Finance - general
The Indian rupee strengthened by 11 paise to 83.29 against the US dollar
01 Dec 2023
In the early hours of Friday 1 December, 2023, trading session, the Indian rupee showcased resilience, appreciating by 11 paise to reach 83.29 against the US dollar.
Berkshire Hathaway Vice Chairman Charlie Munger passes away at age 99
29 Nov 2023
Charles Thomas Munger, the oracle of Pasadena and one of the most important figures in Berkshire Hathaway, passed away on Tuesday, 28 November 2023, at the age of 99.
Tech giant Apple set to break ties with Goldman Sachs for credit card business
29 Nov 2023
Apple has decided to terminate its credit card partnership with banking giant Goldman Sachs. Apple had sent a proposal to the Wall Street Bank to end the contract in the next 12 to 15 months.
RBI Governor Das: Increased risk weight is a precautionary approach to ensuring sustainable lending
23 Nov 2023
Reserve Bank of India (RBI) Governor Shaktikanta Das said that the recent instruction to increase risk weights for unsecured consumer loans by banks and non-banking financial companies (NBFC) is a cautious measure taken to ensure sustainable lending.
IndiGo's parent company, InterGlobe Aviation, set to contest tax claims exceeding Rs 1,666 crore
23 Nov 2023
IndiGo’s parent company, InterGlobe Aviation, stated on Wednesday, November 22, 2023, that they would challenge tax demands worth over Rs 1,666 crore.
Government explores legality of transferring unclaimed Sahara-Sebi funds to Consolidated Fund of India
20 Nov 2023
In the wake of Sahara Group founder Subrata Roy's recent demise, the Indian government is reportedly examining the legality of transferring the unclaimed funds from the Sahara-Sebi Refund Account to the Consolidated Fund of India.
Australian trading bourse and TCS to partner up to create trading software
20 Nov 2023
ASX Ltd., an Australian bourse operator, has partnered with Tata Consultancy Services (TCS) to create a product-based solution to replace its trading, clearing, and settlement systems.
RBI clears Hinduja Group acquisition of Reliance Capital
19 Nov 2023
Reserve Bank of India (RBI) on Friday approved a Rs9,650 crore debt resolution plan submitted by IndusInd International Holdings Ltd (IIHL), allowing the Hinduja Group firm to take over the assets of Reliance Capital.
Fedbank Financial Services IPO to open on 22 November
17 Nov 2023
Fedbank Financial Services Ltd, a non-banking financial company promoted by Federal Bank Ltd, has come out with an initial public offer (IPO), which will open for subscription on 22 November
IREDA looks to raise Rs2,150 through IPO priced at Rs30-32 a share
15 Nov 2023
State-run Indian Renewable Energy Development Agency’s (IREDA) Rs2,150-crore initial public offer (IPO) will open for subscription on Tuesday.
Sahara Group founder Subrata Roy passes away
15 Nov 2023
Subrata Roy, founder of the Sahara Group, an all-inclusive business empire that spanned sectors, including finance, real estate, aviation, media, health and hospitality, passed away on Tuesday.
RBI stops Bajaj Finance from digital lending
15 Nov 2023
The Reserve Bank of India (RBI) has directed Bajaj Finance Ltd to stop sanction and disbursal of loans under its two lending products ‘eCOM’ and ‘Insta EMI Card’, with immediate effect.
Byju's faces a $1.2 billion loan default fallout as lenders assume control of key units
10 Nov 2023
In a significant development for Byju's, once considered one of India's premier tech startups, lenders have formally declared a default on a $1.2 billion loan as they take control of a vital unit of the education technology provider
Adani Green Energy initiates negotiations with international financial institutions for a $1.8 billion loan
03 Nov 2023
Adani Green Energy, the renowned renewable energy company owned by industrialist Gautam Adani, is reportedly in advanced discussions with a consortium of international lenders to secure a potential loan of up to $1.8 billion.
WeWork faces imminent bankruptcy filing amid mounting debt woes
01 Nov 2023
Troubled flexible workspace provider WeWork is on the brink of filing for bankruptcy as early as next week. The SoftBank Group-backed company, grappling with a staggering debt load
Study reveals global billionaire tax could generate $250 billion annually
23 Oct 2023
The EU Tax Observatory suggested on Monday, 23 October, 2023, that governments should introduce a global minimum tax on billionaires
Direct tax collection on track to exceed budget target, says CBDT chairman
11 Oct 2023
Central Board of Direct Taxes (CBDT) chairman Nitin Gupta, during a recent address, expressed his strong confidence that the current fiscal's direct tax collection
RBI’s digital currency has 1.5 million users, 300,000 merchants, says governor
10 Sep 2023
Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday said the central bank digital currency (CBDC) now has around 1.5 million users and that over 300,000 merchants
Persons with income up to Rs7 lakh will not have to pay INCOME tax; exemption limit raised to Rs3 lakh
01 Feb 2023
The Rise and Rise of HDFC Bank
03 Jul 2023
HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp
India’s Millet Revolution To Enrich Global Food Basket
02 Apr 2023
Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
Market predator Hindenburg preys on Adani stock
06 Mar 2023
Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation