US central bank poised to cut rates at Sept. 17-18 meeting Fed policymakers focused on cooling labor market Traders expect Fed’s first move to be 25-basis-point cut By Ann Saphir, Lindsay Dunsmuir and Michael S. Derby Sept 6 (Reuters) – Federal Reserve policymakers on Friday signaled they are ready to kick off a series of … Read more
In a bid to mitigate the alarming build-up of unsold passenger vehicle (PV) inventory, the Federation of Automobile Dealers Associations (Fada) is set to formally approach banks and non-banking financial companies (NBFCs) with requests to exercise caution when disbursing funds to dealers. This comes after the dealers’ body wrote twice to the Society of Indian … Read more
The Tata group’s unlisted financial services businesses have reported hefty profits for the year, with Tata Capital, the group’s financial services business, reporting a profit of Rs 2,492 crore on revenues of Rs 13,309 crore, as per Tata Sons’ annual report for the financial year ended March 2024. The two insurance joint ventures, Tata AIA … Read more
India’s Reliance Infrastructure is considering plans to manufacture electric cars and batteries, and has hired the former India head at China’s BYD Co to advise on its plans, two sources briefed on the matter told Reuters. The company, part of Anil Ambani’s Reliance Group, has hired external consultants to conduct a “cost feasibility” study for … Read more
India’s beauty and personal care market is expected to grow at a compounded annual growth rate of 10-11 per cent to reach $ 34 billion by 2028, Nykaa Beauty Trends Report said on Wednesday. The report estimates India’s beauty and personal care (BPC) market to be around $ 21 billion at present. According to the … Read more
Gujarat Gas has announced a significant scheme of arrangement. It involves reverse merger of Gujarat State Petroleum Corporation (GSPC, unlisted), GSPC Energy (GEL, unlisted), and Gujarat State Petronet (GSPL, listed) into Gujarat Gas (GGL, listed). Additionally, GGL’s gas transmission business will be carved out and listed separately as GSPL Transmission Limited (GTL) on the stock … Read more
AU Small Finance Bank (SFB) has applied to the RBI for voluntary transition from a SFB to a Universal Bank (UB). The eligibility criteria for a SFB to transition into a UB is – a satisfactory track record of performance for at least five years; listed on stock exchanges; minimum net worth of Rs 1,000 … Read more
SMFG India Credit Company Ltd is looking at a capital infusion of up to Rs 2,000 crore from its parent—Japanese financial services group SMFG—till 2026 to support future growth in India. The business plans factor in possible inclusion in the upper layer list of finance companies, requiring the listing of equity shares on bourses. Its … Read more