CATEGORIES

New offshore-mining rules allow lease surrender after 10 years

Paving the way for India's first offshore mineral auction, the Centre has notified the Offshore Areas Operating Right Rules, 2024, aimed at regulating the exploration and production of minerals in offshore regions.

FM approves raising of posts of CGMs public sector banks

Finance Minister Nirmala Sitharaman has approved the creation of Chief General Manager post (CGM), below board level, in five more nationalized banks including Bank of Maharashtra, Central Bank of India, and UCO Bank.

SBI to outsource 40% onsite ATMs

State Bank of India (SBI) is planning to outsource the maintenance of 10,000 of its on-site automated teller machines (ATMs).

More unsecured loans of private banks turn NPA

Most private banks reported significant slippages to non-performing assets (NPA) from unsecured loans like credit cards in the July-September period (Q2FY25).

Bajaj Housing Fin profit up 21% in 1st result since listing

The net profit of Bajaj Housing Finance, a non-banking financial company (NBFC), surged 21 per cent year-on-year (Y-o-Y) to ₹546 crore in the second quarter of FY25 (Q2FY25) from ₹451 crore in Q2FY24, aided by healthy growth in total income.

Outward remittances under LRS drop 5%

Outward remittances under the Reserve Bank of India's Liberalised Remittance Scheme (LRS) fell 4.97 per cent year-on-year (Y-o-Y) to $3.2 billion in August 2024 compared to $3.37 billion last year due to tepid growth in the international travel segment.

Pvt banks leading in AI adoption

Private sector banks in India are taking the lead in the adoption of Artificial Intelligence (AI) in areas like fraud detection, customer segmentation, and chat automation, according to a Reserve Bank of India (RBI) study.

RBI CLAMPDOWN Navi nixes ₹100 crore bond sale

Bengaluru-based non-banking finance company (NBFC) Navi Finserv cancelled its planned bond issuance of ₹100 crore, which was scheduled for bidding on Monday, two sources privy to the development said.

RBI net sold $6.5 bn in August

Reverse buying, selling $ to stabilise ₹ amid carrytrade unwinding

FinMin can't treat DRT officers as subordinates: SC

The Supreme Court (SC) on Monday reprimanded the finance ministry and sought an explanation from it for asking the debts recovery tribunals (DRTs) to collect data for the ministry.

250-bp rate hike lowered demand, inflation by 160 bps

Durable alignment with target in sight, says report

Brics to focus on closer energy ties among members

The 16th Brics Summit is expected to see more focus on creating a sharper energy policy for the grouping that ensures closer partnership among members in both energy security and energy transition, official sources said.

Poonawalla's bold script: 50% stake buy in Dharma for ₹1K cr

Karan Johar to retain remaining 50% ownership

Career Launcher parent plans to test international waters

CL Educate, the parent company of coaching centre Career Launcher, is planning expansion into key international markets such as Singapore, Indonesia, West Asia and North America.

Celeb-bait ads make Meta turn to facial recognition tech to combat scams

Global launch to help with faster account recovery

UltraTech Q2 profit falls 36% on lower revenue from ops

Profit stands at ₹820 crore, revenue down 2.4% at ₹15,634.73 crore

CPSE dividend likely to cross record FY24 tally

₹29,000 cr in kitty so far; govt may garner ₹65,000 cr in FY25

RBI report confident of festival boost to economy

The Reserve Bank of India's (RBI's) State of the Economy report for October acknowledged a slowdown in some high-frequency indicators but expressed confidence in a recovery, aided by consumption demand during the festival season.

FPI selling tops $10 bn in Oct amid China shift

If trend holds, this will be first monthly outflows of over $10 bn

CPSE dividend likely to cross record FY24 tally

₹29,000 cr in kitty so far; govt may garner ₹65,000 cr in FY25

Economy: Back To 'Normal'?

What seemed like a one-off issue is starting to look like a trend. Growth in collection from goods and services tax (GST) fell to 6.5 per cent, its lowest level in 40 months. At 6.5 per cent, GST collection barely tracked inflation, which means there was no volume growth. The trade deficit widened to $29.7 billion in August from $24.2 billion a year earlier. India's merchandise exports, its weakest spot and a tell-tale sign of India's poor competitiveness, declined to $34.7 billion in August from $38.3 billion in the same month last year. The annual gross domestic product (GDP) growth rate is down from 7.8 per cent to 6.7 per cent. The index of industrial production (IIP), which tracks the output of eight core industries, such as coal, oil, and electricity, was negative in August for the first time in three years. In September, car sales fell by 19 per cent over the same period last year.

Subjecting Employees To Excess Stress Is Illegal

The 1993 movie A Few Good Men tells the story of two U.S. Marines court-martialled for the death of a fellow Marine, Private Santiago, at Guantanamo Bay, Cuba.

What Cyber Insurance Can Do For You And What It Can't

In today's digital age, where businesses and individuals increasingly rely on technology, cyber insurance has become a vital tool to protect against financial losses and reputational damage. However, companies must understand the various facets of cyber insurance in order to effectively leverage it.

Reserve Bank walks the talk

The NBFCs, which have been punished or are likely to be punished, should bring down the usurious interest rates, high fees, and penalties without losing time

DRAGON FIRE

Indian steel is feeling the heat from China. How can India avoid becominga dumping ground?

Business that's asked to play safe

The central bank has (once again) cautioned shadow banks that there are redlines, reports RAGHU MOHAN

India falls in average media data speed: Ookla Speedtest

Despite having one of the fastest rollouts of 5G as well as being the highest consumer of data in the world, India has had the sharpest fall in ranking in average median data speeds.

Hoax call menace: Over 20 flights disrupted

The menace of hoax calls to major Indian airlines continued on Sunday with more than 20 flights of IndiGo, Vistara, Air India, and Akasa Air receiving fresh bomb threats, disrupting flight operations and resulting in delays or diversions for thorough security checks.

India lowers reliance on Canada for pulses imports

India's diplomatic conflict with Canada has cast a shadow on the import of two major pulses: matar(peas) and masur(lentils). Relations between the two nations worsened since the June 2023 killing of Canadian national Hardeep Singh Nijjar, with Canada accusing India of involvement - claims India denies.

Unpacking India's hunger crisis

India is currently the world's fastest-growing economy. However, the recent Global Hunger Index (GHI) reveals a worrying reality: In 2024, India has a \"serious\" level of hunger among the 127 nations assessed.