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ID proof not must for 2,000 note exchange at banks

Banks will not demand any identity proof for the exchange of $2,000 banknotes, and there is no cap on the number of times one could get this done in a day, an official familiar with the procedure banks will follow said.

Firms rein in price hikes as costs cool

High costs of everyday goods have taken a toll on demand

'Generative AI can be seen; it's more cool than traditional AI'

As global chief technology officer of Evalueserve, Rigvinath Chevala leads all technology teams at the analytics firm, and serves on its executive leadership panel.

JSW Steel Q4 profit up 12%

JSW Steel Ltd on Friday reported a good fourth quarter, riding on rising steel realisations and production, and declining energy costs.

PNB's standalone profit jumps 477%; asset quality improves

State-owned lender PunS jab National Bank (PNB) recorded a 477% jump in standalone net profit for the March quarter, demonstrating robust growth. The bank's net profit was at ₹1,159 crore compared to ₹201 crore in the year-ago period.

Zomato narrows loss by nearly half in March quarter

Homegrown food delivery platform Zomato narrowed its net losses for the quarter ended 31 March by around 48% to ₹188.2 crore compared to a loss of ₹359.7 crore in the year-ago following a surge in total revenue.

Byju's lenders sue to take reins of US arm

Byju's lenders have taken legal action against the edtech behemoth, seeking control over the operations of US subsidiary, Byju's Alpha, alleging that it had transferred a sum of $500 million out of the subsidiary.

Tesla revives import duty talks with India

Over a year ago, talks on lowering duties for EVs had hit a roadblock

Siemens sells geared motor biz to parent for ₹2,200 cr

Siemens Ltd's board has approved the divestiture s geared motors and low voltage business, including related customer service operations, to Siemens Large Drives India Pvt Ltd, a wholly-owned subsidiary of Siemens AG. The transaction is valued at ₹2,200 crore, according to a company statement on Friday.

RBI dividend hits ₹87,416 cr, 82% above budget estimate

Central bank's board also decided to raise contingency risk buffer to 6% from last year's 5.5%

BGMI's return may spur investments, gaming prize money

The gaming industry has welcomed the return of Battlegrounds Mobile India (BGMI), a mobile game that was banned by the government in July last year.

Tata Motors loses tender, SC rejects appeal against BEST

The Supreme Court on Friday dismissed a plea by Tata Motors challenging a decision by the Brihanmumbai Electric Supply and Transport (BEST), Mumbai's civic transport body, to disqualify it from a 2022 tender for 2,100 electric buses on \"arbitrary grounds\".

NCLT rejects plea against Zee

In a significant relief to broadcaster Zee Entertainment Enterprises, the Mumbai bench of the National Company Law Tribunal (NCLT) on Friday rejected an insolvency petition filed against it by IDBI Bank.

'Not proven' at this stage: SC panel on Adani-Hindenburg

The panel said its conclusions are based on the \"prima facie position\" of Sebi

The new KNMA as a cultural destination

The museum and cultural centre, set to open in 2026, will offer a confluence of diverse art forms

Major tax relief: Forex payments up to ₹7 lakh exempt

The finance ministry on Friday said that forex payments through debit and credit cards up to ₹7 lakh would be exempted from the liberalized remittance scheme (LRS) and will not attract tax collected at source (TCS) from 1 July, in a major relief to Indians making purchases, such as foreign newspaper subscriptions.

₹2,000 notes pulled ahead of elections

People holding the notes have until 30 Sep to exchange them

20% Tax On Credit Card Spend During Overseas Travel

Starting 1 July, a 20% tax collected at source (TCS) will be levied on overseas credit card expenses of Indians, barring such expenditure on education or medical treatment-related visits, which will be subject to a lower rate, the finance ministry clarified on amendments to the foreign exchange management rules issued earlier this week.

India Data Centres May See $23bn Investments By 2033: Avendus

India may see investments of up to $23 billion for capex on data centres as an infrastructure asset over the next 10 years, driven by the exponential increase in data consumption, storage, governmental thrust on data localisation, and the need for high bandwidth, following the launch of 5G.

US, Allies In Japan With An Eye On Russia, China

G7 concerned by China's economic coercion and Russia's nuclear threats

Hinduja patriarch's death brings $14 bn feud to light

Question over who will assume SP Hinduja's role may crack open divisions

Rooms portfolio to power Airbnb growth

Airbnb, the American home and apartment rental platform, is now focusing more on its rooms portfolio in India as it enters its next phase of growth.

Sebi may tighten definition of price-sensitive information

Markets regulator Securities and Exchange Board of India (Sebi) on Thursday proposed to tighten the definition of unpublished price-sensitive information (UPSI) after it observed many listed companies were not following the law in spirit.

SBI party may cool after Q4 thrill

Public sector lender State P Bank of India Ltd (SBI) closed FY23 on a high, beating expectations on key parameters for the quarter ended 31 March (Q4FY23).

Swiggy food biz turns profitable in Mar: CEO

Sharp focus on innovation coupled with strong execution helped the firm

Just 150 km off Mumbai, women, kids trek miles for water in summer

Women and children in a hamlet near India's financial capital used buckets to draw water from a well before pouring it through strainers into vessels and other receptacles for the journey home.

India to import 9 mn barrel of oil for its strategic reserve

India is considering refilling its strategic hoard of crude oil, joining the US as the world's top guzzler begins to rebuild its depleted stockpiles after a period of drawdown.

Highway boom ignites roadside retail revolution in India

Improved highways are fuelling growth in consumer goods and foods sectors, as an uptick in work-related or leisure travel is made possible by expanding connectivity to previously inaccessible regions and increasing car ownership, unlocking untapped markets.

Indian family offices weigh Gift City to invest overseas

Some of India’s leading family offices are exploring the option of setting up shop at the International Financial Services Centre (IFSC) or Gift City as the Reserve Bank of India (RBI) tightens scrutiny of overseas direct investments (ODI). ODI is a route available for Indian non-individuals to send money overseas.

Siddaramaiah Karnataka's next CM; Shivakumar deputy: Cong

A meeting of the Congress Legislature Party A (CLP) on Thursday formally elected Siddaramaiah as its leader and chief minister of Karnataka, following which he staked his claim with the Governor, who invited him to form the government.