BusinessLine (Chennai)
RBI turns hawkish, raises repo rate by 25 bps to 5.5%
The Reserve Bank of India’s ratesetting panel, after a gap of nearly four years, kicked off a fresh ratehike cycle on Wednesday. The central bank raised the repo rate by 25 basis points (bps) to 5.5 per cent amid rising inflationary pressures driven...
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Govt weighs delaying Adani’s Mumbai airport shift plan
An extension of the October 26 deadline for shifting flights from Mumbai airport to Navi Mumbai airport, along with additional incentives for airlines, are among the proposals being considered to resolve the standoff between airlines and Adani...
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Air India, Express may share key teams in cost-cutting push
Tata Sonsled Air India Group is examining a proposal to integrate some key departments of Air India with those of Air India Express to reduce duplication and costs, sources told businessline. The proposal envisages common teams for identified...
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RBI seen raising repo rate by 25 basis points this week
Bankers expect the RBI’s Monetary Policy Committee (MPC) to raise the policy repo rate by 25 basis points (bps) on Wednesday, with a majority also expecting the MPC to deliver a cumulative 5075 bps rate hike by the end of FY27, according to a poll of...
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Equity bulls have a new competitor in global bonds
‘…bond markets are continuing to function in an orderly manner’ — this was the IMF’s reading of global bond markets last week, even as yields were surging across major economies. Economist and Allianz Chief Economic Advisor Dr Mohamed ElErian...
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Centre fortifies AI mission with sovereign compute pool
The Centre is moving to build a pool of governmentcontrolled artificial intelligence (AI) ecosystem by adding 10,000 GPUs of computing capacity, according to sources. The government is working with the Centre for Development of Advanced Computing...
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ITC reliefs top GST Council agenda for October 7 meeting
The GST Council is expected to consider a proposal to unblock Input Tax Credit (ITC) for employee insurance policies, outdoor catering, free samples and goods destroyed or written off. The proposal also leaves the decision on unblocking ITC for motor...
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CAFE-III norms notified, push for fuel-efficient PVs
After much deliberation since April 2024, the Centre on Wednesday notified the third phase of Corporate Average Fuel Economy (CAFEIII) norms that end the debate of small versus big cars or electric vehicles versus nonEVs by replacing the proposed...
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Rosatom in talks with RIL, Adani, NTPC for N-projects
Russia’s stateowned nuclear energy corporation Rosatom is in talks with some of India’s biggest corporate and governmentowned power companies, including the Adani Group, Reliance Industries, the Jindals and NTPC. The company is looking to...
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Noel Tata moots merger of 2 group firms with Tata Sons to keep it private
Tata Trusts Chairman Noel Tata has proposed the merger of two Tata Group companies with Tata Sons Private Ltd (TSPL) in an effort to keep the holding company private and outside the ambit of the Reserve Bank of India’s regulations governing upperlayer...
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‘US trade deal could shield India from 100% tariff risk’
An IndiaUS trade deal could protect India from the full 100 per cent tariff authorised under the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, while also shielding it from potential action in the ongoing Section 301 investigation into...
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New-age IPOs: Five years on, still show-me stories
“Show me the money,” the memorable line from Tom Cruisestarrer Jerry Maguire, could well be the market’s refrain for India’s newage IPOs five years on. Back in 2021, when a clutch of these companies hit the stock market, investors were asked to look...
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US tariff threat: India ‘will not’ compromise on energy security
Commerce Minister Piyush Goyal’s bilateral discussions with US officials on the sidelines of the G20 Trade Ministers’ meeting in Milwaukee next week, are expected to centre around the Lindsey Graham legislation targeting buyers of Russian energy,...
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IRDAI reform ‘may force distributors to completely rethink business model’
While insurance regulator IRDAI has proposed a major reform in distribution norms by sharply cutting commission payouts across products to bring down distribution costs and benefit customers, the steep cut could make insurance distribution unviable,...
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FSSAI cracks down on e-comm sites for misleading claims
The Food Safety and Standards Authority of India (FSSAI) has initiated penal action against key ecommerce and quick commerce platforms for sale of products found to be allegedly noncompliant with regulations. The food safety regulator on Wednesday...
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Stork sister Purnima is bl Changemaker of Year; BRO, MR Rajagopal are Iconic Changemakers
In an inspiring ceremony charged with emotion, gripping stories of human achievement and a mellifluous classical fusion performance, Finance Minister Nirmala Sitharaman presented businessline’s Changemaker of the Year award to grassroots...
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NSE’s mega IPO subscribed 5.71 times led by QIBs; retail portion booked 1.4x
The initial public offering (IPO) of the National Stock Exchange of India (NSE) closed on Monday with the issue subscribed 5.71 times, driven by strong demand from qualified institutional buyers (QIBs) and noninstitutional investors (NIIs). Per the...
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For India, border peace with China comes before trade ties
India is not ready to offer big concessions to China on trade and investment until there is greater assurance on peace and stability along the border despite the recent highlevel economic engagement between the countries during Chinese President Xi...
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The great Indian bull market paradox
The ongoing bull market, now 2,370 days old, is the longestrunning in India, yet it may not feel so for many who entered Dalal Street for the first time in recent years. For years, stock market investors had little patience for fixed deposits....
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Nestle India faces FSSAI action over infant food claims
The Food Safety and Standards Authority of India (FSSAI) has initiated legal action against Nestle India over alleged noncompliance of food safety regulations involving three of its infant nutrition products. The food safety regulator on Friday...
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Chandra gets 3rd term at Tata Sons, Noel opposes it
A bitter boardroom confrontation erupted at Tata Sons on Thursday as directors voted to give N Chandrasekaran another fiveyear term as Executive Chairman, despite opposition from majority shareholder Tata Trusts, whose Chairman Noel N Tata told the...
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India faces 100% tariff if US House passes sanctions Bill
The US House of Representatives is set to vote on the Lindsey O Graham Sanctioning Russia and Iran Act of 2026 on Wednesday which, if passed and signed into law by US President Donald Trump, could give him the authority to impose tariffs of up to 100...
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G-Sec yields hit four-month high on RBI OMO sales push
Government bond yields surged on Tuesday, with the benchmark 10year Gsec briefly testing the crucial 7.1 per cent mark amid concerns over RBI liquidity tightening, heavy debt supply and adverse global cues. The benchmark 10year yield opened at 7.09...
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Govt to unveil cloud policy to ring-fence critical data
The Government of India is expected to announce a unified cloud sovereignty framework in the coming days, aimed at ensuring that all government entities retain control over the country’s missioncritical data, sources told businessline. Following...
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India forges BRICS consensus amid W. Asia split
India pulled off a critical diplomatic balancing act at the BRICS Summit on Saturday, securing consensus among all 11 membernations on a joint declaration that voices serious concern over the rise of “unilateral tariff and nontariff measures” running...
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NSE prices IPO at ₹1,7001,785 targeting ₹22,000 crore; issue opens on September 17 Anthropic report flags dangerous rise of weaponised AI
The National Stock Exchange’s ₹22,000croreplus IPO, priced in the ₹1,7001,785 band, against the Street expectation of over ₹2,000 per share, has prompted several existing shareholders to scale back their planned stake sale. Investors are eventually...
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FCNR(B) liquidity to take 3-4 months to deploy: SBI chief
Banks are unlikely to immediately deploy the funds generated through FCNR(B) deposits, with the process expected to take another threefour months, according to Challa Sreenivasulu Setty, Chairman of State Bank of India (SBI). “I think everybody will...
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India Inc taps corporate bond market on surplus liquidity
India Inc is increasingly tapping the domestic bond market to raise funds, taking advantage of surplus liquidity in the banking system following the RBI’s measures to attract foreign capital. This also comes amid expectations that interest rates could...
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Apple launch event today: Foldable iPhone, AI integration, and a new face on the stage PM for linking UPI with other nations’ payment systems
Apple’s ‘Surprise and Shine’ launch event on Wednesday night has generated high anticipation on many counts. Besides being CEO John Ternus’ first public event, analysts believe Apple’s muchanticipated entry into foldables, deeper integration of...
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JLR to axe 4,000 jobs in 2 years to ringfence TaMo earnings
Tata Motorsowned Jaguar Land Rover (JLR) will cut around 4,000 jobs globally, targeting £1.7 billion in savings over the next two years as it responds to a sharp deterioration in earnings and cash flows amid weaker demand, tariff pressures and...
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Strong prices expected for most kharif crops insurance gets a
With the kharif crops set to arrive in the mandis in about 10 days, farmers in top-producing States are expected to receive favourable market prices. The only notable concerns are bajra (pear millet) and moong (green gram), which are lagging behind at...
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Mutual funds spread wider, bet lighter on IPOs
Veteran fund manager Samir Arora just days ago suggested that mutual funds stay away from IPOs for 30 days, arguing that the relentless supply of fresh paper has been weighing on the market. With domestic equities making little headway for quite some...
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Most of FCNR(B) flows came due to the leverage facility
About 80 per cent of the total $127.23 billion invested by NonResident Indians (NRIs) in the special Foreign Currency NonResident (Bank) FCNR(B) deposits — offered by banks through the RBI’s limitedperiod concessional swap facility — came through...
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‘This GDP growth number did not come out of nowhere’
Questions have been raised by some commentators over the veracity of the first quarter FY27 GDP data released by the Centre on Monday. businessline caught up over the phone with Chief Economic Advisor V Anantha Nageswaran, who’s travelling in the US,...
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Ahead of Xi’s New Delhi visit, Indian team may go to China
India is likely to send a highlevel delegation to China early next week, possibly led by Commerce Secretary Rajesh Agrawal, to advance talks on pending trade and investment issues. Ahead of President Xi Jinping’s expected visit to New Delhi for the...
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Fivemember NCLT Bench stays Subhash Chandra’s ₹6.25crore repayment plan
A fivemember Bench of the National Company Law Tribunal (NCLT) has stayed a smaller Bench’s August 25 order approving a ₹6.25crore repayment plan proposed by Essel Group founder Subhash Chandra, observing that there was no clear majority view among...
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GDP accelerates to 7.8% in Q1 on all-round growth
Gross domestic product (GDP) grew 7.8 per cent in Q1 FY27 to ₹81.36 lakh crore, compared with a revised 6.9 per cent in the yearearlier quarter, despite the disruptions in West Asia, elevated energy prices and global trade uncertainties. Chief...
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‘LIC may raise stake in NSE, eyes reach in every panchayat’
bl interview Life Insurance Corporation of India (LIC), one of the largest shareholders in the National Stock Exchange (NSE) with a 10.72 per cent stake, may consider increasing it in the bourse once the muchawaited initial public offering is...
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Chasing global AI stocks getting riskier by the day
The RBI Bulletin released last week revealed an interesting factoid — that outward remittances by resident individuals for overseas investments reached $457 million in June — the highest ever. Given the scale and the lure of AI trade in overseas...
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Jio Platforms gets SEBI nod for a record ₹37,700crore IPO
Reliance Industries’ digital arm Jio Platforms on Friday received SEBI’s nod to float India’s largestever initial public offer of about ₹37,700 crore. The company received the observation letter on the Draft Red Herring Prospectus filed for its...
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BRICS Summit may push for cross-border payment systems
The BRICS Summit in New Delhi next month is likely to push for mechanisms to facilitate crossborder payments between members, including links between digital payment systems and central bank digital currencies (CBDCs). India has projected this as a...
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FM pitches for Canadian investment in new sectors
The government has stepped up its outreach to global investors with Finance Minister Nirmala Sitharaman beginning her nineday tour of Canada and the US by strongly pitching India as the fastestgrowing major economy offering a combination of scale,...
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Persisting retail F&O losses spur call for tighter eligibility filters
Nearly two years after the Securities and Exchange Board of India (SEBI) launched a series of measures to curb excessive retail speculation in the derivatives market, industry participants are increasingly backing tighter eligibility and suitability...
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CEO exits rise at India Inc, stocks feel investor heat
India Inc is seeing a rise in CEOs exiting before completing their terms, with some departures causing investor unease, as reflected in stock price movements. The number of Nifty500 company chiefs who exited rose sharply in FY26, with nearly 42 per...
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SBI targets ₹200 lakh crore business in four years
The State Bank of India, the country’s largest lender, has set its sights on its next big landmark — building a ₹200 lakh crore business franchise. Having already crossed ₹100 lakh crore in combined deposits and advances in the second quarter of FY26...
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US bond turmoil signals rising global macro pressures
James Carville, lead strategist for former US President Bill Clinton, famously remarked that if reincarnation exists, he would want to come back as the bond market because it can intimidate everybody. History provides ample evidence of this power. Past...
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Centre notifies ₹62,500 crore mobile phone making scheme
The Centre on Friday notified the ₹62,500 crore Mobile Phone Manufacturing Scheme (MPMS) to provide productionlinked incentives (PLI) for making in India and to support Indian brands. The scheme aims to increase India’s global competitiveness by...
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SBI widens cash withdrawal charges to all basic accounts ‘to plug fee income leak’
The State Bank of India, the country’s largest lender, has expanded the scope of cash withdrawal charges for basic savings bank deposit accounts, a move industry sources say is aimed at plugging a leakage in fee income, while also nudging customers...
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Copthall, Mansi Share barred for Sensex CAS manipulation
SEBI has cracked down on two entities after finding prima facie evidence of manipulation in last week’s Sensex expiry close during the newlyintroduced Closing Auction Session (CAS) by placing aggressive buy and sell orders. The markets regulator...
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Tata Sons’ AGM adjourned first time ever over quorum
Tata Sons 108th Annual General Meeting was adjourned for the first time in the company’s history due to a lack of quorum resulting from a regulatory restriction on one of its two key shareholders. The quorum issue stems from regulatory restrictions on...
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El Nino seen deepening India’s rainfall deficit through Sept
India appears to be facing a widening rainfall deficit, with the current regional wet spell likely to fade by endAugust as the influence of droughtinducing El Nino strengthens, according to the European Centre for MediumRange Weather Forecasts...
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Amid US sanctions, India works out Chabahar handover to Iran
India is finalising the modalities for handing over operations at Chabahar Port’s Shahid Beheshti Terminal to the Iranian government after a US sanctions waiver for the project expired in April. At the same time, India is seeking safeguards to regain...
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India Inc Q1 earnings spring a surprise despite cost pressures
Under the full glare of West Asia conflict, India Inc’s performance paints an optimistic picture despite relatively slow earnings growth. Of the 4,220 companies that had reported results till Friday, revenue and PAT grew 21 per cent and 14 per cent...
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US names India as a hub routing Chinese goods to evade tariffs
India is among the over 40 countries named by Washington of helping China circumvent higher US tariffs by allowing Chinese goods to be illegally rerouted through their territories to the American market. Responding to allegations made against India...
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SEBI mulls SME IPO route for firms valued up to ₹5,000 crore
The Securities and Exchange Board of India (SEBI) is considering raising the maximum postissue paidup capital for companies listing on the SME platform to ₹100 crore from the current ₹25 crore, a move that could allow companies with market valuations...
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Chandra not to seek third term as Tata Sons Chairman
N Chandrasekaran, popularly known as Chandra, on Wednesday announced that he will not seek a third term as Tata Sons Chairman starting February 2027 after failing to secure the backing of Tata Trusts Chairman Noel Tata for the top post. Chandra’s...
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After 30 months, large-cap MFs see net outflow in July
Largecap mutual funds recorded their first monthly net outflow in more than twoandahalf years in July as investors booked profits after a sharp rebound in frontline stocks, according to Association of Mutual Funds in India (AMFI) data. The...
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No bar on airport operators owning airlines, clarifies govt
The government on Monday clarified in Parliament that there is no policy restricting operators of major airports from holding substantial equity in or operating scheduled airlines, but acknowledged that contractual restrictions in some publicprivate...
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India unlikely to curb Russian oil purchase despite US threat
India is unlikely to rein in crude oil purchases from Russia, its largest oil supplier, despite mounting pressure from Washington, with the US Senate overwhelmingly passing a sanctions Bill empowering President Donald Trump to impose tariffs of up to...
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Retail participation in IPOs turns lacklustre as investors eye quality over listing gains
Notwithstanding the early signs of a revival in the primary market, retail participation in initial public offerings (IPOs) has remained lacklustre as investors have focussed on the quality of issuances over the lure of listing day gains. Of the 12...
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CBI chargesheet exposes NEET paper leak network
The CBI chargesheet in the NEETUG 2026 examination paper leak scandal shows that questions were allegedly passed from NTAappointed subject experts to middlemen and finally to candidates, both physically and through social media platforms including...
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Tata Sons listing hinges on RBI’s de-registration call
The RBI’s latest list of nonbanking financial companies (NBFCs) in the upper layer for 202627 has once again put the spotlight on Tata Sons and revived a key question: Will the holding company eventually have to list, or could it get regulatory...
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Closing auction: Nifty swings on Day 2 raise eyebrows
The sharp swings in the Nifty 50’s official closing value for a second straight session on Tuesday have intensified the debate around SEBI’s newly introduced Closing Auction Session (CAS), with settlement prices for weekly derivatives expiry getting...
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Closing price discovery catches traders off-guard as CAS lifts Nifty 200 points
The Nifty 50’s official closing value surged nearly 200 points after continuous trading ended on Monday, surprising market participants on Day 1 of the Closing Auction Session (CAS) for futures and options (F&O) stocks. The Nifty 50 ended at...
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RBI funding restrictions hit derivatives trading volumes
The RBI’s tighter funding norms for capital market intermediaries have started reflecting in derivatives trading volumes, with turnover in NSE’s index futures and options segment declining sharply in July. Market participants, however, believe the...
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India’s active MFs lag benchmarks, yet beat global peers
Indian activelymanaged equity funds continue to struggle to consistently outperform their benchmarks , particularly in large and midcap categories. Yet, compared with active funds in most major markets, their record remains relatively favourable. A...
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Windfall dividends, divestment receipts give govt fiscal cushion
Higherthanexpected dividend and surplus payouts by the Reserve Bank of India and staterun financial institutions have provided the Centre muchneeded fiscal elbow room. Total collections under this head have already outpaced the fullyear Budget...
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AERA moots big overhaul of airport tariff structure
The Airports Economic Regulatory Authority (AERA) has suggested increasing the use of nonaeronautical revenue (NAR) to offset airport charges in a move that could substantially reduce user development fee (UDF) and other aeronautical levies paid by...
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In FCNR (B) race, small banks raise deposit rates to woo NRIs
Small and midsize banks, not wanting to be left behind in the race to mobilise fresh foreign currency nonresident (bank), or FCNR (B), deposits, are playing the “interest rate” gambit. These banks are overcoming the inability to offer leverage to...
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MSRDC case: HDFC Bank board warns CEO, CFO, staff
The board of HDFC Bank has decided to issue warning letters and impose a monetary penalty of ₹1 lakh each on Managing Director and CEO Sashidhar Jagdishan, the Chief Financial Officer, and the Group Head of Retail Assets in connection with the...
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Inflation remains RBI’s foremost priority: Governor
Mumbai Reserve Bank of India Governor Sanjay Malhotra has said that inflation control remains the RBI’s foremost priority even as it remains mindful of growth risks. He said the Monetary Policy Committee (MPC) would continue to adopt a datadependent...
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IT’s a chasm between management and investors
As another lacklustre earnings season from IT services companies concludes, the contradictions between managements and investors have already been starker. From global industry leader Accenture, which reported results last month, to Infosys, which...
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US levies lower 10% tariff on India; trade concerns remain
India has secured a lower 10 per cent US tariff under Washington’s new Section 301 forcedlabour regime, placing it on par with Bangladesh, Sri Lanka, Indonesia, Malaysia and Pakistan after New Delhi tightened its import rules to prohibit goods made...
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Infosys Q1 net slips 8.6% q-o-q, trims FY27 revenue guidance
Infosys entered FY27 on a cautious note, moderating its constant currency revenue growth guidance to 1.53 per cent and lowering the upper end of its earlier forecast. In the June, or the first quarter of FY27, revenue climbed 3.9 per cent...
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Government plans aviation reforms to spur new airlines
Against the backdrop of an increasingly concentrated domestic aviation market, the Centre is preparing a comprehensive package of structural reforms aimed at lowering barriers to setting up new airlines, intensifying competition and attracting fresh...
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To support rupee, NPS may be opened to NRI, OCI dollars
To bolster the recent government and RBI measures to attract foreign capital, plans are under consideration to allow nonresident Indians (NRIs) and overseas citizens of India (OCIs) to subscribe to the National Pension System (NPS). This proposal...
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