UPI hits over 3,700 transactions per second, up 58% yearly
New Delhi: The Unified Payments Interface (UPI) has become the world's most popular alternative payment method, handling 3,729.1 transactions per second in 2023, media reports said.
Finance
Govt set to approve mega defence projects worth Rs 1.3 lakh cr for Army, Navy
New Delhi: The government is set to approve several major defence projects, including the construction of seven advanced frigates for the Indian Navy and the Indian Army's plan to acquire 1,700 new tanks to replace its aging fleet of Russian-origin T-72 tanks, media reports said.
World Bank's latest report ups India's growth forecast for FY25 to 7 percent
The World Bank on Tuesday upgraded India's growth forecast for the FY24/25 to seven percent, giving a boost to the country's financial journey.
Didn't pay salary or granted ESOPs post-retirement to SEBI's Madhabi Puri Buch: ICICI Bank rebuts INC's allegation
Mumbai/IBNS: Hours after Indian National Congress (INC) spokesperson Pawan Khera alleged that Securities and Exchange Board of India (SEBI) chair Madhabi Puri Buch had received Rs 16.8 crore from ICICI Group between FY18 and FY24, private sector lender ICICI Bank on Monday (Sept 2) denied paying salary or granting stock options to its former employee Buch.
Tata Motors launches Curvv, check out the price
Auto major Tata Motors on Monday announced the launch of Tata Curvv – The SUV Coupe, at a starting introductory price of Rs. 9.99 lakh.
PMI survey shows India's manufacturing activity growth hits three-month low of 57.5 in August
New Delhi/IBNS: A monthly private-sector survey showed on Monday (Sept 2) that India's manufacturing activity growth eased to a three-month low in August 2024 as demand softened significantly, casting another shadow over the otherwise robust economic outlook.
Gujarat Gas shares skyrocket 14% after approving merger, demerger plan involving GSPC and GSPL
Ahmedabad/IBNS: Shares of Gujarat Gas Limited (GGL) on Monday (Sept 2) surged 13.6 percent to its new all-time high of Rs 689.45 on BSE after the natural gas distribution company announced the restructuring of its group entities, including Gujarat State Petroleum Corporation (GSPC), Gujarat State Petronet Limited (GSPL), and Gujarat Gas, following which the brokerages have upgraded the stock's target price up to Rs 715.
Alto K10, S-Presso get cheaper as Maruti Suzuki cuts prices of select variants of entry-level models
New Delhi/IBNS: Maruti Suzuki Alto-K10 and S-Presso are getting cheaper as India's largest carmaker on Monday (Sept 2) announced to slash prices of select variants of these two entry level models amid rising inventory concerns in the automobile industry and drop in sales.
Passenger vehicle sales decline in August for second straight month
New Delhi/IBNS: Sales of passenger vehicles in the local market dropped for the second straight month in August 2024, on a high base, and with car manufacturers cutting down dispatches to rationalise stocks at dealerships, reports said.
New MSME credit assessment model for PSBs likely to be launched in March 2025: Report
New Delhi/IBNS: The new micro, small and medium enterprise (MSME) credit assessment model, based on digital footprints for public sector banks (PSBS), is expected to be unveiled by the end of March next year (2025), Business Standard reported, citing sources in the know.
Sensex zooms past 82,600 during early trade
Sensex zoomed past 82,600 point mark on Monday during early trading hours.
Vande Bharat sleeper trains: Know all about advanced safety and comfort features
New Delhi: The model of the sleeper version of the highly awaited Vande Bharat train was unveiled today, media reports said.
NHPC Limited accorded with ‘Navratna’ company status
NHPC Limited has been accorded with the prestigious status of ‘Navratna’ company by the Government of India.
Quick commerce start-up Zepto raises $340 million at $5 billion valuation
Bengaluru/IBNS: Indian quick commerce start-up Zepto has raised $340 million in a follow-on financing round led by General Catalyst, with Dragon Fund and Epiq Capital joining as new investors.
Vistara to operate its farewell flight on November 11 before merging into Air India
New Delhi/IBNS: Vistara, a joint venture of Tata Sons Private Limited and Singapore Airlines Limited (SIA), has announced that it will operate in final flight on November 11, a day before officially merging into Air India.
FM Nirmala Sitharaman approves 'Navratna' status for four CPSEs
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman on Friday (August 30) approved the upgradation of four Central Public Sector Enterprises (CPSEs) to a Navratna status.
SEBI cancels registration of 39 stock brokers, 7 commodity brokers, 22 depository participants due to non-compliance
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI), the regulatory body for securities and commodity market in the country, on Friday (August 30) cancelled the registration of 68 market intermediaries, including 39 stock brokers, seven commodity brokers and 22 depository participants, due to non-complaints, reports said.
Moody's upgrades India's GDP forecast to 7.2% for 2024 and 6.6% for 2025
Mumbai: Moody's on Thursday raised India's economic growth forecast to 7.2% for 2024 and 6.6% for 2025, up from its previous estimates of 6.8% and 6.4%, respectively, citing robust and broad-based growth.
After CCI, NCLT Mumbai approves Reliance-Disney merger
Mumbai: Following approval from the chief national competition regulator, the Mumbai bench of the National Company Law Tribunal (NCLT) has cleared the mega merger between Reliance-promoted Viacom18 and Walt Disney-owned Star India, paving the way for the creation of the country’s largest media empire, valued at over Rs 70,000 crore, media reports said.
Bharat Petroleum in talks to secure Rs 32,000 cr loan for refinery expansion
Mumbai: Bharat Petroleum Corp. (BPCL) is in discussions with lenders to secure nearly Rs 32,000 crore ($3.8 billion), which could become the largest local-currency loan in India this year, Bloomberg reported.
Adani Ports acquires 80% stake in global OSV operator Astro Offshore for USD 185 million
Ahmedabad: Adani Ports and Special Economic Zone Ltd (APSEZ) is set to acquire an 80 percent stake in Astro, a global offshore service vehicle operator, in an all-cash deal for $185 million, implying an EV of $235 million and EV/FY25E EBITDA at 4.4x, said a company press release.
GDP growth slowed in first qtr of FY25 due to elections: CEA Nageswaran
New Delhi: India's GDP growth slowed in the first quarter of the current fiscal year due to the general elections and a reduction in government capital spending during that period, according to Chief Economic Advisor (CEA) V Anantha Nageswaran.
Indian GDP growth slows to 6.7 pct in April-June quarter
India's real Gross Domestic Product (GDP) growth moderated to 6.7 percent year-on-year during April-June quarter (Q1) of current financial year 2024-25 in contrary to 8.2% registered during the same quarter in the previous year, s per data released by the Indian government on Friday.
4.69 cr shares change hands for Rs 6,997 cr in HDFC Bank block deal
Mumbai: HDFC Bank's stock witnessed the exchange of around 4.69 crore shares in multiple block deals totalling Rs 6,997 crore, coinciding with the MSCI indices' August rebalancing, Moneycontrol reported.
Fintech industry garnered $31 bn investment, startups saw 500% growth in 10 yrs: PM Modi at Global Fintech Fest 2024
Mumbai: India’s fintech industry has garnered an investment of over $31 billion in the last 10 years and the startups in this space have recorded a growth of over 500 percent.
UK-based insurer Aviva found guilty in $26 million fake invoice scandal in India: Report
New Delhi/IBNS: The Income Tax (IT) department has found that British multinational insurance company Aviva breached local regulations in India, capping commissions to sales agents with a system of fake invoices and clandestine cash payments, Reuters reported, citing an IT notice to the company dated August 3.
Move over Beijing, Mumbai is the new capital of Asian billionaires: Hurun India Rich List 2024
India's financial lifeline Mumbai has beaten China's Beijing to become the billionaire capital of Asia, according to the Hurun India Rich List 2024.
Apple, Nvidia likely to invest in OpenAI's next huge potential funding round: Report
San Francisco/IBNS: American artificial intelligence (AI) start-up OpenAI is gearing up for a significant funding round that could value it at over $100 billion, and two of the biggest US-headquartered global tech companies are in talks to join this investment funding round, reports said.
Singapore Airlines gets India's FDI clearance for Air India-Vistara merger
New Delhi/IBNS: Singapore Airlines (SIA), the flag carrier of Singapore, on Friday (August 30) said it has received approval from the Government of India for foreign direct investment (FDI), as part of a merger in which Vistara, its 49 percent-owned joint venture with Tata, will be absorbed into Air India, reports said.
Gautam Adani replaces Mukesh Ambani to become India's richest person: Hurun India Rich List
New Delhi: Gautam Adani and his family have claimed the top position in the 2024 Hurun India Rich List, with a Rs 11.6 lakh crore fortune, overtaking Mukesh Ambani.