Finance minister Niramala Sitharaman is scheduled to meet managing directors of public sector banks (PSBs) on March 25 for performance review in the backdrop of failure of few banks in the US and liquidity crisis faced by Credit Suisse. The meeting is going to take stock of the progress made by banks in achieving targets [...]
The government on Wednesday said the export of biofuel from special economic zones and export oriented units are allowed for fuel as well as non-fuel purposes without any restriction, if the biofuel is produced by using imported feed stock. On August 28, 2018, the government had imposed restrictions on export of biofuels within days of [...]
Mobile phone exports from India increased to nearly USD 9.5 billion in February, with Apple contributing half of the total exports, mobile devices industry body ICEA said on Wednesday. An official at the India Cellular and Electronics Association (ICEA) said the industry is on track to cross the target of mobile phone exports worth USD [...]
India now has over 127 global patents for 6G technology, Union Minister for Communications Ashwini Vaishnaw said on Wednesday. He reiterated Prime Minister Narendra Modi's remark that India has the power of trust and scale, which is leading to the demand for indigenous telecom gears overseas. Vaishnaw said the Prime Minister has given his ministry [...]
Equity benchmarks declined in initial trade on Thursday after a two-day rally, in line with a weak trend in global markets. Also, a weak trend in index major Reliance Industries and IT counters added to the pressure. The 30-share BSE Sensex fell 341 points to 57,873.59 after a weak beginning. The broader NSE Nifty declined [...]
Icra on Wednesday revised its outlook for domestic steel demand to 7-8 per cent for the next fiscal. Earlier, the ratings agency had estimated the demand to grow in the range of 6-7 per cent. "With the central government's capex outlay in FY2024, Icra has revised upwards its steel consumption growth estimate for FY2024 to [...]
Gautam Adani's fortunes have suffered a severe setback on concerns over corporate governance and accounting fraud, leading to Reliance Industries' Mukesh Ambani replacing the Ahmedabad-based industrialist as the richest Indian. Adani lost Rs 3,000 crore of wealth every week over the last year and his overall networth is down 60 per cent from its peak, [...]
Sizeable equity commitments in under-construction projects and rising working capital needs will increase the debt burden of road developers but revenue growth is set to remain high, driven by strong contract awards and execution in the next fiscal, according to a report. Besides, a high budgetary allocation to the sector will also help road developers, [...]
For getting tubewell connection, preference will be given to the farmers adopting micro-irrigation techniques, Haryana Chief Minister Manohar Lal Khattar said on Wednesday. He said that to ensure optimum utilisation of available water, the government has decided to give preference to farmers adopting micro-irrigation while issuing tubewell connections. He, however, said that it is not [...]
Prime Minister Narendra Modi on Wednesday unveiled the 6G vision document of the country and said initiatives around 6G within six months of the 5G rollout show India's confidence. He said from being a mere consumer of telecom technology, India is now moving fast to become a big exporter of that technology. "Within six months [...]
