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August 09, 2024
All quiet on the eastern front: B'desh unrest grinds Petrapole business to a halt
Petrapole (West Bengal), 8 August Ganesh Datta cremated his wife on Monday and is now heading back home to Bangladesh.
![All quiet on the eastern front: B'desh unrest grinds Petrapole business to a halt](https://reseuro.magzter.com/100x125/articles/18959/1792934/48TbbsY5yo8ey43ARk4sys/ALL-QUIET-ON-THE-EASTERN-FRONT-BDESH-UNREST-GRINDS-PETRAPOLE-BUSINESS-TO-A-HALT.jpg)
3 mins
Ambani family's wealth 10% of India GDP: Report
At 15.45 trn, Adanis most valued first-gen family biz
![Ambani family's wealth 10% of India GDP: Report](https://reseuro.magzter.com/100x125/articles/18959/1792934/CkPKGwVYUCr8ZxgP9dysys/AMBANI-FAMILYS-WEALTH-10-OF-INDIA-GDP-REPORT.jpg)
2 mins
IT Firms Face 'Long Curve' Before Revenue Visibility From GenAI
Revenue from generative artificial intelligence (GenAI) or the deal pipeline in this segment in April-June of FY25 was missing in the quarterly statements of large information-technology services firms other than Accenture and Tata Consultancy Services (TCS).
![IT Firms Face 'Long Curve' Before Revenue Visibility From GenAI](https://reseuro.magzter.com/100x125/articles/18959/1792934/ZKqL2yUyeDSs4twFYNHsys/crp_IT-FIRMS-FACE-LONG-CURVE-BEFORE-REVENUE-VISIBILITY-FROM-GENAI.jpg)
2 mins
RBI holds repo rates again, cites food inflation risks
Policy must stay the course with close vigil on inflation trajectory, says governor
![RBI holds repo rates again, cites food inflation risks](https://reseuro.magzter.com/100x125/articles/18959/1792934/boJSwxeYtrhoPY1Kq63sys/RBI-HOLDS-REPO-RATES-AGAIN-CITES-FOOD-INFLATION-RISKS.jpg)
2 mins
Special CBDT unit to spot top 5,000 cases of unpaid tax
The Central Board of Direct Taxes (CBDT), driven by a \"very steep rise\" in pending income tax arrears, has decided to create a special team to identify the \"top 5,000 cases\" by the end of September.
![Special CBDT unit to spot top 5,000 cases of unpaid tax](https://reseuro.magzter.com/100x125/articles/18959/1792934/wVDWyTN425zYqOkREUasys/SPECIAL-CBDT-UNIT-TO-SPOT-TOP-5000-CASES-OF-UNPAID-TAX.jpg)
2 mins
B'desh crisis may be a speed bump for Indian 2W firms
Bajaj Auto, Hero MotoCorp, TVS collectively hold over 50% of market share in strife-torn country
![B'desh crisis may be a speed bump for Indian 2W firms](https://reseuro.magzter.com/100x125/articles/18959/1792934/IvOlz3RqCiaBJLOSPScsys/BDESH-CRISIS-MAY-BE-A-SPEED-BUMP-FOR-INDIAN-2W-FIRMS.jpg)
2 mins
Education made up 33% of firms' CSR spend in FY23
Reliance topped social spending from FY19 to FY22
1 min
₹1.82 trn GST from cell phones 5x what PLI allocated
Goods and services tax (GST) collections from mobile device companies, amounting to ₹1.82 trillion between 2020-21 (FY21) and 2023-24 (FY24), have already generated more than five times the revenue for the government compared to the ₹34,149 crore allocated under the production linked incentive (PLI) scheme for mobile devices over six years ending 2025-26 (FY26).
![₹1.82 trn GST from cell phones 5x what PLI allocated](https://reseuro.magzter.com/100x125/articles/18959/1792934/sN6CLUogF64n6tckfgSsys/182-TRN-GST-FROM-CELL-PHONES-5X-WHAT-PLI-ALLOCATED.jpg)
2 mins
Fortis to acquire 31% stake in Agilus for ₹1,780 crore
Deal values diagnostic arm at ₹5,700 crore
2 mins
Siam to take up inventory concerns at next meeting
Automobile industry body Siam is set to discuss the alarming rise in passenger vehicle (PV) inventory in its upcoming executive committee meeting.
1 min
US judge refuses to block Byju's payment to BCCI
In a big relief for Byju's, Delaware Bankruptcy Court in the US has rejected attempts by GLAS Trust Company, which represents the foreign lender consortium, to impede the edtech firm's ongoing turnaround efforts.
1 min
Trai directs telcos to curb misuse of bulk connections
The Telecom Regulatory Authority of India (Trai) on Thursday directed telcos to strictly monitor and disconnect all telecom resources of businesses if they misuse their bulk connections and engage in spam calls.
1 min
NCLT directs IIHL to transfer ₹2.7K cr to lenders in 2 days
Clarifies that interest on the money will accrue to lenders
![NCLT directs IIHL to transfer ₹2.7K cr to lenders in 2 days](https://reseuro.magzter.com/100x125/articles/18959/1792934/xIojG5GFHhf3sv3oKy9sys/NCLT-DIRECTS-IIHL-TO-TRANSFER-27K-CR-TO-LENDERS-IN-2-DAYS.jpg)
2 mins
FPI investment limit in OIS mkt under review
The Reserve Bank of India (RBI) has been reviewing the investment limit for foreign investors in the overnight index swap (OIS) market, Deputy Governor Michael Debabrata Patra said in the post-monetary policy press conference on Thursday.
1 min
"Today, India is far more resilient than what it was earlier'
Reserve Bank of India (RBI) Governor SHAKTIKANTA DAS, along with Deputy Governors MICHAEL DEBABRATA PATRA, SWAMINATHAN J, TRABI SANKAR, and M RAJESHWAR RAO, responds to a range of issues during a post-policy media interaction.
!["Today, India is far more resilient than what it was earlier'](https://reseuro.magzter.com/100x125/articles/18959/1792934/kdzlhnSVAMQsK08Lrggsys/TODAY-INDIA-IS-FAR-MORE-RESILIENT-THAN-WHAT-IT-WAS-EARLIER.jpg)
3 mins
Multiple users can now have one bank account
The Reserve Bank of India (RBI) has proposed introducing Delegated Payments feature on Unified Payments Interface (UPI), the widely used digital payments platform, allowing multiple users to make transactions from a single primary bank account.
1 min
Food inflation can't be ignored, need to remain vigilant: Das
Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said with food inflation comprising 46 per cent of the consumption basket, the pressures from it cannot be ignored by the monetary policy committee (MPC).
![Food inflation can't be ignored, need to remain vigilant: Das](https://reseuro.magzter.com/100x125/articles/18959/1792934/CvFoVfsASpH0mzwKFXQsys/FOOD-INFLATION-CANT-BE-IGNORED-NEED-TO-REMAIN-VIGILANT-DAS.jpg)
2 mins
Now, cheques to be cleared in a few hours
Reserve Bank of India (RBI) has proposed continuous clearing of cheques with 'on-realisation-settlement' Cheque Truncation System, instead of the current clearing cycle of two working days to speed up payments and enhance efficiency in the system.
1 min
IBBI brings in self-regulatory norms for CoCs
The Insolvency and Bankruptcy Board of India (IBBI) has introduced guidelines for the Committee of Creditors (CoC), which steers the insolvency resolution, to stem the value erosion that occurs due to delay in procedures and bring more transparency to the process.
1 min
RBI mandates fortnightly credit information reporting
The Reserve Bank of India (RBI) on Thursday mandated the frequency of credit information reporting to fortnightly basis as a measure to boost transparency in the system.
1 min
Repository of digital lending apps soon
The Reserve Bank of India (RBI) is setting up a public repository of digital lending applications (DLAs) of regulated entities such as banks and non-banking financial companies (NBFCs).
1 min
Household optimism on economic conditions for coming year takes a hit
Households in major cities in India seem to be less optimistic about the economic conditions for the year ahead.
1 min
'Banks should offer innovative products to garner deposits'
Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday asked banks to offer innovative products and services and effectively use their branch networks to attract household savings as deposits, amid increasing appeal of alternative investment avenues to retail customers.
!['Banks should offer innovative products to garner deposits'](https://reseuro.magzter.com/100x125/articles/18959/1792934/roRuUeNyJBh4wRRHcX8sys/BANKS-SHOULD-OFFER-INNOVATIVE-PRODUCTS-TO-GARNER-DEPOSITS.jpg)
2 mins
No concern on growth, no comfort on inflation
Not too many were expecting a rate cut by the Reserve Bank of India (RBI) despite the recent turmoil in global markets and near-certainty about the US Federal Reserve's first rate cut in four years in September.
4 mins
Angry young man who retained belief in humanity of communism
He began his life in politics as an angry young man.
![Angry young man who retained belief in humanity of communism](https://reseuro.magzter.com/100x125/articles/18959/1792934/QjxprTqQAKS34P9oGPtsys/ANGRY-YOUNG-MAN-WHO-RETAINED-BELIEF-IN-HUMANITY-OF-COMMUNISM.jpg)
3 mins
FM: No back-door entry for defaulting promoters
Statement comes in response to concerns over haircuts in insolvency cases
![FM: No back-door entry for defaulting promoters](https://reseuro.magzter.com/100x125/articles/18959/1792934/y2c37LNG1y54boHiLbCsys/FM-NO-BACKDOOR-ENTRY-FOR-DEFAULTING-PROMOTERS.jpg)
2 mins
SpaceX may bring astronauts home in 2025 if Boeing remains unfit
US' National Aeronautics and Space Administration (Nasa) is working with Elon Musk's SpaceX on plans to return two astronauts to Earth in the event that they're unable to travel on the troubled Boeing craft that initially carried them to space.
![SpaceX may bring astronauts home in 2025 if Boeing remains unfit](https://reseuro.magzter.com/100x125/articles/18959/1792934/doldACgMtUl1T4KCkqasys/SPACEX-MAY-BRING-ASTRONAUTS-HOME-IN-2025-IF-BOEING-REMAINS-UNFIT.jpg)
2 mins
Three-quarters of global carry trades now unwound: JP Morgan
Three-quarters of the global carry trade has now been removed, with a recent selloff erasing this year's gains, according to JPMorgan Chase & Co.
1 min
Meta raises $10.5 bn in largest high-grade debt sale
Meta Platforms sold $10.5 billion of investment-grade bonds, its largest-ever debt sale, which will boost its cash pile as the company spends heavily on artificial intelligence (AI).
1 min
Yunus sworn in as B'desh interim head
NOBEL LAUREATE VOWS TO 'UPHOLD, PROTECT CONSTITUTION' 16 ADVISORS TO ASSIST LEADER
![Yunus sworn in as B'desh interim head](https://reseuro.magzter.com/100x125/articles/18959/1792934/uXYzq90I41723148681155/YUNUS-SWORN-IN-AS-BDESH-INTERIM-HEAD.jpg)
2 mins
Plot to attack Taylor Swift show in Austria linked to Islamic State
Three Taylor Swift (pictured) concerts this week in Vienna have been cancelled following arrests over an apparent plot to launch an attack in the area, potentially at the stadium itself, and at least one of the suspects has been linked to the Islamic State group.
![Plot to attack Taylor Swift show in Austria linked to Islamic State](https://reseuro.magzter.com/100x125/articles/18959/1792934/y3nV6CQ1DdNFHGberzzsys/PLOT-TO-ATTACK-TAYLOR-SWIFT-SHOW-IN-AUSTRIA-LINKED-TO-ISLAMIC-STATE.jpg)
1 min
Purvodaya for eastern revival
From the solar chakras of Konark to the teascented breezes of Darjeeling, from Nalanda's phoenix-like resurgence to the Brahmaputra's life-giving pulse, eastern India ascends not as a lone star but as the lodestar in India's competitiveness odyssey.
3 mins
Chinese dependence
India has difficult choices
2 mins
Staying the course
Mr Das has set the record straight
2 mins
Don't count on a growth miracle
In a volatile global landscape, sustained growth rate of more than 7 per cent is quite a challenge
![Don't count on a growth miracle](https://reseuro.magzter.com/100x125/articles/18959/1792934/ufMemuaKI3kUp0LYSFmsys/DONT-COUNT-ON-A-GROWTH-MIRACLE.jpg)
4 mins
Normal monsoon to drive Dabur's growth: CEO
Dabur India aims to achieve mid-high single-digit growth in consolidated business in FY25, driven largely by normal monsoon and a rural-focused Budget, the firm said on Thursday during its annual general meeting.
![Normal monsoon to drive Dabur's growth: CEO](https://reseuro.magzter.com/100x125/articles/18959/1792934/Mcs4jTAgoQRagjvPhWusys/NORMAL-MONSOON-TO-DRIVE-DABURS-GROWTH-CEO.jpg)
1 min
Clinical Trial Waiver Only If Drugs Have Greater Benefits: Govt
The Ministry of Health and Family Welfare announced on Thursday that while it has waived the precondition of local clinical trials for certain drugs already approved in well-regulated markets, the subject expert committee will still assess whether these drugs offer greater therapeutic benefits than those available in India.
![Clinical Trial Waiver Only If Drugs Have Greater Benefits: Govt](https://reseuro.magzter.com/100x125/articles/18959/1792934/WePVq7ofSA7yRoacfQFsys/crp_CLINICAL-TRIAL-WAIVER-ONLY-IF-DRUGS-HAVE-GREATER-BENEFITS-GOVT.jpg)
1 min
Rural continues to outpace urban in volumes growth
FMCG sector growth at 4% in April-June on relaxed consumption, shows Nielsen IQ data
![Rural continues to outpace urban in volumes growth](https://reseuro.magzter.com/100x125/articles/18959/1792934/vD87Guy3kRxWVev8Ksosys/RURAL-CONTINUES-TO-OUTPACE-URBAN-IN-VOLUMES-GROWTH.jpg)
2 mins
A CLASS APART
Sebi has proposed a new asset class. How far can it quench the risk-taker's thirst?
![A CLASS APART](https://reseuro.magzter.com/100x125/articles/18959/1792934/RLQOOdIsxwnk8VrnQCgsys/A-CLASS-APART.jpg)
4 mins
Waqf Bill referred to joint committee of Parliament
Oppn says move aims at targeting Muslims
![Waqf Bill referred to joint committee of Parliament](https://reseuro.magzter.com/100x125/articles/18959/1792934/HCa92xosXtMKkB8dm7Hsys/WAQF-BILL-REFERRED-TO-JOINT-COMMITTEE-OF-PARLIAMENT.jpg)
2 mins
'Wrestling won, I lost...no strength left': Crestfallen Vinesh bids adieu
Wrestler Vinesh Phogat (pictured) has announced retirement after her heartbreaking disqualification from the Olympics, saying she doesn't have the strength to continue.
!['Wrestling won, I lost...no strength left': Crestfallen Vinesh bids adieu](https://reseuro.magzter.com/100x125/articles/18959/1792934/uJxlewFQYe9d7oxkdYxsys/WRESTLING-WON-I-LOSTNO-STRENGTH-LEFT-CRESTFALLEN-VINESH-BIDS-ADIEU.jpg)
1 min
NSE's loss may be GIFT City's gain
Stricter F&O rules likely to lead shift in volumes, says NSE CEO
2 mins
Improving outlook may drive further gains in Godrej Consumer
THE COMPASS Godrej Consumer Products (GCPL) reported a three per cent year-onyear (Y-o-Y) decline in consolidated net revenue to ₹3,330 crore, lower than consensus.
2 mins
Keep bulk of portfolio in short- to medium-duration debt funds
In its monetary policy review meeting that ended on July 31, the US Federal Reserve (Fed) opted to keep interest rates unchanged, but hinted at a rate cut in September.
2 mins
Alternative investment avenues attracting retail customers: RBI
Alternative investment avenues are becoming more attractive to retail customers, said the Reserve Bank of India (RBI) on Thursday, noting that the trend may expose the banking system to \"structural liquidity issues\".
2 mins
Markets cede ground after 1-day gain
Sensex, Nifty decline 0.7% as global worries reignite
![Markets cede ground after 1-day gain](https://reseuro.magzter.com/100x125/articles/18959/1792934/oewxYWFgNEFphyNEgCQsys/MARKETS-CEDE-GROUND-AFTER-1DAY-GAIN.jpg)
2 mins
LIC Q1 profit up 9.6% at ₹10.4K crore
Healthy growth in group business premiums
![LIC Q1 profit up 9.6% at ₹10.4K crore](https://reseuro.magzter.com/100x125/articles/18959/1792934/0Y5EAU8BL0yQTV5ERjhsys/LIC-Q1-PROFIT-UP-96-AT-104K-CRORE.jpg)
1 min
Oil India Q1 net profit falls 9% to ₹1,467 crore on higher expenses
State-run explorer Oil India reported a smaller-thanexpected quarterly profit on Thursday, hurt by higher expenses.
1 min
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kategori: Newspaper
Dil: English
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Business Standard is India's leading business daily.
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