The Reserve Bank on Wednesday projected retail inflation to ease to 5.3 per cent in next fiscal from 6.5 per cent this year on assumptions of lower imported inflation, even though core inflation remains sticky. The RBI's inflation outlook for current fiscal has improved from 6.8 per cent projected earlier, to 6.5 per cent, on [...]

Fintech firms LazyPay, IndiaBulls Home Loans and Kissht are among the list of blocked websites issued by the Ministry of Electronics and IT, according to sources. The government has blocked 232 apps operated by overseas entities, including Chinese, for being involved in betting, gambling and unauthorised loan service. As per the list, the Ministry of [...]

The Reserve Bank on Wednesday hiked key benchmark policy rate by 25 basis points to 6.5 per cent, citing sticky core inflation. This is the sixth time interest rate has been hiked by the Reserve Bank of India (RBI) since May last year, taking the total quantum of hike to 250 basis points. Announcing the [...]

The RBI on Tuesday projected India's economic growth to slow down to 6.4 per cent in FY24 from 7 per cent in the current fiscal, citing risks from geo-political tension and tightening global financial condition. Announcing the bi-monthly monetary policy, Reserve Bank of India Governor Shaktikanta Das said the RBI's internal survey says manufacturing, services [...]

Lauding the private sector contribution in defence manufacturing, Chief of Defence Staff (CDS) General Anil Chauhan on Tuesday said India has the potential to emerge as a superpower in making military equipment and has displayed wherewithal to develop big and complex platforms. Referring to the inauguration of Hindustan Aeronautics Ltd's new helicopter factory -- India's [...]

Electric passenger vehicles retail sales declined by 10.51 per cent sequentially to 3,346 units in January 2023 over 3,739 vehicles sold in December last year, according to automobiles body FADA. Tata Motors's electric PV sales were down 17 per cent at 2,426 vehicles in January as against 2,926 units delivered in December 2022. MG Motor [...]

The Directorate of Enforcement has attached proceeds of crime worth Rs 859.15 crore generated by accused persons/entities through illegal loan apps, Minister of State for Finance Bhagwat Karad said on Tuesday. Further, assets amounting to Rs 289.28 crore have been seized under the Foreign Exchange Management Act, 1999. In a written reply to a query [...]

The power ministry has asked the Punjab power utility PSPCL to start lifting 15-20 of its domestic coal requirement through rail-ship-rail mode, while highlighting that the transport of dry fuel would be cheaper than the import of coal. The ministry in a letter to Punjab State Power Corporation Ltd (PSPCL) stated that the transport of [...]

Benchmark equity indices Sensex and Nifty closed lower on Tuesday due to selling in FMCG, metal and auto shares amid rising concerns over interest rate hikes by central banks. The 30-share BSE barometer declined by 220.86 points or 0.37 per cent to close at 60,286.04 as 22 of its constituents ended in the red. The [...]

CNG, EVs and hybrid vehicles may grab up to 30 per cent share in total auto sales in next five years even as petrol cars are likely to dominate passenger vehicle volumes in medium-term, a report said on Tuesday. Demand for Electric Vehicles (EVs) has increased exponentially in the last two years with the government's [...]

India's non-fossil fuel-based power generation capacity was at 174.53 gigawatt (GW) at the end of December 31, 2022, Parliament was informed on Tuesday. The country's total power generation capacity, including 235.81 GW from the thermal base, was at 410 GW at the end of 2022, Minister for Power, New and Renewable Energy R K Singh [...]

Coal imports cannot be reduced to zero as several thermal power projects in India are designed to utilise the imported dry fuel for its high calorific value and blending it with domestic coal is also needed to maintain fuel stocks, Parliament was informed on Tuesday. "The power plants designed for utilizing high Gross Calorific Value [...]

More than 3,600 firms have been prosecuted for manufacturing, sale and illegal import of sub-standard pesticides in the last five years and 137 companies were convicted by courts after they were found to be guilty, the government said on Tuesday. "In last 5 years (2017-18 to 2021-22), Directorate of Plant Protection, Quarantine & Storage under [...]

S&P Global Ratings on Tuesday said core inflation in India has been declining sequentially, and an elevated 6.25 per cent policy rate limits the need for further rate hikes. The Reserve Bank has increased the short-term lending rate by 225 basis points since May last year to contain inflation, mostly driven by external factors, especially [...]

Banks will face margin pressure next fiscal as they increase the deposit rates to attract funds to support sustained high loan growth, and the same will fall by 10 basis points to 3.45 per cent, a global rating agency said on Monday. "We expect the domestic banking sector's average net interest margin to slightly contract [...]

Domestic equity market started on a positive note on Tuesday, with Sensex rising 109 points and Nifty trading with moderate gains amid positive cues from other Asian markets. Investors in Asia seemed to be more positive even as the US market declined on Monday after strong data on jobs last week renewed worries about Federal [...]

Tata Sons chairman N Chandrasekharan will head the Maharashtra state Economic Advisory Council (EAC) which also includes Karan Adani and Anant Ambani, a government resolution said on Monday. Karan Adani, the CEO of Adani Ports and SEZ Ltd, is the son of Gautam Adani, who is battling allegations of stock manipulation and fraud in Adani [...]

The enforcement directorate has attached Rs 936 crore proceeds of crime and arrested 5 five persons related to crypto currency fraud, Parliament was informed on Monday. Further, under the Foreign Exchange Management Act, 1999 (FEMA), assets amounting to Rs 289.28 crore have been seized and one show cause notice to cryptocurrency exchange Zanmai Labs Pvt [...]

Benchmark Sensex dropped 334 points on Monday due to intense selling pressure in metal and power stocks as FII outflows dampened investor sentiment. Besides, a sharp decline in the rupee against the US dollar also put pressure on domestic equities, traders said. After losing nearly 500 points, the 30-share BSE index recovered some lost ground [...]

Chief Economic Advisor V Anantha Nageswaran on Monday said the allocation for the Mahatma Gandhi National Rural Employment Scheme (MGNREGS) has been reduced in the Budget for 2023-24 as more funds have been allocated towards Pradhan Mantri Aawas Yojana and Jal Jeevan Mission, which are expected to provide jobs to the same set of workers [...]

Capital markets regulator Sebi has listed the basic dos and don'ts relating to green debt securities to address 'greenwashing' related risks. The generally accepted definition of 'greenwashing' is, 'making false, misleading, unsubstantiated, or otherwise incomplete claims about sustainability of a product, service, or business operation'. To address the concerns of market participants regarding greenwashing, Sebi [...]

Automobile retail sales in India rose 14 per cent in January, as compared to the same month last year, on the back of robust registrations across passenger vehicles, two-wheelers and tractors, dealers' body Federation of Automobile Dealers Associations said on Monday. Total sales across categories last month rose to 18,26,669 units, as compared to 16,08,505 [...]

Petrol doped with 20 per cent ethanol was rolled out on Monday at select petrol pumps in 11 states and union territories as part of a programme to increase use of biofuels to cut emissions as well as dependence on foreign exchange-draining imports. At present, 10 per cent ethanol is blended in petrol (10 per [...]

The government has blocked 232 apps operated by overseas entities, including Chinese for being involved in betting, gambling and unauthorised loan service, according to an official source. Ministry of Electronics and IT (MeitY) has issued orders to block these apps following instructions from Ministry of Home Affairs. "The order to block 138 apps that were [...]

The government has reduced import duty on a number of raw materials such as fish lipid oil, krill meal and algal prime used in the marine sector, to promote domestic production and exports from the segment. The duty on fish lipid oil and algal prime (flour), used in manufacture of aquatic feed, has been reduced [...]

Finance Minister Nirmala Sitharaman has said that regulators Sebi and RBI should always be on their toes to keep the equity market stable and indicated that the Adani stock rout following a Hindenburg report was a company specific issue. She said banks and insurance companies are "not overexposed" to any one company and assured that [...]

Maharashtra will set up four circular economy parks for major industries and an enabling policy for the same will be ready by March and implemented from April, a senior state government official has said. These circular economy parks will primarily focus on recycling scrap and other wastes.  The proposed parks will come up in Aurangabad, [...]

Major FMCG companies feel the demand slump has bottomed out and there are green shoots of recovery in the rural markets, which has been under stress since the last few quarters. With abating commodity price pressures, firms such as HUL, Godrej Consumer Products Ltd (GCPL), Dabur, Marico and Emami expect a gradual recovery in consumption [...]

Foreign investors pulled out Rs 28,852 crore from Indian equities in January, making it the worst outflow in the last seven months, primarily due to attractiveness of the Chinese markets. This came following a net investment of Rs 11,119 crore in December and Rs 36,238 crore in November, data with the depositories showed. Going ahead, FPI flows are [...]

Prime Minister Narendra Modi will on Monday launch petrol blended with 20 per cent ethanol, unveil a solar and conventional energy powered cooking system and inaugurate the India Energy Week in Bengaluru. The India Energy Week (IEW) 2023, being held from February 6 to 8, is aimed to showcase India's rising prowess as an energy [...]

India's crude steel production rose by 5.80 per cent to 124.45 million tonne (MT) in 2022, according to SteelMint. The country had produced 117.63 MT crude steel in 2021, the market research firm said. The production of finished steel was at 110.03 MT, up from over 104.54 MT a year ago, SteelMint said in its [...]

Equity benchmark Sensex declined more than 200 points in early trade on Monday, tracking losses in index-heavyweights Infosys, TCS and HUL amid a broadly negative trend in global markets. Besides, a weak rupee against major rivals dented the domestic equity market sentiments, traders said. The 30-share BSE index was trading 203.71 points or 0.33 per [...]

Sebi on Friday tweaked its operational circular on credit rating agencies (CRAs), asking them to have a detailed policy by March-end in respect of non-submission of crucial information, including quarterly financial numbers, by the issuers. Also, the detailed policy should contain methodology in respect of assessing the risk of non-availability of information from the issuers, [...]

Shares of four Adani Group firms, including Adani Enterprises and Adani Ports bounced back on Friday after facing heavy drubbing in the past 6 days. The stock of Adani Enterprises rebounded 1.25 per cent to settle at Rs 1,584.20 apiece on the BSE. During the day, it tumbled 35 per cent to Rs 1,017.10 -- [...]