Business Standard - August 29, 2024

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August 29, 2024

Govt to set up 12 industrial smart cities in 10 states

PM-led CCEA earmarks ₹28,602 crore for projects

3 mins

'We must raise the bar to impart lifelong learning in B-schools'

Students coming to the workforce should be ready for \"lifelong learning\" as the business environment is changing fast, said Rama Bijapurkar, former board member and visiting faculty at IIM Ahmedabad (IIM-A), here on Wednesday.

5 mins

'With long-term vision, I aimed at creating 3 biz'

Raymond Lifestyle, the newly spun-off entity from the Raymond Group, is set to make its stock market debut soon. This new company will encompass the group's apparel business, a significant segment of the Mumbai-based conglomerate. As Raymond Lifestyle prepares to list on the bourses, GAUTAM SINGHANIA, chairman and managing director of the group, shared his vision and outlook for the company, which is approaching its centennial in 2025. In an interview with Sharleen D'souza and Samie Modak in Mumbai, Singhania says he has laid the groundwork for a promising future. Edited excerpts:

2 mins

Gangwal may divest 3.8% stake in IndiGo via bulk deals for ₹7,100 cr

Co-founder Rakesh Gangwal (pictured) is likely to divest about 3.8 per cent stake in InterGlobe Aviation (IndiGo airline) for about ₹7,100 crore via bulk deals.

1 min

CCI approves $8.5 bn RIL-Disney merger

Reliance Industries' entertainment arm Viacom18 and Walt Disney Co's Indian media assets on Wednesday received competition watchdog Competition Commission of India's (CCI's) approval for their $8.5 billion merger, according to a press release issued by the Press Information Bureau (PIB).

1 min

Adani group proposes to invest $3,500 crore in MP

To set up a cement facility, defence unit, women-operated jacket factory

1 min

Tanishq, De Beers ink pact to add sparkle to diamond mkt

India's largest jeweller Tanishq and South African-British diamond company De Beers Group on Wednesday announced a three-year strategic collaboration to push the sale of natural diamonds in the country.

1 min

BharatPe launches consumer UPI product

Fintech platform BharatPe on Wednesday announced the launch of its UPI TPAP (Unified Payments Interface Third-Party Application Provider) to facilitate consumer digital payments.

1 min

Paytm gets govt nod to invest in its payment services business

Paytm has received the finance ministry's approval to invest in its payment services business, the fintech firm said on Wednesday.

1 min

Need to make internship scheme mandatory

HR experts say important to monitor progress of upskilling schemes; existing partnerships with industry need to be strengthened Mumbai, 28 August M andating India Inc to comply with the Centre's new internship scheme, which aims to skill 10 million youngsters in five years, may lead to better results, said human resources (HR) experts on Wednesday.

4 mins

Tech, new recruits shape evolving HR hiring trends

Need to acquaint large size of pandemic-era hires with company culture driving the change, say executives

3 mins

Kirana vs Q-com on table

Issue of potential threat to local stores from Q-com raised with corporate ministry

2 mins

Wage structure revision for port workers okayed

To impact 20K permanent employees

1 min

RRBs evince interest in going public at meet with FM

Buoyed up by their strong performance, some of the Regional Rural Banks (RRBs) have expressed willingness to go for initial public offerings (IPOs) during their discussion with Finance Minister Nirmala Sitharaman last week.

1 min

PM reviews 'PRAGATI' of key projects

Prime Minister Narendra Modi on Wednesday chaired a PRAGATI meeting to review the progress of seven key projects, spread across 11 states and Union Territories, having a cumulative worth of around ₹76,500 crore, his office said.

1 min

Sitharaman lauds scheme for changing financial landscape

Pradhan Mantri Jan-Dhan Yojana (PMJDY), the largest financial inclusion initiative in the world, integrates the poor into the economic mainstream and plays a crucial role in the development of marginalised communities, Finance Minister Nirmala Sitharaman (pictured) Wednesday.

1 min

'Anti-national' posts may now attract life term in UP

New social media policy includes financial rewards for promoting govt policies

1 min

PMJDY personifies empowerment, dignity: Modi

The Pradhan Mantri JanDhan Yojana (PMJDY) will be strengthened to make India a developed country, said Prime Minister Narendra Modi on Wednesday about a financial inclusion programme that has more than 530 million accounts.

1 min

Protests on the rise in China amid sluggish economy, housing crisis

Country records 18% rise in dissent cases in 2nd quarter of this yr

1 min

Africa's debt crisis has severe implications for the world

After a new tax increase incited weeks of deadly riots in Kenya early this summer, President William Ruto announced that he was reversing course. He abandoned the finance law he had proposed, and then he shook up his cabinet.

1 min

Berkshire Hathaway surpasses $1 trillion in market value

Berkshire Hathaway Inc became the first US company outside of the tech sector to surpass $1 trillion in market value.

1 min

Telegram CEO freed from custody, will appear in court

Are tech execs responsible for what happens on their platforms?

2 mins

Apple cuts 100 jobs as part of priority shift

Apple Inc took the rare step of cutting about 100 jobs in its digital services group, part of a shift in priorities for the critical division, according to people with knowledge of the matter.

1 min

Trade imbalance

India's aspiration to achieve self-reliance and reduce dependence on imports in critical sectors such as electronics, electric vehicles, semiconductors, and machine tools continues to encounter significant obstacles.

2 mins

Promoting FDI from China: Some issues

Assuming that Chinese investments in India will improve trade balance may be simplistic

4 mins

Simplifying GST

Rationalisation should not be delayed

2 mins

Inflation targeting: Defending the status quo

India adopted inflation targeting (IT) in September 2016.

4 mins

Bank, fintech tie-up to boost risk management: RBL CEO

Collaboration between banks and fintechs will enhance innovation, which is necessary for achieving scale and financial stability, said R Subramaniakumar, managing director (MD) & chief executive officer (CEO), RBL Bank.

1 min

RBI recognises FACE as fintech SRO

Chosen from three applications; of the other two, one has been returned and third under examination

2 mins

Sebi seeks RBI help to boost corporate bond repo market participation

The Securities and Exchange Board of India (Sebi) has requested the Reserve Bank of India (RBI) to provide certain approvals to AMC Repo Clearing (ARCL) to facilitate the participation from banks and primary dealers (PDS), Sebi's Executive Director Pramod Rao said.

1 min

UPI transactions may hit 100 bn in 10-15 yrs: Asbe

India's Unified Payments Interface (UPI) has the potential to touch 100 billion transactions in the next 10-15 years but this will come on the back of credit growth, said Dilip Asbe, chief executive officer (CEO) of the National Payments Corporation of India (NPCI).

1 min

'Finternet' is the future of financing system: Nilekani

Terming 'Finternet' as the future of financing systems, Nandan Nilekani, Infosys co-founder and chairman, provided a glimpse into how India's fintech landscape would look like in the near future.

1 min

Market share cap move hindering IPO: PhonePe CEO

Nigam's comment comes as deadline for implementing proposed cap approaches

2 mins

Correction in equity markets could help banks regain deposits: SBI MD

Correction in the equity markets could help banks regain deposits, State Bank of India's managing director Ashwini Kumar Tewari said on Wednesday, while asserting that banks are also driving innovation in order to raise deposits.

1 min

Bridging the language-knowledge gap for a Viksit Bharat by 2047

As we strive towards a \"Viksit Bharat\" by 2047, the pivotal role of languages in shaping the knowledge landscape, especially in the domains of science and technology, cannot be overlooked.

3 mins

Running behind the solar dragon

The contrast is striking - in the first half of 2024, China added over 100 Gw of capacity while India could manage only 14.9 Gw

5 mins

Centre suggests states to conduct night patrols, limit access to hospitals

The Centre on Wednesday asked states to conduct night patrols, security audits of district hospitals and regulate access to big health facilities as part of the measures to prevent violence against medics and ensure their safety.

1 min

Enough is enough: Prez on crimes against women

Bengal CM calls for capital punishment for convicted rapists

2 mins

Sebi proposes overhaul of investment banking norms

10x hike in net worth, more clarity on roles, responsibilities mooted

2 mins

Sebi cautions against 'unrealistic picture' painted by SME promoters

Amid heightened investor interest in listed small and medium enterprises (SMEs), the Securities and Exchange Board of India (Sebi) on Wednesday issued an advisory cautioning investors against taking decisions based on the 'unrealistic picture' painted by promoters.

1 min

Small, midcap indices set to outperform Sensex for 5th mth

The BSE Smallcap and BSE midcap indices are set to outperform the frontline benchmark, the S&P BSE Sensex, for the fifth straight month in FY25.

2 mins

HC slaps ₹80L fine on Sebi, NSE, BSE for illegal freezing of demat accounts

The Bombay High Court has imposed a penalty of ₹80 lakh on the Securities and Exchange Board of India (Sebi), the National Stock Exchange (NSE), and the BSE for the illegal freezing of demat accounts of a Mumbai resident and his non-resident son who were erroneously classified as promoters.

1 min

Nifty hits fresh high for 10th session on the trot

The benchmark Nifty 50 index hit a fresh high on Wednesday by closing higher for the tenth consecutive session, marking its longest winning streak in four years, buoyed by continuing support from institutional investors and optimism of an imminent rate cut by the US Federal Reserve.

1 min

Dispute settled but Zee outlook still uncertain

Intensified competition ahead with Disney-Reliance entity: Analysts

3 mins

1975 to now: The India story

The country had started to turn the corner around the time Business Standard was born. Attention to under-addressed areas can now put it on course to becoming a truly high-growth, 'high-development' economy

5 mins

Ajourney of peril and promise

India at 77 stands as a country that has held its own, showing a remarkable capacity to manage an essentially adversarial external environment

4 mins

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