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Friday, June 30, 2023

World Bank OKs $1.5bn for India's low carbon energy sector

The financing will help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen and stimulating climate finance for low-carbon energy investments, the bank said in a statement.

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Sensex up 803 pts nears 65000 as FPIs rush in

Backed by strong buying by foreign investors, investors on Dalal Street took the sensex to a new life-high on Friday for the third session this week. The sensex gained 803 points, or 1.3%, to close at 64,719. The high for the day was at 64,769 points, which was the all-time peak for the index.

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HDFC merger marks rise of private banks



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Old order moves on as twins set for new innings



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Vedanta will take relook at alloy biz



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Core sector growth stable at 4.3% fiscal deficit 11.8%

Growth in the eight key infrastructure sector remained stable in May, although electricity generation, crude oil and natural gas production contracted.

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Interest rate hike for post-office plans five-year recurring deposits

The government has left interest rates on most small savings schemes unchanged, barring five-year recurring deposits, which will fetch 6.5% during the July-September quarter 30 basis points higher than the current level.

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CBDT to 'duly consider' PAN Aadhaar linking requests where fees paid by June 30

The income tax department on Friday said it will "duly consider" cases where linking of PAN with Aadhaar is yet to happen despite individuals giving their consent and having paid the fee. The last day for linking PAN with biometric Aadhaar on paying a late fee of Rs 1,000 is June 30, 2023. From July 1, 2023, PAN will become inoperative for individuals who have failed to link it with Aadhaar and TDS and TCS will be deducted at a higher rate.

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Thursday, June 29, 2023

Forex spend tax: FAQs awaited on many aspects



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Hindujas IndusInd may end up as RCaps owner



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Chaos reigns on bank locker update

With Friday being the last date for updating 50% of locker agreements, banks are urging customers to sign the new contracts. But lack of uniformity, even between branches of the same bank, is proving to be a hurdle.

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Government plans rating of cars from October



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Wednesday, June 28, 2023

High promoter pay irks investors



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RTP to invest a third of $1bn fund in India



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Sensex tops 64000 Nifty 1 9000 on strong eco FII buying



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No TCS on remittances up to Rs 7 lakh credit card spending overseas



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Oil prices jump 3% on bigger-than-expected decline in US crude storage



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Tuesday, June 27, 2023

SBI starts outsourcing to wholly owned operations support



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Dutch fund values Byjus at $5 billion down 75% since Oct



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HDFC-HDFC Bank merger on July 1



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ED arrests Supertech's chairman R K Arora in money laundering case

The Enforcement Directorate (ED) arrested real estate company Supertech's chairman and owner R K Arora on money-laundering charges on Tuesday, official sources said.Arora was taken into custody under the criminal sections of the Prevention of Money Laundering Act (PMLA), following a third round of his questioning at the federal agency's office here, they said.

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Monday, June 26, 2023

Auditors need to report frauds



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Higher pension deadline moved 15 days to July 11

The Employees' Provident Fund Organisation on Monday extended by 15 days the last date for employees to opt for higher pension, till July 11.

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'Ex-ICICI Bank CEO Kochhar got Rs 64 crore illegal gratification'



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Sunday, June 25, 2023

Rupee trades flat against US dollar in early trade



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Adani eyes Rs 90000 crore EBITDA in 2-3 yrs



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AI startups buck funding winter grow share in 23



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Credit card dues cross Rs 2 lakh crore for the first time



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India to remove retaliatory customs duties on eight US products

During the recent state visit of Prime Minister Narendra Modi to the US, both countries decided the termination of six WTO (World Trade Organisation) disputes and the removal of these retaliatory tariffs on certain US products. In 2018, the US imposed an import duty of 25 per cent on steel products and 10 per cent on certain aluminium products on grounds of national security. In retaliation, India in June 2019 imposed customs duties on 28 American products.

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Wednesday, June 21, 2023

NIIF in talks to raise $244 million for infrastructure

NIIF is India’s first major attempt to develop a capital-raising structure on home soil, to tackle a shortfall in infrastructure spending. Investors include Abu Dhabi Investment Authority and Singapore’s Temasek Holdings Pte, according to its website.

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Global money flocks to India as PM Modi hobnobs with Musk Dalio

PM Modi's visit to the US is being timed well with India's buzzing economy and equity benchmarks at record highs. The country's burgeoning consumer market and the pandemic-propelled retail investing boom have driven almost $10 billion in net foreign inflows into Indian stocks since March, making it the highest in any quarter since 2020.

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US to ease visas for skilled Indian workers as PM Modi visits

The US state department is reportedly set to announce a pilot program that will allow a small number of Indians and other foreign workers on H-1B visas to renew them in the United States, without having to travel abroad. Indian citizens are the most active users of the US H-1B program, and made up 73% of the nearly 442,000 H-1B workers in FY2022.

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UK's Lloyds to set up tech centre in Hyderabad will hire 600



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Amazon to accept Rs 2000 notes on CoD



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Corp filing site's glitches hit due diligence market analytics



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Nandan Nilekani donates Rs 315 crore to IIT Bombay



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Tuesday, June 20, 2023

Sensex hits record high of 63588.31 in early trade



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Rupee falls 1 paisa to 82.10 against US dollar



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Govt clears Rs 22000cr Micron investment for chip project



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Twitter employees sue social media company over bonuses they say weren't paid despite promises

Employees are suing Twitter over tens of millions of dollars in bonuses they say the social media company failed to pay despite promises it would.The lawsuit filed Tuesday in federal court in San Francisco claims that in the month's leading up to billionaire Elon Musk's acquisition of the company, executives including former finance chief Ned Segal “repeatedly” promised employees that 50% of their 2022 bonuses would be paid.

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Apollo expands advanced colorectal robotic surgery programme

Apollo expands its Robotic Colorectal Surgery Programme across six cities- Chennai, Hyderabad, Bengaluru, Delhi, Mumbai and Vishakhapatnam. Apollo’s collective robotic colorectal experience has surpassed over 1000 procedures.

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Monday, June 19, 2023

Irdai challenges stay on Sahara Life policies transfer to SBI Life



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BYJU's lays off close to 1000 employees across all departments

Edtech major BYJU's has laid off close to 1,000 employees across departments as part of its restructuring process, sources aware of the development said on Monday.The fresh round of firing comes at a time when the company has entered into a legal battle with lenders in the US for USD 1 billion term loan B.

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India UK conclude another round of talks on free trade agreement



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Tata AIA Life FY23 net income jumps to Rs 506 cr

Tata AIA Life Insurance has reported a multi-fold increase in net income at Rs 506 crore in FY23. The company had posted a net income of Rs 71 crore in the year-ago period.

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Sunday, June 18, 2023

Rupee falls 6 paise to 81.96 against US dollar



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Net direct tax collection rises 11% to about Rs 3.80 lakh crore: Finance ministry



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Reliance may earn $10-15 bn revenue from new energy biz by 2030



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Petrol diesel sales fall as monsoon sets in



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Peak power demand in June may not touch projected 229GW mark

Peak power demand is unlikely to touch or cross 229GW in summer this year due to unseasonal rains and the after-effects of cyclonic storm Biparjoy in the country, say industry experts.

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Dow soars over 1,300 pts, Sensex 900 pts

Indian markets surged on Tuesday, with the Sensex closing above 80,000 points, fueled by a global rally following Donald Trump's victory...