US Federal Reserve hikes policy rate by 25 bps
Mar 23, 2023, at 05:45 am
The United States Federal Reserve has increased the policy rate by 25 basis points, resulting in a new range of 4.75% to 5%.
CCI approves LIC MF arm's acquisition of IDBI MF
Mar 23, 2023, at 05:16 am
New Delhi/IBNS: The Competition Commission of India (CCI) has approved the proposed acquisition of the management rights over the schemes of IDBI MF from IDBI Asset Management Limited by the LIC Mutual Fund Asset Management Ltd.
5 companies shortlisted for Centre's PLI scheme for hydrogen fuel cell EVs
Mar 23, 2023, at 04:43 am
New Delhi: The government has chosen five companies - Ashok Leyland, Eicher Motors, Pinnacle Mobility, Tata Motors, and Booma Innovative - to manufacture hydrogen fuel cell electric vehicles under the production-linked incentive scheme for the automobile and auto component industry (PLI-Auto) worth Rs 25,938 crore, Minister of State for Heavy Industries, Krishan Pal Gurjar, has informed the Lok Sabha
Govt proposes to sell 3.5 pc stake in Hindustan Aeronautics Ltd
Mar 23, 2023, at 04:38 am
Mumbai: India is preparing to sell up to a 3.5% stake in Hindustan Aeronautics Ltd, a state-run aerospace and defence company, which could yield the government Rs 2,867 crore, Reuters reported citing an exchange filing on Wednesday.
Bharat 6G Mission: PM Modi unveils India's 6G project, official testbed
Mar 23, 2023, at 03:46 am
New Delhi/IBNS: Prime Minister Narendra Modi on Wednesday announced India's 6G mission, which aims to concentrate efforts towards developing next-generation technology in India.
Finance Ministry agencies confiscate immovable properties worth Rs 1.11 trn in 6 years
Mar 23, 2023, at 02:39 am
New Delhi: The enforcement agencies under the Finance Ministry have seized immovable assets worth around Rs 1.11 trillion during the last six years, the ministry informed Parliament.
PNB, IOC, DCB Bank to offer AT1 bonds; issue at premium rates likely: Report
Mar 23, 2023, at 02:23 am
Mumbai: Punjab National Bank (PNB), Indian Overseas Bank (IOB), and DCB Bank may need to offer higher interest rates on their bonds as they prepare to sell them during a period when global banks are facing significant pressure, according to a report published in The Economic Times (ET).
Jeff Bezos lost more wealth than Gautam Adani and Mukesh Ambani in last one year
Mar 23, 2023, at 01:38 am
Mumbai/IBNS: Jeff Bezos, the founder of e-commerce giant Amazon, lost more wealth in dollar terms in the last one year than Indian billionaires Mukesh Ambani and Gautam Adani combined, according to the 2023 M3M Hurun Global Rich List.
Delhi: Arvind Kejriwal's AAP-led govt presents budget of Rs 78,800 cr for 2023-24
Mar 22, 2023, at 10:18 pm
New Delhi: Delhi Finance Minister Kailash Gahlot presented his first and AAP government’s 9th budget in the Assembly on Wednesday with an outlay of Rs 78,800 crore budget estimate for the financial year 2023-24, focusing on cleaning Yamuna and removal of three mountains of garbage, infrastructure, education and health.
Axis Mutual Fund launches ‘Axis S&P 500 ETF Fund of Fund’
Mar 22, 2023, at 08:36 pm
Kolkata: Axis Mutual Fund, one among the fastest growing fund houses in India, announced the launch of their New Fund Offer – Axis S&P 500 ETF Fund of Fund (an open ended fund of fund investing in Exchange Traded Funds replicating S&P 500 TRI, subject to tracking errors).
Budget 2023: What Changes Can We Expect from Fixed Deposit Interest Rates?
Mar 22, 2023, at 12:04 am
Budget 2023 has been released, and investors are curious to know what changes to expect from fixed deposit interest rates. With the Reserve Bank of India (RBI) maintaining an accommodative stance on interest rates, the government may introduce policies that could have an impact on the interest rates offered on fixed deposits.
Mar 21, 2023, at 11:51 pm
New Delhi: NTPC REL has signed an MoU with Indian Army for setting up Green Hydrogen Projects in its establishments on Build, Own and Operate (BOO) model. The intent is to reduce complex logistics, dependence on fossil fuels and to accelerate decarbonisation.
Tata Motors Announces price increase for Commercial Vehicles ahead of BS6 Phase II Emission norms
Mar 21, 2023, at 11:37 pm
Mumbai: Automobile major Tata Motors will be implementing a price increase of up to 5% on its commercial vehicles starting from Apr 1.
Amazon to lay off 9000 more employees in latest round of job cuts
Mar 21, 2023, at 05:08 am
E-commerce giant Amazon.com Inc Monday announced 9,000 more layoffs to make its operation lean and manage economic uncertainty.
Why is it important to use your credit card cautiously?
Mar 21, 2023, at 12:11 am
Credit cards have become very popular, especially among the millennial generation. It is evident as the number of active credit cards went up by 20% year-on-year to 806.65 lakh in November 2022, as per Reserve Bank of India (RBI) data. In this article, we will discuss the fundamentals of credit cards and the quickest ways to pay your credit card's outstanding.
Swiss bank major UBS to acquire Credit Suisse
Mar 20, 2023, at 02:46 pm
Swiss bank major UBS is planning to acquire troubled Credit Suisse in a government-backed deal.
Mar 20, 2023, at 03:06 am
Toronto: Toronto Testing Meetup, a software testing community group, is organizing "Women Leaders in Toronto Testing," an event that celebrates the contributions of women in software testing in Toronto.
India's banking system strong amid turmoil in global markets: PM Modi
Mar 19, 2023, at 04:52 am
New Delhi: India's economic and banking systems remain robust, even in the midst of the current turmoil battering global markets, Prime Minister Narendra Modi said on Saturday.
Losses, mismanagement, failed strategies; how Credit Suisse reached crisis point
Mar 18, 2023, at 10:07 am
The crisis in Credit Suisse had been brewing since 2021, but the Swiss lender rattled investors on Tuesday by revealing that it had discovered "material weaknesses" in its 2021 and 2022 financial reports. On Wednesday, its stocks tumbled to an all-time low, stoking concerns over the overall heath of the banking sector, especially after the collapse of two banks in the U.S.
PM Modi congratulates RBI Governor Shaktikanta Das for ‘Governor of the year’ award
Mar 18, 2023, at 07:52 am
Prime Minister Narendra Modi Friday congratulated RBI Governor Shaktikanta Das for receiving the ‘Governor of the year’ award in the Central Banking Awards 2023.
Union Cabinet approves listing of IREDA on bourses via IPO route
Mar 18, 2023, at 07:09 am
New Delhi/IBNS: The Cabinet Committee on Economic Affairs (CCEA) on Friday approved the listing of IREDA on the stock exchanges through an Initial Public Offer (IPO).
India's forex reserve drops to 3 month low of $560 billion
Mar 18, 2023, at 06:17 am
Mumbai: India's foreign exchange reserves dropped to $560 billion in the week ending on March 10, the lowest since the beginning of December, showed Reserve Bank of India's statistical supplement published on Friday.
PhonePe raises another $200 million in ongoing funding from largest shareholder Walmart
Mar 18, 2023, at 05:39 am
Bengaluru: Digital payments and financial services company PhonePe has raised an additional $200 million as part of its proposed $1 billion funding round from its largest shareholder, Walmart. The funding was secured at a pre-money valuation of $12 billion.
NCLT approves merger of HDFC and HDFC Bank
Mar 18, 2023, at 04:48 am
The National Company Law Tribunal (NCLT) gave its approval for the merger of HDFC and HDFC Bank, which is considered to be the largest merger in corporate history.
Tata Consumer Products cancels talks on Bisleri deal
Mar 18, 2023, at 04:19 am
Tata Consumer Products (TCPL) said on Friday that it had called off talks with Bisleri International to buy a majority stake in India’s largest bottled water enterprises.
RBI injects Rs 1.1 trillion in largest infusion since Apr 2019
Mar 18, 2023, at 03:57 am
Mumbai: The Reserve Bank of India injected Rs 1.1 trillion into the system on Thursday, marking the largest single-day liquidity infusion since April 24, 2019. This comes amid onset of corporate advance taxes leading to significant outflows from the banking system
Embattled SVB Financial Group seeks protection from bankruptcy: Report
Mar 18, 2023, at 02:40 am
SVB Financial Group on Friday said it has applied for court-monitored restructuring under Chapter 11 bankruptcy protection to find potential buyers for its assets, Reuters reported.
CARS24 launches first engineering R&D Centre in Bengaluru
Mar 17, 2023, at 09:53 pm
Bengaluru: CARS24, an auto-tech company for pre-owned vehicles, on Friday took a giant leap towards driving innovation and growth in the pre-owned vehicle market with the launch of its first Engineering Research and Development Center (R&D Center) in Bengaluru.
itel launches P40 a 6000 mAh Power-packed Smartphone, check out price
Mar 17, 2023, at 09:34 pm
New Delhi: Smartphone major itel launches its new Power Series with the contemporary P40 smartphone.
Volvo XC40 bags multiple awards in India
Mar 17, 2023, at 05:26 am
Kolkata/IBNS: Volvo Car India’s luxury SUV model Volvo XC40 has won five prestigious awards in India, the company said in a press release.