Religare Enterprises clarifies IRDAI’s no-objection letter not a final regulatory nod for Burman family’s open offer
Religare Enterprises Ltd (REL), currently at the centre of a corporate control tussle, asserted on Friday that IRDAI’s recent no-objection letter to the Burman family’s open offer for REL shares should not be interpreted as regulatory approval for the proposed acquisition of the diversified financial services group. This clarification aims
Malaysia, Indonesia export sops for refined edible oils a worry, says IVPA chief
After the hike in edible oil import duties, the industry fears that refined oils may reach India via Nepal and Bangladesh where the Free Trade Agreement (FTA) is in force. Getting the edible oils processed there and selling it in India can still be cheaper. Besides, the Government has to
RBI deputy governor, CFO News, ETCFO
India’s GDP growth is projected at 7.2 per cent in 2024-25, around 7 per cent in the next fiscal, and after that, there is a strong likelihood that the growth will revert to the 8 per cent trend, said Reserve Bank of India deputy governor Michael Debabrata Patra. He was
Govt to soon come out with battery-swapping guidelines for electric buses/cars
The government is finalising battery swapping guidelines for electric buses and cars, in addition to two and three wheelers which are already functional in some of the cities. The Ministry of Heavy Industries (MHI) will take the proposal to the Prime Minister Office (PMO) in the next fortnight for approval.
Gujarat HC orders release of SW South Wind I after pact with exporting firm
The Gujarat High Court on Friday ordered the release of merchant vessel SW South Wind I following a settlement between the vessel’s sub-charterer and MEIR Commodities India Limited. Justice Aniruddha P Mayee passed an oral order after the sub-charterer of the vessel agreed to pay MEIR Commodities claim of $250,984
Indian ceramic tiles industry thrives domestically but struggles in export markets: ICRA report, ETCFO
The Indian ceramic tiles industry finds itself at a critical juncture, as a recent report by ICRA reveals contrasting trends in the domestic and export markets. While the domestic sector remains strong, accounting for around 64 per cent of the industry’s revenue, exports are showing signs of weakness. This decline
Poultry industry set for recovery in current fiscal on softening input prices, demand: Report
The Indian poultry industry, which faced challenges in the past couple of years due to volatile market conditions is set for recovery in the current fiscal with prices of inputs such as maize and soyabean stabilising aided by demand growth, according to a report. The CareEdge Ratings anticipates an 8-10
Cash transactions decline rapidly in India as digital payments surge: RBI economist, ETCFO
New Delhi, In the last three years, digital transactions have surged in such a fashion in India that cash usage, which still accounts for 60 per cent of consumer expenditure (as of March 2024) is rapidly declining, according to a paper by the Reserve Bank of India (RBI) economist. Pradip
Maharashtra, Rajasthan, Gujarat lead the millet march, others lag behind
Maharashtra leads the way in millet consumption in the country with a per capita consumption of 39 kg per month, followed by Rajasthan (33 kg), Gujarat (17 kg), Karnataka (13.5 kg) and Tamil Nadu with 11.4 kg. On the other hand, States like Uttarakhand, Chhattisgarh, Arunachal Pradesh, and Telangana show
RBI Governor Shaktikanta Das, ETCFO
India cannot risk another bout of inflation and the best approach would be to remain flexible and wait for more evidence of inflation aligning durably with the target, Reserve Bank Governor Shaktikanta Das observed in the last meeting of MPC while also noting that the Indian economy presents a picture