Edible oils industry body SEA on Monday urged the Centre to increase import duty on RBD palmolein from the current 12.5 per cent to 20 per cent to discourage cheaper imports and protect domestic refiners. In a memorandum submitted to Union Food Secretary Sanjeev Chopra, Solvent Extractors' Association (SEA) President Ajay Jhunjhunwala said the import [...]
HDFC Capital, the real estate private equity arm of HDFC Group, on Monday achieved the initial close for second scheme of its third fund, raising USD 376 million. The latest fund raising is the third by HDFC Capital's affordable real estate fund (H-Care 3) and the primary investor in the H-Care schemes is a wholly-owned [...]
The government on Monday authorised Mobile and Electronic Devices Export Promotion Council (MEDEPC) to issue registration-cum-membership certificate, a key document for exporters, for certain products related to the sector including smartphone, smart watch, monitors and parts of mobile phones. According to the Foreign Trade Policy (FTP), a Registration-cum-Membership Certificate (RCMC) is required for exporters in [...]
Economists at the country's largest lender SBI on Monday dismissed the 'K-shaped recovery' critique, saying the pandemic was a 'leveler' which helped in reducing inequalities. They said government transfers to the poor alone are adding up to Rs 75,000 per household per annum. It can be noted that in the months following the outbreak of [...]
The Monetary Authority of Singapore on Monday said integration of India's Unified Payment Interface (UPI) and equivalent network in Singapore, known as PayNow, will begin anytime soon, which in turn will reduce the remittance cost by 10 per cent. There will be interoperability of the two digital payment networks, allowing seamless remittances between the two [...]
The government on Monday said the Bureau of Indian Standards (BIS) has come out with quality standards for three electronic devices -- digital television receivers, USB Type-C charger and Video Surveillance Systems(VSS). The first is Indian standard IS 18112:2022 specification for digital television receivers with built-in satellite tuners, the consumer affairs ministry said. "TVs manufactured [...]
Ahead of the Union Budget, Prime Minister Narendra Modi will meet economists and sectoral experts at NITI Aayog on Friday to discuss the state of the economy and measures to accelerate growth which is estimated to drop to 7 per cent, a senior government official said. The official further said that the meeting will also [...]
Informal women workers in Indian construction and real estate sector earn 30-40 per cent less than male workers, according to a report that highlights about gender inequality in this sector. Consulting firm Primus Partners and World Trade Center on Monday released a report 'Pink Collar Skilling: Unleashing the Women's Power in the Real Estate Sector' [...]
Collection efficiency ratio of private lender Bandhan Bank increased to 98 per cent at the end of December 2022 from 95 per cent at the end of the second quarter. An initial disclosure statement by the bank said that the ratio for micro-credit loans was 98 per cent at the end of December 2022, while [...]
Equity benchmarks ended over 1 per cent higher on Monday amid positive trends in global markets and buying in Reliance Industries and IT counters. The 30-share BSE Sensex zoomed 846.94 points or 1.41 per cent to settle at 60,747.31. During the day, it jumped 989.04 points or 1.65 per cent to 60,889.41. The broader NSE [...]
