In this issue

May 25, 2023

Inflation war not over; FY23 growth may top 7%: RBI guv

'Withdrawal of ₹2K notes to be completed in non-disruptive manner'

3 mins

75 years later, a tryst with Sengol again

Crafted in 1947, historic sceptre to take pride of place in new Parliament building

3 mins

On unicorn drive, SoftBank eyes 5 Indian start-ups

May invest up to $100 mn in each start-up in contrast to big funding rounds earlier

2 mins

Probe finds 4 more firms in FAME-II violations

The central government in its second round of investigation into the alleged violation of Phased Manufacturing Programme (PMP) guidelines under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME-II) scheme has found four more original equipment manufacturers (OEM) not conforming to the norms.

2 mins

ADIA, Hinduja group, IHC may snap up Adani shares

Shares worth up to ₹29,000 crore of three group companies could be put up for sale

2 mins

ADANI GROUP MAY INVEST $3 BN IN VIETNAM

Adani group is exploring the possibility to invest up to $3 billion in seaport and renewable energy projects in Vietnam, the Vietnamese government said in a statement on Wednesday.

1 min

DGCA to audit Go First before it can restart services

Aviation regulator Directorate General of Civil Aviation (DGCA) will conduct an audit of cash-strapped carrier Go First's preparedness to restart its operations, the company said on Tuesday night in an internal memo.

1 min

BSNL looks to ring in 100 mn 4G users in a couple of years

State-run BSNL seeks to get 100 million customers to use its 4G service in the next 12-24 months as it rolls out the services across the country, Union Minister of Communications Ashwini Vaishnaw told Business Standard.

1 min

Nykaa net slumps 72% on low sales, revenue rises 34%

Hindalco Q4 net falls 37% to ₹2,411 crore

1 min

Hindalco Q4 net falls 37% to ₹2,411 crore

Hindalco Industries on Wednesday reported a 37 per cent fall in its consolidated net profit to ₹2,411 crore for the March quarter due to a rise in operational costs.

1 min

CATAMARAN TO DOUBLE INVESTMENTS

The money manager of billionaire Infosys founder Narayana Murthy (pictured) will hire professionals and double its $1 billion in investments in the next five years, betting India will emerge as a high-quality manufacturing hub.

1 min

Day 2 of ₹2K note exchange: Some banks run out of cash for swap

Some bank branches ran out of cash and temporarily halted the exchange of withdrawn ₹2,000 currency notes as they awaited replenishment of supply from the currency chest on the second day of note swap on Wednesday.

1 min

Allow MSMEs to pay liabilities in tranches: Exporters to govt

Exporters have urged the government to allow small businesses availing themselves of the amnesty scheme to pay liabilities in instalments over a period of time instead of making the entire payment by September 30.

1 min

Retrospective booster to put surety bonds in the fast lane

Convert existing bank guarantees into surety bonds: Gadkari to contractors

2 mins

LICFY23 profit jumps ninefold to ₹36,397 cr

Insurance behemoth posts 466% surge in 04 profit, board recommends final dividend of ₹3 per share

1 min

Goyal: Country's forex reserves comfortable for next 5-6 years

'Quality gets better mkt, need to change mindset'

1 min

India to be major green H₂ exporter in 15 yrs: Puri

India will be a major green hydrogen hub in the next 15 years, meeting not only domestic demand but also becoming a key exporter of the promising fuel, Petroleum and Natural Gas Minister Hardeep Singh Puri said.

1 min

Domestic crowded, go int'l: Scindia to airlines

Taxes collected by govt exceed airlines' losses, says Vistara chairman

2 mins

Fake ITCs under GST a challenge for govt:CBIC

Goods and services tax (GST) registration is suspended only in cases of serious violation such as someone taking wrong input tax credits (ITC), a Central Board of Indirect Taxes and Customs (CBIC) official on Wednesday, terming fake ITCS \"a huge challenge for the government\".

1 min

Modi-Albanese talks focus on green H₂

On the concluding day of his Australia visit on Wednesday, Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese discussed ways to boost bilateral trade and economic cooperation.

1 min

Betting on 5G, coding to train youth for jobs

Taking into account the fast-changing job market, the Uttar Pradesh government is taking steps to make the youths ready for future work profiles.

1 min

Farmers to get free vegetable seed kits

The Rajasthan government has decided to provide free seed kits of vegetables to around 2 million farmers at a cost of ₹60 crore in the financial year 2023-24.

1 min

19 Opposition parties to skip inauguration

NEW PARLIAMENT BUILDING

1 min

Branson's rocket dream ends: Virgin Orbit stripped for parts

Virgin Orbit, once valued at $3.7 billion, has been chopped up for parts. The company has concluded the auction for some of its assets, which were put up for fire sale as part of its Chapter 11 bankruptcy proceedings. Altogether, the three winning bids come to around $36 million.

1 min

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