Business Standard - October 05, 2024

In this issue

October 05, 2024

RBI may hold rates for 10th time

The reconstituted six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is expected to maintain the \"status quo\" for the 10th consecutive policy review, said all the 10 respondents polled by Business Standard ahead of the panel's meeting during October 7-9. The RBI will announce the review of the policy on October 9.

2 mins

Markets suffer worst week in over 2 years

West Asia crisis weighs on sentiment; FPIs net sell ₹37,088 cr shares this week amid major shift to China

2 mins

BSE 100 companies boost R&D, innovation challenges persist

R&D spend grows 152% in 5 yrs to ₹63,072 crore in FY24

4 mins

Committed to structural reforms in 3rd term: PM

Modi confident India will continue to grow at more than 7%

2 mins

Temasek in talks to buy up to 15% in Haldiram's

Temasek Holdings is in talks to buy a minority stake in Haldiram Snacks, people familiar with the matter said, a transaction that may value India's biggest snack maker at about $11 billion.

1 min

‘For Rado, India could remain number one market’

Swiss luxury watch brand Rado has had a stellar run in India as the country overtook China to become the brand's biggest market in the world last year.

1 min

China's loss may be Indian companies' gain in EV race

Li-ion cells may become cheaper after punitive tariffs imposed by the US

2 mins

BMW India aims to double EVs' share by next yr

Plans to introduce 10-12 products

2 mins

No CNG, hybrid launch for now: Nissan

Japanese automaker studying consumer trends related to various powertrains

1 min

Affordable housing supply in India's top 6 cities slows to a trickle

Real estate firms say costs for such projects unviable, see better gains in luxury properties

2 mins

Gen Al: India Inc chugs cautiously

The last of the three-part series shows how Indian firms are upping their AI play, but Gen AI progression remains focussed on HR and customer experience applications

3 mins

‘Direct selling biz in India is growing’

EDYTA KUREK, senior vice-president of Oriflame India and Indonesia, is the first woman to lead the Swedish beauty brand's operations in India. In a conversation with Veenu Sandhu, conducted both in-person and virtually in New Delhi, Kurek discusses Oriflame's commitment to the direct-selling model, its plans to expand its women-led sales force. Edited excerpts:

2 mins

Ace acquires another plane as Jet deal gets delayed

Ace Aviation, which has been fighting Jet Airways for the acquisition of three Boeing B777 aircraft, said that it has acquired another aircraft for the conversion slot in early February 2025. Conversion slots are time slots given to change plane type.

2 mins

Amazon sees gold rush in festival season

Amazon India has witnessed an 84 per cent year-on-year (Y-o-Y) increase in sales of hallmarked gold jewellery and posted a 5-fold spike in demand during the first two days of its ongoing Amazon Great Indian Festival (AGIF) sale event, which started on September 27.

1 min

Social security pact with US to take time: Goyal

India will continue its dialogue with the United States (US) on a totalisation or social security agreement to protect the interests of cross-border workers, Commerce and Industry Minister Piyush Goyal has said.

2 mins

Living standards to see steepest rise in coming decades: FM

The upcoming decades will see the steepest rise in living standards for the common man, making it a period-defining era for an Indian to live in, Finance Minister Nirmala Sitharaman said on Friday.

2 mins

Ujjwala scheme may get fourth extension

2.67 mn applications pending nationwide for induction into PMUY

2 mins

SRO for fintechs set to change membership profile

The Fintech Association for Consumer Empowerment (FACE) is to change its membership profile to make it more representative of the sector.

1 min

Jaishankar to visit Pak to attend SCO summit

India on Friday announced that External Affairs Minister S Jaishankar will travel to Pakistan to attend a conclave of the Shanghai Cooperation Organisation (SCO) in mid-October.

1 min

Services PMI hits 10-month low as demand cools

Growth in India's dominant services sector declined to a 10-month low in September on the back of a slowdown in demand as new business, international sales, and output all rose at their slowest rates since late 2023, according to a private business survey released on Friday.

1 min

Free seeds under Oilseeds Mission, says Chouhan

Agriculture Minister Shivraj Singh Chouhan on Friday said the government was planning to provide free breeder, foundation, and certified seeds to farmers across 347 districts in 21 states as part of the newly approved National Mission on Edible Oil-Oilseeds (NMEO-Oilseeds).

1 min

Credit offtake, deposit mobilisation moderate

Deposit mobilisation and credit offtake in banking moderated in the first half of this financial year (H1FY25) over the same period a year ago.

1 min

RBI seeks loan data from P2P firms

Norms tightened after flagging regulatory violations by some lending platforms

2 mins

October or December? When is the ripe time?

The advanced economy (AE) world has now moved into an easing momentum.

3 mins

HDFC Bank mobilises ₹1.2 trn in deposits in Q2

Deposit growth outpaces credit growth in Sept qtr

1 min

EU votes in favour of hefty tariffs on China

China urges EU to delay 45% tariff implementation

1 min

US port strike ends as workers agree to tentative deal

US dock workers and port operators reached a tentative deal that will end a crippling three-day strike that has shut down shipping on the US East Coast and Gulf Coast, the two sides said Thursday.

1 min

Nobel Prize 2024: Wars, famine, AI in focus

Wars, a refugee crisis, famine and artificial intelligence (AI) could all be recognised when Nobel Prize announcements begin next week under a shroud of violence.

1 min

US job growth surges; unemployment rate fell to 4.1% in Sep

US job growth accelerated in September and the unemployment slipped to 4.1 per cent, further reducing the need for the Federal Reserve to maintain large interest rate cuts at its remaining two meetings this year.

1 min

Zionist entity will be uprooted: Khamenei

Resistance in the region won't back down despite setbacks: Iran top leader

1 min

Off the beaten tram track

In Calcutta, before it became Kolkata, the electric tram governed the rhythms of my childhood home.

5 mins

Writings on the Haryana wall

The BJP's 2024 Haryana campaign is different. Modi's isn't the lead face on hoardings, and after two terms in power, the party is relying once again on its mainstay: Upper castes and Punjabis

4 mins

A case of exploding pagers

The pager and walkie-talkie explosions in Lebanon on two days in mid-September added a new and very scary dimension to the conflict in West Asia.

3 mins

Higher e-auction share crucial for Coal India stock

Coal India (CIL) has reported a production of 51 million tonnes (mt) for September, up 10.4 per cent month-on-month (M-o-M), but down 1 per cent year-on-year (Y-o-Y).

2 mins

NSE pays ₹643 cr to Sebi, settles TAP misuse case

The National Stock Exchange (NSE), its former managing director (MD) and chief executive officer (CEO) Vikram Limaye, and eight others on Friday settled a case pertaining to misuse of trading access point (TAP) by paying ₹643 crore to the Securities and Exchange Board of India (Sebi).

1 min

HDFC BANK'S MSCI WEIGHT SET TO RISE

India's largest private sector lender HDFC Bank is poised to see its weighting increase further in global services provider MSCI indices due to its expanded foreign portfolio investor (FPI) investment headroom.

1 min

Sebi proposes measures to boost retail participation in G-Sec mkt

The Securities and Exchange Board of India (Sebi) is considering initiatives to promote retail participation in government securities (G-Secs) through stock brokers.

1 min

Jio Fin-BlackRock JV gets Sebi approval for MF entry

Jio Financial Services' joint venture with BlackRock to enter the mutual fund (MF) space in India has received the nod from the Securities and Exchange Board of India (Sebi), the firm stated in an exchange filing on Friday.

1 min

"The mother of all bear mkts in equities is dead"

Developments in West Asia have triggered a panic-like situation across global equity markets. SHANKAR SHARMA, founder of wealth management firm GQuant Investech, spoke with Puneet Wadhwa in New Delhi about escalating tensions between Israel and Iran. Edited excerpts:

3 mins

DMart stock slips despite strong showing in Q2

Mixed response from brokerages; company had 377 stores till Sep 30

2 mins

The shrinking presence of smaller parties in Haryana Assembly polls

Since 2014, Haryana's electoral politics has seen smaller parties cede their vote shares to the Bharatiya Janata Party (BJP) and the Congress, a trend that these political parties would hope to buck in this Assembly polls.

1 min

PM to launch infra projects, agri schemes in Maha today

Prime Minister Narendra Modi will on Saturday inaugurate infrastructure projects worth ₹32,180 crore in election-bound Maharashtra.

1 min

Trade on road to recovery but Indian firms tread cautiously

The concluding part of the series highlights stabilising trade ties with Dhaka, but payment delays anda complex bilateral environment remain major concerns

4 mins

DoT launches new system to block fraud international calls

The Department of Telecommunications (DoT), in collaboration with Telecom Service Providers (TSPs), has introduced an advanced system designed to identify and block incoming international spoofed calls before they can reach Indian telecom subscribers.

1 min

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