Union minister Jitendra Singh on Saturday said India’s bioeconomy jumped from $8 billion in 2014 to $100 billion and the country now targets $150 billion by 2025, Addressing a discussion meeting in New Delhi focused on fostering the Biomanufacturing Initiative of the Department of Biotechnology (DBT), the minister said “India’s bioeconomy was just about $8 … Read more
India has reiterated its willingness to play a ‘constructive role’ in supporting Sri Lanka’s efforts for recovery from the worst economic crisis, said India’s Deputy High Commissioner Vinod K Jacob while addressing the inauguration ceremony of the Construction, Power, and Energy Expo 2023 in Colombo on Friday. He said that recent developments in India-Sri Lanka … Read more
A bench presided over by Chief Justice D.Y. Chandrachud and comprising Justice P.S. Narasimha dismissed Spicejet’s plea seeking additional time to pay the ₹75 crore to Maran and Kal Airways, as directed by the apex court on 13 February. Besides, the bench said that a clear message should be sent to ensure the court’s orders … Read more
What is currency internationalization? Internationalization means using a currency for cross-border transactions, including for purchase of goods, services or financial assets by non-residents. An international currency can be used by private players to settle trade or by governments to intervene in currency markets and financing balance of payments. It can also be used as a … Read more
AI can pick private equity firms to back better than many investors, per an Oxford study. Researchers trained AI to read 400 prospectuses to predict the top-performing funds. However, lead researcher Ludovic Phalippou believes it should still only be used as a sounding board. Artificial intelligence can pick out top-performing private equity (PE) funds better than … Read more
Currently, such imports attract 5 per cent or 12 per cent IGST The GST Council is likely to clarify on the definition of multi utility vehicles (MUVs) and crossover utility vehicles (XUVs) for levy of 22 per cent compensation cess over and above the 28 per cent GST rate, sources said. The Council is expected … Read more
Background about the restructuring IDFC was granted in-principle approval by RBI to set up a bank in April 2014, leading to the creation of IDFC Bank Limited and IDFC Financial Holding Company Limited (IDFC FHCL). IDFC FHCL is the non operative holding company and in compliance with the RBI regulations, was mandated to hold the … Read more