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The government’s 5.36% stake sale in Rail Vikas Nigam Ltd (RVNL) on Thursday got an enthusiastic response from institutional investors, who subscribed to the issue 2.73 times by putting in bids of over ₹2,000 crore. In the two-day offer-for-sale (OFS), the government is selling 11.17 crore shares, representing a 5.36% stake at a floor price…
Image for representation only The story so far: On July 5, apex banking regulator Reserve Bank of India (RBI) floated a draft circular seeking comments from stakeholders about mandating that card issuers provide their customers with the choice of multiple card networks. It also proposes to restrain issuers from entering into exclusive agreements with card…
Read More “Explained | RBI’s proposal for interoperability of credit and debit cards” »
Image used for representative purpose only. | Photo Credit: REUTERS A currency note with a star (*) symbol is identical to any other legal banknote, the Reserve Bank said on Thursday allaying concerns on the validity of such notes. The symbol is inserted in the number panel of a banknote that is used as replacement…
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Union Finance Minister Nirmala Sitharaman. File | Photo Credit: PTI Finance Minister Nirmala Sitharaman on July 27 said the government will consider the Production Linked Incentive (PLI) scheme for Chemicals and Petrochemicals sector to make India a manufacturing hub for such products. In view of stringent pollution control regulations and rising labour cost, she said,…
Facebook parent Meta posts higher profit, revenue [File] | Photo Credit: AP Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump. The Menlo Park, California-based company earned $7.79 billion, or $2.98 per share, in the April-June period. That’s up…
Read More “Meta posts higher profit, revenue for Q2 as advertising rebounds” »
An apple orchard at Fagu village in Shimla. | Photo Credit: PTI The apple season has started in Himachal Pradesh. This year is especially significant as a new practice has come into force: the State’s key horticulture crop is being sold by weight instead of the established practice of being sold per box. While this…
India’s decisions on economic development, growth, and related planetary boundary challenges have become all the more significant as it was declared the most populous country in the world, overtaking China just a few months ago. Additionally, India’s capital city Delhi is en route to becoming the world’s most populous urban agglomeration overtaking Tokyo by 2028….
Minister of State for Finance Pankaj Choudhary. File The number of Hindu Undivided Families (HUFs) availing tax benefits under the Income Tax Act stood at almost 8.76 lakh in 2022-23, the lowest in at least five years. The impact on their tax treatment under a Uniform Civil Code (UCC) has not yet been examined, the…
Read More “No review of Uniform Civil Code impact on HUFs: Finance Ministry” »
The video gaming industry has said the term ‘online gaming’ is a broad and ambiguous term that is causing confusion among gamers, games publishers, international investors and media amid the GST row. Image used for representational purposes only. | Photo Credit: Special Arrangement As many as 45 video game companies in India on July 26,…
Read More “Video-gaming firms write to PMO seeking distinction from real-money gaming industry” »
India’s Tata Steel Ltd. expects lower steel prices in the July-September quarter in India and Europe, aided by a fall in the prices of coking coal, a key raw material, its chief executive and managing director said on July 25. “In India, the Q2 [July-September] realisation will be about 3,000-3,100 rupees per tonne [$36.65-$37.87] lower…