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Business Standard

RBI approves Tata Cap-TMFL merger

The Reserve Bank of India (RBI) has approved the merger of Tata Capital, an unlisted entity, with Tata Motors Finance (TMFL), paving the way for the formation of India's 12th largest non-banking finance company.

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1 min  |
October 15, 2024
FPI investment in debt sees change of fortune in Oct
Business Standard

FPI investment in debt sees change of fortune in Oct

₹2,798 cr of sales so far in Oct; 1st net outflow since April

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1 min  |
October 15, 2024
NEW BANDHAN CEO TO TAKE OVER IN NOVEMBER: Derisking loans may be first order of business
Business Standard

NEW BANDHAN CEO TO TAKE OVER IN NOVEMBER: Derisking loans may be first order of business

Partha Pratim Sengupta, who will take charge as managing director and chief executive officer (MD and CEO) of Bandhan Bank in early November, has his task cut out.

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3 mins  |
October 15, 2024
FM: Internship scheme looks to bridge gap in employability
Business Standard

FM: Internship scheme looks to bridge gap in employability

The Prime Minister Internship Scheme is aimed at bridging the employability gap for students coming fresh out of college, Finance Minister Nirmala Sitharaman said on Monday.

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1 min  |
October 15, 2024
GST compensation cess to be discussed at GoM meeting
Business Standard

GST compensation cess to be discussed at GoM meeting

A 10-member Group of Ministers (GoM) led by Minister of State for Finance Pankaj Chaudhary is set to meet for the first time on Wednesday to discuss the future of GST compensation cess after the loan repayment period ends in March 2026, according to multiple sources familiar with the matter.

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1 min  |
October 15, 2024
Retail inflation rises to 5.49%, highest in CY24
Business Standard

Retail inflation rises to 5.49%, highest in CY24

Higher food prices, fading base effect behind surge; WPI inflation rises, too

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2 mins  |
October 15, 2024
‘RBI policy of not allowing crypto is a good approach'
Business Standard

‘RBI policy of not allowing crypto is a good approach'

India needs to improve on reducing regional inequalities and invest in human capital in order to become a developed country by 2047, AMIYATOSH PURNANANDAM, economist, University of Michigan, says in an interview with Ruchika Chitravanshi in New Delhi. He adds that the government needs to incentivise good long-term risk taking by banks to push private investment. Edited excerpts:

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3 mins  |
October 15, 2024
Business Standard

Voltas, Daikin among 38 white goods PLI bidders

As many as 38 companies, including Voltas, Daikin, Orient, and Blue Star, have applied for production-linked incentive (PLI) for white goods after the government reopened the application window for the scheme for the third time.

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1 min  |
October 15, 2024
Business Standard

GAMES OF SKILL VS CHANCE - Framework looks to clarify difference

Will be sent to Meity for feedback to be added to 2nd draft

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1 min  |
October 15, 2024
India still lags US, China in 5G rollout
Business Standard

India still lags US, China in 5G rollout

India's journey with 5G still has a long way to go. The country ranked 33 out of 39 in the 5G Connectivity Index for the second quarter of 2024, released by GSMA Intelligence. However, in areas like 5G revenue growth, data affordability, and video quality, India ranks among the best in the world.

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1 min  |
October 15, 2024
Retail net up5% at 2.9K cr; flagged weak growth in fashion, lifestyle
Business Standard

Retail net up5% at 2.9K cr; flagged weak growth in fashion, lifestyle

Reliance Retail Ventures on Monday reported a 5.2 per cent rise in net profit at 2,935 crore in the September quarter of 2024-25 (Q2FY25).

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1 min  |
October 15, 2024
Higher tariffs see Jio profit at ₹6.5K cr
Business Standard

Higher tariffs see Jio profit at ₹6.5K cr

Jio Platforms Ltd (JPL), which runs the country's largest mobile network operator Reliance Jio, on Monday reported a sharp 23.4 per cent year-on-year (Y-o-Y) increase in net profit to ₹6,539 crore for the second quarter (July-September) of FY25.

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2 mins  |
October 15, 2024
Where will dogs go?' What Ratan Tata asked Chandra on Bombay House refit
Business Standard

Where will dogs go?' What Ratan Tata asked Chandra on Bombay House refit

Late Ratan Tata always ensured employees are taken care of along with the well-being of their families across the Tata group companies, which shaped a number of leaders across the conglomerate, and there really was no one like him, Tata Sons Chairman N Chandrasekaran said on Monday.

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1 min  |
October 15, 2024
Ericsson bags multibillion $ 5G contract from Airtel
Business Standard

Ericsson bags multibillion $ 5G contract from Airtel

Swedish telecom gear maker Ericsson has received a multi-billion dollar contract from Bharti Airtel for selling 5G equipment, two sources familiar with the matter said.

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1 min  |
October 15, 2024
India Inc biggies set to invest $800 billion in a decade
Business Standard

India Inc biggies set to invest $800 billion in a decade

S&P report also flags execution risk, and borrowing heavily for tech with unproven commercial payoff, such as green H2

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1 min  |
October 15, 2024
SC revives Adani's ₹27K cr plan for KSK Mahanadi resolution
Business Standard

SC revives Adani's ₹27K cr plan for KSK Mahanadi resolution

The Supreme Court (SC) on Monday revived the insolvency resolution process against 1,800-Mw KSK Mahanadi project (KMP) by setting aside the Telangana High Court's (HC) order that deferred the insolvency process.

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1 min  |
October 15, 2024
PV sales growth likely to be below 5% in FY25: Siam
Business Standard

PV sales growth likely to be below 5% in FY25: Siam

The flat sales of passenger vehicles (PVs) in the first half of 2024-25 came as a \"slight surprise\" for the automobile industry, but it is expecting a rebound in the second half due to the festival season, Shailesh Chandra, President, Society of Indian Automobile Manufacturers (Siam), said on Monday.

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2 mins  |
October 15, 2024
HCLTech improves guidance slightly after earnings beat
Business Standard

HCLTech improves guidance slightly after earnings beat

HCLTech, India's third-largest IT services company, has raised the lower end of its FY25 revenue growth guidance by 50 basis points, bolstered by increased client spending. The Noida-headquartered firm is now estimating revenue growth between 3.5 per cent and 5 per cent.

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1 min  |
October 15, 2024
Over-reliance on AI poses financial stability risks: Das
Business Standard

Over-reliance on AI poses financial stability risks: Das

Reserve Bank of India (RBI) Governor Shaktikanta Das (pictured) on Monday warned that while artificial intelligence (AI) and machine learning (ML) have opened new avenues for business and profit expansion in the financial sector, over-reliance on these technologies could pose risks to financial stability.

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2 mins  |
October 15, 2024
Oyo may raise $200 mn at 2x valuation of $5 bn
Business Standard

Oyo may raise $200 mn at 2x valuation of $5 bn

Fundraise to help it take over budget hotel chain Motel 6

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2 mins  |
October 15, 2024
RIL profit slips 5% in Q2 on weak fuel biz
Business Standard

RIL profit slips 5% in Q2 on weak fuel biz

Declines for third quarter in a row; misses Street estimates again

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2 mins  |
October 15, 2024
Ratan Tata: An Environmentalist's Homage
Business Standard

Ratan Tata: An Environmentalist's Homage

Our first interaction with the late Ratan Tata was not pleasant. Delhi was choking with pollution, and our campaign on the right to clean air had been launched. Diesel was a fuel that was being indicted for emissions of tiny particulate matter PM2.5. This all was new in the mid-1990s, as science was discovering how fuel and vehicle quality, when improved, would lead to an unexpected outcome of smaller particulates, which could go deep into our lungs. So, my late colleague Anil Agarwal and I wrote about the dangers of diesel. And we promptly got a defamation notice of some consequent sum of money from Tata Motors. That was when Ratan Tata had just launched his car enterprise. It was riding on the change of fuel - diesel, which would give his company an edge over the petrol variants of Maruti Suzuki and others. We were not the kind to back down. Nor was he. It was a messy battle in the highest court of the country.

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3 mins  |
October 14, 2024
PRIME MINISTER INTERNSHIP SCHEME: Over 155,000 apply within a day
Business Standard

PRIME MINISTER INTERNSHIP SCHEME: Over 155,000 apply within a day

Shortlist of candidates identified by Al to be shared with firms on Oct 15

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2 mins  |
October 14, 2024
Music in streaming series hits the right note
Business Standard

Music in streaming series hits the right note

Indians first saw streaming video on YouTube in 2008. Disney+ Hotstar arrived in 2015. However, streaming shows and films truly took off only after the entry of Netflix and Amazon Prime Video in 2016. From almost nothing, the market has grown to ₹31,000 crore in advertising and pay revenue by 2023. Currently, over 524 million Indians watch streaming video, according to Comscore data. This growth is creating several opportunities and raising some challenging questions for other parts of the entertainment ecosystem.

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3 mins  |
October 14, 2024
Business Standard

Vendor in Somalia, account in Dubai: ISA traces cybercrime incidents

In two incidents of cybercrime in a month, India's first global outreach body International Solar Alliance (ISA) has claimed to have lost ₹3 crore when a payment to its Somalia-based vendor was found to be diverted to an imposter account, prompting the organisation to file a police complaint and issue show-cause notice to a section of its staff suspected to be involved in the incident.

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2 mins  |
October 14, 2024
PSU defaults and moral hazards
Business Standard

PSU defaults and moral hazards

How long will the banking system bank on government ownership?

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4 mins  |
October 14, 2024
SHOP TALK
Business Standard

SHOP TALK

Can Reliance Retail double turnover in 3-4 years, as Isha Ambani says it will?

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4 mins  |
October 14, 2024
Use prepaid forex card abroad to avoid currency fluctuations
Business Standard

Use prepaid forex card abroad to avoid currency fluctuations

Pay in local currency instead of Indian rupees to circumvent dynamic currency conversion

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3 mins  |
October 14, 2024
Pension delayed? File a consumer complaint
Business Standard

Pension delayed? File a consumer complaint

Qazi Muhammad Ateeq was an employee of the Union Bank of India. He was compulsorily retired on May 16, 2011, but his pension benefit was inordinately delayed. Finally, an amount of ₹15,40,000 was paid on September 10, 2014.

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2 mins  |
October 14, 2024
Business Standard

Sharpened focus that cuts through noise to find value

FULL SPEED AHEAD: PEERS, BENCHMARKS IN THE REARVIEW

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2 mins  |
October 14, 2024