Business Standard - June 20, 2024

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June 20, 2024

₹76K cr Vadhavan Port project in Maha gets Cabinet approval

₹7,453 cr viability gap fund for offshore wind energy projects okayed

3 mins

Runway to takeoff: How Adani sees economic progress

Adani Group Chairman Gautam Adani lauded the 1991 reforms, initiated during the Congress rule, as the foundation and runway of India's economic progress. He also termed the post-2014 tenure as the \"take-off\".

2 mins

TaMo's JLR drives up investment to ₹1.9 trn

20% increase till FY28; firm eyes double-digit Ebit of 10% by FY26

2 mins

Debroy for new official poverty line

India needs a new poverty line to estimate the extent of deprivation in the country, said Bibek Debroy, chairman of the Economic Advisory Council (EAC) to the Prime Minister (PM), on Wednesday.

2 mins

Vodafone rings in ₹28,500 crore bulk deal day

Telco major sells 18% stake in Indus Towers for ₹15,300 crore

2 mins

Smart watch sales grew 5x but now slowing: Titan

India's 130-million watch per annum market is witnessing a quiet change.

2 mins

TaMo to step on price pedal for CVs

Prices to go up by 2% from July 1

1 min

SBI to raise up to ₹20k cr to fund infra projects

Fundraise through long-term bonds in the current financial year

2 mins

Proxy advisory firm against Singhania as Raymond CMD

A proxy advisory firm has recommended the shareholders of the leading textile and fabric manufacturer Raymond to vote against the reappointment of Chairman & Managing Director Gautam Singhania on the board of the company.

1 min

Screwvalas' Swades files draft prospectus at SSE

Serial investor Ronnie Screwvala's (pictured) Swades Foundation has filed its fund-raising draft at the Social Stock Exchange (SSE) under NSE aiming to raise 10 crore for specific projects.

1 min

'Tech capable of improving our living standard'

India is ahead in terms of the artificial intelligence (AI) talent base but the country lags when it comes to the adoption of Generative AI (GenAI) among enterprises, Arundhati Bhattacharya, chief executive officer (CEO) and chairperson, Salesforce India said on Wednesday.

1 min

India now 3rd-largest domestic airline market; capacity doubles in 10 yrs

India is the third-largest domestic airline market in the world, up from number five position a decade ago, according to analysis based on OAG data.

1 min

Air India banks on AI to cut call centre costs

Air India's use of artificial intelligence (AI) has had a huge impact on the airline major's call centre volumes and the technology integration has reduced costs by 100 times, a senior company executive said on Wednesday.

1 min

Raise women's share in workforce to 25% by 25: DGCA circular

Indian airports and airlines should have at least 25 per cent women at various levels by next year, the Directorate General of Civil Aviation (DGCA) suggested Wednesday while issuing multiple recommendations to them to promote more gender equality in the country's aviation sector.

1 min

Looking to evolve into int'l hub in 15 yrs: BIAL

Bengaluru airport is already a domestic hub- a transit point for two domestic services and it expects to evolve into a global hub comparable to airports in Doha and Singapore within the next 15 years, according to Satyaki Raghunath, chief operating officer of Bangalore International Airport (BIAL), in an interview with Business Standard.

2 mins

Govt monetised ₹1.56 trn assets, missed FY24 target

The government monetised assets worth under the 1.56 trillion National Monetisation Pipeline (NMP) in 2023-24, lower than the target of 1.8 trillion, an official statement said on Wednesday.

1 min

Direct payments may boost deposit insurance coverage

Limits, fintech challenge and climate change remain issues

1 min

RBI seeks applications for NBFC self-regulatory organisations

The Reserve Bank of India (RBI) on Wednesday invited applications for recognition of self-regulatory organisations (SRO) to oversee the non-banking finance companies, saying a maximum of two such entities will get the approval for the sector.

1 min

Upward shift in growth rate a trend after Covid

Strong revival in private investment important for growth: Central bank

2 mins

June setback may not dampen overall monsoon show

Meteorologists remain optimistic as IMD downgrades June rainfall prediction

3 mins

GST panel may regularise multiple tax issues

The GST Council is likely to regularise taxation issues arising on a host of goods and services, including the supply of cereals, pulses, flour packets of over 25 kg.

1 min

CIL awards underground mines to private players

Contracts given on revenue-share model

2 mins

More frequent surveys for jobs data on cards

The government is considering increasing the frequency of surveys for jobs data to monthly for urban areas and quarterly for rural areas, a senior government official said.

1 min

GST anti-profiteering cases may be taken up by appellate tribunal

The GST Council in its Saturday meeting might mandate the GST Appellate Tribunal (GSTAT) to adjudicate anti-profiteering cases and introduce \"sunset date\", allowing filing of such complaints only up to April 1, 2025.

1 min

Higher MSP of 14 Kharif crops gets Cabinet nod

The Union Cabinet, led by Prime Minister Narendra Modi, on Wednesday increased the Minimum Support Price (MSP) for Kharif crops by 512.7 per cent for the 2024-25 marketing season.

1 min

Boost jobs and stick to fiscal goals, economists advise FM

Staying on the path of fiscal consolidation and extending the production-linked incentive scheme to small and medium enterprises, as well as labour-intensive sectors to create jobs and boost consumption, were key suggestions discussed in Finance Minister Nirmala Sitharaman's meeting with economists on Wednesday.

2 mins

India-US to deepen collaboration in mining, critical minerals tech

India and the United States have agreed to work closely on technology, develop collaborative programs for geological research agencies and quickly finalise an agreement on critical minerals, official sources said.

1 min

Hundreds die of heat during Haj pilgrimage

Hundreds of people died during this year's Haj pilgrimage in Saudi Arabia as the faithful faced intense high temperatures at Islamic holy sites in the desert kingdom, officials said on Wednesday as people tried to claim their loved ones' bodies.

1 min

Toyota chair's shareholder backing slides to record low

Toyota Motor Chairman Akio Toyoda (pictured) was reappointed with his lowest shareholder support on record after an ongoing vehicle safety probe drew opposition from foreign investors and sowed doubt in the company's leadership.

1 min

Boeing CEO blasted by Senators for 'broken' safety record

Boeing Chief Executive Officer Dave Calhoun (pictured) faced searing criticism in a Senate hearing that zeroed in on the company's manufacturing shortcomings and accused its leader of putting profit ahead of safety.

1 min

Putin, Kim ink mutual defence pact

Comprehensive strategic partnership agreement also signed as Russian prez visits N Korea after 24 years

1 min

Give us tools, we'll finish the job: Netanyahu to US

Israeli Prime Minister Benjamin Netanyahu said President Joe Biden is withholding weapons amid the war against Hamas as his country is \"fighting for its life,\" an accusation the White House denied.

2 mins

Capital account

Dependence on govt expenditure for growth must be reduced

2 mins

7 years of GST: Balancing tech & transformation

Seven years on, the goods and services tax (GST) has cemented its place as a game-changer for India's digital economy.

3 mins

The value of a human life

Economics and science have created injustices that legal systems cannot solve. Two looming problems are climate change and ageing societies

4 mins

Top 3 US firms have nearly a fifth of mcap

With chipmaker Nvidia becoming the world's most valuable company, the top-three listed firms in the US now account for almost a fifth of its market capitalisation (mcap).

1 min

AIF investments top ₹4 trn, commitments cross ₹11 trn

Investments made by alternative investment funds (AIFS) breached the ₹4 trillion mark by March 2024, while commitments from wealthy investors topped ₹11 trillion for the first time, according to data provided by the Securities and Exchange Board of India (Sebi).

2 mins

Regulatory concerns a hurdle as private general insurance players gain ground

The May 2024 data for the General insurance industry revealed some clear trends.

2 mins

Retail investors' AUM share shrinks for 3rd yr

The share of retail investors in the total assets under management (AUM) of equity mutual fund (MF) schemes has dipped in the past three consecutive years despite retail AUM more than doubling during this period.

2 mins

Balkrishna Industries excels, peers struggle

Tyre exports, gains in market share help firm drive ahead

2 mins

INDIAN REFINING SEGMENT IN PARLOUS STATE

Govt-run refiners may not be able to aggressively invest in clean energy projects as they stare at a rough road amid dwindling margins, volatile crude prices, shrinking discounts on Russian oil buys, and an inability to set prices for the fuels they sell

4 mins

Surveys, training camps... Pune goes the extra mile

Concluding part of the five-part fire-safety series focuses on Pune & Pimpri Chinchwad where fire officials are on their toes to spread awareness among citizens, taking cues from Delhi hospital blaze

4 mins

Nine Indian ports among top 100 on Container Port Performance Index

Port As many as nine ports of India have made it to the global top 100 rankings in the latest edition of Container Port Performance Index, an official statement said on Wednesday.

1 min

North India reels from intense heatwave

Swathes of northern and eastern India grappled with punishing heatwave conditions on Wednesday, and a western disturbance may provide much-needed relief, though only marginally, over the next few days, according to the India Meteorological Department.

1 min

Toxic air in India kills 464 children daily

Air pollution continues to be a formidable silent threat, responsible for nearly 464 deaths of children under five in India and 2,000 young lives daily worldwide, according to the latest 'State of Global Air (SOGA) 2024' report.

1 min

Submit number of cases and deaths due to heatstroke daily: Centre to states, UTs

Amid intense heatwave across the country, the health ministry issued an advisory to all states and Union Territories (UTS) to start submitting daily the data on heatstroke cases and deaths, along with total deaths from March 1, 2024 on Integrated Health Information Portal (IHIP) under the National Programme on Climate Change and Human Health (NPCCHH).

1 min

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