The government is planning to come out with a comprehensive policy for mandatory adoption of Indian Standard Time (IST) nationwide, a senior consumer affairs ministry official said. The purpose is to ensure synchronization of all networks and computers to IST and adoption of IST by Telecom Service Providers, Internet Service Providers, power grids, banks, stock [...]
Six entities, including HSBC and Creditwatch, have been allowed to test their fintech products to prevent and mitigate financial fraud as part of the fourth cohort under the RBI's regulatory sandbox scheme. Regulatory sandbox refers to the live testing of new products or services in a controlled/test regulatory environment for which the regulators may permit [...]
Indian companies have overtaken American firms in gross leasing of office space for the first time, with almost a 50 per cent share in the total demand, according to CBRE India. In its report released on Thursday, CBRE said that the gross leasing of office space rose 40 per cent in 2022 to 56.6 million [...]
Equity benchmarks ended lower for the second straight session on Thursday, dragged down by banking and finance counters and continuous foreign fund outflows. The 30-share BSE Sensex ended 304.18 points or 0.50 per cent lower at 60,353.27 after it failed to hold on to initial gains. During the day, it fell 607.61 points or 1 [...]
Banks and financial institutions need to design products in sync with requirements of infra projects in view of the whopping Rs 111 lakh crore National Infrastructure Pipeline (NIP), Financial Services Secretary Vivek Joshi said on Thursday. Observing that the infrastructure sector has strong backward and forward linkages with the robust multiplier effect across the sectors, [...]
Continued pricing pressures in the US and European markets coupled with regulatory overhang and cost inflation will affect profit margins of major Indian pharmaceutical firms, ratings agency ICRA said on Thursday. The revenues for a sample set of 16 Indian pharmaceutical firms, including the likes of Wockhardt, Torrent Pharmaceuticals, Pfizer, Abbott India, Cipla, Lupin, Sun [...]
Godrej Properties on Thursday said it has sold 870 units for Rs 435 crore in its housing project at Ahmedabad, Gujarat. In a regulatory filing, Godrej Properties informed that it has sold over 1 million square feet of area at the launch of a new phase in its project 'Celeste', which is part of a township, [...]
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICRA said on Thursday. In a recent note on the primary base metal industry, ICRA said that the earnings of the industry would continue to remain under pressure in [...]
Prasanna Kumar Motupalli was on Thursday appointed as Chairman and Managing Director (CMD) of the state-run NLC India Ltd (NLCIL), a Personnel Ministry order said. The Appointments Committee of the Cabinet has approved Motupalli's appointment till the date of his superannuation that is June 30, 2026, it said. Motupalli, Executive Director of NTPC Ltd, is [...]
Corporate India is indicating cautious hiring in the March quarter of 2023 as concerns rise over possible recession and steady inflation, a survey said on Thursday. According to the ManpowerGroup Employment Outlook Survey, based on interviews with nearly 3,030 public and private employers, hiring intentions will decrease in the quarter both on year-on-year and quarter-on-quarter [...]
