New Delhi: Withdrawal of Rs 2,000 currency notes is a ‘non-event’ and will have zero impact on the economy and monetary policy, former finance secretary Subhash Chandra Garg said on Saturday. The higher denomination currency note of Rs 2,000, he said, was pressed into service at the time of demonetisation in 2016 for ‘accidental reasons’ to…
New Delhi: India’s largest lender SBI was quite slow in procuring goods and services from government-owned GeM portal in 2022-23 and lagged behind smaller counterparts, including Canara Bank and Punjab National Bank, according to the government data. Canara Bank emerged as the largest buyer among the state-owned lenders in 2022-23, making total purchases of Rs 592.82…
New Delhi: Capital markets regulator Sebi on Tuesday proposed to reduce the time taken for the listing of shares on stock exchanges after the closure of initial public offerings (IPOs) to three days from six days at present. The proposed reduction in timelines for listing and trading of shares will benefit both issuers as well…
New Delhi: US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027. The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and…
Hyderabad: Biotechnology company GeneSys Biologics Pvt Ltd is planning to invest USD 50-60 million to set up a new large-scale recombinant bulk manufacturing facility in Genome Valley here for the production of insulin analogues. The insulin analogues (medical insulin that are altered forms of the human hormone insulin) will be produced in the recombinant bulk manufacturing…
Mumbai: The Reserve Bank of India on Friday approved a Rs 87,416 crore-dividend payout to the central government for 2022-23, nearly triple of what it paid in the previous year. The dividend payout is significantly higher than the amount estimated in the Union Budget 2023-24 from the central bank and state-owned financial institutions. The government…
New Delhi: The Ghaziabad-Aligarh Expressway has made history by laying of bituminous concrete over a distance of 100 lane kilometers in an unprecedented time of 100 hours, an official statement said on Friday. The ministry of road transport and highways in a statement said this accomplishment highlights the dedication and ingenuity of India’s road infrastructure…
New Delhi: Union Chemicals and Fertilisers Minister Mansukh Mandaviya on Friday asked foreign companies to invest in India’s petrochemical industry that presents huge business opportunities. Addressing ‘Asia Petrochemical Industry Conference 2023’, Mandaviya asserted that the Modi government is pro-farmer, pro-poor and is also industry-friendly. He said the government is making long-term policies for chemicals and petrochemicals…
New Delhi: Embracing digital transformation in response to the Covid pandemic, media company ZEE is focused on leveraging cutting-edge technologies to deliver personalised content experiences to global audiences, says Kishore A K, Chief Technology Officer (CTO) of Zee Entertainment Enterprises Limited. The pandemic, he said, increased demand for digital channels and streaming services, presenting an…
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….
