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Showing posts from December, 2024

India's financial sector to enter 2025 on strong footing: RBI guv Malhotra

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India's financial sector is positioned strongly as it enters 2025, marked by robust earnings, low impaired assets, and strong capital buffers. Despite challenges from geopolitical conflicts and market volatility, the financial system remains resilient. Consumer and business confidence is high, and stress tests show the banking system and NBFCs are well-capitalized. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7hH2ANU

India Inc seeks income tax cut to boost demand

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Industry bodies requested tax cuts, increased public spending, and focus on MSMEs in the budget to boost demand and job creation during their consultations with FM Sitharaman. Proposals included reducing personal tax rates, excise duty, improving credit flow to small businesses, and developing rural industrial parks, with an emphasis on public capex and female workforce participation. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZDVhGKW

Look up who you are paying via NEFT soon

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Economy to grow at 6.5-6.8% in FY25: Deloitte

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Family offices double down on startup bets

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Indian family offices are increasingly investing in startups across various sectors like chip technology, robotics, and green energy, aiming for higher returns. Larger family offices and new-age families are allocating significant portions of their portfolios to startups with solid business models and IPO potential, further boosting the startup ecosystem. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CEMdXvz

M-cap of six of top-10 most valued firms increased Rs 86,847.88 crore

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Six leading firms among the top-10 most valued companies collectively gained Rs 86,847.88 crore in market value last week, with HDFC Bank and Reliance Industries leading the gains. The BSE and Nifty both saw modest increases. Meanwhile, four companies, including TCS and Infosys, faced declines in their market valuations. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/9ypr6Lj

UGC NET December 2024 admit card out for Jan 3 exam, direct link to download here

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UGC NET December 2024 admit card: The National Testing Agency (NTA) has released admit cards for the UGC NET December 2024 exam, available on ugcnet.nta.ac.in. Currently, only admit cards for the January 3 exam are out, with others to follow. The exam will be held from January 3 to 16, 2025, in two shifts. Verify details and download accordingly. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/LyaMC90

Vodafone Group clears 11,650 crore dues raised against VIL shares

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Vodafone Group cleared debt dues of Rs 11,650 crore by releasing pledges on shares of Vodafone Idea. The pledged shares were raised against debt from HSBC Corporate Trustee. These shares represent a 22.56% stake, currently valued at Rs 11,649 crore. Post-repayment, the equity shares held by Vodafone Promoter Shareholders have been released. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NdnHacY

Osamu Suzuki: Man who gave India its people's car

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Osamu Suzuki, a key figure behind Maruti 800, was instrumental in introducing the small car to India in 1983. His vision and risk-taking attitude significantly shaped the Indian automobile industry, making it a robust economic sector. His efforts modernized industrial practices and created a strong supplier ecosystem in India. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2fJhXY5

FMCG companies bet on premium trend amid demand slump

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Urban FMCG demand is not expected to fully recover until mid-2025, despite companies focusing on premium products. Inflation is constraining urban spending, while rural areas show recovery. High commodity prices impact discretionary spending. E-commerce is growing for brands like Nestle. Industry executives call for policy measures to stimulate mass consumption and manage inflation. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/eULkz4K

RBI policies may have contributed to economic slowdown: Finance ministry

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The finance ministry's report indicates that the combination of RBI's monetary policy and structural factors may have led to the economic slowdown. The ministry highlighted slowed urban consumption and cautious corporate hiring practices as contributors. The report anticipates improved growth in the second half of FY25, while stressing the need for a comprehensive commitment to sustaining growth amidst global uncertainties. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yH9hGNI

Rupee sees relative gain as other currencies fall more vs $: RBI

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India should seek to push potential growth from 6% to 8%: World Bank chief economist

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Indermit Gill, World Bank chief economist, emphasizes India's potential to elevate its growth from 6% to 8% by enhancing efficiency and economic freedom, focusing on quality education, staying open to FDI and trade, and improving women's workforce participation. India's favourable demographics and balanced economy support these prospects. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/gU4HXbq

Economic growth likely to pick up on festive, rural demand: RBI

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India's economic growth is expected to improve in the latter half of FY25, driven by festive activity, rural demand, and agricultural growth. The RBI report highlights potential moderation in food prices, government capital expenditure challenges, and broader economic trends affecting GDP and inflation projections. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/IAGchQD

India Cements becomes subsidiary of UltraTech

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UltraTech Cement has acquired a 55.5% stake in India Cements, making it a subsidiary. The acquisition adds 14.5 million tonnes of production capacity to UltraTech's portfolio. The deal, totaling Rs 3,954 crore, received approval from the Competition Commission of India, amidst India Cements' recent financial challenges. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/YNnHpUl

Sri Lanka central bank fines Indian Bank

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India to be key challenge as Honda, Nissan talk merger

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Japanese companies Honda and Nissan plan to merge operations in response to tough business challenges, potentially affecting their global and Indian markets. The merger faces complexities in India due to independent production setups and Nissan's partnership with Renault. The future of Nissan and Renault's collaboration in Chennai remains uncertain. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0JKZqP2

Freshworks founder sells $40 million shares

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Britannica didn't just survive. It's an AI company now

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Encyclopaedia Britannica, once a weighty symbol of knowledge, has successfully transitioned to the digital age. By embracing AI and expanding into educational software and online dictionaries, the company has achieved impressive profit margins and is now considering a $1 billion IPO. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4TboJk0

Ex-finance minister Arun Jaitley had given go-ahead to clean up bad loans, says Raghuram Rajan

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Former RBI Governor Raghuram Rajan revealed that ex-Finance Minister Arun Jaitley supported his decisive action on tackling bad bank loans. Rajan attributed the NPA surge to corruption, delayed clearances, and the global financial crisis. He also pointed to slow government recapitalization hindering lending. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WSpm963

$100 million clients: TCS, Infosys lead race

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TCS and Infosys added twelve $100 million+ clients each post-pandemic, outpacing Wipro and HCLTech's seven. While TCS and Infosys boasted 62 and 40 such clients respectively by 2023-24, Wipro and HCLTech had 22 each. Large deal wins slowed across the industry due to reduced spending and global uncertainties. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Rp6jcq

3 IPOs sail through despite Dalal Street selloff

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Rupee breaches 85/$ for 1st time on Fed's comment of fewer rate cuts in future

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The Indian rupee fell to a record low against the US dollar, crossing the 85 mark for the first time. This drop was influenced by the US Federal Reserve's indication of fewer-than-expected future rate cuts. While the decline makes imports costlier and benefits NRI remittances, its impact on export competitiveness is debated. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WHwvy84

CAT 2024 Result declared, check direct link here

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IIM Calcutta has declared the CAT 2024 results on iimcat.ac.in. The exam, held on November 24 at 389 centers, lasted 120 minutes. Response sheets and provisional answer keys were released on November 29, with objections accepted until December 5. The final answer key was published earlier this week. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/pvzNw9M

Sebi tightens rules for SME IPOs, merchant banking biz

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Alumni of IIT Delhi lead list of top startup founders

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Sebi board announces stricter regulations for SME IPOs to improve

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Sebi has introduced stricter regulations for SME IPOs, mandating a minimum operating profit and limiting selling shareholders' divestment to 50% of their stake. These measures aim to enhance transparency, governance, and fund utilization in the booming SME segment. The new rules also restrict the use of IPO proceeds for settling loans from related parties. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0hTSgKO

Lost track of inactive mutual funds? Sebi plans search platform

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India's market regulator, Sebi, is planning a portal, MITRA, to help investors find lost mutual fund investments. Inactive accounts, often due to missing PAN or outdated contact information, will be searchable through a central database managed by CAMS and KFintech. This initiative aims to reduce unclaimed accounts and protect against fraud, improving transparency in the financial system. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/asevH69

Slowdown in Q2 is a 'temporary blip': FM

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Finance Minister Nirmala Sitharaman addressed concerns about India's economic slowdown, calling the second-quarter dip a "temporary blip." She highlighted the country's strong average growth rate of 8.3% over the past three years and emphasized the government's commitment to managing inflation, citing recent positive trends and supply-side measures. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/i1mnVI9

Retrospective 5% GST likely on food app delivery charge

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HBCUs Face Higher Risk of Closure in the Next Five Years: How America Treated Its Black Colleges

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American colleges, especially Historically Black Colleges and Universities (HBCUs) are facing a looming crisis. Dwindling enrollments, financial strains, and systemic underfunding threaten their existence. HBCUs, founded to educate Black Americans, now grapple with decreased Black student attendance and smaller endowments compared to predominantly white institutions. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/peM4lf1

Blackstone seen as top bidder for Haldiram bite

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In a first, Indian services exports to outstrip goods

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India's service exports are poised to surpass goods exports in November, reaching an estimated $35.7 billion. Driven by Global Capability Centers (GCCs) and robust growth in sectors like management and legal services, this shift reflects a sustained upward trend. The government aims to further boost service sectors like IT, tourism, and maritime services to achieve a $1 trillion export target. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/RzkH0wo

Companies bring 'pet leave', 'live band days' for Gen Z staff

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Indian tech companies are rolling out innovative perks to attract and retain millennial and Gen Z employees. These include unlimited sick leave, pet-friendly policies, and "well-being days" to combat burnout and boost productivity. Companies are also focusing on skill development, diversity, and flexible work arrangements to cater to the evolving needs of the younger workforce. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/IJe1c84

Ambani and Adani drop out of $100 billion club

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Mukesh Ambani and Gautam Adani, once centibillionaires, have seen their fortunes decline. Ambani's Reliance conglomerate faces underperforming energy and retail businesses, while Adani confronts a US Department of Justice probe over alleged bribery, adding to the fallout from previous fraud accusations. Both tycoons are battling to regain investor confidence amidst these mounting challenges. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ijl5FcA

Free trade & investment deals hit model BIT hurdle

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Indian companies raised record high of over Rs 1 lakh crore via QIP

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Indian companies shattered fundraising records in 2024, raising over ₹1.2 lakh crore through Qualified Institutional Placements (QIPs) by November. This surge, driven by a robust stock market and high valuations, doubled the previous year's figures. Giants like Vedanta and Zomato led the charge, each raising ₹8,500 crore. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/J7FGZOn

Bihar Police ASI Steno Recruitment 2024: Notification released, check key dates and other details here

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The Bihar Police Subordinate Services Commission (BPSSC) has announced recruitment for 305 Steno Assistant Sub-Inspector (ASI) posts. The online application process opens on 17th December 2024 and closes on 17th January 2025. Candidates must meet eligibility criteria including educational qualifications and age limits. The selection process involves a written test and a skill test. The recruitment offers a competitive salary of Rs 29,200 – Rs 92,300 and is a great opportunity for aspiring candidates. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/3CK1Sv4

Uttarakhand school apologises after girl forced to remove tilak

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A Class-8 student in Uttarakhand was asked by her teacher to remove a tilak from her forehead before entering the classroom, claiming it was not allowed. The student complied but later informed her parents, sparking a protest by Hindu groups. The protest led to the school's principal apologizing to the girl's family and the groups. The Director General of School Education has ordered an investigation into the incident. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/4dPlusO

JSW gets back Rs 4k cr assets in Rs 47k cr Bhushan Steel case

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The Enforcement Directorate (ED) has returned properties worth Rs 4,025 crore to JSW Steel, the successful bidder for the bankrupt Bhushan Power and Steel Ltd (BPSL). The assets were originally seized by the ED during a money laundering investigation that revealed BPSL's former promoters had defrauded banks of Rs 47,204 crore. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6yNag8O

Sensex swings over 2,000 pts, ends at 2-mth high on FPI buy

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The Sensex surged 843 points to a two-month high of 82,133, driven by strong foreign fund inflows and buying in FMCG, IT, and banking stocks. This followed a volatile session with a 2,100-point intraday swing, influenced by global market weakness and uncertainty about China's economic recovery. Market sentiment remains cautious due to rising US Treasury yields and a weaker rupee. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/pxOiXt9

JK Paper’s strategic merger to increase Harsh Pati Singhania & family’s stake

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JK Paper, led by Harsh Pati Singhania, is streamlining its corporate structure by merging several subsidiaries with itself. This move will consolidate its packaging business and increase the Singhania family's ownership to 53%. Enviro Tech Ventures, partially owned by the family, will also merge with JK Paper after divesting its agricultural interests. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yIxC805

Reliance signs 10-yr deal with Russia's Rosneft for $12-13bn a year oil import

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Reliance Industries has inked a significant deal with Russia's Rosneft, securing up to 500,000 barrels of crude oil daily for the next decade. This $12-13 billion annual agreement, confirmed by Reliance, makes Russia India's top crude supplier. The deal, encompassing various Russian crude grades and fuel oil, involves around half of Rosneft's seaborne oil exports. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/GbzXfg8

Retail inflation eases to 5.5% in Nov as food prices soften

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India's retail inflation eased to 5.5% in November from a 14-month high, driven by moderating food prices. Industrial output saw a modest 3.5% rise in October. While food inflation slowed, vegetable and edible oil prices remain high. Experts anticipate a potential rate cut in February if the trend continues, though urban demand needs monitoring. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xQhUSVR

Focus on policy stability & sustaining growth: RBI governor

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Sanjay Malhotra, the new RBI governor, emphasized stability, trust, and growth as the central bank's core values. He stressed the importance of financial inclusion in fostering India's continued growth trajectory. While prioritizing policy stability, Malhotra promised agility and a consultative approach, acknowledging the need for diverse expertise in navigating a complex global landscape. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/tqykf7n

10-minute food delivery war to heat up with Zepto's standalone café app

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Zepto is launching a separate app, Zepto Café, to deliver food items like chai, samosa, and pizza within 10 minutes. This move challenges established players like Zomato and Swiggy in the rapidly growing quick-commerce food delivery market. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Fc7SqWE

Balancing inflation, growth key task for governor: Shaktikanta Das

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RBI Governor Shaktikanta Das, in his final press conference, emphasized the crucial coordination between the RBI and the government in managing inflation. He defended the RBI's stance on maintaining stable rates despite slowing growth, highlighting the impact of multiple factors. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/sqlOkv3

Sebi taps DigiLocker to ease unclaimed assets transfer

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Sebi plans to leverage the government's DigiLocker system to address unclaimed assets in the securities market. By integrating demat and mutual fund holding statements, and information on investor deaths, Sebi aims to streamline the transfer of assets to rightful heirs. This initiative will consolidate individuals' financial holdings within their DigiLocker accounts and notify nominees upon the account holder's demise. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/sIo4vhz

Hope for progressive regulatory regime: Amazon

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Amazon India's senior VP, Amit Agarwal, amidst regulatory scrutiny, affirms compliance and advocates for progressive e-commerce policies. He emphasizes investments in logistics and infrastructure, not cash burn, and highlights a new quick commerce pilot program in Bangalore. Agarwal reiterates Amazon's long-term commitment to India's growth. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/GJBuvZb

IATA director general raises concerns over India's air traffic congestion amidst aviation growth

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