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Non-tax receipts in sync with revised estimates, says FM

AMID CONCERNS THAT tax collections may fall short of the target, finance minister Nirmala Sitharaman on Tuesday said non-tax revenue receipts so far in the current financial year have been broadly in line with the targets set in the revised estimates (RE).

WPI eases to 2-year low in Feb

WHOLESALE PRICE INFLATION fell to a 25-month low of 3.85% in February thanks to a reduction in input costs as commodity prices fell and a favourable base effect, according to an official data released on Tuesday. This was the ninth straight month of cooling in wholesale price inflation after it hit a multi-decadal high of 16.63% in May 2022.

Rollback of tax on high-value insurance policies unlikely

THE FINANCE MINISTRY is unlikely to review the Budget proposal to tax income from aggregate insurance premium above ₹5 lakh in a year.

Indian startups withdraw up to $300 mn from SVB

WITH THE US allowing depositors to withdraw their cash in full from crisis-hit Silicon Valley Bank (SVB), Indian startups have been able to process fund transfers worth $250300 million in the past 24 hours, industry sources told FE. On an average, early-stage startups had cash balances of up to $2-3 million in US bank accounts, while larger startups had cash of around $20-25 million lying in SVB accounts, several founders and VCs said.

Meta to cut 10,000 jobs in second round of layoffs

FACEBOOK PARENT META Platforms said on Tuesday it would cut 10,000 jobs this year, making it the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn.

Biden Vows To Hold Banks Accountable, Urges Stronger Rules

The president said all customers who had deposits at both banks can “rest assured they’ll be protected and they’ll have access to their money as of today.”

On superfast reforms track but some see speed bumps

ONE YEAR OF IRDAI CHAIRMAN DEBASISH PANDA

Paytm disbursements up threefold in Jan-Feb

NO. OF LOANS INCREASE 94%

Xi to build military into 'Great Wall of steel'

\"Security is the bedrock of development, while stability is a prerequisite for prosperity,\" Xi said.

Pfizer to buy cancer drugmaker Seagen in $43-billion deal

Seagen is a leader in developing a type of medicine called antibody-drug conjugates, or ADCs.

SVB collapse: US acts to shore up banking system confidence

After a dramatic weekend, US regulators said the failed bank’s customers will have access to all their deposits starting Monday and regulators set up a new facility to give banks access to emergency funds.

Firms still facing hurdles in deploying 5G infra: DIPA

The telecom infrastructure providers are still facing hurdles in faster infrastructure deployment of 5G with issues pertaining to Discoms not following the 5G rollout policy in alignment with the State Central RoW Policy, facility for bulk RoW permission since no of such poles, which may be used for 5G cell deployment may be in thousands.

Koo brings ChatGPT to help users create posts

India's microblogging platform Koo on Monday announced that it has launched a new feature to enable creators to compose and draft posts using ChatGPT.

Higher pension: EPFO trust members flag 'confusion'

Call for detailed guidelines on the new option

Exports to cross $750 bn this fiscal: Goyal

Goyal said that last year the exports reached an all-time high of $676 billion.

Returns update: ₹1,250 crore collected as taxes

CBDT takes up 68,000 cases for e-verification

Govt seeks House nod for net additional spend of ₹1.48 trn

No big slippage seen from fiscal deficit target of 6.4%

Family offices keen to go overseas but await clarity

The last few months have seen a significant uptick in enquiries from wealthy Indians wanting to set up family offices abroad, but other than the clarity from RBI on rules, a number of other hurdles remain, said people in the know.

Hyundai takes Talegaon road to widen lead over rival Tata

HMIL on Monday said that it has signed a term sheet for the potential acquisition of GM India's Talegaon plant assets, including land, buildings, certain machinery and manufacturing equipment.

CPI inflation sticky at 6.44% in Feb; April rate hike near certain

Official data released on Monday revealed that retail inflation stood at 6.44% in February against 6.52% in January.

Fed's SVB balm fails to soothe markets

Bank stocks lead fall in Indian benchmarks

Adani pre-pays debt totalling $2.65 bn

$2.6 BN INFUSED INTO AMBUJA, ACC

Govt to infuse more capital into PSU general insurers next year

The government may have to infuse more capital in the three public sector general insurance companies to improve their financial health, a senior government official said.

Markets to remain volatile on global headwinds

Indian equity markets posted negative returns for the third month in a row in February.

Varun Beverages: Stage set for another strong year

Raw material prices and focus on 'Sting' brand to improve profitability

Titan to aggressively combat competition

In near future, gold rate premium in different regions to be limited

Bharti Airtel: 13% ARPU growth by FY25

Market share gains are likely to accelerate amid 5G rollouts

Startups find routes to ensure capital, salaries remain intact

DEPOSITS STUCK IN SILICON VALLEY BANK

Internal person expected to be new LIC chief

Current LIC chief MR Kumar’s tenure ends on March 13.

Inter-state agri trade on e-NAM finally gathers pace

Turnover seen at ₹70,000 cr in FY23, up 40% on year