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Reserve Bank of India lifted the business restrictions imposed on Edelweiss Group’s key entities, ECL Finance Ltd and Edelweiss Asset Reconstruction Company Limited, effective immediately. This decision follows the companies’ implementation of corrective actions to address previous supervisory concerns. Restrictions were initially imposed on May 29, 2024, under the RBI Act and SARFA...
India’s sugar production in the 2024-25 season has fallen 17% short year-on-year, according to the Indian Sugar and Bio-energy Manufacturers’ Association (ISMA). The decline is attributed to a higher diversion of sugar for ethanol production and a delayed start to sugarcane crushing operations in Maharashtra and Karnataka, which has impacted overall output.
Dish TV India has partnered with UK-based C21 Media to launch Content India, a trade event aimed at positioning India as a global content hub. Scheduled for April 1-3, 2025, the three-day summit will serve as a precursor to the Content India 2026 event. It will feature a marketplace, conferences, and networking opportunities for industry […]
The rupee settled at 84.90 against the US dollar, gaining 1 paisa despite weak trade balance data and declining domestic markets. It had reached an intra-day low of 84.93. Traders anticipate continued pressure on the rupee due to economic slowdown concerns, high dollar demand, and a widening trade deficit. The dollar index rose, and crude […]
Business activity between the UK and India has surged in 2024, with payments received by clients in Britain from India rising by 121%, according to HSBC UK. The bank’s latest data highlights significant year-on-year growth in payments and client referrals, reflecting the strengthening of the India-UK business corridor and HSBC’s two-way support for businesses.
The CBDT has issued alerts to taxpayers about mismatches between transactions reported in the Annual Information Statement (AIS) and Income Tax Returns (ITRs) for FY 2023-24 and 2021-22. The department encourages taxpayers to file revised or belated ITRs, with the deadline for FY 2023-24 set for December 31. The e-Verification Scheme aids in resolving discrepancies […]
Indian billionaires Mukesh Ambani and Gautam Adani have exited the $100 billion net worth club, as reported by Bloomberg. Ambani’s wealth decline is linked to underperformance in his energy and retail businesses, along with significant expenses, including his son’s wedding. Despite shifting focus to digital platforms, growth in retail has slowed, affecting his finances.
The Central government revealed that Life Insurance Corporation had unclaimed insurance compensation funds amounting to ₹880.93 crore, which matured in the last financial year. It also disclosed that 3,72,282 policyholders have not claimed their maturity benefits. Also, LIC reported unclaimed death benefits worth ₹14 lakh for the year 2023-24.
The Sensex and Nifty opened at fresh record levels in early trade today, December 17, 2024. The Sensex started trading today at 81515.88, down 232.69 points or 0.28%, and the Nifty was at 24583.20, down 85.05 points or 0.34%. Meanwhile, the Indian rupee was trading today at 84.91 against the dollar.
Here are the petrol prices per liter today in the top metro cities in India. ★ Delhi – ₹94.72, ★ Kolkata – ₹104.95, ★ Mumbai – ₹103.44, ★ Chennai – ₹100.98, ★ Bangalore – ₹102.88, ★ Bhubaneswar – ₹101.06, ★ Chandigarh – ₹94.24, ★ HYD – ₹107.41, ★ Jaipur – ₹104.88, ★ Lucknow – ₹94.53, […]
The new ₹500 note, issued by the Reserve Bank of India, boasts advanced security features and a sleek design. It is part of the Mahatma Gandhi (New) Series, with a stone-grey color and motifs of the Red Fort symbolizing India’s heritage. Key features include a transparent security thread and a color-changing numeral ‘500’ micro-text.
Stolen iPhones, despite Apple’s security, find their way to underground markets like Shenzhen, China. Instead of being sold intact, these devices are disassembled, with parts sold individually to make them untraceable. China dominates the global trade in stolen electronics, with phones being smuggled and dismantled. Apple’s security measures, like activation locks, fuel this illicit...
Congress accused SEBI Chairperson Madhabi Buch of a conflict of interest, citing her alleged financial ties with ICICI Bank while regulating it. K.C. Venugopal demanded a joint parliamentary committee probe, criticizing Finance Minister Nirmala Sitharaman for not acting on these allegations. He raised concerns about the government’s inaction impacting investor confidence and regulatory tr...
Wholesale inflation in India eased to 1.89% in November, down from 2.36% in October, with food prices, especially vegetables, seeing a significant drop. Food inflation decreased to 8.63%, led by a sharp reduction in vegetable prices. However, potato prices remained high at 82.79%. Fuel and power inflation saw deflation, while inflation in manufactured items rose […]
Indian stock markets ended in the red on Monday, mirroring their Asian peers. Sensex settled at 81,748.57, down 384.55 points or 0.47%. Similarly, Nifty ended 100.05 points or 0.40% lower at 24,668.25. Notably, broader markets outperformed the benchmarks. Midcap ended higher by 0.77%. This was followed by Smallcap index, which ended higher by 0.64%.