Business Standard - February 08, 2025

In this issue

February 08, 2025

Infosys lays off around 350 at Mysore campus

Infosys has laid off about 350 employees, who were taken on board in October 2024 following more than two and a half years of wait after getting their offer letters, according to people familiar with the matter.

2 mins

Britannia to take 'capex break' amid subdued demand

Britannia, the manufacturer of biscuit brands such as Bourbon and Pure Magic, is planning to halt capital expenditure next financial year even as it has announced increasing prices of its products.

1 min

Cabinet clears new I-T Bill; law set to be simpler

The Union Cabinet on Friday approved the new income-tax Bill, which is likely to be tabled in Parliament next week.

2 mins

Kerala to Draw More Tax From ₹15 Lakh+ EVs to Charge Up Revenue

The Kerala government on Friday announced to hike road taxes for private electric vehicles (EVs) priced above ₹15 lakh in its bid to capitalise on the state's EV boom, a move which industry players believe may dampen EV sales and its rapid penetration.

2 mins

RBI ends rate cut wait; Malhotra stresses 'less restrictive' policy

First repo cut in 5 yrs, of 25 bps to 6.25%, set to ease home loan rates; MPC keeps 'neutral' stance

4 mins

Naveen Jindal group announces nuclear power foray

The Naveen Jindal Group of companies on Friday announced its foray into nuclear energy with the establishment of a new company Jindal Nuclear Power Private Limited, which aims to contribute 18 Gigawatts (Gw) over the next two decades to India's ambitious target of 100Gw nuclear power capacity by 2047.

1 min

Executors to move HC for probate of Tata will

The executors of the late Ratan Tata's will are expected to move the Bombay High Court next week to probate the will amid a simmering dispute between the Tata family and Mohini Mohan Dutta, a former confidant of Tata, over the quantum of the settlement.

1 min

EV sales surge in January on renewed subsidy push

Sales of electric vehicles (EVs) in the country surged 19.4 per cent month-onmonth (M-o-M) and 17.1 per cent year-on-year (Y-0-Y) to 169,931 units in January, according to data from the Federation of Automobile Association (Fada).

2 mins

Rado eyes double-digit growth in India this yr

Swiss luxury watchmaker Rado expects to see high double-digit growth in India this year as the country's middle class continues to grow amid a slowdown in China.

1 min

M&M PAT up 20% riding on auto, farm segments

Mahindra Mahindra and (M&M) posted a 20 per cent rise in consolidated profit after tax (PAT) at 3,181 crore in Q3FY25, riding on strong auto and farm segment numbers, which saw volumes grow by 16 per cent during the quarter.

1 min

Fiscal monetary harmony for growth

After the pro-consumption pivot the government made in its Budget, the Reserve Bank of India (RBI), too, has come to the party.

2 mins

Bank.in, fin.in: New domains to tackle cyber fraud soon

Extra security for international online transactions on cards

1 min

Intervention aims to maintain stability, orderliness: Malhotra

Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday reiterated the central bank's stated strategy of maintaining orderliness and stability in exchange-rate policy and added the objective was not to compromise on market efficiency.

2 mins

Affordable housing segment may benefit

Real estate industry leaders are expecting that the Reserve Bank of India's (RBI's) rate cut will boost housing demand, particularly in the midhousing segment.

1 min

Households expect inflation to ease, consumer confidence dips

Indian households expect moderation in inflation for the near term while consumer confidence declined marginally due to somewhat tempered sentiments, according to the RBI's forward-looking surveys in January 2025.

1 min

Soon, non-bank brokers can directly access NDS-OM

The Reserve Bank of India (RBI) announced on Friday that it will allow non-bank brokers registered with the Sebi to access the negotiated dealing system-order matching (NDS-OM) platform.

1 min

A rate cut and much more

What Indonesia's central bank did in January, the Reserve Bank of India (RBI) did on Friday-apolicy rate cut despite the pressure of the local currency's depreciation against the dollar.

4 mins

Banks get a breather on draft LCR norms for at least a year

In a much-needed relief to banks regarding the impending implementation of the proposed liquidity coverage ratio (LCR) guidelines, which was to come into effect from April 1, Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday said these regulations would not be enforced before March 31, 2026.

2 mins

Eway bill generation hits new high in Jan

The eway bills, or electronic permits, generated by businesses for transporting goods within and across states, grew 23.1 per cent year-on-year (Y-o-Y) in January to reach a record 118.1 million, according to data released by the Goods and Services Tax Network (GSTN) portal.

1 min

Small savings schemes may see rate cut in FY26

In a bid to boost consumption following the repo rate cut by the Reserve Bank of India, the Union Ministry of Finance may consider bringing down the rates for small savings schemes in the next financial year, government sources indicated.

1 min

Amazon says it can't keep up with AI demand

Warning comes despite the tech giant's plan to invest $100 bn this year

2 mins

Iran's supreme leader warns against Trump negotiations

Iran's supreme leader Ayatollah Ali Khamenei (pictured) said Friday that negotiations with America \"are not intelligent, wise or honourable\" after President Donald Trump floated nuclear talks with Tehran.

1 min

Israel probe: Trump slaps sanctions on top UN court

President Donald Trump authorised sanctions on International Criminal Court (ICC) officials who investigate the US and its allies, a move that drew condemnation from the Hague-based tribunal.

1 min

Hacking AI for the big bang

In 1975, Princeton physics undergraduate John Aristotle Phillips wrote a paper on how to make an atom bomb, using only publicly available information. Phillips wished to prove the technical knowledge was easily available.

3 mins

Google has made a dangerous U-turn on military AI

Google's \"Don't Be Evil\" era is well and truly dead. Having replaced that motto in 2018 with the softer \"Do the right thing,\" the leadership at parent company Alphabet Inc has now rolled back one of the firm's most important ethical stances, on the use of its artificial intelligence by the military.

3 mins

May I introduce you to the tariff

Free trade is a myth-not because it doesn't work, but because it doesn't exist. This is why democratic governments should come together and create a new trade regime to enforce balance

5 mins

EYES ON THE ROAD

For lyer, the drive is as much about the journey as it is about the destination - whether on the road or steering Mercedes-Benz India into the future

5 mins

Samsung TN unit sees 2nd labour dispute in 5 months

There seems to be no end to the woes of the Samsung Electronics unit in Sriperumbudur, nearly 50 km from Tamil Nadu's capital Chennai, as the unit has been witnessing its second labour dispute in the last five months, for the last three days.

1 min

Sebi cracks down on 'Options Queen', others for 'illegal gains'

Directs them to disgorge ₹53.67 cr

2 mins

Deposit ₹600 crore by Feb 12: SC to Gaekwad

The Supreme Court on Friday extended the Burman family's open offer for an additional stake in financial services firm Religare Enterprises to February 12.

2 mins

Rate cut fails to cheer markets

Benchmark indices end in the red; lack of measures to boost liquidity dents investor sentiment

2 mins

Probe agencies line up measures to crack down on illegal travel agents

A day after External Affairs Minister S Jaishankar told Parliament that the focus should be on a \"strong crackdown on the illegal migration industry\", central probe agencies and state police forces on Friday announced a slew of measures that they plan to take against such travel agents.

1 min

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