Tag Archives: Business news

NEW DELHI: NHAI has pre-paid loans of Rs 56,000 crore during the current fiscal year and is looking to further reduce its debt burden by March. Around Rs 40,000 crore has come from budgetary allocation as the overall capex is lower this year due to award of fewer contracts and approval of lesser new projects, and fall in land acquisition.NHAI’s …

NEW DELHI: Electric vehicle (EV) industry has “unanimously” agreed they won’t need subsidies once existing subsidy regime ends. “All sections” of the EV industry conveyed this to commerce minister Piyush Goyal in a meeting on Friday. The minister also said India is looking forward to strengthening economic relationship with the US under Trump presidency – “with who we have worked …

MUMBAI: A post-festival moderation in growth, as indicated by various economic reports, could lead to lower-than-projected growth in the third quarter. While October saw a spike in economic activity, it tapered down in November as was first seen in indicators like payments.Current high-frequency indicators reflect a slowing of momentum, according to Kaushik Das, an economist with Deutsche Bank. “GST growth …

MUMBAI: FMCG giant Hindustan Unilever is closing in on talks to acquire D2C beauty brand Minimalist in a deal that could value the startup at about Rs 3,000 crore, sources aware of the discussions told TOI. “The talks are ongoing but they are at an advanced stage and should close soon,” a source said. The acquisition will allow HUL to …

MUMBAI: The country’s biggest lender as well as the largest private bank have started the new year with higher returns for some depositors.While SBI has introduced a new category of super senior citizens above 80 years – who will get 10 basis points more than senior citizens – HDFC Bank has revised returns on bulk deposits (Rs 5 crore and …

India is poised to achieve a remarkable milestone in its economic journey, with exports of goods and services projected to surpass $800 billion in the current fiscal year, said commerce minister Piyush Goyal on Friday. This anticipated figure not only marks a significant increase from the previous year’s total of $778 billion but also reflects the resilience of India’s export …

NEW DELHI: Rural poverty has declined significantly to 4.86 per cent in the fiscal ending March 2024 from 25.7 per cent in 2011-12 mainly driven by government support programmes, said a SBI research released on Friday. Urban poverty too is estimated at 4.09 per cent, down from 13.7 per cent in 2011-12. “The sharp decline in rural poverty ratio is …

UCO Bank has announced stronger annual growth for the quarter ending December 2024, with the lender’s total business rising by 12.18 per cent to Rs 4.88 lakh crore.Provisional figures submitted to the stock exchanges reveal a significant 16.20 per cent increase in total advances, which reached Rs 2.08 lakh crore. This growth was primarily driven by an impressive 18.83 per …

Netflix catches heat for AI use in upcoming series Popular streaming platform Netflix is facing criticism for the use of AI while promoting one of their upcoming shows.  After revealing the poster for a Korean series Chef & My Fridge or Please Take Care of My Refrigerator, fans quickly noticed the issue. It is far from the first time that …

NEW DELHI: India’s foreign exchange reserves declined by $4.112 billion to $640.279 billion for the week ending December 27,according to the Reserve Bank of India (RBI) on Friday.This follows a previous decline of $8.478 billion, bringing the total to $644.391 billion, in last week ending on December 20.Recent weeks have shown a consistent decrease in reserves, primarily due to revaluation …