Business

MUMBAI: Mobile phone purchases have become a key channel for individuals in the informal sector to get into the formal credit system. While the Jan Dhan Yojana provided everyone with bank accounts, availability of mobile phones on EMI is providing them with a credit history, opening the doors for other loans.“The key channels for the entry of new-to-credit (NTC) borrowers …

World leaders, the bosses of the world’s biggest companies and a sprinkling of celebrities gathered in the small Swiss mountain town of Davos for the annual World Economic Forum this week. On the other side of the Atlantic, President Donald Trump was starting his political comeback as the new US president. “Nothing will stand in our way”, he declared, as …

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails Energy secretary Ed Miliband only consulted fossil fuel companies, including oil giants BP, Eni and Equinor, between the general election and the government’s announcement to …

BENGALURU: LTIMindtree has named its former president, Venugopal (Venu) Lambu, as CEO designate and director effective Friday, with a five-year tenure. Operating from London, Lambu represents a rare instance of a senior executive returning to assume the CEO position at his former company. He has joined the board of directors at LTIMindtree.A three-decade IT veteran, Lambu was chosen over other …

Graham Fraser Technology reporter Getty Images Google has agreed to make “significant changes to its processes” to help tackle fake reviews of UK businesses, the regulator has announced. The Competition and Markets Authority (CMA) says the firm – which accounts for 90% of search in the UK – will attach warnings to companies found to have artificially boosted their star …

Budget 2025 income tax: It is anticipated that with the thrust of the Government on the adoption of the new tax regime, there may be no changes to the old tax regime. (AI image) By Parizad SirwallaBudget 2025 income tax expectations: Ever since the last Union Budget was presented in July 2024, the world has seen significant changes ranging from …

NEW DELHI: The Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets dairy products under the iconic Amul brand, has announced a price reduction of Re 1 per litre for its one-litre milk packs across India. The move, aimed at promoting the purchase of larger packs, was confirmed by GCMMF managing director Jayen Mehta.“We have reduced the prices of one-litre packs …

NEW DELHI: The government’s subsidy burden is expected to exceed budget estimates, swelling to almost Rs 4.1 to Rs 4.2 lakh crore for the financial year 2024-25 (FY25). A report by the Bank of Baroda revealed that the increase is primarily to higher expenses on food and fertiliser subsidies, which are likely to overburden the budgeted allocation.Initially, the government had …

The government has launched its promised independent review into the loan charge but has been met with criticism from campaigners who dismissed it as a “sham”. The loan charge was implemented to close a tax loophole and recover backdated taxes but has left many freelance workers facing large bills. In a statement on Thursday, Treasury Minister James Murray said the …

NEW DELHI: India’s large non-bank financial institutions (NBFIs) are better positioned to weather economic and regulatory challenges compared to their smaller counterparts, according to Fitch Ratings.While softer economic conditions, tighter bank funding, and asset quality concerns are expected to affect the sector’s credit growth and profitability in the near term, larger NBFIs with robust operations and diversified funding channels are …