Business Standard - September 21, 2024

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September 21, 2024

RBI report: Gap in credit, deposit growth shrinking but challenges remain

The gap between credit and deposit growth in banks, which has been a major concern for the Reserve Bank of India (RBI) over the past two years, is finally narrowing, according to the latest State of the Economy report released by the central bank on Friday.

2 mins

Govt to list out 500 firms based on CSR spend

Scheme portal to go live by Sep-end

2 mins

Weekend high: Strong FPI inflows lift equities, rupee

Foreign investors bet ₹14K cr, most in a day in 3 yrs; ₹ posts biggest weekly gain in '24

3 mins

Weekend high: Strong FPI inflows lift equities

Foreign investors bet ₹14K cr, most in a day in 3 yrs; ₹ posts biggest weekly gain in '24

1 min

Listed firms log record operating cash flow of ₹11.1 trn in FY24

Cross ₹10-trillion mark for first time; larger portion than before being used to retire long-term liabilities

3 mins

Physics Wallah's valuation swells 2.5x to $2.8 bn

Raises $210 mn in Series B round

3 mins

What's a curative plea

Cash-strapped telecom operator Vodafone Idea (Vi) has announced a surprise meeting with investors and analysts on September 23.

2 mins

EQT to acquire Indostar Home Fin for ₹1.7 K cr

Private equity major EQT said on Friday it had agreed to acquire a 100 per cent stake in Indostar Home Finance, an Indian affordable housing finance company, for ₹1,750 crore.

1 min

Dealerships shrink as non-trade, e-sales solidify

Dealer networks have failed to keep pace with the rise in cement volumes sold in the last financial year, a trend that industry experts suggest may be due to the rise in non-trade and online sales, and a focus on larger dealerships.

1 min

Hyatt PE India to be taxed even if int'l unit racks up losses: HC

The Delhi High Court has upheld the plea of the authorities to tax the permanent establishment (PE) of Hyatt International in India even if the global company incurs losses.

1 min

Costly inputs, weak prices tale of H1

As September draws to a close, cement makers in India may end the first-half of the current financial year (H1FY25) with higher than expected raw material costs, amid weak pricing, industry experts and analysts suggest.

2 mins

Missing CA's funeral: EY India chair says won't happen again

Rajiv Memani, chairperson of consultancy EY India, has expressed regret for missing Anna Sebastian Perayil's funeral and said it \"will never happen again\".

2 mins

‘Max Health in search of growth opportunities’

Max Healthcare Institute is looking for growth opportunities in various cities across the country, Abhay Soi, chairman and managing director, said while addressing the annual general meeting (AGM) of the hospital chain.

1 min

Deloitte forms 3-member panel to review people practices

Amid a social media storm over the death of a young employee at tax consultancy major EY allegedly due to work pressure, Deloitte had formed a three-member external committee, which includes former revenue secretary Tarun Bajaj, to look into practices, policies and processes concerning employees, its South Asia CEO Romal Shetty said on Friday.

1 min

MTR owner eyes IPO in 2025

The Indian arm of the Norwegian investment company Orkla ASA, which owns spice brands like MTR and Eastern, is exploring the possibility of launching an initial public offering (IPO) in 2025, said a top company executive.

1 min

India-Asean pact review top priority: Commerce dept

The commerce department on Friday said that the review of Asean-India Trade in Goods Agreement (AITIGA) is 'high on our priority' to make the pact more user friendly, simple and trade facilitative for businesses.

1 min

No. of people averse to govt surveys rises over 2x in 5 yrs

The number of people averse to the surveys by the National Statistical Office (NSO) has more than doubled over the last five years between the 75th National Sample Survey (NSS) round (July 2017- June 2018) and the 79th NSS round (July 2022-June 2023), the Ministry of Statistics and Programme Implementation (MOSPI) said on Friday in a conference organised to discuss the issue of 'non-responsiveness' to its sample surveys.

2 mins

Vivad Se Vishwas 2.0 to ease litigation woes

Scheme to be operational from October 1

1 min

HDB Financial Services board clears IPO plan

The board of HDB Financial Services Ltd, the non-banking arm of HDFC Bank, on Friday approved the listing of equity shares comprising a fresh issue of up to ₹2,500 crore and an offer for sale (OFS).

1 min

Meity may not change value addition target for mobiles under PLI scheme

The Ministry of Electronics and IT (Meity) will not change the value-addition target for manufacturers of mobile devices, which fall under the production-linked incentive (PLI) scheme.

2 mins

ICAI seeks pause on NFRA's revision of audit standards

Presses for discussion with all stakeholders

2 mins

Govt to take retaliatory steps

India informed the World Trade Organisation (WTO) that it has decided to impose retaliatory measures against the European Union's (EU's) steel tariffs that has been in effect since 2018, and was extended till June 2026.

1 min

U-Win portal, expanded AB-PMJAY to be launched in Oct

Prime Minister Narendra Modi will formally launch the expanded Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) scheme and the vaccination tracking portal U-Win next month, Health Minister JP Nadda announced on Friday.

1 min

Respect, capability, prosperity define PM Vishwakarma: Modi

Prime Minister Narendra Modi on Friday asserted that 'Samman, Samarthya, Samridhi' (respect, capability, prosperity) embodies the spirit of the Pradhan Mantri Vishwakarma Yojana scheme.

1 min

First indigenous aircraft carrier INS Vikrant to be put through its paces

The Indian Navy's second aircraft carrier, which happens to be the first one that is indigenously built, joined the Western Fleet in Karwar for joint exercises that include twin-carrier fighter operations.

2 mins

Bombay HC: IT Rules allowing Centre's FCU 'unconstitutional'

Matter was assigned to 'tie-breaker judge' after split verdict in January

1 min

‘India a feature, not a factor, in Sri Lanka election campaign’

Island nation goes to polls today

2 mins

EU plans $39 bn loan for Ukraine

European Commission President Ursula von der Leyen announced plans for a loan of up to $39.1 billion backed by the profits from immobilized Russian central bank assets to help provide more predictable financial support to Ukraine.

1 min

Israeli airstrike on Beirut kills top Hezbollah leader

Death toll at 8; attack comes after Hezbollah fired 140 rockets

2 mins

China mulls removing major homebuying curbs to boost demand

China is considering removing some of the largest restrictions on home purchases after previous measures failed to revive a moribund housing market, according to people familiar with the matter.

1 min

The IMF must end its destructive surcharges

A group of 22 financially distressed countries, including Pakistan and Ukraine, has become the largest source of net revenue to the International Monetary Fund (IMF) in recent years, with payments exceeding the Fund's operating costs.

3 mins

Natural intelligence trumps AI

I recently participated in the \"Middle Eastern North African International Security Conference on Artificial Intelligence\".

3 mins

Sebi allows MFs to buy, sell credit default swaps

The Securities and Exchange Board of India (Sebi) on Friday allowed mutual funds (MFs) to participate as buyers and sellers in the credit default swap (CDS) segment and allowed greater flexibility to boost liquidity in the corporate bond market.

1 min

Defence stocks stage a comeback after steep fall

Defence stocks witnessed a turnaround on Friday after a steep fall in the past two months. Cochin Shipyard surged 10 per cent while Garden Reach Shipbuilders, Mazagon Shipbuilders, and Paras Defence & Space Technologies gained 5 per cent or more.

1 min

LIC MF may launch ₹100 SIPs in October

LIC Mutual Fund plans to launch smaller ticket-size systematic investment plans (SIPs) of ₹100 by the first week of October, said RK Jha, managing director (MD) and chief executive officer (CEO).

1 min

Sebi refuses to disclose instances of Buch's recusal on conflict of interest

The cases where Sebi chairperson Madhabi Puri Buch recused herself due to potential conflict of interest is not \"readily\" available and collating them would \"disproportionately divert\" its resources, the securities market regulator said in an RTI response on Friday.

1 min

Tax edge adds shine to gold ETFs

Shorter holding period to attract smart money into the MF offering

2 mins

Vi needs govt support, tariff hikes: Analysts

AGR order provides visibility for road ahead of debt-ridden telco

2 mins

THALAPATHY AMONG EQUALS

Mass following led to Vijay's rise as India's highest paid actor, so why is he not seen much in ads?

4 mins

iPhone 16 hits stores sans highly awaited AI features

Users will have to download the Apple Intelligence software features over time

2 mins

Reading between the lines of an epic

There are many ways to read the Mahabharata. Like an onion, it opens up in layered, concentric circles of stories, all nested within an invisible labyrinthine web.

3 mins

Crypto ads flood SC's hacked YouTube channel

Court disables channel after videos promoting XRP were displayed

1 min

Andhra changes ghee supplier amid Tirupati laddu row

With Tirupati laddu row snowballing into a major controversy, Karnataka government on Friday issued a circular instructing all temples coming under the Hindu Religious Institutions and Charitable Endowments Department, to maintain quality in 'prasada' prepared there.

1 min

Apple harvest: iPhone 16 sales up 15-20% over iPhone 15 on Day 1

The highly anticipated launch of Apple iPhone 16 series has generated significant buzz in India on Friday, with serpentine queues at flagship stores and quick-service platforms offering deliveries for the first time.

1 min

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