New Delhi: The Indian economy is estimated to grow by 7.3 percent in 2023-24 fiscal against 7.2 percent a year ago, mainly due to good show by mining and quarrying, manufacturing, and certain segments of services sectors. As per the first advance estimates of national income released by the National Statistical Office (NSO) on Friday,…
New Delhi: Gautam Adani once again became Asia’s richest man on Friday, according to a Bloomberg index of the world’s billionaires, a year after allegations of market manipulation hammered his conglomerate’s stock prices. Adani Group saw more than $150 billion wiped from its market value after a bombshell report by US investment research firm Hindenburg…
Mumbai: India’s forex reserves jumped by USD 2.759 billion to USD 623.2 billion in the week ended December 29, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had increased by USD 4.471 billion to USD 620.441 billion. In October 2021, the country’s forex kitty had reached an all-time high…
Chennai: The Central government has done precious little to ease Tamil Nadu’s financial burden, the state Finance Minister Thangam Thennarasu claimed on Friday and accused it of following different yardsticks in devolving funds to states. For every single rupee given to the Centre, the state got back only 29 paise but the ratio was different…
Mumbai: With the system level liquidity remaining tight, the Reserve Bank on Thursday said it will conduct a seven-day variable rate repo (VRR) auction for Rs 1 lakh crore under LAF (liquidity adjustment facility) on January 5. On reviewing current and evolving liquidity conditions, it has been decided to conduct a variable rate repo auction…
New Delhi: Sebi on Thursday said Govindayapalli Ram Mohan Rao has taken charge as an executive director and will handle the departments of investigation and internal inspection. Earlier, Rao was the regional director of the eastern regional office of Sebi (Securities and Exchange Board of India). In that role, he had supervised diverse portfolios, including…
New Delhi: Billionaire Gautam Adani reacting to the Supreme Court judgment on allegations levelled by a US short-seller against his conglomerate, said on Wednesday that truth has prevailed and his group would continue to contribute to India’s growth story. The Supreme Court on Wednesday ruled that there was no ground to order an investigation by…
Mumbai: Maharashtra Chief Minister Eknath Shinde on Tuesday directed the state officials to prepare a “flawless” survey report of the Maratha community in the state. Shinde issued the directives to the divisional commissioners, district collectors and municipal commissioners in the state in a video-conference meeting held during the day. Referring to the Supreme Court’s decision…
Mumbai: The Reserve Bank on Tuesday proposed allowing banks having net non-performing assets (NPAs) ratio of less than 6 percent to declare dividends. As per the prevailing norms last updated in 2005, banks need to have an NNPA ratio of up to 7 percent to become eligible for declaration of dividends. “The net NPA ratio,…
Jamshedpur: The steel sector in the country is still in recovery mode after the Covid pandemic, Tata Steel CEO and MD T V Narendran said on Monday. He said demand for steel will continue to grow, backed by the government’s focus on infrastructure development. “This (2023) has been good year for the steel sector in…
