Former prime minister Manmohan Singh passed away on December 26, 2024. Former prime minister Manmohan Singh, who passed away on December 26, has largely contributed to the expansion of the size of the Indian middle class. He was seen as the chief architect of India’s economic liberalisation during his tenure as the finance minister in the early … Read more
Leading cement producer UltraTech Cement on Friday (December 27, 2024) said it will acquire a minority stake of 8.69% from the promoters of Meghalaya-based Star Cement in a deal worth up to ₹851 crore. UltraTech Cement will by pick up stakes from Rajendra Chamaria and his family’s holdings, part of the promoter group, sources told … Read more
From the 30 Sensex pack, Mahindra & Mahindra, IndusInd Bank, Bajaj Finance, Tata Motors, Bajaj Finserv, Nestle and ICICI Bank were the biggest gainers. File | Photo Credit: Reuters Benchmark indices Sensex and Nifty ended higher on Friday (December 27, 2024) amid buying in bank and auto stocks. The 30-share BSE Sensex climbed 226.59 points … Read more
Sohinder Gill, CEO of Hero Electric India poses with the Dash and ER series electric two-wheelers, in Kolkata. | Photo Credit: PTI The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Hero Electric after admitting a plea filed by Metro Tyres, an operational creditor claiming a default of ₹1.85 crore. As … Read more
Photo used for illustration purpose only. | Photo Credit: Reuters The country’s forex reserves dropped by a further $8.478 billion to $644.391 billion for the week ended December 20, the RBI said on Friday (December 27, 2024). In the previous reporting week, the reserves had dropped by $1.988 billion to a six-month low of $652.869 … Read more
ICICI Prudential Life Insurance has announced the introduction of ‘ICICI Pru Wish’, a health product catering to women’ specific critical illnesses and surgeries. This product has been developed by the company in collaboration with Reinsurance Group of America, Incorporated (RGA), a global life and health reinsurer. “ICICI Pru Wish offers an instant payout of up … Read more
India’s current account deficit (CAD) for the July-September period or Q2 of 2024-25 moderated marginally to $11.2 billion or 1.2% of GDP from $11.3 billion or 1.3% of GDP a year ago, as per preliminary balance of payments (BoP) data released by the Reserve Bank of India (RBI) on Friday. While the merchandise trade deficit … Read more
Consumption inequality in rural as well as urban areas declined during August 2023-July 2024 period as compared to a year ago, according to the latest Household Consumption Expenditure Survey released on Friday (December 27, 2024). The Gini coefficient declined to 0.237 from 0.266 for rural areas and to 0.284 from 0.314 for urban areas during … Read more
India’s CAD moderated marginally to $11.2 billion or 1.2% of GDP year-on-year in the July-September quarter of 2024-25, according to Reserve Bank data released. File | Photo Credit: Reuters India’s current account deficit (CAD) moderated marginally to $11.2 billion or 1.2% of GDP year-on-year in the July-September quarter of 2024-25, according to Reserve Bank data … Read more
RBI said the relevant provisions have been amended. File | Photo Credit: Reuters The Reserve Bank of India (RBI) has decided to enable UPI payments from/to full-KYC Prepaid Payment Instruments (PPIs) through third-party UPI applications as per it’s previous announcement made in the Statement on Development and Regulatory Policies dated April 5, 2024. “This will enable PPI holders to … Read more