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Finance

Budget: Govt considering to relax 45 days MSME payment rule to prevent sourcing shift by large corporates

New Delhi: The government is contemplating to relax the requirement for making payments to MSMEs within 45 days of purchasing goods and services to prevent large corporations from seeking alternative sourcing options, media reported.

Bandhan Bank launches trade products to facilitate global business transactions

Kolkata: Bandhan Bank Tuesday announced that it has launched an array of trade products to facilitate global business transactions.

MobiKwik gains market share, becomes largest wallet player

Mumbai: MobiKwik, one of India's largest digital financial products and services platforms, has achieved the largest number of PPI Wallet transactions by value for the months of April and May 2024.

Indian Market: Sensex slips 36.22 points

The Indian equity market witnessed a negative trend for the fourth consecutive session on Monday with BSE Sensex slipping 36.22 points to settle at 79,960.38.

India's renewable revolution gains momentum: IPOs to propel transition from fossil fuels to a green future

New Delhi: Pursuing its commitment to achieve net zero emissions by 2070, India is gradually transitioning away from fossil fuels and embracing renewable energy sources.

NCLT warns Byju's to pay salaries to workers or face an audit

Bengaluru: The National Company Law Tribunal (NCLT) has directed Byju's to pay its employees' salaries, whether or not the company has access to funds raised through its rights issue, media reported.

Centre to ease Visa application process for PLI sector manufacturers

New Delhi: The government is working to streamline the application process for Indian business visas for companies that have established manufacturing units in the 14 sectors covered by the production-linked incentive (PLI) scheme but are not beneficiaries of the scheme, media reported.

Investing in the Future: Opportunities in Commodity and Options Markets

The commodity and derivatives markets offer exciting investment opportunities for investors looking to modify their portfolios. With the right strategies, these markets can provide leveraged returns, portfolio protection, and consistent income.

FIIs turn bullish on financial services; acquire shares worth Rs 8,100 cr in late June

Mumbai: Foreign institutional investors (FII) have shown a marked shift towards optimism in the financial services sector, purchasing shares valued at over Rs 8,100 crore during the latter half of June, reported Moneycontrol.

Centre, telecom regulator will not intervene in Airtel, Reliance Jio, Vodafone Idea tariff hike: Report

New Delhi/IBNS: The Government of India and the telecom regulator will not interfere or stop telecom companies from increasing prices, Economic Times reported, citing officials in the know.

CMF by Nothing announces Rashmika Mandanna as brand ambassador, unveils designs of CMF Phone 1

New Delhi/IBNS: CMF, a sub-brand of London-based tech company Nothing Technology Limited, has announced its partnership with Indian actress Rashmika Mandanna.

Global IndiaAI Summit: Ashwini Vaishnaw says India to roll out Rs 10,000 crore plan to procure AI GPUs in 2-3 months

New Delhi/IBNS: Union Information Technology Minister Ashwini Vaishnaw said Wednesday that the Indian government will roll out the Rs 10,000 crore India AI Mission in the next two to three months under which it will help procure computing power for the domestic industry run artificial intelligence (AI) systems.

Bajaj Housing Finance launches Sambhav home loans

Kolkata: Bajaj Housing Finance launched affordable and accessible housing finance product Sambhav Home Loans.

L&T bags $3.9 billion contracts from Saudi Aramco for 2 gas projects

Riyadh: India's largest infrastructure firm L&T has secured contracts exceeding $4 billion from Saudi Aramco for the expansion of its gas projects.

No bids for Jammu Kashmir lithium block in second auction attempt: Report

New Delhi: India's Jammu and Kashmir received no bids in a second attempt to auction mining rights for lithium reserves discovered last year, Reuters reported citing a source with direct knowledge of the matter.

Poverty in India declines from 21.2% in 2011-12 to 8.5% in 2022-24: NCAER research

New Delhi: Poverty in India is estimated to have declined to 8.5% in 2022-24 from 21.2% in 2011-12, despite the challenges posed by the pandemic, according to a research paper by the economic think tank NCAER.

UPI payments now available in UAE after NPCI International Payments and Network International join hands

New Delhi: UPI payments are now available in the UAE through a partnership between NPCI International Payments Ltd and Network International, a key player in digital commerce across the Middle East and Africa.

India's coal production jumps 14.49% to 84.63 MT in June

New Delhi: The country's coal production surged by 14.49% to 84.63 million tonnes (MT) in June, up from 73.92 MT in the same period last fiscal year, according to the provisional government data.

Income Tax Budget 2024 expectations: Will Nirmala Sitharaman introduce new tax breaks or modify existing ones?

New Delhi: As the Union Budget 2024 approaches, taxpayers and financial experts are keen to see if new tax deductions will be introduced or existing ones modified.

Indian Railways achieves 135.46 MT freight loading in June2024

During the month of June 2024, originating freight loading of 135.46MT has been achieved against loading of 123.06MT in June 2023, which is an improvement of approx 10.07% over the last year, the Ministry of Railways said on Wednesday.

Indian social media app Koo shuts down after funding talks fail

Bengaluru: Indian social media app Koo, once considered a potential future rival to the micro-blogging platform X, has shut down today, is closing down, founder Aprameya Radhakrishna announced on LinkedIn on Wednesday.

Airtel, Reliance Jio effect tariff hike from today, take a look at new plans

Mumbai/IBNS: Prepaid recharge plans in India are getting expensive as the hiked tariffs earlier announced by Reliance Jio and Bharti Airtel go live today, Wednesday (July 3).

India’s rising forex reserves a safeguard against flight of capital, global uncertainties: NCAER Paper

New Delhi/IBNS: Since the 1991 shock, India’s steady accumulation of foreign reserves which stood at over USD 653 billion by June, comfortably surpassing the conventional thresholds for adequacy used by IMF and others, is set to act as a bulwark against any adverse geo-strategic and geo-economic factors like the Israel-Hamas and Russia-Ukraine conflicts. 

Air India to set up flying training organisation in Maharashtra's Amravati, make it operational by early 2026

New Delhi/IBNS: Air India on Monday (July 1) announced that it will set up a flying training organisation (FTO) in Maharashtra’s Amravati, and make it operational by early 2026.

Punjab needs to junk free power, mono-culture farming to overcome economic woes: NCAER Paper

New Delhi/IBNS: Punjab, which was the beacon of Green Revolution and has been the ‘food bowl’ of India, needs to shed its mono-culture farming, scrap subsidies like free power and water and reorient its industries and services to overcome slow economic growth, high debt, societal challenges like the drug menace and environmental degradation.

Indian Railways achieves 135.46 MT freight loading in June 2024

New Delhi: The Indian Railways achieved originating freight loading of 135.46 MT during the month of June 2024 compared to 123.06MT in June 2023, up 10.07%.

India sells 44,800 tons of unprocessed aluminum to Russian companies

The trade ties between India and Russia have strengthened with volume touching  $65.7 billion in the financial year ending in March 2024, media reports said.

Sensex crosses 80,000 mark for the first time

Touching a landmark moment, the 30-stock Sensex has crossed the 80,000 mark on Wednesday.

Project Nexus: Reserve Bank of India joins ASEAN nations to create platform for instantaneous cross-border payments

Reserve Bank of India has been collaborating bilaterally with various countries to link India’s Fast Payments System (FPS) – the Unified Payments Interface (UPI), with their respective FPSs for cross-border Person to Person (P2P) and Person to Merchant (P2M) payments.

Education startup Unacademy lays off 250 employees in fresh round

Bengaluru: SoftBank-backed edtech startup Unacademy has laid off 250 employees in a new round of company-wide layoffs, media reported.