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Representational image | Photo Credit: Reuters Jewellery maker Titan on Saturday announced increasing stake in its subsidiary and new-age jewellery brand CaratLane to 98.28% by acquiring an additional 27.18% share for ₹4,621 crore. The Tata group-managed firm has entered into a share purchase agreement with CaratLane founders — Mithun Sacheti and Srinivasa Gopalan — and…
Image for representation | Photo Credit: NAGARA GOPAL The story so far: On August 17, the Reserve Bank of India (RBI) commenced a pilot programme endeavouring to evaluate the feasibility of the ‘Public Tech Platform for Frictionless Credit’. The announcement was first made when the central banking regulator enumerated developmental and regulatory policies following the conclusion…
Watch | Is India’s ‘Make-at-home’ good industrial policy? The government of India introduced restrictions on the import of laptops and tablets. The restriction is that only on prior grant of licence can any import take place. This was with immediate effect. With some intense pushback from the industry, the effective date has been deferred to…
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Pedestrians and shoppers walk past a branch of fashion retailer H&M. The brand is investigating cases of labour abuse at its factories in Myanmar | Photo Credit: Reuters H&M is following up on 20 alleged instances of labour abuse at Myanmar garment factories that supply the world’s second-largest fashion retailer, just weeks after top rival…
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A scene at wholesale vegetable market Azadpur Mandi, in New Delhi. File | Photo Credit: Sushil Kumar Verma Retail inflation resurged in July to hit 7.44% from 4.87% in June, with consumers facing a sharp 11.5% spike in food prices. This is the highest pace of retail inflation since April 2022 and the first time…
Image used for representational purpose only. | Photo Credit: Reuters The wholesale price based inflation remained in the negative territory for the fourth straight month in July at (-)1.36% on easing prices of fuel, even though food articles turned costlier. The wholesale price index (WPI) based inflation rate has been in the negative since April…
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The Monetary Policy Committee has unanimously decided to keep the policy repo rate unchanged, RBI Governor Shaktikanta Das said in Mumbai on August 10, 2023. | Photo Credit: Emmanual Yogini The Monetary Policy Committee (MPC) of the Reserve Bank of India on August 10 decided unanimously to keep the policy repo rate unchanged at 6.50%. Consequently,…
File. | Photo Credit: Paul Noronha Benchmark equity indices fell on August 8 as investors turned cautious ahead of the key events — RBI’s monetary policy and the U.S. inflation data — due to be announced later this week. Continuous foreign fund outflows and weak trend in Asian and European markets also played spoilsport for…
File. | Photo Credit: V. RAJU Individuals reporting annual total income of over ₹1 crore have doubled to 1.69 lakh in the two-year period ending March 2022, the income tax department data showed. As per the tax return data filed in assessment year (AY) 2022-23, relating to income earned in fiscal 2021-22, 1,69,890 individuals have…
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Reliance Industries Ltd, India’s most valuable company, has sought shareholder’s approval to give Mukesh Ambani another five-year term as chairman and managing director of the company till 2029 — a period during which he has opted to draw nil salary. Mr. Ambani, 66, will cross the company law-mandated 70 years age for the chief executive…