Business Standard - January 11, 2025

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January 11, 2025

Bankers ask RBI for durable liquidity as deficit mounts

Amid funds in the money market drying up, bankers in a meeting with the Reserve Bank of India (RBI) this week asked for liquidity to be made durable.

2 mins

Budget May Raise KCC Credit Limit to ₹5 Lakh

The central government is likely to increase the borrowing limit under the Kisan Credit Card (KCC) scheme from ₹3 lakh to ₹5 lakh in the upcoming Union Budget for FY26, to be presented on February 1, according to a source familiar with the matter.

2 mins

Registration Process for FPIs Investing Only in G-Secs to Get Easier

Move will do away with need to furnish specific data sought earlier

1 min

Infosys countersues Cognizant, its CEO in battle over misuse of information

Information Technology (IT) major Infosys escalated the legal tussle with Cognizant by filing a countersuit in a US court, accusing the Nasdaq-listed firm and its Chief Executive Officer (CEO) Ravi Kumar of anticompetitive practices by maintaining its monopoly.

2 mins

Vedanta Secures $300 Mn in Loans to Refinance Debt

Vedanta Resources—the parent firm of Mumbai-based mining conglomerate Vedanta Ltd—on Friday said it has secured $300 million in loans from a clutch of leading global banks such as Barclays and First Abu Dhabi Bank for refinancing its 2024 and 2026 bonds.

1 min

DPIIT officials meet AIFs to promote startup funding

Ahead of the Union Budget, the Department for Promotion of Industry and Internal Trade (DPIIT) officials on Friday met alternate investment funds (AIFs) to discuss ways to promote funding for startups in the country.

1 min

India Needs AI Factories to Target Accelerated Computing: Nvidia MD

Chip-making giant Nvidia, which recently surpassed Apple to become the highest-valued company in the world, has called for the setting up of AI (artificial intelligence) factories in the country to take the next leap in AI revolution.

1 min

Unlisted firms adding capacity at faster clip than listed peers

The concluding part of the series looks at the financials of unlisted firms and examines capex trends

2 mins

Vodafone exits Indus Towers, raises ₹3K cr

British telecom giant Vodafone Plc has completed its exit from mobile tower infrastructure company Indus Towers, liquidating its remaining 3 per cent stake in the company for ₹2,800 crore, it informed the London Stock Exchange on Friday.

1 min

Motorcycle diaries: Hero Splendor reigns supreme, siblings lose ground

Hero MotoCorp's Splendor continues its reign as India's best-selling motorcycle for six consecutive years now.

3 mins

Medtech industry expects more medical devices to be reclassified

Industry experts expect that the Central Drugs Standard Control Organisation (CDSCO) look at reclassifying more medical devices on the basis of their risk approach under the Medical Device Rules (MDR), 2017.

1 min

SpiceJet's 10 grounded planes to fly again by Apr

Domestic carrier SpiceJet on Friday announced plans to bring back into operations 10 of its grounded aircraft, including four Boeing B737 Max, by mid-April.

1 min

Neuberg Diagnostics raises ₹940 cr from Kotak fund

Largest primary fundraise in Indian diagnostics sector may involve 15% stake sale

2 mins

90-hr work week: Work-life balance not optional, say industry leaders

As the 90-hour work week debate rages, industry leaders Harsh Mariwala, Harsh Goenka and Rajiv Bajaj have weighed in, saying work-life balance is not optional but is essential, and working hard to succeed is not about the hours clocked in.

1 min

JSW Paints plans to invest ₹1,000 cr in 3-5 yrs: CEO

JSW Paints is open to exploring inorganic growth opportunities including participating in the current process being run by Akzo Nobel.

1 min

Delhi airport to shut T2 from April for renovation

Delhi airport's Terminal 2 (T2) will be shut from April onwards for about four to six months as its operator Delhi International Airport Limited (DIAL) will be refurbishing it.

1 min

GLOBAL ECONOMY STRUGGLES AS THE WEB GOES DARK

India ranked sixth in terms of economic losses caused by government-imposed internet shutdowns in 2024, according to a recently released report.

1 min

GST Notices Worth ₹1.12 Trillion on Online Gaming Cos Stayed

SC Mandates Consolidation of All Such Cases by Next Hearing on March 18

2 mins

IIP Growth Hits 6-Month High in Nov on Low Base

Growth in India's Index of Industrial Production (IIP) surged to a six-month high of 5.2 per cent in November 2024 from 3.7 per cent in the previous month, aided by a low base, data released by the National Statistics Office (NSO) on Friday showed.

1 min

Centre releases ₹1.73 trn to states as tax devolution

The Centre on Friday released tax devolution of ₹1.73 trillion to state governments against the devolution of ₹89,086 crore in December 2024.

1 min

Mining fatalities drop, but safety remains elusive

Risky Bet Mining related accidents in mine rich states

2 mins

Projects worth ₹50,000 cr mooted for robust inland waterways

Investment projects worth ₹50,000 crore were proposed on Friday at a meeting of the Inland Waterways Development Council in Assam for developing river and waterways across the country in the next five years.

1 min

NFRA looks to enhance communication between auditors & audit panels

The National Financial Reporting Authority (NFRA) on Friday released the first part of the Auditor-Audit Committee Interaction Series to enhance communication between auditors and audit committees of companies and improve audit quality.

1 min

Interviews for RBI deputy guv next week

Government panel consisting of RBI governor, Cabinet secy, DFS secy to interview candidates

1 min

Exports of organic products could reach $100 bn in 5 yrs: Goyal

There is a potential to increase exports of food, beverages, and marine products to $100 billion in the next 4-5 years as huge demand is there for these goods in the global markets,

1 min

₹ at fresh low; fx kitty shrinks to 10-mth low

The rupee fell to a new low of 85.97 against the dollar as the greenback remained well bid against emerging market currencies ahead of US labour market data, dealers said.

1 min

Sebi May Increase Floor for Granular Disclosures by FPIs

Markets regulator plans to double threshold to ₹50,000 cr

1 min

Life Insurers' Dec NBP Drops 21.7%

The new business premium (NBP) of life insurance firms dropped 21.7 per cent year-on-year (Y-o-Y) to ₹30,218.71 crore in December 2024 on the back of a steep fall in business.

1 min

Star Health looks to double banca biz to ₹2K cr in 3 yrs

India's largest standalone health insurance company Star Health and Allied Insurance on Friday said that it was targeting to double the revenue from bancassurance (banca) from around ₹1,000 crore to ₹2,000 crore in the next three years.

1 min

SBI chief calls for common mechanism to track SME fund usage

Country's largest lender, State Bank of India, has mooted a common mechanism to track the use of funds raised through debt and equity by small and medium enterprises (SMEs) to give comfort to lenders and investors and make pricing more competitive.

1 min

State plans ecomm boost for MSME sector

To propel the growth of micro, small and medium enterprises (MSMEs), and enhance their competitiveness, the Uttar Pradesh (UP) government is planning to interconnect 155 industrial clusters with a dedicated ecommerce (ecomm) platform.

1 min

Success Lies in How I Prepare My Team for the Future: Modi

In his podcast debut, released on Friday, Prime Minister Narendra Modi said he considers the benchmark of his success would be to shape an able team that will deftly handle things in the years to come, and spoke of his enormous faith in the country's youth.

3 mins

MP, Karnataka, Maha Among States Seeing Higher Women Voter Turnout

Women-Centric Schemes Help Boost Their Turnout in Polls

1 min

Govt working on no interest warehousing for farmers, says Chouhan

Ahead of the Union Budget, Union Agriculture Minister Shivraj Singh Chouhan on Friday said the government was trying to ensure that farmers do not have to pay any interest to keep produce in a warehouse for two to three months.

1 min

US Imposes Sanctions on Russian Oil Fleet, Traders

Tankers supplying oil to India among those affected

1 min

LA Fire May Cost Insurers Over $20 Billion

The potential cost for insurers of the devastation caused by the Los Angeles wildfires is now expected to surpass $20 billion, according to analysts at JPMorgan Chase & Co, doubling their estimate from just a day before.

1 min

Prada Looks to Bag Versace from Capri

Italy's Prada is among the potential suitors looking at fashion group Versace, put up for sale by parent Capri Holdings, and has been working with Citi to evaluate any bid, a person with knowledge of the matter said on Friday.

1 min

China erasing Tibetan culture, one child at a time

Tibetan rights activists, as well as experts working for the United Nations, have said that China is systematically separating Tibetan children from their families to erase Tibetan identity and to deepen its control of people who historically resisted Beijing's rule.

2 mins

Trump Is on a Collision Course with the US Budget

There has been endless speculation about the chaos that may (or may not) await America and the world following US President-elect Donald Trump's inauguration on January 20.

3 mins

Corridor of uncertainty

With a microphone in hand, Rohit Sharma delivered his most memorable performance in the recently concluded Border-Gavaskar Trophy in Australia.

3 mins

An open letter to Prof Mohd Yunus

Hasina took away your bank, and you've now served revenge. Here's the test: Now that you have public office, it implies public trust. Can you have it and do nothing with it? And if you would, what would it be?

5 mins

Fun, harm, and the fine line

The Enron Egg has been viral on social media for a while. This white egg-shaped tabletop device is touted as a micronuclear reactor that can power a home for 10 years.

3 mins

Fifteen wasted years

Cities that are at the cutting edge of national development are also, very visibly, the sites of change.

3 mins

FPIs exit India debt market as bond yield gap with US shrinks

Foreign portfolio investors (FPIs), which returned to the domestic debt market in December after two consecutive months of net selling, started withdrawing again in January.

1 min

Mkts end week in red on FPI selling

Cumulative net shorts on Nifty and Bank Nifty Futures by FPIs on Thursday was highest since June 6, 2024

2 mins

Bombay Burmah, Wadias settle matter with Sebi for ₹2.1 cr

Bombay Burmah Trading Corporation, its promoters Nusli Wadia, his sons Ness Wadia and Jehangir Wadia, along with 14 others settled a matter with the Securities and Exchange Board of India (Sebi) for alleged violations of three regulations by paying the total settlement amount of ₹2.13 crore.

1 min

$35 bn IPOs in the pipeline this year: Kotak I-Banking

The momentum in the equity market is likely to continue with initial public offerings (IPOs) worth $35 billion in the next 12 months, Kotak Investment Banking said on Friday.

1 min

Reits, InvITs, municipal bonds hold potential for next decade: Sebi chief

Madhabi Puri Buch, chairperson of the Securities and Exchange Board of India (Sebi), on Friday said that real estate investment trusts (Reits), infrastructure investment trusts (InvITs) and municipal bonds could match the fund raising in primary debt issuances in the coming decade.

1 min

Record 4.5 million SIP closures in Dec, inflows stay strong

Investors are shutting down mutual fund (MF) SIP accounts at a record pace amid mounting equity market volatility.

1 min

Near-term worries for Tata Elxsi on weak transportation outlook

Tata Elxsi (TelX) reported a weak Q3FY25, with a sharp deceleration in the transportation vertical.

3 mins

63% of Nifty 500 stocks below long-term avg

Prolonged weakness in the benchmark indices seems to have taken a toll on the overall market breadth, with a vast majority of the stocks now trading below the long-term moving average.

1 min

SECTOR-THEMATIC NFOs Beware lack of track record, cyclicality, concentration risk

To capitalise on the bull market, mutual fund houses launched 202 new fund offers (NFOs) in 2024, a record high, according to data from Morningstar.

2 mins

Brokerages Upbeat on TCS After Q3 Miss

They highlight optimistic outlook and attractive valuation

2 mins

Short on funds? Book flights with 10-40% upfront & pay the rest later

Short of funds for an international trip? You can book your flight with just 10 to 40 per cent upfront payment.

1 min

From Russia With Love

Indian refiners may face a windfall this year from falling Urals oil rates even as US levies sanctions on Russian firms. Will motorists benefit?

5 mins

Meta's Fact-Check Shift in US Sparks Misinformation Fears in India

Meta's decision to discontinue its fact-checking programme in the United States has raised concerns among its partners in India, prompting many to reconsider their strategies.

3 mins

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