Mumbai: Malabar Gold and Diamonds on Friday said it has obtained a TRQ (Tariff Rate Quota) license from the Director General of Foreign Trade (DGFT). TRQ will help Malabar Gold and Diamonds in importing gold through the IIBX, under the India-UAE Comprehensive Economic Partnership Agreement (CEPA), at reduced duty rates, the company said in a statement….
Mumbai: The Reserve Bank of India on Friday announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited in bank accounts or exchanged by September 30. The bank notes in Rs 2,000 denomination will continue to be a legal tender, the RBI said in a statement. In order…
Mumbai: Rising for the second consecutive week, India’s forex kitty jumped USD 3.553 billion to USD 599.529 billion for the week ended May 12, the RBI said on Friday. The overall reserves had jumped by USD 7.196 billion to USD 595.976 billion for the previous reporting week. It can be noted that in October 2021, the…
New Delhi: The Supreme Court on Friday directed the Bihar government to produce complete original records with regard to the remission granted to former MP Anand Mohan, who was serving life term in the 1994 murder case of then Gopalganj District Magistrate G Krishnaiah. A bench of Justices Surya Kant and JB Pardiwala told advocate Manish…
New Delhi: Dwarka Expressway, India’s first elevated 8-lane access control urban expressway, being constructed at an estimated cost of Rs 9,000 crore, as part of the Delhi decongestion plan, will be completed by April 2024, Union Minister Nitin Gadkari said on Thursday. The Expressway will be completed in four packages, he added. Gadkari was inspecting the…
New Delhi: S&P Global Ratings on Thursday affirmed India’s sovereign rating at ‘BBB-‘ with a stable outlook and said sound economic fundamentals will underpin growth over the next 2-3 years. The stable outlook on the long-term rating reflects S&P’s view that India’s strong economy and healthy revenue growth will support its weak fiscal settings. “S&P Global…
Mumbai: Electric bus maker PMI Electro Mobility on Thursday announced its entry into the Goa market with the delivery of 20 e-buses to state-owned Kadamba Transport Corporation Limited (KTCL). The delivery of these buses are part of a larger order of 48 electric buses, which are to be supplied to the public sector transport operator before…
New Delhi: Integrated financial services platform airpay on Thursday said it has gone live on the Open Network for Digital Commerce (ONDC). This will enable airpay’s vyaapaaris to have access to an array of local businesses offering multiple products and services on ONDC to consumers, it said in a release. Presently, airpay vyaapaaris offer banking and…
New Delhi: Shares of the country’s largest insurer LIC have tumbled nearly 40 per cent from its issue price in the first year of trade, with investors’ wealth eroding by Rs 1.93 lakh crore. LIC had listed at over 8 per cent discount on May 17 last year after a successful Initial Public Offering (IPO) which…
New Delhi: Prime Minister Narendra Modi will chair NITI Aayog’s Governing Council meeting on May 27, and issues related to the economy, agriculture and health are expected to be taken up for discussions, according to official sources. The council, the apex body of NITI Aayog, includes all Chief Ministers, Lieutenant Governors of Union Territories, and several…
