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Finance Ministry sees GDP growth comfortably surpassing 6.5% in 2023-24
Business

Finance Ministry sees GDP growth comfortably surpassing 6.5% in 2023-24

New Delhi, Dec 29: The government expects the Indian economy's GDP growth rate in 2023-24 to "comfortably" exceed its forecast of 6.5 percent despite the risks to growth and stability outlook that mainly emanate from outside the country, according to the Finance Ministry's half-yearly economic...
Govt hikes interest on two small savings schemes
Business

Govt hikes interest on two small savings schemes

New Delhi, Dec 29: The government has increased interest rates on two small savings schemes for January-March 2024 by 10-20 basis points, making it the sixth consecutive quarterly hike since October-December 2022. The Finance Ministry notified on Friday that the rate of interest on the three-year...
RBI issues directions on Internal Ombudsman rules for banks, NBFCs
Business

RBI issues directions on Internal Ombudsman rules for banks, NBFCs

Mumbai, Dec 29: The Reserve Bank of India (RBI) on Friday released a master direction on the Internal Ombudsman norms for banks and big NBFCs to harmonise the instructions applicable to various regulated entities on the Internal Ombudsman (IO) mechanism. "These instructions are expected to...
Musk
Business

Musk's X can't avoid content moderation law: US judge

San Francisco, Dec 30: A judge in the US has ruled that Elon Musk-run X cannot avoid a California law that asks social media platforms to disclose their plans for moderating harmful content and misinformation. US District Judge William Shubb has denied X's request for a preliminary injunction of...
Snapdeal logs Rs 388 cr revenue in FY23, reduces losses by 45%
Business

Snapdeal logs Rs 388 cr revenue in FY23, reduces losses by 45%

New Delhi, Dec 30: E-commerce platform Snapdeal has registered Rs 388 crore in revenue in FY23, as it significantly reduced losses by 45 per cent to Rs 282 crore in the last financial year, as compared to Rs 510 crore in FY22. The company has claimed profitability in the third quarter of the...
Kotak Mahindra Bank shares plunge on GST woes
Business

Kotak Mahindra Bank shares plunge on GST woes

Mumbai, Dec 29: Shares of Kotak Mahindra Bank plunged on Friday, a day after an order by the GST authorities issued a demand order to the mid-sized bank to pay pay up Rs 57.2 lakh as tax dues. The GST authorities have disallowed the input tax credit (ITC) on certain expenses during FY18 and FY19...
India
Business

India's coal output rises 12.3% to 664.37 mn tonnes in FY 2023-24

New Delhi, Dec 28: The country's coal production has shot up to 664.37 million tonnes (MT) during the current financial year (April 2023 to December 25) which is robust 12.29 per cent increase over the corresponding figure of 591.64 MT for the same period of the previous year, according to data...
Tesla may set up EV plant in Gujarat, Musk likely to visit India next month
Business

Tesla may set up EV plant in Gujarat, Musk likely to visit India next month

New Delhi, Dec 28: Elon Musk’s Tesla may finally end its dry run in India and announce to set up an Electric Vehicle (EV) supply system manufacturing plant in Gujarat during the ‘Vibrant Gujarat Global Summit’ next month. The announcement is likely to be made in the presence of Tesla CEO and Prime...
Meesho reduces losses to Rs 1,675 cr in FY23, revenue up 77%
Business

Meesho reduces losses to Rs 1,675 cr in FY23, revenue up 77%

New Delhi, Dec 29: Homegrown social commerce platform Meesho has lowered its losses by 49 per cent to 1,675 crore in FY23 from Rs 3,251 crore in FY22. The company's revenue from operations surged 77 per cent to Rs 5,735 crore in FY23 from Rs 3,232 crore in FY22, according to reports. “Our...
Gas prices to fall in 2024; Americans likely to save $32bn on fuel: Experts
Business

Gas prices to fall in 2024; Americans likely to save $32bn on fuel: Experts

New York, Dec 28: Gas prices across the US are projected to fall in the new year in 2024 for the second successive year resulting in a net saving of about $32 billion on fuel costs for the Americans. Oil experts predict that US gas prices will average $3.38 a gallon in the key election year of...
DGCA mandates QR code on investigation reports for medical examination of licence holders
Business

DGCA mandates QR code on investigation reports for medical examination of...

New Delhi, Dec 27: The Directorate General of Civil Aviation (DGCA) has issued an order aimed at enhancing the integrity of investigation reports submitted for medical examination of licence holders. The order released on December 22, effective immediately, stated that any investigation report...
CCI clears Indusind International Holdings
Business

CCI clears Indusind International Holdings' acquisition of controlling stake in...

New Delhi, Dec 27: The Competition Commission of India (CCI) has approved acquisition of control/stake in Reliance Capital Ltd by IndusInd International Holdings Ltd, IIHL BFSI (India) Ltd, and Aasia Enterprises LLP. The proposed combination relates to the acquisition of control by acquiring...
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