BusinessLine (Hyderabad)
GST Council ends arrest powers of tax officers, lowers penalties
The GST Council on Thursday recommended significant tax administration reforms, including the elimination of arrest powers for GST o cers, an increase in the threshold for criminal prosecution and a reduction in general penalties. The Council also...
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RBI turns hawkish, raises repo rate by 25 bps to 5.5%
The Reserve Bank of India’s rate-setting panel, after a gap of nearly four years, kicked o a fresh rate-hike 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 by...
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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 stando between airlines and Adani Airports,...
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Air India, Express may share key teams in cost-cutting push
Tata Sons-led 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 50-75 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 El-Erian...
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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 o. 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 non-EVs by replacing the proposed...
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Rosatom in talks with RIL, Adani, NTPC for N-projects
Russia’s state-owned nuclear energy corporation Rosatom is in talks with some of India’s biggest corporate and government-owned power companies, including the Adani Group, Reliance Industries, the Jindals and NTPC. The company is looking to...
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‘US trade deal could shield India from 100% tariff risk’
An India-US trade deal could protect India from the full 100 per cent tari 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 excess...
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US tariff threat: India ‘will not’ compromise on energy security
Commerce Minister Piyush Goyal’s bilateral discussions with US o cials 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 e-commerce 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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New Zealand FTA to give Indian goods nil duty access from Oct 20
The India-New Zealand FTA will come into force on October 20, allowing duty-free exports of 100 per cent of Indian goods, including labour-intensive products such as textiles, carpets, chemicals, gems and jewellery, pharmaceuticals, automobiles, auto...
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For India, border peace with China comes before trade ties
India is not ready to o er big concessions to China on trade and investment until there is greater assurance on peace and stability along the border despite the recent high-level 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 longest-running 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 non-compliance 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 five-year 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 taris 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 10-year G-sec briefly testing the crucial 7.1 per cent mark amid concerns over RBI liquidity tightening, heavy debt supply and adverse global cues. The benchmark 10-year 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 mission-critical data, sources told businessline. Following...
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India forges BRICS consensus amid W. Asia split
India pulled o 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 tari and nontari measures” running...
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NSE prices IPO at ₹1,700-1,785 targeting ₹22,000 crore; issue opens on September 17 Anthropic report flags dangerous rise of weaponised AI
The National Stock Exchange’s ₹22,000-crore-plus 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 three-four 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 much-anticipated entry into foldables, deeper integration of...
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JLR to axe 4,000 jobs in 2 years to ringfence TaMo earnings
Tata Motors-owned 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, tari pressures and...
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FCNR(B) deluge softens CD rates; large banks stay away
Certificate of deposit (CD) rates have slipped below 6 per cent from the 7-7.25 per cent levels seen about three months ago, primarily due to the flood of liquidity generated by banks swapping Foreign Currency Non-Resident (Bank) or FCNR(B) deposits...
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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 Non-Resident Indians (NRIs) in the special Foreign Currency Non-Resident (Bank) FCNR(B) deposits — oered by banks through the RBI’s limited-period concessional swap facility — came through the...
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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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Five-member NCLT Bench stays Subhash Chandra’s ₹6.25-crore repayment plan
A five-member 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 much-awaited initial public oering 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 ₹37,700-crore IPO
Reliance Industries’ digital arm Jio Platforms on Friday received SEBI’s nod to float India’s largest-ever initial public oer 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 cross-border 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 nine-day tour of Canada and the US by strongly pitching India as the fastest-growing major economy oering 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 production-linked 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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SEBI curbs cool F&O market, still traders lost ₹91,685 crore
The Securities and Exchange Board of India’s measures to curb excessive speculation in equity derivatives coincided with a sharp cooling in retail participation, with the number of active individual traders falling for the first time since...
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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 newly-introduced 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 end-August as the influence of drought-inducing El Nino strengthens, according to the European Centre for Medium-Range 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 tari s by allowing Chinese goods to be illegally re-routed through their territories to the American market. Responding to allegations made against India in...
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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 post-issue paid-up 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
Large-cap mutual funds recorded their first monthly net outflow in more than two-and-a-half 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 public-private...
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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 taris of up to 100...
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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 NEET-UG 2026 examination paper leak scandal shows that questions were allegedly passed from NTA-appointed 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 2026-27 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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MPC holds repo rate at 5.25% amid uncertainties
The Reserve Bank of India’s Monetary Policy Committee (MPC) unanimously voted to keep the policy repo rate unchanged at 5.25 per cent and retained its “neutral” monetary policy stance, citing uncertainties around the South-West monsoon, El Nino...
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Closing auction: Nifty swings on Day 2 raise eyebrows
The sharp swings in the Nifty 50’s o cial 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 o cial 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 24,774.30,...
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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 actively-managed 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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As deficit narrows, uneven spread of monsoon a worry
Uneven spread of the SouthWest monsoon is causing concern in India despite one per cent above-normal rainfall in July making up, to some extent, for the 35 per cent deficient rain in June. The situation looks a little worrisome with the India...
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Windfall dividends, divestment receipts give govt fiscal cushion
Higher-than-expected dividend and surplus payouts by the Reserve Bank of India and state-run financial institutions have provided the Centre much-needed 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 non-aeronautical revenue (NAR) to o set 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 mid-size banks, not wanting to be left behind in the race to mobilise fresh foreign currency non-resident (bank), or FCNR (B), deposits, are playing the “interest rate” gambit. These banks are overcoming the inability to oer 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 O cer, 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 data-dependent...
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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 tari under Washington’s new Section 301 forced-labour regime, placing it on par with Bangladesh, Sri Lanka, Indonesia, Malaysia and Pakistan after New Delhi tightened its import rules to prohibit goods made with...
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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 1.5-3 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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