CATEGORIES

AAI pencils in highest profit in 8 years

The Airports Authority of India (AAI), which operates over 120 airports, expects a net profit of ₹3,257.28 crore in the current financial year (FY24), the highest in eight years, government officials told Business Standard.

NITI bats for e-comm push to boost MSME exports

NITI Aayog has called for easing of access to export finance and a concerted push to boost e-commerce exports to realise the potential of the country's micro, small, and medium enterprises (MSMEs).

RBI slaps penalty on Bol, Bandhan, Indostar Capital

The Reserve Bank of India (RBI) has slapped penalty on three lenders - Bank of India (Bol), Bandhan Bank and Indostar Capital - amounting to ₹1.8 crore for breach of norms on rate of interest on deposits and monitoring of frauds, etc.

Federal, South Indian Bank told to stop issuing co-branded credit cards

Following the directions by the Reserve Bank of India (RBI) on Tuesday, private sector lenders Federal Bank and South Indian Bank stopped issuing cobranded credit cards to new customers on account of regulatory deficiencies, according to exchange filings.

IIFL Fin plans ₹1,500 cr rights issue

IIFL Finance, which is facing curbs on its gold loan business, is planning to raise up to ₹1,500 crore of equity capital through a rights offer in the first quarter of next financial year to shore up its capital adequacy.

FinMin directs PSBs to conduct review of gold loan portfolio

The finance ministry has directed all state-owned banks to review their gold loan portfolio, as instances of non-compliance with regulatory norms have been noticed by the government.

SHORT SELLER ATTACK WAS TO DEFAME INDIA'S GOVERNANCE PRACTICES: ADANI

The objective of the attack by US-based short seller Hindenburg on the Adani group shares last year was not only to destabilise the group but also to politically defame India's governance practices, said Gautam Adani, chairman of the Adani group, in Mumbai on Monday.

Raveendran gets shield against ouster till Mar 28

The Karnataka High Court on Wednesday extended the interim protection granted to edtech firm Byju's till March 28, safeguarding founder Byju Raveendran against any potential ouster in an extraordinary general meeting (EGM) by investors.

Soon, govt panel of auditors to scan pharma firms' marketing practices

As the Centre notified a Uniform Code for Pharmaceutical Marketing Practices (UCPMP) to curb unethical practices in the industry, the Department of Pharmaceuticals (DOP) will now establish a panel of auditors tasked to conduct risk-based audits of marketing spends of drug firms.

Economy may grow over 7% for 4th straight year in FY25: CEA

The Indian economy may clock over seven per cent growth rate in FY25 too if conditions are favourable, Chief Economic Advisor (CEA) Anantha Nageswaran said on Wednesday, even as he exuded confidence about the country achieving a hat-trick of seven per cent growth in the ongoing financial year.

Govt rolls out ₹500 cr plan to promote e-mobility

The Centre on Wednesday announced a new scheme, the Electric Mobility Promotion Scheme (EMPS), 2024, to promote the sale of electric twowheelers (e2W) and threewheelers (e3W) in the country.

Big Tech may face parallel govt probes

Big tech firms could face parallel inquiries for similar contraventions under the proposed Digital Competition Bill and the existing Competition Act, said legal experts.

Cabinet approves ₹8.4K crore Delhi Metro corridors

The Union Cabinet on Wednesday approved two new corridors of Delhi Metro's Phase-IV project Lajpat Nagar to Saket G-Block, and Inderlok to Indraprastha Union Minister Anurag Thakur said.

Fino PB appoints 2 independent directors

Fino Payments Bank said on Wednesday it had appointed two women independent directors on its board to provide impetus to the next phase of digital-led growth.

Zepto to levy ₹2 platform fee for select users

Quick commerce player Zepto has introduced a platform fee of ₹2 for select users in a bid to achieve profitability, becoming the first player in the segment to do so.

Entod Pharma develops 'first' insulin eye drops

Entod Pharmaceuticals, a pharmaceutical company based in Mumbai, is claiming to have developed the world's first human insulin eye drops designed to treat corneal eye conditions.

TV panel prices may rise 10% in Apr

Consumers may have to shell out more to buy television panels as manufacturers say they may raise prices again in April.

Rasna eyes franchisees to manufacture abroad

Rasna, which became a household name in the 80s and 90s and is still ruling the pre-mix market, is now looking at overseas franchise arrangements for manufacturing abroad.

Perfios set to be India's second Unicorn of 2024

Fintech-focussed software-as-a-service firm Perfios on Wednesday secured $80 million in funding from Teachers' Venture Growth (TVG), a late-stage venture and growth investment arm of Ontario Teachers' Pension Plan.

Meesho announces largest Esop buyback worth ₹200 crore

Online shopping platform Meesho has announced a ₹200 crore buyback of shares which were issued through Employee Stock Ownership Plan (ESOP), making it the company's largest ESOP buyback pool till date.

Hyatt to expand in India with 7 new properties in '24

Global hospitality company Hyatt Hotels plans to expand its footprint in India by opening seven new hotels and adding 1,115 keys across leisure and city destinations in 2024.

Tata Electronics bets big on Singapore-based Silicon Box

Tata Electronics is making India's first semiconductor fabrication plant in Dholera, Gujarat, but perhaps less well known is the fact that it invested in Singapore-based semiconductor startup Silicon Box on January 9.

Work begins on 3 semiconductor projects worth $1.25 trillion

PM inaugurates the chip-making plants virtually, says India achieving milestones in Industry 4.0

Layofffears at Paytm as deadline for bank cutback just a day away

With the deadline closing in before multiple restrictions on Paytm Payments Bank take effect, job cuts are in the air.

Sebi may ease IPO norms as board meets tomorrow

The Securities and Exchange Board of India (Sebi) may approve easier norms for initial public offerings (IPOs), exclude more foreign portfolio investors (FPIs) from additional disclosure norms, give nod to a same-day settlement framework, and grant relief to alternative investment funds (AIFS) and mutual funds.

TaMo to set up ₹9K cr plant in Tamil Nadu

Tata Motors on Wednesday signed a pact with the Tamil Nadu government to set up a vehicle manufacturing plant in Ranipet near Vellore with an investment of ₹9,000 crore.

Small, midcap indices see worst day in 2 yrs

Slump comes amid stress-test concerns; ₹13 trn mcap shaved off

Use of Indian languages key to better internet access

Nearly 665 million Indians, or 45 per cent of the rural population, did not have access to the internet as of 2023.

Google limits poll-related queries for Gemini chatbot

It is also collaborating with EC for seamless access to vital voting information

COMING WITH THE WIND

The stock market is optimistic, but it will take more than that for the surviving airbenders to regain the past glory of India's first green-energy sector