CATEGORIES

Economics Nobel for inequality researchers

Trio wins prize for work on gaps in prosperity among nations, and how institutions affect economic progress

ITC rule:Bombay HC seeks response from state's revenue dept

The Bombay High Court has recently granted an interim stay on a court order asking Enzene Biosciences Ltd to reverse proportionate Input Tax Credit (ITC) on interest earned on fixed deposits(FDs), and directed the pharmaceutical company to pay 10 per cent of the total tax amount.

India pulls out top envoy, expels 6 Canada diplomats

India's diplomatic relations with Canada hit a fresh low on Monday following New Delhi's decision to withdraw its High Commissioner, Sanjay Kumar Verma, along with other diplomats and officials, from the North American nation and expel six of its diplomats.

ITC rule: Bombay HC seeks response from state's revenue dept

The Bombay High Court has recently granted an interim stay on a court order asking Enzene Biosciences Ltd to reverse proportionate Input Tax Credit (ITC) on interest earned on fixed deposits (FDs), and directed the pharmaceutical company to pay 10 per cent of the total tax amount.

Ahead of elections, Mumbai entry points go toll-free for light vehicles

The Maharashtra state government announced a toll exemption for all light motor vehicles (LMVs) crossing Mumbai's five entry points on Monday. While the move is expected to help decongest these locations, analysts indicate that tolling concession agreements will need to be addressed.

Up to 65 weak UCBs to exit turnaround regime by Mar

Ahead of the new prompt corrective action (PCA) framework for Urban Cooperative Banks (UCBs), about 60-65 weak UCBs are expected to exit the current supervisory regime by March 2025 on improvement in performance.

RBI approves Tata Cap-TMFL merger

The Reserve Bank of India (RBI) has approved the merger of Tata Capital, an unlisted entity, with Tata Motors Finance (TMFL), paving the way for the formation of India's 12th largest non-banking finance company.

FPI investment in debt sees change of fortune in Oct

₹2,798 cr of sales so far in Oct; 1st net outflow since April

NEW BANDHAN CEO TO TAKE OVER IN NOVEMBER: Derisking loans may be first order of business

Partha Pratim Sengupta, who will take charge as managing director and chief executive officer (MD and CEO) of Bandhan Bank in early November, has his task cut out.

FM: Internship scheme looks to bridge gap in employability

The Prime Minister Internship Scheme is aimed at bridging the employability gap for students coming fresh out of college, Finance Minister Nirmala Sitharaman said on Monday.

GST compensation cess to be discussed at GoM meeting

A 10-member Group of Ministers (GoM) led by Minister of State for Finance Pankaj Chaudhary is set to meet for the first time on Wednesday to discuss the future of GST compensation cess after the loan repayment period ends in March 2026, according to multiple sources familiar with the matter.

Retail inflation rises to 5.49%, highest in CY24

Higher food prices, fading base effect behind surge; WPI inflation rises, too

‘RBI policy of not allowing crypto is a good approach'

India needs to improve on reducing regional inequalities and invest in human capital in order to become a developed country by 2047, AMIYATOSH PURNANANDAM, economist, University of Michigan, says in an interview with Ruchika Chitravanshi in New Delhi. He adds that the government needs to incentivise good long-term risk taking by banks to push private investment. Edited excerpts:

Voltas, Daikin among 38 white goods PLI bidders

As many as 38 companies, including Voltas, Daikin, Orient, and Blue Star, have applied for production-linked incentive (PLI) for white goods after the government reopened the application window for the scheme for the third time.

GAMES OF SKILL VS CHANCE - Framework looks to clarify difference

Will be sent to Meity for feedback to be added to 2nd draft

India still lags US, China in 5G rollout

India's journey with 5G still has a long way to go. The country ranked 33 out of 39 in the 5G Connectivity Index for the second quarter of 2024, released by GSMA Intelligence. However, in areas like 5G revenue growth, data affordability, and video quality, India ranks among the best in the world.

Retail net up5% at 2.9K cr; flagged weak growth in fashion, lifestyle

Reliance Retail Ventures on Monday reported a 5.2 per cent rise in net profit at 2,935 crore in the September quarter of 2024-25 (Q2FY25).

Higher tariffs see Jio profit at ₹6.5K cr

Jio Platforms Ltd (JPL), which runs the country's largest mobile network operator Reliance Jio, on Monday reported a sharp 23.4 per cent year-on-year (Y-o-Y) increase in net profit to ₹6,539 crore for the second quarter (July-September) of FY25.

Where will dogs go?' What Ratan Tata asked Chandra on Bombay House refit

Late Ratan Tata always ensured employees are taken care of along with the well-being of their families across the Tata group companies, which shaped a number of leaders across the conglomerate, and there really was no one like him, Tata Sons Chairman N Chandrasekaran said on Monday.

Ericsson bags multibillion $ 5G contract from Airtel

Swedish telecom gear maker Ericsson has received a multi-billion dollar contract from Bharti Airtel for selling 5G equipment, two sources familiar with the matter said.

India Inc biggies set to invest $800 billion in a decade

S&P report also flags execution risk, and borrowing heavily for tech with unproven commercial payoff, such as green H2

SC revives Adani's ₹27K cr plan for KSK Mahanadi resolution

The Supreme Court (SC) on Monday revived the insolvency resolution process against 1,800-Mw KSK Mahanadi project (KMP) by setting aside the Telangana High Court's (HC) order that deferred the insolvency process.

PV sales growth likely to be below 5% in FY25: Siam

The flat sales of passenger vehicles (PVs) in the first half of 2024-25 came as a \"slight surprise\" for the automobile industry, but it is expecting a rebound in the second half due to the festival season, Shailesh Chandra, President, Society of Indian Automobile Manufacturers (Siam), said on Monday.

HCLTech improves guidance slightly after earnings beat

HCLTech, India's third-largest IT services company, has raised the lower end of its FY25 revenue growth guidance by 50 basis points, bolstered by increased client spending. The Noida-headquartered firm is now estimating revenue growth between 3.5 per cent and 5 per cent.

Over-reliance on AI poses financial stability risks: Das

Reserve Bank of India (RBI) Governor Shaktikanta Das (pictured) on Monday warned that while artificial intelligence (AI) and machine learning (ML) have opened new avenues for business and profit expansion in the financial sector, over-reliance on these technologies could pose risks to financial stability.

Oyo may raise $200 mn at 2x valuation of $5 bn

Fundraise to help it take over budget hotel chain Motel 6

RIL profit slips 5% in Q2 on weak fuel biz

Declines for third quarter in a row; misses Street estimates again

Ratan Tata: An Environmentalist's Homage

Our first interaction with the late Ratan Tata was not pleasant. Delhi was choking with pollution, and our campaign on the right to clean air had been launched. Diesel was a fuel that was being indicted for emissions of tiny particulate matter PM2.5. This all was new in the mid-1990s, as science was discovering how fuel and vehicle quality, when improved, would lead to an unexpected outcome of smaller particulates, which could go deep into our lungs. So, my late colleague Anil Agarwal and I wrote about the dangers of diesel. And we promptly got a defamation notice of some consequent sum of money from Tata Motors. That was when Ratan Tata had just launched his car enterprise. It was riding on the change of fuel - diesel, which would give his company an edge over the petrol variants of Maruti Suzuki and others. We were not the kind to back down. Nor was he. It was a messy battle in the highest court of the country.

PRIME MINISTER INTERNSHIP SCHEME: Over 155,000 apply within a day

Shortlist of candidates identified by Al to be shared with firms on Oct 15

Music in streaming series hits the right note

Indians first saw streaming video on YouTube in 2008. Disney+ Hotstar arrived in 2015. However, streaming shows and films truly took off only after the entry of Netflix and Amazon Prime Video in 2016. From almost nothing, the market has grown to ₹31,000 crore in advertising and pay revenue by 2023. Currently, over 524 million Indians watch streaming video, according to Comscore data. This growth is creating several opportunities and raising some challenging questions for other parts of the entertainment ecosystem.