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Food items and textiles top manufacturing employers

Of the total 29 major industrial groups covered under the Annual Survey of Industries (ASI) - 'food products', which involves preserving and processing of meat, fish, crustaceans, fruits, vegetables, and dairy products among others, has the highest number of operational factories (40,508) and engaged the most significant number of people (2.1 million) in the organised manufacturing sector in the financial year 2022-2023 (FY23), showed findings from the latest ASI results released by the National Statistical Organisation (NSO).

FPIs pull out ₹58,711 crore in Oct so far

Foreign investors turned net sellers in October, withdrawing shares worth ₹58,711 crore in the month so far owing to escalating conflict between Israel and Iran, a sharp rise in crude oil prices, and the strong performance of the Chinese market. The outflow came following a nine-month high investment of ₹57,724 crore in September.

Helpful amendments, court decisions for exporters

Exporters have good news. The government has issued necessary notification omitting Rule 89(4A), Rule 89(4B), and Rule 96(10) from the Central Goods and Services Tax Rules, 2017 (CGST Rules). Two useful decisions have also come in from the courts.

Upper limit for LIC's new endowment plan reduced to 50 years

State-owned Life Insurance Corporation of India (LIC) has revised the upper limit for purchasing its new endowment plan from 55 years to 50 years, according to a communication reviewed by Business Standard. The revision is effective October 1, 2024.

Govt may disband unit tracking pre-GST evasion

DGGI expects to complete investigation in all such cases by March

Glenmark arm recalls products in US

Drug firm Glenmark is recalling two products in the US due to manufacturing issues, according to the US Food and Drug Administration (USFDA).

Lower input costs may aid pharma firms' Q2 margins

Analysts expect overall sales growth to be 10-11%

Drop in airfares on major routes lights up Diwali for customers

15% decline in oil prices may have contributed to lower ticket prices

Navi becomes 5th largest UPI player

Sachin Bansal-owned fintech firm Navi became India's fifth-largest player in UPI ecosystem in September, clocking 120.41 million transactions amounting to ₹6,549.1 crore, according to the National Payments Corporation of India (NPCI).

Women bring home the sales, delivering festival wins for e-com firms

India's e-commerce industry is increasingly creating opportunities for women, hiring them in large numbers this festival season to cater to the surge in sales.

Indians eyeing offshore firms to gain access: JM Financial

Healthcare, pharma to drive M&As in coming qtrs

CCPA tells Ola to give refund options to customers

The Central Consumer Protection Authority (CCPA) on Sunday directed ride-hailing service provider Ola Cabs to provide a clear choice to consumers to opt between a bank account transfer or a coupon when they seek refund during the grievance redressal process.

Collateral anchor: Fintech cos steer towards secured lending

This comes after RBI raised risk weights on unsecured personal loans

Reliance seeks govt intervention for fair spectrum allocation

Telecom operator Reliance Jio has sought Union Minister Jyotiraditya Scindia's intervention to get regulator the Telecom Regulatory Authority of India (Trai) to issue a revised consultation paper on a proposed spectrum allocation rule to ensure a level playing field between terrestrial and satellite players.

QIP fundraising hits record high this year

Buoyed by bull run, 71 firms mobilise ₹88,678 crore so far

SBI talent emerges high-yield asset for private sector banks

Regulatory comfort drives bank boards to appoint SBI officials for stability

Ola Electric's BOSS sale under regulatory lens

Not updating ARAI about discount could risk subsidy claim

India stakes claim in 6G patents race

India is advancing aggressively in the race to shape the next generation of wireless technology.

Indians prefer credit over debit card for high-value payments

In June 2024, India saw a significant increase in the number of credit, debit, and prepaid cards, reaching a total of 1.451 billion cards—an 11 per cent jump from the previous year, according to the India Digital Payments report for the first half of 2024 (January to June) by payment technology service provider Worldline.

An Indian anthropologist ahead of her time

Urmilla Deshpande set out to work on a novel about an Indian woman in Germany in the 1920s based on her grandmother Irawati Karve when she stumbled on the opportunity to write her biography.

IAF plane makes inaugural landing at upcoming Navi Mumbai airport

An Airbus C-295 of the Indian Air Force (IAF) touched down at Navi Mumbai International Airport (NMIAL) on Friday, marking the formal inaugural flight landing at the place. A Sukhoi SU-30 fighter jet did a low fly-by at the airport to test the 3.7-km long runway in the presence of Maharashtra Chief Minister Eknath Shinde, his deputy Devendra Fadnavis and Murlidhar Mohol, Minister of State for Civil Aviation and Co-operation.

Less than 33% of youth can search Net, transact online

Less than a third of those in the 15-29 age group can \"search the internet; send or receive an email and perform an online transaction\", show the findings from the latest Comprehensive Annual Modular Survey (CAMS), released by National Statistical Office (NSO) this week.

TCS shares dip as analysts offer mixed outlook

IT sector is expected to grow considerably from Q4 FY25 onwards

NSE retains Nifty 50 for weekly contracts

The National Stock Exchange (NSE) has opted for the Nifty 50 index for issuing weekly option contracts following the Securities Exchange Board of India (Sebi's) one-exchange-one-benchmark mandate.

Compare lenders' costs; higher rates can offset benefits of offers

Footfall, enquiries, and bookings at car dealerships are rising, driven by attractive offers and promotions. These special deals typically start in October and run until the New Year.

Noel's appointment as Tata Trusts' chair signals continuity: Analysts

It will be business as usual for Tata group stocks post Noel Naval Tata's appointment as chair of Tata Trusts, said analysts. They added that the development will signal continuity.

Sebi intervenes in ₹45cr Trafiksol IPO irregularity

To undertake detailed examination into disclosures by the firm

India-focused funds log first weekly redemption in 19 mths

China resurgence, expensive valuation dim India appeal; midcap funds see 14th week of outflows

Palestinians: Our indifference

We must avoid the temptation to see Indian indifference to Palestine as usual \"enemy's (Muslim) enemy (Jew) is my friend\". Reason is the changed reality of Islamic world & India's equation with it

Is capitalism the cause of global inequality?

In 2014, the French economist Thomas Piketty's *Capital in the Twenty-First Century* became an international sensation, reshaping the inequality debate and launching its author into superstardom. Dr Piketty was right to point out that the political case for income redistribution is almost entirely focused on domestic concerns. But his central argument - that capitalism inevitably leads to growing inequality - falls apart when comparing the situation of impoverished farmers in Vietnam with the relative comfort of middle-class French citizens.