IDBI stake sale: Last deadline for bid submission likely to be extended
News Delhi: The last date for submitting bids for strategic disinvestment in IDBI Bank is likely to be extended to January, media reports said.
Finance
November vehicle retail sales move up by 26 pc
New Delhi: The total vehicle retail sales registered a 26 per cent year on year growth in the month of November this year, Federation of Automobile Dealers Associations (FADA) said on Friday.
Indian Market: Sensex moves up 120 pts
Mumbai: The BSE Sensex on Friday gained 120 points to open at 62,690.86 as buying was seen in Commodities, Energy and Consumer Discretionary Goods and services stocks.
Rupee up 22 paise against USD
Mumbai/UNI: The Rupee on Friday advanced 22 paise to 82.19 against the US Dollar on selling of US Dollars by bankers and exporters, dealers at Foreign Exchange said.
Volvo Cars India to leverage India's IT talent to turn all-electric firm by 2030
Kolkata/IBNS: Volvo Cars India aims to leverage India's IT talent to fulfill the digital needs of the company’s cars as it progresses towards becoming an all-electric company by 2030.
BYJU's said to seek easier payment terms for its $1.2 billion loan: Report
Mumbai: India’s most valuable startup BYJU's is seeking to restructure a $1.2 billion loan amid financial losses and cost-cutting measures, Bloomberg reported.
Finance Ministry allows PSUs to invest in debt schemes of all mutual funds
New Delhi: The Finance Ministry through a memorandum on Tuesday allowed Public Sector Undertakings (PSUs) to invest in debt schemes of all mutual funds.
Amazon plans to lay off 20,000 employees after over-hiring during pandemic: Report
Seattle/IBNS: E-commerce giant Amazon might lay off around 20,000 employees including corporate executives in the coming months, media reports said.
Govt appoints Tata Sons Chairman N Chandrasekaran as Chair of G20 biz dialogue forum, CII assumes charge as B20 India Secretariat
New Delhi/IBNS: Tata Sons Chairman N Chandrasekaran has been appointed by the government as the Chair of B20 India, the official G20 dialogue forum with the global business community.
Indian Market: Sensex down 215.68 pts
Mumbai: The BSE Sensex on Wednesday tumbled down 215.68 points to settle at 62,410.68 because of RBI' s hawkish stand in bi-monthly RBI policy alongwith weak Asian Market.
RBI raises repo rate by 35 bps, lowers GDP growth forecast to 6.8%
Mumbai/UNI: The Reserve Bank of India (RBI) on Wednesday raised policy repo rate by 35 basis points (bps) to contain inflation which has been above its tolerance level.
Cyrus Mistry's sons join Shapoorji Pallonji Group: Report
Mumbai: Firoz Mistry, 26, and Zahan Mistry, 24, sons of the late Cyrus Mistry have formally joined the Shapoorji Pallonji (SP) Group, Economic Times reported.
Gautam Adani among 3 Indian billionaires to feature in Forbes' 2023 philanthropy list
New Delhi: Gautam Adani, the chairman of Adani Group, is among the three Indian billionaires to feature in Forbes' philanthropy list this year, media reports said.
Fitch maintains India's growth forecasts at 7 pc for FY23
Fitch Ratings has retained India's economic growth forecast at 7 percent for the current fiscal (FY23).
Eminent economist and former Union Minister Yoginder K Alagh passes away
Ahmedabad: Former Union minister and economist Yoginder K Alagh passed away at his residence in Ahmedabad on Tuesday, reported The Indian Express.
Amazon likely to layoff 20,000 staff in upcoming months: Reports
E-commerce hub Amazon might lay off around 20,000 employees, including corporate executives, in the upcoming months, media reports said on Wednesday.
RBI hikes repo rate by 35 basis points
Mumbai: The Reserve Bank of India on Wednesday announced that the repo rate has been hiked by 35 basis points to 6.25 percent.
Govt says foreign funds allowed to own 51 pc stake in IDBI Bank: Report
New Delhi/IBNS: The Centre will allow a consortium of foreign funds and investment firms to buy and own over 51 percent of IDBI Bank Ltd, the government clarified on Tuesday, said a media report.
Total coal output up 11.66 pc in Nov to 75.87 MT
New Delhi: India’s total coal production increased by 11.66 percent to 75.87 Million Tons (MT) from 67.94 MT during November 2022 as compared to November 2021, the Ministry of Coal said Tuesday.
4-lane Dimapur to Kohima Road to be completed this year: Nitin Gadkari
New Delhi/IBNS: The 4-lane Dimapur to Kohima Road (Package-I) in Nagaland will be completed this year, Union Road Transport Minister Nitin Gadkari said Tuesday.
Axis Mutual Fund launches ‘Axis Long Duration Fund’
New Delhi: Axis Mutual Fund, one among the fastest growing fund houses in India, announced the launch of their New Fund Offer – Axis Long Duration Fund.
UPI transactions witnesses 650 pct rise at semi-urban and rural stores: PayNearby
New Delhi: PayNearby,a branchless banking and digital network,on Tuesday said that there was a growth of 25 percent and 14 percent in value and volume respectively, in assisted financial transactions across semi-urban and rural retail counters in India in 2022.
Rupee down 43 paise against USD
Mumbai/UNI: The Rupee on Tuesday slid 43 paise, breaching 82 level at 82.22 against the US Dollar on rising demand for US Dollars by bankers and importers, dealers at Foreign Exchange said.
Tork Motors partners with CREDR to facilitate exchanges of used two-wheelers while buying Kratos
Pune: India’s first and fast-growing electric motorcycle manufacturer, Tork Motors has partnered with CredR for a first-of-its-kind offer for an electric two-wheeler.
SBI surpasses Rs. 5 trillion personal banking advances
New Delhi: The State Bank of India surpassed the milestone of Rs. 5 Trillion Personal Banking Advances on November 30, 2022.
ICAO finds SpiceJet’s operations, safety processes 'strong'
New Delhi/UNI: SpiceJet on Monday said that the International Civil Aviation Organisation (ICAO) has found the operations, safety processes and systems of the budget carrier 'strong' in its audit.
Govt notifies electoral bond scheme 2018
New Delhi: The government on Saturday notified the electoral bond scheme 2018.
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Former RBI Gov Raghuram Rajan says central bankers should gear up for low inflation: Report
Former Reserve Bank governor Raghuram Rajan Friday warned that the global economy could go back to a low inflation regime and central bankers implementing restrictive monetary policies should keep that in mind, according to a Bloomberg report.
Power Ministrywaives inter-state transmission charges for new hydro-power projects
New Delhi/IBNS: The Power Ministry Friday announced a waiver of Inter-State Transmission system (ISTS) charges on the transmission of electricity generated from new hydro-power projects for 18 years.