The Reserve Bank of India (RBI) Friday maintained policy interest rates and its monetary stance for the eighth straight review meeting amid concerns of a likely spike in food prices, but cracks in Monetary Policy Committee widened with two of the six panel members favouring easier money. It also raised the forecast of economic growth … Read more
Financial firm HSBC has cast serious doubt on the future of Indian edtech giant Byju’s, assigning zero value to Prosus’ nearly 10% stake in the company. This harsh assessment comes amidst Byju’s ongoing legal battles and deepening financial woes. Prosus is a Dutch-listed technology investment company. In a note to investors, HSBC highlighted multiple factors … Read more
A new central excise law will replace the existing eight-decade-old Central Excise Act, the finance ministry said on Tuesday while seeking public comments on a draft bill. After most of the goods have been subsumed into the Goods and Services Tax (GST), only crude oil, petrol, diesel, natural gas and jet fuel are covered under … Read more
India’s economy is estimated to have grown by 8.2% in 2023-24, led by a solid expansion in manufacturing and construction sectors, and a strong push from Jan-March quarter growth, beating expectations and laying a robust foundation for the new govt, which assumes office this month after the polls. The strong numbers will help govt push … Read more
Creditors have recovered ₹3.36 trillion owed by defaulting corporations under the Insolvency and Bankruptcy Code since 2016 when the bankruptcy reform was introduced, finance and corporate affairs minister Nirmala Sitharaman said on Thursday. The minister said in a social media post that the recovery, a significant improvement over the previous regime—the Board for Industrial and … Read more
As the final arguments in the hush money trial have been wrapped up and the jury members are soon expected to give their opinions to the Manhattan Court judge, a significant questions is looming large over the US, its judiciary, society and politics. Will Donald Trump be allowed to contest the 2024 US Presidential Election … Read more
Subway, the restaurant chain with the most locations in the US, has sold $3.35 billion of asset-backed bonds to help fund its buyout by Roark Capital Group, in what is the largest securitization of its kind on record. The sandwich maker priced the largest portion of its whole business securitization — where a company pledges … Read more
The Reserve Bank of India’s balance sheet size increased 11.08 per cent to Rs 70.48 lakh crore as of March 31, 2024, the central bank said in its annual report released Thursday. RBI’s balance sheet in FY23 stood at Rs 63.44 lakh crore. The central bank noted that its balance sheet has normalised to pre-pandemic … Read more
Jaguar Land Rover owned by India’s Tata Motors, is set to commence the production of its iconic Range Rover and Range Rover Sport models in India. This marks the first time in the 54-year history of these models that they will be manufactured outside of the UK. Previously, both models were exclusively produced at Jaguar … Read more