Business Standard - October 14, 2024

In this issue

October 14, 2024

SBI talent emerges high-yield asset for private sector banks

Regulatory comfort drives bank boards to appoint SBI officials for stability

2 mins

India stakes claim in 6G patents race

India is advancing aggressively in the race to shape the next generation of wireless technology.

2 mins

Ola Electric's BOSS sale under regulatory lens

Not updating ARAI about discount could risk subsidy claim

3 mins

QIP fundraising hits record high this year

Buoyed by bull run, 71 firms mobilise ₹88,678 crore so far

3 mins

QIP fundraising hits record high this year

Buoyed by bull run, 71 firms mobilise ₹88,678 crore so far

2 mins

Navi becomes 5th largest UPI player

Sachin Bansal-owned fintech firm Navi became India's fifth-largest player in UPI ecosystem in September, clocking 120.41 million transactions amounting to ₹6,549.1 crore, according to the National Payments Corporation of India (NPCI).

1 min

Collateral anchor: Fintech cos steer towards secured lending

This comes after RBI raised risk weights on unsecured personal loans

2 mins

Women bring home the sales, delivering festival wins for e-com firms

India's e-commerce industry is increasingly creating opportunities for women, hiring them in large numbers this festival season to cater to the surge in sales.

2 mins

CCPA tells Ola to give refund options to customers

The Central Consumer Protection Authority (CCPA) on Sunday directed ride-hailing service provider Ola Cabs to provide a clear choice to consumers to opt between a bank account transfer or a coupon when they seek refund during the grievance redressal process.

1 min

Indians eyeing offshore firms to gain access: JM Financial

Healthcare, pharma to drive M&As in coming qtrs

1 min

Reliance seeks govt intervention for fair spectrum allocation

Telecom operator Reliance Jio has sought Union Minister Jyotiraditya Scindia's intervention to get regulator the Telecom Regulatory Authority of India (Trai) to issue a revised consultation paper on a proposed spectrum allocation rule to ensure a level playing field between terrestrial and satellite players.

1 min

Glenmark arm recalls products in US

Drug firm Glenmark is recalling two products in the US due to manufacturing issues, according to the US Food and Drug Administration (USFDA).

1 min

Drop in airfares on major routes lights up Diwali for customers

15% decline in oil prices may have contributed to lower ticket prices

1 min

Lower input costs may aid pharma firms' Q2 margins

Analysts expect overall sales growth to be 10-11%

3 mins

Govt may disband unit tracking pre-GST evasion

DGGI expects to complete investigation in all such cases by March

1 min

Upper limit for LIC's new endowment plan reduced to 50 years

State-owned Life Insurance Corporation of India (LIC) has revised the upper limit for purchasing its new endowment plan from 55 years to 50 years, according to a communication reviewed by Business Standard. The revision is effective October 1, 2024.

1 min

FPIs pull out ₹58,711 crore in Oct so far

Foreign investors turned net sellers in October, withdrawing shares worth ₹58,711 crore in the month so far owing to escalating conflict between Israel and Iran, a sharp rise in crude oil prices, and the strong performance of the Chinese market. The outflow came following a nine-month high investment of ₹57,724 crore in September.

1 min

Helpful amendments, court decisions for exporters

Exporters have good news. The government has issued necessary notification omitting Rule 89(4A), Rule 89(4B), and Rule 96(10) from the Central Goods and Services Tax Rules, 2017 (CGST Rules). Two useful decisions have also come in from the courts.

2 mins

Food items and textiles top manufacturing employers

Of the total 29 major industrial groups covered under the Annual Survey of Industries (ASI) - 'food products', which involves preserving and processing of meat, fish, crustaceans, fruits, vegetables, and dairy products among others, has the highest number of operational factories (40,508) and engaged the most significant number of people (2.1 million) in the organised manufacturing sector in the financial year 2022-2023 (FY23), showed findings from the latest ASI results released by the National Statistical Organisation (NSO).

1 min

Battlefield without soldiers

There is no sign that either alliance in Maharashtra is ready with a list of candidates for the Assembly election, writes ADITI PHADNIS

3 mins

MLALAD fund hike in Delhi raises poll pitch

AAP govt increases the amount to ₹15 crore, the highest in India, sparking Opposition criticism over potential misuse ahead of polls, writes ARCHIS MOHAN

3 mins

Counting the cost of prohibition in Bihar

The alcohol ban in the state, in force for nine years now, has not impacted education spending much, but literacy outcomes leave a lot to be desired. An analysis by INDIVJAL DHASMANA

4 mins

Led by believers in city's future, Detroit is on rebound

On a sunny Friday morning last month, Mike Duggan, the mayor of Detroit, got behind the wheel of his black Jeep Grand Cherokee to give a tour of the city he has led for 10 years.

3 mins

ECB likely to deepen global easing with rate cut

The European Central Bank (ECB) will probably advance the global push for monetary easing in the coming week with an interest-rate cut that policymakers had all but ruled out just a month ago.

1 min

Dubai's allure to expats strains its infrastructure

The extent of Dubai's post-pandemic rebound was on display late last month. On the same day that Africa's richest man unveiled plans to set up his family office, Santander Group became the latest firm to bolster its wealth offering in the emirate.

1 min

In a first, mainland native elected Macau chief executive

Former judge Sam Hou Fai (pictured) was elected chief executive-designate of China's Macau, the government said on Sunday, setting him up to be the leader of the casino-dominated area next to Hong Kong.

1 min

Israeli tanks destroy gates of peacekeeper base: UN

Netanyahu calls on the UN to evacuate troops from combat areas in Lebanon

1 min

Small is not beautiful

India's bias against large factories is damaging

2 mins

A revival in China?

Recent government stimulus does not solve the deeper problems

3 mins

Inside Joe Biden's war room

It's not listed among the enumerated powers of the American presidency, but one of the modern expectations of the office is that Bob Woodward will write at least one book about your administration.

3 mins

Ratan Tata: An Environmentalist's Homage

Our first interaction with the late Ratan Tata was not pleasant. Delhi was choking with pollution, and our campaign on the right to clean air had been launched. Diesel was a fuel that was being indicted for emissions of tiny particulate matter PM2.5. This all was new in the mid-1990s, as science was discovering how fuel and vehicle quality, when improved, would lead to an unexpected outcome of smaller particulates, which could go deep into our lungs. So, my late colleague Anil Agarwal and I wrote about the dangers of diesel. And we promptly got a defamation notice of some consequent sum of money from Tata Motors. That was when Ratan Tata had just launched his car enterprise. It was riding on the change of fuel - diesel, which would give his company an edge over the petrol variants of Maruti Suzuki and others. We were not the kind to back down. Nor was he. It was a messy battle in the highest court of the country.

3 mins

Water security

India must increase wastewater reuse

2 mins

Hyundai India's growth engine roars on SUVs, capacity expansion

The carmaker's short-term gains may stall in neutral over high valuations

2 mins

Sharpened focus that cuts through noise to find value

FULL SPEED AHEAD: PEERS, BENCHMARKS IN THE REARVIEW

2 mins

Use prepaid forex card abroad to avoid currency fluctuations

Pay in local currency instead of Indian rupees to circumvent dynamic currency conversion

3 mins

Pension delayed? File a consumer complaint

Qazi Muhammad Ateeq was an employee of the Union Bank of India. He was compulsorily retired on May 16, 2011, but his pension benefit was inordinately delayed. Finally, an amount of ₹15,40,000 was paid on September 10, 2014.

2 mins

SHOP TALK

Can Reliance Retail double turnover in 3-4 years, as Isha Ambani says it will?

4 mins

PSU defaults and moral hazards

How long will the banking system bank on government ownership?

4 mins

Music in streaming series hits the right note

Indians first saw streaming video on YouTube in 2008. Disney+ Hotstar arrived in 2015. However, streaming shows and films truly took off only after the entry of Netflix and Amazon Prime Video in 2016. From almost nothing, the market has grown to ₹31,000 crore in advertising and pay revenue by 2023. Currently, over 524 million Indians watch streaming video, according to Comscore data. This growth is creating several opportunities and raising some challenging questions for other parts of the entertainment ecosystem.

3 mins

PRIME MINISTER INTERNSHIP SCHEME: Over 155,000 apply within a day

Shortlist of candidates identified by Al to be shared with firms on Oct 15

2 mins

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