Category: Business

Business

Indian rupee hits record low as appointment of new RBI chief spurs dovish bets

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The RBI likely stepped in to support the rupee, with traders pointing to dollar sales by state-run banks. Representational image | Photo Credit: Reuters The Indian rupee weakened to a record low on Tuesday (December 10, 2024), pressured by heightened expectations of domestic rate cuts next year after the government named career civil servant Sanjay…

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Flipkart, DPIIT sign MoU to accelerate growth of startup ecosystem

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Photo used for representation purpose only. Flipkart, India’s homegrown e-commerce platform, has signed an MoU with the Department for Promotion of Industry and Internal Trade (DPIIT) to support and empower tech start-ups in India. Aimed at encouraging the growth of innovators and entrepreneurs, the partnership would build on existing efforts under the Flipkart Leap and…

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Sanjay Malhotra is the new RBI Governor for a three-year term

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Revenue Secretary Sanjay Malhotra has been appointed as the new RBI Governor replacing Shaktikanta Das whose tenure ends on December 10, 2024. File | Photo Credit: PTI The Appointments Committee of the Cabinet, on Monday (December 9, 2024), has appointed Sanjay Malhotra as the new Reserve Bank of India (RBI) Governor for a period of…

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Air India confirms placing order to purchase 100 more Airbus aircraft

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The latest order takes the total number of aircraft that Air India has ordered with Airbus over the past two years to 350. File | Photo Credit: Reuters Air India on Monday (December 9, 2024) confirmed that it placed an order to purchase 100 more Airbus aircraft, which include 10 widebody A350 and 90 narrowbody…

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Adani Group to invest ₹7.5 lakh crore in Rajasthan across sectors

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Image of Adani Group building. File | Photo Credit: Vijay Soneji ”The Adani Group is planning to invest ₹7.5 lakh crore across sectors in Rajasthan,” a senior company official said on Monday (December 9, 2024). While speaking at the Rising Rajasthan Summit Adani Ports and Special Economical Zone (SEZ), managing director Karan Adani said, “50%…

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Markets settle lower amid selling in blue-chip stocks

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Image for representative purposes only | Photo Credit: Reuters Equity benchmark indices Sensex and Nifty ended lower on Monday (December 9, 2024), dragged down by selling in blue-chip stocks Reliance Industries, Hindustan Unilever, Axis Bank and mixed global trend. After oscillating between highs and lows during the day, the 30-share BSE benchmark Sensex declined 200.66…

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Rupee drops 8 paise to close at 84.74 against U.S. dollar

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Forex traders said post the RBI monetary policy announcement, investors will await the Industrial Production (IIP) and CPI data for further cues. File | Photo Credit: The Hindu The rupee depreciated 8 paise to close at 84.74 (provisional) against the U.S. dollar on Monday (December 9, 2024), dragged down by fresh foreign fund outflows and…

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War on spam: Airtel’s network flags 8 billion spam calls in 2.5 months; identifies 1 million spammers daily

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In the last 2.5 months, the company has alerted close to 252 million unique customers to these suspicious calls. File | Photo Credit: Reuters Telecom operator Bharti Airtel on Monday (December 9, 2024) said its network has flagged a staggering 8 billion spam calls and called out 0.8 billion spam SMSes (text messages) within two-and-a-half…

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