In this issue

March 07, 2024

RBI asks credit card issuers to allow customers to select network

No clarity on co-branded cards

2 mins

Chennai's tech minds drive Ford's global Al transformation

Almost 18 months after the Ford India manufacturing unit ceased operations near Chennai, the American major, through Ford Business Solutions (FBS), is on an expansion and hiring spree in the city.

2 mins

Investors flee NBFCs as RBI widens crackdown

34 of 43 NBFC stocks decline; Nifty Bank index rises

2 mins

CCI: Initial penalties on companies won't be on global turnover

While determining monetary penalties, the Competition Commission of India (CCI) will reckon on factors such as how long the rules were violated, whether the offence has been repeated, and the extent of cooperation by the company, the latest guidelines issued by the antitrust watchdog on Wednesday said.

2 mins

FY24 GDP growth could be close to 8%: Das

RBI governor says 85% Paytm wallet users won't face disruption

3 mins

FMCG to see subdued growth till Sep quarter

The Indian fast-moving consumer goods (FMCG) sector is expected to see subdued growth up until the September quarter of the ongoing calendar year, said a report by Kantar.

2 mins

Haier targets 2nd spot in appliances space in five years

Household appliances maker Haier aims to become the second-largest player in the country in the coming five years on the back of technologyled innovation, it said on Wednesday.

1 min

India Inc may see average salary hike of 9.6% in 2024

India Inc may offer an average salary hike of 9.6 per cent in 2024, similar to the actual increase last year, according to a report released by global professional services provider Ernst & Young (EY) on Wednesday.

2 mins

Health care innovation market to touch $60 bn by FY28

Health care innovation in India, currently valued at $30 billion, is expected to double by FY28, according to a recent report by Bain & Company and HealthQuad.

2 mins

Kerala to launch first govt-backed OTT platform ОТТ

The Kerala government is set to launch India's first government-backed OTT platform called CSpace on Thursday in its bid to provide space to lowbudget and independent films and check what it called \"growing imbalances\" in content selection and propagation.

1 min

Accenture invests $1 billion in Al-powered learning platform

Accenture on Wednesday has launched a new artificial intelligence (AI)-native learning platform to provide clients with comprehensive technology learning and training services that will help them reskill and upskill employees in technology, data and AI.

1 min

More Retail stake sale plan sees lukewarm response

Samara-Amazon JV was looking to raise funds at $2 billion total valuation

1 min

GREEN POWER, CAPTIVE MINING REMAIN A CORNERSTONE Aluminium firms race to cut production costs

Vedanta Aluminium aims for industry leadership in production cost, while Hindalco Industries hopes for higher cost stability.

2 mins

States stare at taxing times with windfall at stake

All eyes now on the apex court as it tries to answer whether states have the power to levy tax on mineral-producing land

2 mins

Fairfax commits $200 mn liquidity support to IIFL Fin

Holds 15% in the gold loan NBFC

1 min

GPay, PhonePe gain on Paytm bank fallout

Google and Walmart Inc. are rapidly gaining customers from India's Paytm, the fintech pioneer struggling to navigate central bank restrictions and the potential shutdown of a key payments affiliate.

1 min

8 NBFCs eye ECB route to raise over $2 billion

Execs say overseas borrowing likely to grow as hedging costs are low

1 min

'PSUs fell short in compliance, governance'

Public sector undertakings (PSUS) fell short in compliance regarding board structures and corporate governance, as per a report by Institutional Investor Advisory Services (IIAS).

1 min

CRISIL raises India growth forecast for FY25 to 6.8%

Rating agency CRISIL on Wednesday raised its economic growth forecast for India for the next financial year (FY25) to 6.8 per cent from 6.4 per cent estimated earlier, citing higher growth momentum.

1 min

Shipping P&I club may soon set sail

Govt speaks to insurers to iron out details of its proposed domestic protection and indemnity club

2 mins

Processed pulses to attract 18% GST, rules Andhra AAR

Parties said GST is not applicable to agricultural produce

1 min

Govt, exporters may discuss Red Sea crisis tomorrow

Senior officials from different ministries and exporters are expected to hold discussions on March 8 on issues being faced by exporters due to the Red Sea crisis, an official said.

1 min

Monthly natural gas trades rose 17% in February: IGX

A significant fall in the global natural gas prices led to the monthly gas volumes traded on the India gas exchange (IGX) rising by 17 per cent to touch 6.13 million metric million British thermal unit (mmBtu) in February, the company said on Wednesday.

1 min

Willing to procure jute, cotton if prices fall below MSP: Govt

The government is willing to procure the harvest of jute and cotton from farmers if the market price is lower than the Minimum Support Price (MSP), Union Minister Piyush Goyal (pictured) said on Wednesday.

1 min

State to rake in ₹80K cr via solar energy push

The Uttar Pradesh government has set an ambitious target of producing 22,000 megawatt (Mw) through a slew of solar energy projects by 2027, a move that is expected to rake in investments to the tune of ₹80,000 crore.

1 min

2.4 mn paddy farmers to get ₹13,000 crore

The Chhattisgarh government will on March 12 transfer ₹13,000 crore to accounts of 2.4 million farmers that was due against the paddy they sold, Chief Minister Vishnu Deo Sai has said.

1 min

Iron ore e-auction to attract investment

The e-auction of iron ore blocks started by the Rajasthan mines department in Karauli will attract new investments in steel and cement sectors in the surrounding area as well, the state government expects.

1 min

PM hits out at TMC over Sandeshkhali incident

Party retorts, citing Brij Bhushan, Bilkis Bano case and Manipur violence

1 min

Navalny died of natural causes: Russia spy agency

Russia's spymaster said on Tuesday that opposition leader Alexei Navalny died of natural causes, a statement that appeared to reflect the Kremlin's efforts to assuage international outrage over the death of President Vladimir Putin's fiercest foe.

1 min

$1,780 to spend the night in a 'cocoon'? Hotels now betting on sleep tourism

Al-assisted beds, on-call hypnotherapists are taking sleep tourism to the next level

3 mins

Haley ends bid as Trump sweeps Super Tuesday

Biden also prevails in almost every nominating contest

2 mins

Fed Needs More Confidence On Inflation To Cut Rates: Powell

Federal Reserve Chair Jerome Powell reiterated to lawmakers that the US central bank is in no rush to cut interest rates until policymakers are convinced they have won their battle over inflation.

1 min

Musk backed for-profit move, pushed for merger: OpenAI

OpenAI fired back at a lawsuit filed against it by Elon Musk in a blog post Tuesday, using the billionaire's own emails to show he backed the company's plans to become a forprofit business and that he insisted it raise \"billions\" of dollars to be relevant compared with Google.

1 min

Confidence booster

Index inclusion reflects confidence in India

2 mins

Women's rights as a power play

International Women's Day falls tomorrow, that time of the year when journalists' inboxes are flooded with entreaties to cover some corporate initiative or the other to \"empower\" women.

3 mins

Different lanes

Tata Motors demerger will improve efficiency

2 mins

Towards the age of Meta Reason

Few books have the knack of timing their release right and this is one of them.

3 mins

India And The IEA: Friends With Benefits?

Expanding the global energy body membership to include India is crucial for ensuring global energy security

5 mins

Bitcoin rally fuels revival hope for Indian crypto exchanges

The cryptocurrency exchanges in India have got a fresh lease of life following the bull run in Bitcoin, which briefly hit a new all-time high of more than $69,000.

2 mins

Slowdown in mass segment may force Bata to buckle up

The Bata India stock has been the top loser among larger listed players in the footwear segment, falling 12 per cent over the past three months.

2 mins

TWO-THIRDS OF SMALLCAP MULTIBAGGERS AFTER PANDEMIC LOWS DESPITE VOLATILITY

A significant proportion of smaller companies remain multi baggers despite the recent dip.

1 min

Women fund managers handle one-eighth of MF assets

Of them, 93.5% outperform peers over a 5-yr period, shows Morningstar report

1 min

Benchmarks log fresh highs, smallcaps crack

Sensex ends above 74K for first time; Nifty Smallcap drops 2%

2 mins

Reading the pulse of pharma stocks for FY25

Analysts sound alarm on valuations after sharp rally over the past year

2 mins

Cross-check with multiple lenders for accurate valuation

For fairer assessment, select a lender that uses an external assayer

3 mins

Good news for newspapers

The newspaper trade is growing after five years. How publishers use this bounty will determine its future

4 mins

Read all stories from Business Standard

Business Standard Newspaper Description:

Business Standard is India's leading business daily.
A preferred choice of serious business readers, Business Standard is acknowledged as a quality leader.

Business Standard stands for reporting that stresses accuracy and credibility, commentary that is informed, independent and fair, and journalism that is rooted in ethical conduct and defined by a sacrosanct bond with the reader. All Business Standard journalists sign on to a code of conduct that is available on the website.

Business Standard's editorial team is led by Shyamal Majumdar.

The English newspaper is published from 12 centers - New Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Ahmedabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. It is also printed from Bhopal.

The Hindi Business Standard is published from eight centres - New Delhi, Mumbai, Kolkata, Patna, Lucknow, Bhopal, Chandigarh and Raipur.