Business Standard - September 07, 2024

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September 07, 2024

'One State, One RRB' policy on govt's table

The Union Ministry of Finance is planning to consolidate the Regional Rural Banks (RRBs) under a policy of \"One State, One RRB\" to improve their efficiency and avoid undue competition among sponsoring public sector banks.

2 mins

Mkts snap 3-week winning streak on weak global cues

Benchmarks fall 1.2% each, investors lose ₹5.49 trn

1 min

Air India's low-cost airline flies into red

Air India Express in FY24 incurred a loss for a second time in past nine years

2 mins

Protests take a bite out of retail, F&B businesses ahead of Durga Puja

It's a scene unfamiliar to New Market.

5 mins

Chandra's remuneration went up by 20% in FY24

Tata Sons directors got 16% hike, employee cost rose 2.5%

2 mins

Companies to roll out ₹1.2 trillion EV, chip projects in Maharashtra

As Maharashtra heads for Assembly elections later this year, the government on Friday approved projects worth ₹1.2 trillion that are set to create over 14,800 jobs in the state.

1 min

Low discount may not drive old vehicles to scrap yard

The recent discount by automobile makers for vehicle scrapping may not be enough to lure customers.

3 mins

Investment worth $30 billion likely in semicon space in 4 yrs

This is about 6% of new investment in the sector globally

2 mins

'Retail closure to focus on core cigarette biz'

Cigarette maker Godfrey Phillips India Ltd (GPI) Chairperson Bina Modi (pictured) on Friday defended the company's decision to close its retail business '24Seven', the brainchild of her estranged son Samir Modi, saying it was done with a view to focus on its core business.

1 min

India now 2nd largest 5G smartphone mkt

China tops the charts with 32% share: Report

1 min

Reliance Infra weighs EV push, taps ex-BYD executive

Reliance Infrastructure is considering plans to manufacture electric cars and batteries, and has hired a former India executive at China's BYD Co to advise on its plans, two sources briefed on the matter told Reuters.

1 min

Unicorn India Ventures looks to become cross-border fund

Venture capital firm Unicorn India Ventures (UIV) is working towards becoming a cross-border venture firm, Founder and Managing Partner Bhaskar Majumdar said.

1 min

HUL to evaluate its ice-cream business

Hindustan Unilever (HUL) on Friday decided at its board meeting to constitute a committee of independent directors to evaluate the prospects of the company's ice cream business.

1 min

RBI seen warming up for a neutral shift in stance

With concern on food inflation ebbing with the monsoon progressing well, the Reserve Bank of India (RBI) is warming up to the idea of a change in stance to \"neutral\" from \"withdrawal of accommodation\", according to economists.

3 mins

'IMEC to cut logistics costs, boost maritime security'

The proposed India-Middle East-Europe Economic Corridor (IMEC) will add to India's maritime security and reduce the country's reliance on a few trade routes, Union Commerce and Industry Minister Piyush Goyal said on Friday.

1 min

FAME-III may see vehicles sporting govt subsidy branding

Move aims to highlight Centre's electric mobility schemes and ensure greater transparency

3 mins

Forex kitty swells to record $684 bn

The country's forex reserves jumped by $2.299 billion to a new high of $683.987 billion for the week ended on August 30, according to the Reserve Bank of India (RBI) data release on Friday.

1 min

GTRI flags risk of India becoming EV colony of China

The government should allow the domestic electric vehicle sector to grow naturally without relying on incentives as it would avoid India becoming an 'EV colony' for China, think tank Global Trade Research Initiative (GTRI) said on Friday.

1 min

After UPI and ULI, banks to set up Unified Recovery Interface

Eyeing benefits from digital banking, lenders are now looking at building Unified Recovery Interface (URI) for enhancing efficiency, reducing costs, and getting good prices for properties of defaulters.

1 min

Authorities may have upper hand in GST levy

In the recent debate between realty companies and tax authorities around demand for Goods the and Services Tax (GST) on transfer of leasehold land, the latter may have a stronger case.

2 mins

Vaishnaw discusses rlys, IT on Japan visit

Union minister Ashwini Vaishnaw (pictured) discussed further enhancing cooperation with Japan in the field of railways, innovation in the digital landscape and focusing on futuristic technological advancements during his visit to Tokyo.

1 min

Nabfid MD says infra loan losses low, questions RBI's 5% provision proposal

Infra financier Nabfid's Managing Director Rajkiran Rai on Friday questioned the Reserve Bank of India (RBI) proposal to make lenders set aside 5 per cent on under-construction projects, saying the reverses on such loans are very low.

1 min

Main accused in Kolkata rape-murder case sent to judicial remand till Sep 20

A Kolkata court on Friday rejected the bail prayer of Sanjoy Roy, the prime accused in the rape and murder of a woman medic in a state-run hospital, and remanded him to judicial custody for 14 days till September 20.

1 min

₹18,000 to women heads of family in BJP J&K manifesto

Party vows to create 500,000 job opportunities, conduct free and fair census

2 mins

Phogat to fight from Haryana's Julana seat on Congress ticket

Olympians Vinesh Phogat and Bajrang Punia, who were at the forefront of the wrestlers' protest against then Wrestling Federation of India chief and former Bharatiya Janata Party MP Brij Bhushan Sharan Singh, entered the political arena on Friday by joining the Congress.

1 min

BSF asks Bangladesh border guards to stop infiltration into India

The Border Security Force (BSF) has asked its Bangladeshi counterpart, Border Guard Bangladesh (BGB), to \"prevent\" citizens of the neighbouring country from illegally entering India in the wake of the Sheikh Hasina government's fall in August, the force said on Friday.

1 min

Seven&i rejects $39 billion buyout proposal

Koh Yoshida, 6 September Seven & i Holdings Co.rejected a $39 billion takeover proposal from Alimentation Couche-Tard Inc. as too low and fraught with regulatory risk, while signaling a willingness to consider a sweetened offer.

1 min

Qualcomm explores acquiring part of Intel chip design business

Qualcomm has explored the possibility of acquiring portions of Intel's design business to boost the company's product portfolio, according to two sources familiar with the matter.

1 min

US jobless rate drops to 4.2%

142,000 jobs added in Aug, missing estimates; data fuels debate over quantum of Fed rate cut

1 min

BofA accused of sharing non-public information: WSJ

A whistleblower complaint has alleged that Bank of America shared non-public information with some investors before it sold roughly $200 million worth of stock for some clients in India, the Wall Street Journal reported on Thursday.

1 min

Japan tries to reclaim its clout as global tech leader

China's envy-inducing success in using industrial policy to expand its economy and finance green manufacturing has helped kick off a fevered scrimmage among nations to develop and protect their own hometown businesses.

3 mins

We, the prickly people

You can still put words in Indira Gandhi's mouth and get away with it. But if you garnish your pretence of fact with so much fiction, you might end up messing with Bhindranwale

5 mins

What a Trump victory would mean for the US economy

The US presidential election in November is critical for many reasons.

3 mins

Friendless in the neighbourhood

The ignominious end to Sheikh Hasina's long tenure as Bangladesh's Prime Minister has left the country's future uncertain.

3 mins

Havells'valuation factors in gains from demand, expansion

The consumer durables sector has seen buoyant demand in August after a slowdown in July.

2 mins

Congress fires fresh salvo at Sebi chief over rental income

The Congress on Friday levelled fresh allegations against chairperson of the Securities and Exchange Board of India (Sebi) Madhabi Puri Buch, claiming that she received rental income from an entity affiliated with a company the market regulator was probing for various violations, including insider trading.

1 min

As Sebi deadline looms, FPIs seek extension to liquidate assets

Deadline to not have holdings beyond specified thresholds ends on Monday

2 mins

SBI, Vi and Indus stocks tank after Goldman Sachs 'sell' call

Airtel outperforms as the US-based brokerage reiterates 'buy', increases target price

2 mins

Festival season may not add zing to portfolios

Expect little action in auto stocks in months ahead: Analysts

2 mins

IT JUST AIN'T CRICKET

Why cricketers and other sportspersons, unlike film stars, do not win much in the political arena

6 mins

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