moneycontrol reported.
Paytm promotes Bhavesh Gupta as president and COO
May 17, 2023, at 03:09 am
Mumbai: In a move to bolster its lending operations amidst growing competition in the digital lending sector, Paytm has promoted Bhavesh Gupta, a key executive in its lending division, to the position of President and Chief Operating Officer (COO).
Bharti Airtel Q4FY23 net profit soars 50% YoY to Rs 3,006 cr; ARPU rises to Rs 193
May 17, 2023, at 02:09 am
Mumbai: Bharti Airtel, the second-largest telecommunications company in India, recorded a massive 50% increase in consolidated net profit to reach Rs 3,006 crore for the quarter ending in March 2023 compared to Rs 2,008 crore in the same period last year.
Vodafone plans to cut 11,000 jobs over next three years
May 17, 2023, at 12:15 am
Telecom major Vodafone on Tuesday said it might cut 11,000 jobs over three years.