Image used for representation. Photo: V.V. Krishnan The rupee settled flat at 85.64 against the U.S. dollar in the first session of 2025 on Wednesday (January 1, 2025), as gains from positive domestic equities were offset by unabated foreign fund outflows. At the interbank foreign exchange, the rupee opened at 85.63 and touched an … Read more
Banks’ loan growth moderated for a fifth straight month in November, central bank data showed, as lenders continued to rein in unsecured and personal loans after the Reserve Bank of India’s crackdown on “exuberant” lending. Banks’ credit increased by 11.8% year-on-year last month, slower than the 16.5% rise in November 2023, excluding the impact of … Read more
Image used for representative purpose only | Photo Credit: Reuters Viacom18 Media, a leading media and entertainment company, has become a direct subsidiary of Reliance Industries following the conversion of over 24.61 crore compulsorily convertible preference shares (CCPS) into an equivalent number of equity shares. Earlier, Viacom18Media was a material subsidiary of Network18 Media & … Read more
The Centre on Wednesday (January 1, 2025) extended two crop insurance schemes — PMFBY and RWBCIS — for one more year till 2025-26 and also created a separate ₹824.77 crore fund for technology infusion in the implementation of flagship schemes. Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS) have … Read more
The logo of Mahindra and Mahindra. File | Photo Credit: Reuters Mahindra & Mahindra Ltd. on Wednesday (January 1, 2025) reported a 16% rise in overall auto sales at 69,768 units in December 2024. The company had posted an overall sales of 60,188 units in December 2023. Passenger vehicle sales stood at 41,424 units last … Read more
Sasan Power Ltd., a subsidiary of Reliance Power Ltd., said it has made a bullet payment of $150 million to IIFCL, U.K., fulfilling its debt obligation on December 31, 2024. “This repayment will bolster Sasan Power’s debt coverage metrics, improve liquidity, and enhance its credit rating,” Reliance Power said in a filing with exchanges. … Read more
Japanese car companies Maruti Suzuki India Ltd. (MSIL) and Toyota Kirloskar Motor (TKM), who are in a partnership, reported spectacular performance in December, registering sales growth of 30% and 29% respectively. Indian SUV maker Mahindra & Mahindra reported 16% year on year (YoY) growth in total sales during December while Tata Motors witnessed marginal sales … Read more
State-owned NMDC’s iron ore production rose more than 5% in December to 4.71 million tonne (MT) compared to the year earlier period while sales of the key raw material for steel by the company declined nearly 7% to 3.91 MT. NMDC had reported 4.48 MT output and 4.19 MT sales in December 2023. For the … Read more
Slowest net GST growth rate this year and the gross inflows hit three-month low; net GST growth in first three quarters at 8.6% as against budgeted 11% growth this year. File | Photo Credit: Getty Images India’s gross Goods and Services Tax (GST) receipts increased at the second-slowest pace in 43 months in December, while … Read more
The total value of ₹2000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of ₹2000 banknotes was announced, has declined to ₹6,691 crore at the close of business on December 31, 2024, as per updated data released by the Reserve Bank of India … Read more