Tuesday, February 7, 2023

Business

100 airports to be developed by 2024 under UDAN scheme

The government has planned to develop 100 airports by 2024 under the Regional Connectivity scheme (RCS)-Ude Desh ka Aam Nagrik (UDAN) infrastructure scheme.Upgradation and modernization of airports is a continuous process and is undertaken by Airports Authority of India...

Adani Group promoters to prepay $1.11 bn

Adani Group on Monday said that the promoters will pre-pay $1,114 million for the release of pledged shares of its firms ahead of the maturity in September 2024. These shares belong to Adani Ports & Special Economic Zones, Adani...

RBI’s MPC meeting starts amid expectations of lower rate hike

RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) started its three-day meeting on Monday amid expectations of a smaller 25 basis points rate increase or a pause on the rate hiking spree that started in May last year to...

Budget gives larger wings to UDAN

While the last couple of months have witnessed consistent growth in the aviation traffic in the country, the budget announcement to revive 50 aircraft landing sites comprising airports, heliports and water aerodromes is likely to give more wings to...

Hackers stole $3.8 bn from crypto investors in 2022

Cryptocurrency hackers stole $3.8 billion last year, making it the worst year on record for crypto investors, up from $3.3 billion in 2021.According to Blockchain analytics platform Chainalysis, October was the biggest single month ever for cryptocurrency hacking, as...

India’s focus should be on reducing dependence on China: Suman Bery

NITI Aayog vice chairman Suman Bery on Sunday said that India’s focus should not be on overall trade deficit with China, instead it should be on reducing New Delhi’s dependence on Beijing for certain critical inputs.According to Bery, the...

Adani’s FPO pullout has not impacted India’s image: FM

India’s economic image is not affected due to Adani Group’s recent decision to pull out Rs 20,000 crore FPO amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.The finance minister said there has been an accretion...

Banking sector remains resilient and stable: RBI

The Reserve Bank of India (RBI) on Friday said that the banking sector remains resilient and stable, allaying fears amid growing concern about the exposures of Indian banks to the Adani Group.“As the regulator and supervisor, the RBI maintains...

Amazon ‘faces’ US FTC antitrust investigation over market practices

The U.S. Federal Trade Commission (FTC) is reportedly preparing an antitrust suit against Amazon over its allegedly monopolistic market practices. According to a report in The Wall Street Journal citing sources, the FTC could challenge an array of the e-commerce...

Markets ‘Very well regulated’: Sitharaman on Adani stock crash

Finance Minister Nirmala Sitharaman said Friday the country’s markets were “well regulated” and she did not expect the controversy around tycoon Gautam Adani’s business empire to affect investor confidence.The combined market cap of Adani Group’s listed units has collapsed...

RBI seeks details of banks’ exposure to Adani Group

The Reserve Bank of India (RBI) has sought details about lenders’ exposures to the Adani Group, banking sources said, a day after the conglomerate withdrew the Rs 20,000-crore follow on public offer (FPO) of its flagship firm Adani Enterprises...

FM announces savings scheme for women

Union Finance Minister Nirmala Sitharaman Wednesday announced a ‘Mahila Samman Saving Certificate’ with a fixed interest rate of 7.5 per cent for two years. The deposit can be made in the name of a woman or a girl child....

Old income tax regime vs new income tax regime

Union Finance Minister Nirmala Sitharaman on Wednesday gave a makeover to the new income tax regime, with lower tax rates and introduction of standard deduction. However, the old income tax regime—which allows for deductions such as home loan interest...

Budget Relief: No tax for income up to Rs 7L in new tax regime

The income in personal income tax is expected to raise disposable incomes and transition the taxpayers to the new tax regime. Suman Chowdhury, Executive Director & Chief Analytical Officer, Acuite Ratings & Research said, "The rationalization of the personal income...

State govt signs MoU with Patanjali foods Ltd

A Memorandum of Understanding (MoU) was signed between the State Government, represented by the director of Agriculture, Nagaland and Patanjali Foods Ltd (PFL) (Formerly known as Ruchi Soya Industries Ltd) represented by Subhas Bhattacharjee, Head-NE Region, Oil Palm on...