At the Reliance Industries Ltd (RIL) annual general meeting in August, Chairman Mukesh Ambani said his three children — daughter Isha and sons Akash and Anant — would be inducted on the board as non-executive directors, while he would continue as chairman and managing director for another five years. Now, Ambani’s youngest son, Anant, is … Read more
In a move to simplify and streamline bank account transfers, the National Payments Corporation of India (NPCI) is set to facilitate hassle-free fund transfers of up to Rs 5 lakh without the need to add a beneficiary, states an ET report. The revised Immediate Payment Service (IMPS) will soon allow users to make secure and … Read more
UK regulators have approved Microsoft’s revised bid for the acquisition of Activision Blizzard, after initially blocking the deal. The revised agreement will see Microsoft cede distribution rights for Activision’s games to Ubisoft, while still retaining control over popular titles like ‘Call of Duty’. After two-year-long effort to secure the gaming industry’s most substantial takeover, the … Read more
The increasing adoption of electric vehicles, the rising number of smartphones, laptops, and other consumer electronics, and the growing need for eco-friendly energy storage solutions have been driving the Lithium-ion (Li-ion) battery market in India. Estimated at $2.5 billion in 2023, it is expected to cross $5 billion in the next five years. The increasing … Read more
The Indian economy is on a roll amid global turbulence, the Reserve Bank of India (RBI) said, retaining the growth forecast at 6.5% and inflation projection at 5.4% for the fiscal year. “In contrast with global trends, domestic economic activity exhibits resilience on the back of strong domestic demand,” RBI governor Shaktikanta Das asserted while … Read more
The RBI is concerned about the strong growth in some personal loans and is watching out for any stress in that segment, asking banks, NBFCs and fintechs to strengthen their surveillance mechanisms. “Certain components of personal loans are recording very high growth… These are being closely monitored by RBI for any signs of incipient stress,” … Read more
Domestic market leader IndiGo will levy a distance-based “fuel charge” ranging from Rs 300 to Rs 1,000 on all its flights due to increase in aviation turbine fuel (ATF) prices. This comes into effect from today. While comments were sought from other airlines, SpiceJet said it will levy a fuel charge without giving details. Other … Read more
China’s factory activity expanded for the first time in six months in September, an official survey showed on Saturday. file photo for representation China’s factory activity expanded for the first time in six months in September, an official survey showed on Saturday, adding to a run of indicators suggesting the world’s second-largest economy has begun … Read more
Goods and services tax (GST) collections rose 10.2% to Rs 1,62,712 crore in September, driven by a 14% growth in domestic transactions. The finance ministry as well as tax experts expect the collections to get a boost during October and November as the festival season kicks in. Besides, tighter regulation and the inclusion of online … Read more