Temporary food shocks, fiscal consolidation and high real interest rates have created the scope for reduction in policy interest rates, said external members of the Monetary Policy Committee, but those from the Reserve Bank of India (RBI) believe that the markets are running ahead of policy makers. Prof. J.R. Varma, who voted for a reduction … Read more
New Delhi: The Directorate of Enforcement (ED) has asked the Bureau of Immigration (BOI) to issue a look out circular (LOC) against Byju Raveendran, founder and CEO of the eponymous, embattled edtech company Byju’s, people with knowledge of the matter told ET. The central agency approached BOI earlier this month to issue a fresh LOC … Read more
In a move that will help Food Corporation of India (FCI) to reduce its borrowings from banks and save around Rs 750 crore annually, govt on Friday increased authorised capital of the corporation from Rs 10,000 crore to Rs 21,000 crore. This move will also reduce the overall food subsidy. FCI is responsible for procurement … Read more
India’s exports rose to a three-month high of 3.12 per cent to USD 36.92 billion in January despite global uncertainties including the Red Sea crisis, while the trade deficit narrowed to a nine-month low of USD 17.49 billion, the government data released on Thursday showed. After recording negative growth for two months in a row, … Read more
Axis Bank, which claims leadership in the merchant acquiring space, is in talks with Paytm regarding partnerships across business lines. The bank, which has partnered with Paytm earlier, is now discussing newer areas for collaboration following RBI’s action against Paytm Payments Bank in Jan. Axis Bank MD & CEO Amitabh Chaudhry told reporters that any … Read more
Robust growth in corporate and personal income tax receipts will lift the share of income taxes in central government revenues to a 15-year high in FY25, revenue secretary Sanjay Malhotra said. What coincided with FY24’s strong growth in income taxes is the sluggishness in customs and excise duty receipts. It is expected to improve only … Read more
Paytm’s parent One 97 Communications Ltd on Friday said it has formed an advisory committee chaired by M. Damodaran, former chairman of the Securities and Exchange Board of India (Sebi). The committee will work with the One97 board on strengthening compliance and regulatory matters. The committee will also include M.M. Chitale, former president of the … Read more
Union finance minister Nirmala Sitharaman on Thursday tabled the white paper on the Indian economy in the Lok Sabha. The discussion on the 54-page document will take place on Friday. In her Interim Budget speech, the finance minister had announced that the Centre will come out with a white paper on the economy outlining the … Read more
The Rs 4,783-crore revival package of bankrupt Jet Airways offered by the Jalan-Kalrock consortium appeared headed for a dead-end as Supreme Court on Friday refused to extend the Jan 31 deadline for the successful bidder to deposit Rs 150 crore. Appearing for Jalan-Kalrock, senior advocate Maninder Singh tried to convince a bench of Chief Justice … Read more