CATEGORIES

FinMin may end windfall tax as oil prices stabilise

The Ministry of Finance is reconsidering the windfall tax on the export of petrol, diesel, and aviation turbine fuel (ATF) as global crude oil prices have stabilised, a senior government official said.

Sugar co-ops defend labour practices amid allegations

Sugar cooperatives, which accounted for almost 30 percent of India's annual sugar output as of 2023-24 season (Oct-Sept), are up in arms against repeated attempts to raise the issue of labour exploitation in their factories and farms, alleging that it is a ploy to divert customers from cooperatives to others.

GST fitment panel to review 18% tax on co-lending services

The Fitment Committee of the Goods and Services Tax (GST) Council is set to review the 18 per cent GST on co-lending services, following a report submitted by the SBI-led committee on co-lending.

Trump is India's friend, no issues ahead: Goyal

Union Commerce and Industry Minister Piyush Goyal on Thursday said India was looking forward to start talks with the new administration in the United States under Donald Trump, who the minister said was a \"friend of India\" and the country's ties with the US were only getting better with time.

Manufacturing underperformed due to rise in multi-plants

Former chief economic advisor (CEA) Arvind Subramanian in his latest paper on Thursday highlighted the underperformance of the Indian manufacturing sector due to the rise in multi-plants, where a firm sets up multiple production facilities within a state.

Deposit growth edges credit with 11.21% rise

Deposits stand at ₹218.54 trn, credit at ₹173.62 trn

₹ hits fresh intraday low of 84.52 against $

RBI intervention in forex mkt helps rupee recoup losses

12% cap on contribution to EPS may be removed

In a bid to enable subscribers with basic pay up to ₹15,000 to earn a higher pension and build a bigger corpus, the Employees' Provident Fund Organisation (EPFO) is considering doing away with the 12 per cent ceiling that is currently applicable on members' contribution to the Employee Pension Scheme (EPS), while keeping the employer's share of 12 per cent unchanged, official sources familiar with the development said.

'We open 65,000 savings accounts a day'

CHALLA SREENIVASULU SETTY, who took charge as chairman of State Bank of India (SBI) in August, says the conversion of net profit from operating profit is moving towards 70 per cent, which indicates culmination of efforts from all fronts. In an interview with Manojit Saha and Abhijit Lele in Mumbai, he says SBI is comfortable with liquidity with the overall credit-deposit (CD) ratio at a modest 68 per cent and the aim is to maintain the incremental CD ratio at 100 per cent. Edited excerpts:

4 mins |

Skill-based courses create job-ready grads: Coursera report

As many as 95 per cent of higher education leaders in India agree that micro-credentials strengthen students' career outcomes, indicating a shift towards skill-based education, said a recent report by edtech platform Coursera.

No plans at the moment to list GEG companies

In an interview with Jaden Mathew, Sharleen D'Souza, and Dev Chatterjee in Mumbai, GEG Chairman and Managing Director JAMSHYD GODREJ, and Executive Director NYRIKA HOLKAR say there is a shift in terms of R&D towards the fit, feel, finish, and the aesthetic aspect of products

CarDekho net revenue jumped 54% in FY24

CarDekho Group, the auto-tech and fintech solution provider, recorded a net revenue of ₹2,074 crore in FY24, a 54 per cent growth year-over-year from ₹1,347 crores in FY23.

RIL subsidiary takes stake in Wavetech Helium for $12 mn

A US subsidiary of Reliance Industries (RIL) has picked up a 21 per cent stake in US-based Wavetech Helium, Inc. (WHI), marking the oil-to-telecom conglomerate's expansion in the helium segment which has a significantly lower carbon footprint.

Telcos call for prompt notification of guidelines to curb spam calls

Telecom operators have urged the Department of Consumer Affairs (DoCA) to promptly notify the draft guidelines aimed at preventing spam calls and messages.

Abu Dhabi fund, Lanka port body back Adani

Abu Dhabi's International Holding Company (IHC), one of the largest sovereign funds that manages assets close to $100 billion, has reaffirmed its support to the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate's founder chairman Gautam Adani.

Supply chain spoke in Audi India's 2024 growth wheel

Automaker struggles to meet customer expectations despite strong demand

Nazara Tech raises ₹855 cr via preferential issue to fuel expansion

India's only listed gaming company Nazara Technologies has raised ₹855 crore ($101 million) via a preferential issue, which saw participation from SBI Innovative Opportunities Fund, Junomoneta Finsol, and Think India Opportunities Master Fund LP, among others.

Leverage for primary steel cos may reach five-year high

High debt to impact financial metrics in FY25, says CRISIL

India will have more than two major airlines: A-I CEO

Tata group's airlines to add 100 planes to fleet by 2027, says Campbell Wilson

AI democratising discovery ecosystem: Meta

Artificial intelligence (AI) is making the discovery ecosystem on Meta platforms further democratised, according to Arun Srinivas, director and head (India), Ad Business, Meta.

PMJAY for 70+ group meets 3% of target in first month

In September, the Union government announced the fine print of the much-awaited Ayushman Bharat 2.0 scheme that aims to cover everyone over the age of 70 years irrespective of income level.

CCI orders probe into Google's Play Store policies

The Competition Commission of India (CCI) on Thursday ordered a detailed investigation into Google in connection to a complaint filed by Winzo Games for alleged unfair business practices with respect to listing of real money gaming apps on Play Store.

Centre charts course for broader ship ownership

Building on the Centre's Budget announcement this year to increase India's share in ship owning and shipbuilding, the Ministry of Ports, Shipping and Waterways is looking to overhaul the domestic maritime space by introducing four pieces of legislation.

Land never an issue for Godrej family biz split

After the family settlement signed in April this year, Godrej Enterprises Group (GEG) unveiled its brand logo on Thursday. In an interview to Jaden Mathew Paul, Sharleen D'Souza, and Dev Chatterjee in Mumbai, GEG Chairman and Managing Director JAMSHYD GODREJ and Executive Director NYRIKA HOLKAR talk about the company's future investment plans.

SBI's business may hit ₹100 tn in FY26: Setty

Sets three-year horizon for achieving net profit of ₹1 tn per annum

Architecture, the new doctor in the recovery room

From skylights to healing gardens, hospitals are embracing design elements that accelerate healing and enhance patient well-being

IIT-K's stealth tech to make jets invisible to enemy radar

High-technology cooperation between indigenous defence industry and academia has begun yielding results.

India to be wrapped in 175 years of Christy luxury

One of the world's oldest towel brands, famed for its royal heritage, is set to enter the Indian market in 2025

Insurance Amendment Act to boost growth, promote inclusion

It has been a quarter of a century since the insurance industry was liberalised. At the 'Business Standard BFSI Insight Summit, 2024', ALOK RUNGTA, managing director and chief executive officer (MD & CEO) of Future Generali India Life Insurance, SHARAD MATHUR, MD & CEO of Universal Sompo General Insurance, SUMIT BOHRA, president of IBAI and CEO of GlobeSecure Insurance Brokers, and MAYANK BATHWAL, CEO of Aditya Birla Health Insurance, discussed what is next for the industry. Edited excerpts:

6 mins |