CATEGORIES

ICICI Bank, Kotak Mahindra Bank fined for violating norms

The Reserve Bank of India (RBI) on Tuesday said that it has imposed a penalty of ₹12.19 crore on ICICI Bank for violating rules related to the code of conduct for the bank's directors and for fraud reporting.

Defying US pressure, China rolls out red carpet for Putin

Putin’s attendance at BRI summit marks his highest-profile overseas trip since being accused of Ukraine war crimes

Biden to visit Israel as conflict worsens

US President Joe Biden will visit Israel on Wednesday to show support for its war on Hamas after Washington said Prime Minister Benjamin Netanyahu had agreed to let humanitarian aid reach besieged Gazans.

Russia moves to pull back from nuke pact

Russia's parliament took the first step on Tuesday towards revoking ratification of the Comprehensive Nuclear Test Ban Treaty (CTBT) and its top lawmaker warned the US that Moscow might even abandon the pact altogether.

IndiGo widens lead on international routes

Number of international passengers touched 15.6 mn in June quarter

Proxy firms oppose Anant Ambani's post

Institutional Shareholder Services Inc. (ISS), an international proxy advisory firm, has recommended that shareholders vote against the proposal to appoint billionaire Mukesh Ambani's youngest son, Anant Ambani, on the board of the family-controlled Reliance Industries Ltd, underscoring concerns around succession planning at India's largest company by market value.

Bajaj Finance trims loans to those with several small loans

Bajaj Finance has preemptively reduced business by 8-14% in urban and rural areas to customers who already have a number of small ticket loans, managing director Rajeev Jain told analysts on Tuesday.

No transaction data collated on e-rupee pilots so far: RBI

Pilot for retail e-rupee was launched on 1 Dec, a month after testing the wholesale CBDC

HDFC Bank needs to raise its margins

The September quarter (Q2FY24) was one of transition for HDFC Bank after it merged with HDFC with effect from 1 July. This has had a bearing on some key metrics during the quarter.

Mkts rebound after falling for three days

Equity benchmark indices bounced back on Tuesday amid recovery in global markets and buying in HDFC Bank following the release of its quarterly earnings.

India's carbon trade market may cover 15% of emissions by 2030

India's national emissions trading system should begin operating within two years and could cover about 15% of the country's emissions by 2030, according to an official involved in the preparations.

Cap goods cos steaming ahead

The S&P BSE Capital Goods index is among the top performing sectoral indices in 2023, gaining about 44% so far. Capital goods companies are expected to be key beneficiaries of higher government spending, and increased private sector capex, some of it thanks to production-led incentive schemes. The ongoing trends in automation, digitalization and electrification also help. For defence companies, investors are gung-ho on the indigenization theme.

Avendus to tap tech deals in SE Asia

Financial services firm Avendus will start offering investment banking services from Singapore to cash in on an expected technology sector dealmaking boom in the Southeast Asia region.

'Ten of 14 Lightbox cos to clock profit in 1 year

VC firm to focus on generating liquidity given recent changes, says Murthy

Govt readies OFS to sell 7% in Hudco

The government will sell 7% equity in Housing And Urban Development Corp. Ltd (Hudco) via an offer for sale (OFS) on 18-19 October that is likely to fetch it around ₹1,100 crore, a senior government official said.

Supreme Court says cannot legalize same-sex marriage

Only Parliament, legislatures can make law: SC; focus shifts to panel promised by govt

Adani in talks to develop Sabang port in Indonesia

Adani Ports and Special Economic Zone Ltd (APSEZ) is in talks with the Indonesian government to develop the strategically vital Sabang Port, two people aware of the matter said.

Govt may amend pension scheme

The Union government is likely to amend the national pension scheme (NPS) by the year-end to ensure employees get at least 40-45% of their last-drawn salary as retirement payout based on recommendations of a high-level panel currently looking into the matter, two people familiar with the developments said.

Chinese solar firms under tax scrutiny

Tax dept assessing permanent establishment of the companies

The materiality and morality of Net Zero should go hand in hand

Ed Conways The Material World’ makes us think about the costs of unrealistic climate goals that we have chosen to ignore

Policy need not wait for consensus on AGI

Chiefs of global companies, including Elon Musk and Masayoshi Son, and artificial intelligence (AI) experts such as Geoffery Hinton and Yoshua Bengio believe the phenomenal growth of generative AI models indicates that machines will soon think and act like humans, a trend we refer to as artificial general intelligence (AGI).

Goldin's research on US women's work patterns has resemblance

The challenges Indian women face are similar but theyve seen little progress on jobs or social norms

Crypto haven: has a $5 billion why the US govt stash in bitcoin

Uncle Sam’s stash of some 200,000 bitcoin was seized from cybercriminals and darknet markets

PHONEPE ROLLS A DICE IN THE PAY AGGREGATOR BIZ

The fintech company has started offering payment aggregator services—at an opportune time

India to set up high-risk glacial lake monitoring system next yr

There are 56 at-risk glacial lakes in the country and NDMA is working on the project

Pfizer to cut $9 bn from sales guidance

Plummeting demand for Covid shots and pills caused Pfizer Inc. to cut $9 billion from its total annual sales guidance as the drug giant grapples with a stark decline for what had been marquee products.

Jio Financial Q2 profit doubles to ₹668 crore

Co names former ICICI Bank executive Ganesh to steer technology

Deposit pricing sparks concerns about banks

Pricing signals pressure on banks to mobilize deposits for credit growth

Small Hollywood horror flicks strike it big

Several small-budget Hollywood horror films lacking top stars and lavish visual effects (VFX) have made their mark at the local box office, at a time when many local blockbusters have crowded the theatres.

Olympics debut to be a game-changer for cricket

Cricket fans worldwide have a reason to celebrate as the sport will debut at the LA Olympics in 2028. This is also expected to attract new cricket enthusiasts and promote global infrastructure development for the sport, apart from having a significant economic impact, said experts.