Economy news - NewsLocker

PM e-drive scheme to aid in faster adoption of EVs: M&M, Tata Motors

12-09-2024 22:03 via timesofindia.indiatimes.com

Mahindra & Mahindra and Tata Motors have lauded the PM e-drive scheme designed to enhance electric vehicle adoption in India. The Union Cabinet has sanctioned two schemes worth Rs 14,335 crore for promoting EVs such as buses, ambulances, and trucks. Key industry figures anticipate that this move will expedite India's progress towards sustainable transportation.

Over $310 million linked to Adani Group in Swiss banks frozen for probe: Hindenburg

12-09-2024 20:02 via timesofindia.indiatimes.com

Swiss authorities have frozen over $310 million across six bank accounts connected to the Adani Group as part of a money laundering and securities forgery investigation. Initiated in 2021, the probe has uncovered financial practices involving offshore entities. Recent allegations against SEBI chairperson Madhabi Puri Buch have reignited the controversy.

Adani Group rejects Hindenburg claim of $310 million asset freeze in Swiss banks

12-09-2024 20:02 via timesofindia.indiatimes.com

The Adani Group has denied allegations from Hindenburg Research that Swiss authorities froze over $310 million across six bank accounts amid a money laundering investigation. The group clarified it is not involved in any Swiss court proceedings and emphasized its commitment to transparency and legal compliance.

Trump's plan to hike tariffs would spike shipping costs, just like in 2018, experts say

12-09-2024 19:39 via timesofindia.indiatimes.com

US presidential contender Donald Trump plans to hike import tariffs if re-elected, potentially driving up cargo rates and inflation. His proposal includes blanket tariffs of 10% to 20% on most imports and higher rates on Chinese goods. Experts warn this could lead to increased consumer costs and disrupted supply chains.

Granules India stock crashes after USFDA concerns

12-09-2024 18:25 via timesofindia.indiatimes.com

The USFDA issued six observations to Granules India's Gagillapur facility in Hyderabad after an inspection between August 26 and September 6. The company is committed to addressing these issues promptly and will submit its response within the stipulated time frame. Following this news, Granules India's stock fell by over 16% on the BSE.

What Is PM E-DRIVE? Government To Spend Rs 10,900 Crore In 2 Years For Electric Mobility Push

12-09-2024 18:04 via zeenews.india.com

PM E-DRIVE: The scheme has an outlay of Rs 10,900 crore over a period of two years.

TV advertising in news genre up in first half, driven by F&B

12-09-2024 17:51 via timesofindia.indiatimes.com

Television advertising in the news genre increased by 5% year-on-year during January-June, driven primarily by food and beverages. Cement emerged as the top category with Ultratech Cement leading. Hindi News led ad volumes, while Reckitt Benckiser and Hindustan Unilever retained their positions as top advertisers.

India-China Direct Flights To Resume Soon? Here's What Aviation Minister Says

12-09-2024 17:51 via zeenews.india.com

India-China Direct Flights: Union Civil Aviation Minister K Rammohan Naidu on Thursday took to social media platform X to say India and China discussed ways to strengthen cooperation in the civil aviation sector but deleted the post hours later without offering an explanation or a revised post.

'Rate Cuts Expected As Retail Inflation Remains Below RBI Forecast'

12-09-2024 16:53 via zeenews.india.com

The year-on-year inflation rate (3.65 per cent), based on the All India Consumer Price Index (CPI), for the month of August was the second lowest in the last five years.

Paytm has a compliance first approach; aims to deliver profitability soon: Vijay Shekhar Sharma

12-09-2024 16:38 via timesofindia.indiatimes.com

During Paytm's 24th AGM, CEO Vijay Shekhar Sharma highlighted a shift towards a compliance-first approach and the goal of achieving profitability. Despite regulatory issues and increased losses, Sharma underscored AI's importance in their operations. Paytm intends to apply for an RBI payment aggregator license to expand its core payments business.

Ruth Herbert to head business development at Essar-promoted EET

12-09-2024 15:15 via timesofindia.indiatimes.com

Essar Energy Transition has appointed Ruth Herbert as managing director for business development and strategic initiatives. With over 15 years in the energy sector, she will focus on identifying new opportunities and aligning projects with the evolving energy landscape. Previously, she was CEO of the UK's Carbon Capture Storage Association, where she expanded its membership and influence.

Microsoft Layoff: Company To Cut Hundreds Of Jobs In Xbox Gaming Unit

12-09-2024 15:10 via zeenews.india.com

According to the memo, no games, devices, or experiences are being cancelled and no studios will be shut down as part of these adjustments.

India's Industrial Production Growth Reached To 4.8% In July 2024, Up From Revised June Figure Of 4.7%

12-09-2024 14:37 via zeenews.india.com

The Quick Estimates for July 2024 show that the IIP stands at 149.6, up from 142.7 in July 2023, reflecting a year-on-year improvement.

Aadhaar card update: Do you have to compulsorily update details on your Aadhaar every 10 years?

12-09-2024 13:30 via timesofindia.indiatimes.com

The Unique Identification Authority of India (UIDAI) encourages citizens to review and update their Aadhaar card details, especially for those who obtained their cards over a decade ago.

Sensex Scales Mount 83K, Nifty At Lifetime High On Rally In Blue-chip Stocks, Global Peers

12-09-2024 12:45 via zeenews.india.com

A sharp fag-end rally drove the 30-share BSE Sensex to the 83,000 level for the first time. The barometer surged 1,593.03 points or 1.95 per cent to hit its lifetime intra-day peak of 83,116.19 in the last hour of trade. The index closed at a record high of 82,962.71, up by 1,439.55 points or 1.77 per cent.

Petrol, Diesel May Become Cheaper? Petroleum Secretary Hints At Good News, But There's A Catch

12-09-2024 12:10 via zeenews.india.com

The Petroleum Secretary also said that government is mulling removal of windfall tax, stating that India's oil ministry is in talks with the finance ministry regarding the same.

This Modi Govt Scheme Will Reduce Your Electricity Bill Drastically - Know How To Apply

12-09-2024 11:59 via zeenews.india.com

The process of installing solar panels has also become much faster.

Sebi Chief Madhabi Puri Buch Cancels Mumbai Event Where She Was To Give Keynote Speech

12-09-2024 11:49 via zeenews.india.com

Sebi Chief has found herself in the in the eye of the storm amidst allegations of office of profit and violating the market regulator’s conflict of interest policy, by earning renumerations from listed companies while being at the helm of the regulatory body.

Petrol, Diesel Prices May Become Cheaper? Petroleum Secretary Hints At Good News, But There's A Catch

12-09-2024 11:36 via zeenews.india.com

The Petroleum Secretary also said that government is mulling removal of windfall tax, stating that India's oil ministry is in talks with the finance ministry regarding the same.

Maruti Swift CNG Launched: 32+ Km Mileage, 6 Airbags, 7-inch Touchscreen & What Not - Check Prices

12-09-2024 11:35 via zeenews.india.com

Maruti Swift CNG: The Swift CNG is available in three variants — VXi CNG, VXi (O) CNG, and ZXi CNG — priced at Rs 8,19,500, Rs 8,46,500, and Rs 9,19,500, respectively.

Centre's health coverage scheme for elderly above 70 under Ayushman Bharat: All you need to know

12-09-2024 11:21 via timesofindia.indiatimes.com

The Union Cabinet has approved several initiatives, including expanding the Ayushman Bharat scheme to cover all senior citizens aged 70 and above. This extension provides around 6 crore seniors with free health insurance of up to Rs. 5 lakh per family annually. The scheme aims to improve healthcare access for approximately 4.5 crore families across India.

Ayushman Bharat Yojana For Senior Citizens: Which Diseases Are Covered For Free Treatment Under AB PM-JAY

12-09-2024 11:12 via zeenews.india.com

Ayushman Bharat Yojana Services include approximately 1,929 procedures covering all the costs related to treatment, including but not limited to drugs, supplies, diagnostic services, physician's fees, room charges, surgeon charges, OT and ICU charges etc.

India discusses resuming direct commercial flights with China

12-09-2024 11:01 via timesofindia.indiatimes.com

India and China are exploring the resumption of direct commercial flights, which remain suspended post-Covid. Union aviation minister Rammohan Naidu met with a Chinese delegation led by Song Zhiyong to discuss strengthening civil aviation ties. This discussion occurred during the second Asia Pacific conference on civil aviation hosted by India.

Maruti Suzuki Targets To Sell 6 Lakh CNG Units This Fiscal: Partho Banerjee

12-09-2024 10:25 via zeenews.india.com

Maruti Suzuki: Maruti Suzuki India is looking to sell around 6 lakh CNG vehicles in the current fiscal, an increase of around 25 per cent as compared to FY24, according to a senior company executive.

You are being tracked! How your personal information is being sold for just Rs 150-300 to telemarketing companies, BPOs, call centres

12-09-2024 10:14 via timesofindia.indiatimes.com

Misuse of data for scams continues to be a major issue. The sale of personal information for Rs 150-Rs 300 by informants to call centres and telemarketing companies is widespread. The new Digital Personal Data Protection Act seeks to limit this unregulated data circulation, but experts suggest it may take two to three years for full compliance.

Big Update For Homebuyers! 2,000 Residential Plots Coming Near Noida Airport During Navratri, Check Yamuna Expressway Authority Scheme

12-09-2024 09:48 via zeenews.india.com

A new residential plot scheme consisting of around 2,000 land parcels is scheduled to be introduced by the Yamuna Expressway Industrial Development Authority (YEIDA) on the occasion of the Navratri festival. These plots, which fall into the smaller size category, are intended for buyers in the middle income group. The sectors close to the Noida International Airport would see the introduction of the new residential plot concept.

Gold Price Today, 12 September 2024: Gold Futures Rise Rs 86 To Rs 72,013/10G

12-09-2024 09:41 via zeenews.india.com

On the Multi Commodity Exchange, gold contracts for October delivery traded higher Rs 86 or 0.12 per cent at Rs 72,013 per 10 grams in a business turnover of 14,775 lots.

Gold ETFs glitter again! Investors return to buying Gold Exchange Traded Funds with no fresh issues of Sovereign Gold Bonds in sight

12-09-2024 09:30 via timesofindia.indiatimes.com

Investors are increasingly turning to gold ETFs amid the absence of new Sovereign Gold Bond issues and recent tax reductions. Inflows into these funds have hit Rs 4,500 crore over four months.

HDFC Bank in talks with several global banks to offload $1 billion in loans

12-09-2024 08:45 via timesofindia.indiatimes.com

HDFC Bank Ltd., India's largest private sector lender, is in discussions with global banks such as Barclays and JPMorgan to offload up to $1 billion in loans. This effort seeks to align its credit book with deposits due to a worsening credit-to-deposit ratio.

Fixed Deposit rates above 8%: These small finance banks are offering over 1% higher FD rates than big banks like SBI, HDFC Bank

12-09-2024 08:37 via timesofindia.indiatimes.com

Small finance banks have increased fixed deposit rates to over 8% for two-year tenures, challenging larger banks like SBI and HDFC Bank. This move seeks to attract more deposits amid growing alternative investments.

Exam Special Trains: 12 Extra Trains To Run For THESE Candidates - Check Full Schedule

12-09-2024 07:52 via zeenews.india.com

Exam Special Trains To Help Candidates: The Northeast Frontier Railway has decided to operate 12 examination special trains to help candidates appearing for Gr. III & IV examinations that are scheduled on September 15, 2024, in Assam.

Muhammad Yunus-Led Bangladesh Interim Govt To Review Adani Power Deal: Report

12-09-2024 07:48 via zeenews.india.com

Indian companies like PTC India, NVVL Ltd and Semcorp Energy India, supply power to Bangladesh, other than Adani Power.

Good News For Mumbaikars: Northbound Vehicles On Coastal Road Can Directly Enter Bandra-Worli Sea Link From Friday - Details

12-09-2024 07:16 via zeenews.india.com

Bandra-Worli Sea Link Connectivity: The Brihanmumbai Municipal Corporation announced on Wednesday that the northbound vehicles on the Coastal Road can directly enter the Bandra-Worli Sea Link from Friday.

'JPMorgan and Bank of America to curb young banker work hours'

12-09-2024 06:55 via timesofindia.indiatimes.com

JPMorgan Chase and Bank of America are addressing concerns over excessive work hours for junior bankers. JPMorgan will cap weekly hours at 80, except during live deals. Bank of America is launching a platform to monitor workloads daily. These initiatives aim to manage workload distribution better and ensure junior bankers' health.

Rs 5 Lakh Free Health Insurance Cover To Senior Citizens Aged 70 Years And More, No Income Threshold: All About Ayushman Bharat Pradhan Mantri Jan Arogya Yojana

12-09-2024 06:12 via zeenews.india.com

Senior citizens of 70 years and above who are under private health insurance policies or Employees’ State Insurance scheme will be eligible to avail benefits under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana.

Stock market today: BSE Sensex surges over 1,400 points, ends just shy of 83,000; Nifty50 above 25,350 as bulls charge in - top reasons

12-09-2024 05:51 via timesofindia.indiatimes.com

Stock market today: BSE Sensex and Nifty50 surged over 1.5% to reach new all-time highs, reflecting positive global market sentiment. The market capitalization of all listed companies on the BSE increased by Rs 6.6 lakh crore, reaching Rs 467.36 lakh crore

Stock market today: BSE Sensex surges over 1,000 points; Nifty50 above 25,250 as bulls charge in

12-09-2024 05:51 via timesofindia.indiatimes.com

Stock market today: The over 1% surge in BSE Sensex and Nifty50 mirrored global market trends. This upswing was driven by expectations of increased foreign inflows into domestic equities.

Stock market today: BSE Sensex opens over 400 points up; Nifty50 above 25,000

12-09-2024 05:51 via timesofindia.indiatimes.com

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, surged in trade on Thursday. While BSE Sensex moved up 400 points, Nifty50 was above 25,000.

Stock trading scam: Special task force detains Assamese actress Sumi Borah, husband

12-09-2024 05:21 via timesofindia.indiatimes.com

Assamese actress Sumi Borah and her husband were detained by the Special Task Force for their involvement in a multi-crore online trading scam. Borah announced her intention to surrender due to defamatory media coverage and assured full cooperation with the investigation. A lookout circular was issued after they failed to appear for questioning.