CATEGORIES

SC pulls up Centre over stubble burning

The Supreme Court on Wednesday pulled up the Centre for making the environment protection law \"toothless\", and said the provision under the Commission for Air Quality Management in National Capital Region and Adjoining Areas (CAQM) Act of 2021, which deals with penalty for stubble burning, was not being implemented.

UP linking startups with big industries to boost economy

Move aimed at making the state a trillion-dollar economy in 4-5 years, says panel

'Employment, women safety UP's growth mantra'

The Uttar Pradesh (UP) government's mantra for growth is that every person should get employment, and every woman should have a safe work environment, said Awanish Kumar Awasthi, advisor to UP Chief Minister Yogi Adityanath.

Bajaj Finserv Q2 profit rises 8% to ₹2,087 crore

Bajaj Finserv on Wednesday reported an 8 percent year-on-year (Y-o-Y) increase in its consolidated net profit at ₹2,087 crore for the second quarter of the financial year 2024-25 (Q2FY25). It made a net profit of ₹1,929 crore in Q2FY24.

SBI raises ₹5,000 cr via AT-1 bonds

Country's largest lender State Bank of India (SBI) raised ₹5,000 crore on Wednesday through the issuance of Additional Tier-I (AT-1) bonds at a coupon rate of 7.98 per cent to bolster its capital base, marking the bank's first such issuance in the current financial year.

DFS secy: MFIs must refrain from reckless lending

Microfinance institutions (MFIs) have played a crucial role in fostering financial inclusion but they should refrain from any reckless lending, Financial Services Secretary M Nagaraju said.

Growth needs to be supported by cheaper credit

Nagesh Kumar, one of the three newly appointed external members of the Reserve Bank of India (RBI)'s Monetary Policy Committee (MPC), said on Wednesday that interest rates should be reduced to make loans cheaper to support growth, which has been sluggish.

Major port cargo rose 6% in September

Major ports, owned by the central government, registered a 6 per cent growth in cargo in September at 65 million tonnes (mt), primarily driven by crude oil cargo shipments and an increase in miscellaneous commodities.

Can't accept FDI blindly, need safeguards: FM

India will place restrictions on foreign direct investment (FDI) in the national interest to ensure safeguards because of its location in a highly sensitive neighbourhood, Finance Minister Nirmala Sitharaman said during an interactive session at the Wharton Business School in the US on Tuesday.

GMR Group secures ₹6.3K cr investment from ADIA arm

Hopes for significant reduction in pledged shares after completion of debt deal

Dalmia to set up cement unit in MP

Dalmia Cement will set up a new cement plant, with a capacity of 4 million tonnes, in Madhya Pradesh at a cost of ₹3,000 crore, making it the first unit in the country to run on 100 per cent renewable energy.

Jio Fin, Allianz discuss insurance JV

Jio Financial Services, controlled by Mukesh Ambani, has held talks with Allianz SE to set up an insurance partnership in India as the German firm seeks to scrap two existing joint ventures in the country, according to people familiar with the matter.

Lulu's $1.8 bn UAE IPO opens on Oct 28

MAJOR ISSUES

Trai releases paper on authorisations of satellite gateway

The Telecom Regulatory Authority of India (Trai) has brought out a consultation paper on network authorisations, asking the industry whether a separate authorization is needed for satellite communication services, especially for Satellite Earth Station Gateways (SESG).

Deferred tax drags down Honda FY24 profit by 53%

Honda Cars India (HCIL) net profit dropped by 52.8 per cent year-on-year (Y-o-Y) to ₹661.4 crore in 2023-24 (FY24), primarily due to deferred tax of ₹359.8 crore, according to the annual results submitted to the Registrar of Companies (ROC) and reviewed by Business Standard.

NPCI nod to onboard users may help Paytm streamline UPI operations

One97 Communications (OCL), the company that operates brand Paytm, received a nod from the National Payments Corporation of India (NPCI) to onboard new Unified Payments Interface (UPI) users.

Coca-Cola Q3 loses fizz on monsoon

Beverage major Coca-Cola reported a 1 per cent decline in volumes in the third quarter ended September 27, owing to temporary factors, mainly heavy monsoons in several states, as the company flagged a slowdown in emerging markets globally.

TVS logs 45% rise in profit on record 2W, 3W sales

Sales grow 14%, registering the highest ever quarterly sales in September qtr

HUL to scoop out ice cream business

Hindustan Unilever's (HUL's) board of directors decided in a meeting held on Wednesday to separate the ice cream business.

Average M&A value halves in 2024

Adani deal is 15x the average deal value for the year

UP's GSDP to surpass ₹32 trn in FY25: CM

Adityanath says 64K hectares freed from land mafia

HUL profit falls 2.4% in Q2, misses estimates

Growth moderates in urban areas, rural India sees gradual pickup

Byju's back in insolvency as SC mixes NCLAT order

The Supreme Court on Wednesday set aside the National Company Law Appellate Tribunal (NCLAT) order halting the insolvency proceedings against edtech firm Byju's on a petition filed by US-based creditor firm Glas Trust Company LLC, which represents lenders to which Byju's owes $1.2 billion.

Setting the dial to 2030, Bharat 6G Alliance seeks PLI extension

The working group on device technology, sensors, and manufacturing systems, formed under the aegis of the Bharat 6G Alliance, has recommended extending the production-linked incentive (PLI) scheme for mobile devices until 2030.

Pre-approved loans easy but customers must be cautious

Credit access has become easy as banks and other financial institutions offer pre-approved loans in minutes, but financial say consumers must advisors exercise caution.

CRISIL SME TRACKER: Uptick in production volume to benefit auto component SMEs

The revenue of domestic auto component manufacturers is projected to increase 8-10 per cent onyear in FY25, driven by demand from original equipment manufacturers (OEMs) and the replacement market.

₹4.25 trn transmission infra needed by 2027

National Electricity Plan says investment must to meet power demand

Fear low credit score? Avoid one-time loan settlement

Private sector banks like Axis, Kotak Mahindra, and RBL have reported an increase in non-performing assets in their unsecured loan portfolios, which include credit cards and personal loans. Instead of panicking, here's how individuals nearing default, or those who have already defaulted can deal with the situation.

Crude oil may slip to low $60s by 2025-end

Weak demand outlook weighs on prices after recent highs: Analysts

Sebi issues showcause notice to Adani Energy

The Securities and Exchange Board of India (Sebi) has sent a showcause notice to Adani Energy Solutions over alleged wrongful categorisation of certain investors as public shareholders, the company disclosed in an exchange filing on its quarterly results on Tuesday.