In this issue

September 29, 2022

'Can't fritter away forex reserves'

GOVT NOT IN FAVOUR OF DEFENDING AT SPECIFIC FX RATE

2 mins

Electric PVs take a decisive turn towards mass market

Twenty-one years after the launch of the two-seater Reva, India gets its first modern, fully-equipped electric passenger vehicle (ePV) priced below the critical threshold of ₹10 lakh. Tata Passenger Electric Mobility, which has set the pace in this segment, on Wednesday launched the e-Tiago, whose pricing begins at ₹8.49 lakh, ex-showroom.

2 mins

Centre extends free foodgrain scheme till Dec

Move to cost the exchequer additional ₹44,762 cr

2 mins

Oracle used slush funds to bribe Indian officials: SEC

'Contrary to core values,' says the firm, even as it faces $23-mn fine

2 mins

Ambuja creates NDU of 50% ACC shares for loans

Ambuja Cements, now controlled by billionaire Gautam Adani-led the Adani group, on Wednesday signed a nondealing undertaking (NDU) on 50.5 per cent shareholding in its subsidiary ACC as "collateral for loans taken by the company".

1 min

PATANJALI FOODS EYES EXPORT PROFILE OF FMCG, HEALTH PRODUCTS

Patanjali Foods plans on building a strong distribution-led export portfolio of fast-moving consumer goods and fast-moving health goods products and will also launch new products with high margin and high growth, the company said in a presentation at the exchanges. It also intends to focus on digital channels and e-commerce.

1 min

'Banks must help push aircraft leasing at GIFT'

Union, state govts gave many sops: Vistara exec

1 min

Boards of TaMo NBFCs to discuss merger next week

As part of the Tata group's exercise to bring synergies across various group companies, the boards of Tata Motors Finance Solutions Ltd (TMFSL) and Tata Motors Finance Ltd (TMFL) both subsidiaries of Tata Motors Finance Holdings are meeting separately on October 3 to consider a plan to merge their lending operations.

1 min

Oct 31 cut-off set for offline payments on RuPay cards

Move to breathe life into RBI framework

2 mins

Govt terminates sale of CEL to Nandal Finance

The Centre has terminated the sale of Central Electronics (CEL) to Nandal Finance and Leasing as the litigation pending against the successful bidder at the National Company Law Appellate Tribunal (NCLAT) violates the eligibility criteria for the sale.

1 min

Solar projects awarded before duty change allowed cost pass-through

Solar power projects awarded before the basic customs duty (BCD) on imported equipment kicked in have been allowed by the government to pass on the additional cost of procuring expensive cells and modules.

1 min

₹ at another low of 81.94 as Fed talks up rate hikes

RBI may have sold over $1 bn on Wednesday to stop from breaching 82/$

2 mins

2 Russian banks get RBI nod for ₹trade

Sberbank, JSC VTB to open special Vostro account

2 mins

Chitra gets bail in colo case

The Delhi High Court on Wednesday granted bail to former NSE boss Chitra Ramkrishna in the co-location scam case but she will not walk out of jail yet because her plea for the relief in the money laundering case related to alleged illegal phone tapping and snooping of some employees of the bourse is still pending.

1 min

Centre in 'mission mode' to fill vacancies in govt depts

Aiming to eliminate nearly 1 mn vacancies ahead of 2024 LS polls

1 min

Irdai mulls longer-tenure gen insurance products

The Insurance Regulatory and Authority of Development India (Irdai) is said to be exploring general insurance products with longer tenures and has written to the general insurance companies in this regard and formed a working group as well with representatives from the industry.

1 min

Day before Cabinet nod, FinMin opposed PMGKAY extension

A day before the Cabinet approved the extension of Pradhan Mantri Gareeb Kalyan Anna Yojana, an office memorandum (OM) from the Finance Ministry's Department of Expenditure, started doing the rounds of social media. In it was laid out the department's objections to the extension.

1 min

Govt bans PFI, associates for 5 years under UAPA

The Centre on T Wednesday banned the Popular Front of India (PFI) for five years under the stringent anti-terror law UAPA, accusing the Islamic outfit of having "links" with global terror groups such as the ISIS and and trying to spread communal hatred in the country.

1 min

Bank of England steps in to calm mkt amid IMF warning

To buy long-term debt to shield economy from 'material risk'

1 min

Putin to proclaim annexation of Ukrainian territory in days

European Union likely to place trade sanctions on Moscow over 'sham' votes

2 mins

Plunging mkts trigger new intervention warnings in Asia

After some of the most dramatic declines in global financial markets since the Federal Reserve began lifting borrowing costs six months ago, authorities in Asia are stepping up efforts to prevent a downward spiral.

2 mins

National priorities best served domestically

Shortcomings at home require unwavering attention

4 mins

RBI: Share of MFs in household savings grows in FY22

Retail investments rise as flows into bank deposits drop

2 mins

Rupee fall eases pain in foreign funds

Stronger $ cushions 1-yr losses in international MFs, helps Nasdaq pip Nifty gains over 3 yrs

2 mins

Sixth pack: Sensex in the red, bleeds 5.2% in six sessions

Global panic continues as FPIs sell shares worth ₹2,772 cr, tally turns negative for Sept

1 min

ITC surges 50% in 2022; analysts still bullish

The stock has outperformed the BSE FMCG index by 35% this year

2 mins

How is the Indian economy really doing?

All the heady optimism has overlooked the vulnerable state of the macro-economy. Caution, not complacency, is the more appropriate sentiment for now

5 mins

Over 100 mn users wish to upgrade to 5G: Ericsson report

More than 100 million users with 5G-ready smartphones wish to upgrade to a 5G subscription in 2023 while a majority of them are open to adopting a higher datatiered plan in the next 12 months, a report by Ericsson Consumer Lab has shown.

1 min

M&E eyes growth amid piracy, autonomy fears

Back after two years, FICCI Frames concludes with deliberations on key issues plaguing the sector

2 mins

Anil Chauhan named Chief of Defence Staff

Lt Gen Anil Chauhan (retd), a former eastern Army commander and director general of military operations, was, on Wednesday, appointed as India's new Chief of Defence Staff, more than nine months after the post fell vacant following the death of Gen Bipin Rawat.

1 min

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