Business Standard - August 26, 2024

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August 26, 2024

Debate over satellite spectrum allocation: Jio, One Web up the ante

In a new development in the ongoing spectrum battle, India's largest telecommunications carrier by subscriber count, Reliance Jio, has written to the regulator, arguing that the Telecommunications Act, 2023, does not mandate \"administrative allocation as the only method of assignment\" for satellite operators.

2 mins

12 industrial parks worth ₹25,000 cr await Cabinet nod

To attract ₹1.5 trn investment in boost to manufacturing

1 min

New pension norms soon, FinMin to meet states

The Department of Expenditure (DOE) in the Ministry of Finance is likely to put out operational framework for implementing the unified pension scheme (UPS).

2 mins

Rural two-wheeler sales race past urban markets in a 1st since Covid

For the first time since Covid-19, growth in two-wheeler sales in rural India has surpassed that in urban areas during the April to July period this year.

2 mins

GDP growth in Q1 likely to have moderated

Slowdown in key drivers due to LS polls and high base effect: Analysts

2 mins

Zomato eyes a new 'District' with 3rd super brand

After building profitable businesses in food delivery and quick commerce, Zomato Chief Executive Officer (CEO) Deepinder Goyal is looking to get up his \"third large business-toconsumer (B2C) business\" through the newly announced \"District\" app, expected to be rolled out sometime in the coming weeks.

3 mins

TCS gives 77.5% cash returns to investors

As India's largest information technology (IT) services company, TCS, on Sunday marked 20 years of its listing, its Managing Director and Chief Executive Officer K Krithivasan said the firm would remain equally focused on building a stronger future.

1 min

'If we get operating coking coal mine, we will look at it'

Even after announcing investment in two international coking coal assets, JSW Steel may continue to keep looking for an operating mine as part of a broader strategy to beef up raw material security for a fast-expanding steel business.

2 mins

Anil Ambani reviewing securities market ban

Reliance Group chairman Anil Ambani is reviewing \"appropriate\" options after the Securities and Exchange Board of India (Sebi) banned him from the stock markets and imposed a ₹25-crore fine for alleged fund diversion from Reliance Home Finance (RHFL), a former subsidiary of Reliance Capital.

1 min

RIL AGM may focus on new energy biz, Jio and Retail IPOS

1st AGM since Ambani family's next gen joined board

2 mins

Insurers have festivities covered as India prepares for celebrations

Step up coverage and costs for organisers and participants as festival season begins

2 mins

RCap lenders raise concerns over debt term sheet

Lenders to debt-ridden Reliance Capital (Rcap) have raised concerns regarding the term sheet provided by the Hinduja Group firm IIHL for ₹7,300 crore debt mobilisation to fund acquisition.

1 min

India ramped up Russia oil imports in Q1

Growth set to build on June qtr's $14.7 bn oil inflows amid competition from UAE, Iraq

1 min

Would have liked to see RBI-staff MPC members also dissent sometimes'

ASHIMA GOYAL, external member, Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC), who voted for rate cut in both June and August review meetings, told Manojit Saha in an email interview that she does not see any broad-based rise in core inflation. The August meeting was the last one for external members who have fixed four-year tenure. Edited excerpts:

2 mins

UPS no burden on future govts, says Somanathan

Fiscally prudent, funded within Centre's projections, stresses pension panel head

2 mins

Sitharaman, Goyal to attend India-S'pore ministerial meet today

Finance Minister Nirmala Sitharaman (pictured left); Commerce and Industry Minister Piyush Goyal (pictured right); External Affairs Minister S Jaishankar; and Railways, Electronics, and Information and Broadcasting Minister Ashwini Vaishnaw will on Monday attend a key meeting that aims to strengthen bilateral ties between India and Singapore.

1 min

Govt defends Great Nicobar project amid criticism, cites national interest

Amid criticism, the Centre has said the transhipment port project on Great Nicobar Island is essential because of national importance and that it would go ahead with the plan to keep environmental impact minimal.

1 min

'India's palm oil output may face winter chill'

India's palm oil yield, which currently averages around 18-20 tonnes per hectare, will require robust investment in research to match global standards but winter remains a hindrance in getting optimum yield under natural conditions, a senior scientist at one of the world's largest palm plantation companies based in Malaysia has said.

2 mins

Sugar industry fears new norms may bring back old curbs

A section of the sugar industry fears that the new draft amendments to the nearly six-decadeold regulation regarding production, storage and pricing of sugar may bring back some of the controls that have been progressively brought down over the years.

1 min

Stocks, bonds may rally on Powell's rate cut cue

The equity market and government bonds are expected to open on a positive note on Monday, following a decline in US Treasury yields after Federal Reserve (Fed) Chair Jerome Powell signalled that it's time to cut interest rates.

2 mins

Multiple poles in J&K elections

With no local government, and with bureaucrats at the helm for the past six years, the people in the UT are looking forward to representative democracy. KALEEM GEELANI reports

4 mins

A chance for Adityanath to prove his mettle, once again

UP is set to witness bypolls on 10 Assembly seats. While BJP is looking to get its mojo back, the SP is on a high after success in Lok Sabha elections. VIRENDRA SINGH RAWAT gives an insight

3 mins

Can Vijay deliver a blockbuster in politics?

India's highest-paid actor is eyeing success in 2026 TN Assembly polls. But the plot may have many twists. SHINE JACOB writes

4 mins

Russian-born Telegram CEO arrested at Paris airport

Pavel Durov (pictured), the Russian-born billionaire founder and owner of the Telegram messaging app, was arrested at Le Bourget airport outside Paris shortly after landing on a private jet late on Saturday and placed in custody, two sources told Reuters.

1 min

Why 7-Eleven is indispensable part of daily life in Japan

In Japan, convenience stores are celebrated.

1 min

Fed's preferred price gauge set to support rate cuts

US inflation figures in the coming week will reinforce that long-awaited interestrate cuts are coming soon, while a reading on consumer spending is seen indicating that the central bank has been successful at keeping the expansion intact.

1 min

Israel, Hezbollah exchange missile fire; region on edge

Not planning more strikes, indicates Hezbollah; do not seek a full-scale war, says Tel Aviv

2 mins

Bank of China prez quits in sudden move

Bank of China President Liu Jin has stepped down after a little more than three years in the job, according to a statement from the company filed to the Shanghai Stock Exchange.

1 min

Out for delivery

E-commerce policy should aim to enhance competition

2 mins

Does policy matter?

Lessons from two elections and one ongoing campaign

4 mins

Bank FDs sahi hai!

Union Finance Minister (FM) Nirmala Sitharaman last week asked public-sector banks to make concerted efforts to mobilise deposits through special drives.

4 mins

Containing Mpox

Govt should increase awareness

2 mins

MSME cash flows can be erratic; lenders must know'

FlexiLoans.com, a lender to small businesses starved of credit from legacy institutions, uses digital tools to make good the lack of transparency and thin files of borrowers. The firm intends to hit an annualised disbursement of ₹5,000 crore, and has set an internal target of 10,000 crore for the next three years. RITESH JAIN, co-founder of Flexiloans.com, spoke with RAGHU MOHAN in a telephonic interview. Edited excerpts:

3 mins

New credit risk standards are game changer for economy

The Reserve Bank of India (RBI) has taken a significant step in enhancing model risk management (MRM) protocols for regulated entities (RES), issuing draft guidelines on 'Regulatory Principles for Management of Model Risks in Credit'.

2 mins

For a better tomorrow

The way loans are given out is about to be reshaped, reports c

4 mins

MUCH ADO ABOUT LATERAL ENTRY

The govt's biggest lateral hiring initiative came undone in three days, but the issue remains alive

4 mins

Khara era ends, Setty has new challenges

With Dinesh Khara's legacy of stock market's love for SBI, his successor CS Setty faces the task of sustaining this momentum while war for deposits continues on the banking turf

5 mins

Crimes against women unpardonable sin: PM

Prime Minister Narendra Modi on Sunday termed crimes against women an unpardonable sin, adding the guilty should not be spared.

1 min

In the dock, popular director, actor resign from key posts

Kerala govt forms special team to probe atrocities faced by women in film industry וזח .

3 mins

Rural revival, margin boost oil the 2W engine

NEUTRAL TO NITRO: Two-wheeler stocks ride the wave of EV adoption, launches, and premiumisation

3 mins

Yield meets safety: A financial balancing act like no other

Launched in September 2000, the Nippon India Corporate Bond Fund has consistently ranked in the top 30 percentile of the corporate bond funds category according to the CRISIL Mutual Fund Ranking (CMFR) for three consecutive quarters up to June 2024.

1 min

Target GST relief to insurance smartly

In the early 2000s, it was widely anticipated that the government would reduce the excise duty on cars in the upcoming Budget.

2 mins

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