Economy news - NewsLocker

PNB plans to step up service, boost retail & farm lending

30-03-2025 21:51 via timesofindia.indiatimes.com

Punjab National Bank's new MD and CEO, Ashok Chandra, aims to enhance customer service, retail, agriculture, and MSME lending. He plans to introduce a QR code-based feedback system for customer-facing staff and focuses on improving deposit flows by engaging top companies and being selective with corporate loans.

Yes Bank gets Rs 2.2k crore notice from tax authorities

30-03-2025 21:48 via timesofindia.indiatimes.com

Yes Bank disclosed that it has received a demand notice for Rs 2,209 crore from the income tax department for the 2019-20 assessment year. Although the reassessment confirmed the original income assessment without additional changes, an unexpected demand including interest has been raised against the bank.

Government looks at 360-degree incentives for key sectors

30-03-2025 21:39 via timesofindia.indiatimes.com

The Indian government is revising its Production-Linked Incentive (PLI) scheme to include broader support for new sectors such as footwear, toys, and textiles. The new approach will address inputs, skilling, and other aspects comprehensively, learning from earlier implementations that faced challenges with dependence on component imports.

NPA sale to ARCs: Rs 20k crore year-end bonanza for banks

30-03-2025 21:33 via timesofindia.indiatimes.com

India's public sector banks are expected to see a significant profit boost due to a new RBI directive. This allows banks to book profits on security receipts from bad loans sold to NARCL, potentially adding Rs 20,000 crore to their earnings. The change increases liquidity and acknowledges the value of government-backed SRs.

In fresh Rs 37k crore lifeline to Vi, government converts dues into equity

30-03-2025 21:18 via timesofindia.indiatimes.com

The government has decided to convert Rs 36,950 crore of Vodafone Idea's spectrum dues into equity, making it the largest shareholder with almost 49% stake. Promoters' holding will fall to 26%, while the move aims to free cash flow for the company to invest in 5G rollout and improve services.

BSE Announces 2:1 Bonus Issue: Shareholders To Get Two Free Shares Per One Held

30-03-2025 17:30 via zeenews.india.com

The record date for BSE’s latest bonus share issue is yet to be announced. Only investors who hold BSE shares before the ex-date will be eligible for the bonus shares.

India’s Aluminium Production Rises Slightly To 38.36 LT In FY24-25

30-03-2025 17:04 via zeenews.india.com

Last year, aluminium production stood at 38.00 lakh tonnes, according to government data.

Stock markets outlook: Investor to track reciprocal tariffs, global trends and FII activity in holiday-shortened week

30-03-2025 16:23 via timesofindia.indiatimes.com

Analysts predict that reciprocal tariffs starting April 2 may impact equity markets, along with overseas market trends and FII activity. Investors will also focus on global developments, PMI data, rupee-dollar trends, and Brent crude prices. Given recent modest FII buying and quarterly earnings reports, potential tariffs could play a vital role in market movements.

Bank Holidays Alert! THESE Are The Days Banks Will Be Closed In April 2025— Check Full List

30-03-2025 16:21 via zeenews.india.com

Banks will be closed on April 1 for year-end account closing, meaning customers won’t be able to access banking services on that day.

Trump’s 'Liberation Day' for tariffs: What it means for businesses and economy

30-03-2025 14:56 via timesofindia.indiatimes.com

President Trump has announced new tariffs on imported goods, dubbing it “Liberation Day.” The tariffs target countries including the EU, South Korea, Brazil, and India to spur domestic investment. However, experts warn of higher consumer costs, potential job losses, and strained international relations. Critics remain skeptical of the economic impact.

Halidram's inks strategic investment pact with Singapore-based Temasek

30-03-2025 13:57 via timesofindia.indiatimes.com

Haldiram, India's largest packed snacks company, has partnered with Singapore-based investment firm Temasek, which will acquire a 10% equity stake at a USD 10 billion valuation. This deal aims to expand Haldiram's global reach, with PwC advising on the transaction. The partnership will help Haldiram enhance its position in the competitive global snacks market.

NSE Changes Lot Size For Nifty Bank And Nifty Mid Select Derivatives Contracts

30-03-2025 13:23 via zeenews.india.com

However, there have been no changes to the lot size of derivatives contracts for other indices.

Adani and Birla set to clash in wires & cables sector after cement rivalry

30-03-2025 13:12 via timesofindia.indiatimes.com

Adani Group and Aditya Birla Group are set to enter the high-growth wires and cables sector, challenging an industry dominated by smaller, unorganized players. This move is expected to disrupt the market significantly. Both conglomerates have invested heavily, with Adani forming a joint venture and Aditya Birla announcing a major investment and plans for a new plant.

IndiGo Faces Rs 944 Crore Tax Penalty, Calls It 'Erroneous'

30-03-2025 13:01 via zeenews.india.com

The airline recently reported an 18.6 per cent decline in its consolidated net profit for the third quarter of FY25, with earnings falling to Rs 2,448.8 crore from Rs 2,998.1 crore a year ago.

India's BankTech sector expected to attract USD 1 billion investment by 2027: Cedar-IBSi Capital

30-03-2025 11:56 via timesofindia.indiatimes.com

Venture capital fund Cedar-IBSi Capital forecasts USD 1 billion investment in India's BankTech sector by 2027, highlighting its role in achieving a USD 7 trillion GDP target by 2030. Founder Sahil Anand underscores digital transformation in banking, emphasizing technology's impact on financial inclusion. The fund plans to back 10–15 early-stage startups within this transformative sector.

Foreign Investors Pump Rs 31,000 Crore Into Indian Stocks As Market Rebounds

30-03-2025 11:40 via zeenews.india.com

The return of foreign portfolio investors (FPIs) as buyers has helped the stock market recover significantly.

India's copper demand set to surge 7% driven by clean energy boom and infrastructure projects

30-03-2025 11:35 via timesofindia.indiatimes.com

India's copper demand is set to grow by 7% due to renewable energy and infrastructure projects. With a gap between domestic production and consumption, the country imports 500,000 tonnes annually. Major companies are investing in copper production. The closure of Vedanta's Sterlite plant significantly impacted supply, turning India into a net importer.

PC Jeweller reduces debt by 56% in FY25, aiming to become debt-free by March FY26: MD Balram Garg

30-03-2025 11:11 via timesofindia.indiatimes.com

PC Jeweller Ltd has significantly reduced its bank loans to approximately Rs 1,800 crore in the current fiscal year, aiming to become debt-free by March next year. The company saw a strong sales rebound and is planning to raise over Rs 1,500 crore through a preferential issue of warrants in the next fiscal year.

Combined Market Valuation Of Top 8 Firms Rises By Rs 88,000 Crore; HDFC Bank Leads Gains

30-03-2025 08:52 via zeenews.india.com

Despite the fluctuations, the most valued firms include HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, and more. Meanwhile, both the domestic benchmark indices recorded gains for the full financial year (FY25).

Market Outlook: US Tariff, PMI, FIIs And Global Economic Data Key Triggers For Next Week

30-03-2025 08:19 via zeenews.india.com

Foreign investors continued their buying spree last week as well. Between March 24 and 28, foreign institutional investors (FIIs) invested Rs 17,426 crore.

Post Office Savings Schemes: Govt Announces Interest Rates For PPF And Sukanya Samriddhi Yojana For April-June 2025- Details Here

30-03-2025 07:33 via zeenews.india.com

Small Savings Schemes Interest Rates: The last revision in interest rates for post office savings schemes was made during the January-March quarter of FY 2023-24.

India Aims Rs 3 Lakh Cr In Defence Production By 2029 With Rs 50,000 Cr In Exports

30-03-2025 06:07 via zeenews.india.com

India now exports defence equipment to over 100 countries, with the US, France and Armenia emerging as the top buyers in 2023-24.

Got Married? Here’s How To Update Your Aadhaar Surname– Steps & Documents Inside

30-03-2025 04:03 via zeenews.india.com

The Aadhaar Card serves as an important proof of identity, so it's essential to keep it updated with accurate information.

FIIs offload Rs 1.27 lakh crore in FY2025, DIIs remain bullish

29-03-2025 18:32 via timesofindia.indiatimes.com

FIIs were net sellers of Rs 1,27,401 crore in FY2025, but selling eased in March. DIIs bought Rs 6,06,368 crore throughout the year. The change in FII strategy in March contributed to Nifty's gains. SEBI's new threshold for beneficial ownership disclosures and RBI's increased investment cap aim to boost market liquidity.

India, US to hold sector-specific talks to finalize trade pact in coming weeks

29-03-2025 16:42 via timesofindia.indiatimes.com

India and the US have agreed to hold sector-specific talks for a bilateral trade agreement aimed at doubling trade to USD 500 billion by 2030. Discussions will focus on increasing market access, reducing tariffs, and enhancing supply chains. The US seeks duty concessions in various sectors, while India is eyeing benefits for its labour-intensive industries.

India to expand solar PV module capacity to 125 GW by 2030: Pralhad Joshi

29-03-2025 15:08 via timesofindia.indiatimes.com

India's solar PV module manufacturing is set to reach 125 GW by 2030, up from 80 GW today. Solar cell capacity will rise to 40 GW. Pralhad Joshi highlighted local manufacturing and government's incentives. India aims to double its renewable energy capacity by 2030 and become a global leader in sustainable energy. Connectivity will reach more villages.

Delhi-NCR, Mumbai, Bengaluru Among Top 10 Asia-Pacific Markets For Rental Growth

29-03-2025 14:47 via zeenews.india.com

Delhi-NCR is positioned sixth in the APAC logistics market based on annual rental growth. At Rs 21.07 per square feet per month, the city’s rents grew at 2.8 per cent YoY.

Domestic Startups Secure More Than $150 Million This Week

29-03-2025 13:42 via zeenews.india.com

About 17 early-stage startups raised a total of $54.09 million in funding and fintech startup Abound led with a $14 million round.

UPI Users Alert! Key Rule Changes Coming Into Effect from April 1— Details Here

29-03-2025 12:57 via zeenews.india.com

Under the new rules, if your bank-registered mobile number remains inactive for a long time, your UPI ID will be deactivated.

Goldman Sachs cuts target prices on IT stocks amid US macroeconomic uncertainty

29-03-2025 12:16 via timesofindia.indiatimes.com

Goldman Sachs has cut price targets for Indian IT stocks due to anticipated lower revenue growth amid US economic uncertainty. With significant revenue from the US, companies like LTIMindtree were downgraded while TCS is viewed more favorably. The brokerage highlighted ongoing challenges including muted discretionary spending and potential project delays due to macroeconomic conditions.

German chemical firm plans $1.5 billion investment in India, says Goyal

29-03-2025 11:26 via timesofindia.indiatimes.com

Commerce and Industry Minister Piyush Goyal shared that a German chemical firm plans to invest USD 1.5 billion in India. A state has already identified land for the investment, aimed at boosting FDI. The government’s efforts to improve business conditions and resolve legal issues were highlighted as attracting global investments.

Need PAN In 10 Minutes? Here’s How To Apply Online Instantly– Check Steps

29-03-2025 07:19 via zeenews.india.com

If you need a PAN card urgently but don’t have one, you can get it within minutes using the e-PAN facility.

Centre To Launch Multilingual e-Governance Solution For Citizens To File Grievances

29-03-2025 05:30 via zeenews.india.com

The move is in pursuance of the directions of Prime Minister Narendra Modi to effect qualitative improvements in Grievance Redressal systems to make them more sensitive, accessible and meaningful.

At Rs 91,000/10gm, gold logs new high

28-03-2025 21:34 via timesofindia.indiatimes.com

Gold prices in Mumbai have reached a record high, surpassing Rs 91,000/10gm, driven by global uncertainties and tariff wars. Silver prices have also surged, crossing Rs 1 lakh/kg mark. A report by Goldman Sachs has further boosted gold's outlook with a new target price of $3,300 for 2025.

Banks' home loans grow more than industry credit

28-03-2025 20:52 via timesofindia.indiatimes.com

Banks have expanded their loan book by 9.3% with an additional Rs 15.3 lakh crore in the first 11 months of the financial year. Personal loans accounted for the largest share, with housing loans contributing significantly. Agriculture and vehicle loans also saw notable growth.

SEBI Extends Timeline For Mutual Funds, Portfolio Managers To Submit Data

28-03-2025 16:44 via zeenews.india.com

This move is expected to provide more flexibility to fund houses and portfolio managers while ensuring regulatory compliance.

Bribery Case: Law Ministry Urges Gujarat Court To Serve US SEC Summons To Gautam Adani

28-03-2025 16:41 via zeenews.india.com

The US SEC has accused Adani and his nephew, Sagar Adani, of running a bribery scheme worth hundreds of millions of dollars.

Adani Bribery Case: Law Ministry Sends US SEC Summons To Gujarat Court

28-03-2025 16:28 via zeenews.india.com

The US SEC has accused Adani and his nephew, Sagar Adani, of running a bribery scheme worth hundreds of millions of dollars.

Centre’s Transfer Of Tax Share To States Shoots Past Rs 11.8 Lakh Crore In April-Feb

28-03-2025 16:00 via zeenews.india.com

The Centre devolves tax revenue to states in accordance with the recommendations of the Finance Commission.

Did Not Deduct TDS On Rent Payment But Claimed HRA? Income Tax Department Is After You For....

28-03-2025 15:14 via zeenews.india.com

If you have claimed HRA but didn’t deduct TDS on rent and the tax Department may invalidate your claim.

Post Office savings schemes: Latest interest rates for April-June 2025 announced - check list

28-03-2025 14:10 via timesofindia.indiatimes.com

Latest Post Office Small Savings Schemes Rates: The government has announced that interest rates for small savings schemes will remain unchanged for the first quarter of FY 2025-26. PPF will continue at 7.1%, NSC at 7.7%, and both SCSS and SSY at 8.2%. Quarterly reviews determine these rates based on guidelines ensuring competitiveness.

ATM withdrawals to cost more: RBI revises fee from Rs 21 to Rs 23

28-03-2025 12:53 via timesofindia.indiatimes.com

The Reserve Bank of India (RBI) has updated the fee structure for transactions at ATMs and Cash Recycler Machines, increasing the charges by Rs 2. Effective from May 1, 2025, customers will have a limit of five free transactions at their own bank's ATMs and additional limited free transactions at other bank ATMs based on location.

Sensex, Nifty Ends FY25 With Over 5% Gain Amid Volatile Trade

28-03-2025 11:56 via zeenews.india.com

Despite the weak intra-day session, both benchmark indices recorded gains for the full financial year.

FIIs Return To Stock Market Amid Boost In India’s Economic Outlook: Report

28-03-2025 11:48 via zeenews.india.com

Above-average reservoir levels, increasing rural wages, lower tax rates and an improving job market are positives for the urban and rural economies, said the report by JM Financial Institutional Services.

Provident Fund Withdrawal: 8 Major Steps Taken By EPFO To Expedite Claim Settlement Process

28-03-2025 11:43 via zeenews.india.com

Here are the 8 major steps taken by EPFO to streamline the claim settlement process, knowing which can help you withdraw your PF hassle-free and use it for various purposes.

Modi Cabinet Announces DA Hike For Central Govt Employees; Check How Much Salary Will Increase, Arrear And Other Details

28-03-2025 11:37 via zeenews.india.com

New Delhi: Much to market expectations, the Union Cabinet led by PM Narendra Modi announced the much awaited Dearness Allowance (DA) and Dearness Relief Hike for lakhs of central government employees

India’s Billionaire Wealth Now Bigger Than Saudi Arabia’s GDP – Details Inside

28-03-2025 11:36 via zeenews.india.com

India’s billionaires now have a combined wealth of Rs 98 lakh more.

Tata Motors Expands Beyond SAARC Region, Launches Electric Cars In Mauritius

28-03-2025 11:34 via zeenews.india.com

Expanding beyond the SAARC region, Tata Motors launched its EV portfolio - Tiago EV, Punch EV, and Nexon EV - in Mauritius.

IFC anchors Alteria's new venture debt fund

28-03-2025 11:34 via timesofindia.indiatimes.com

Alteria Capital, India's largest venture debt manager, secured an anchor investment from the International Finance Corporation (IFC) in its Shorter Duration Scheme. The fund will address short-term liquidity needs for licensed fintech companies, consumer brands, and EV OEMS, further supporting new economy companies in India.

Last Chance! Save Up To Rs 2.40 Lakh On THIS Mahindra XUV700 Rival – Offers End March 31

28-03-2025 10:41 via zeenews.india.com

MG Hector: JSW MG Motor India’s "Power Pack" scheme on the MG Hector is about to end on March 31, 2025.