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
RBI move to slow down gold loan growth, lead to uptick in delinquencies: Crisil, ETCFO
Mumbai: The Reserve Bank’s recent notification asking financiers to review their gold loan practices can slow down loan growth in the near-term and lead to an uptick in asset quality stress, a domestic rating agency said on Tuesday. “Potentially, this could impact gold loan disbursements during the transition phase and
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
India wouldn’t be fastest-growing economy if people hadn’t utilised digital infrastructure: Nirmala Sitharaman, ETCFO
Finance Minister Nirmala Sitharaman stated that India wouldn’t have been the fastest-growing economy if the people hadn’t utilized the digital infrastructure. The minister emphasized the role of digital infrastructure in making India one of the fastest-growing economies. “Today, India wouldn’t have been the fastest-growing economy if the people hadn’t utilized
CBIC destroys ₹460 crore worth of drugs, foreign cigarettes, and contraband in SpecialCampaign4.0
The Finance Ministry on Friday said that various wings of the Customs department have jointly destroyed a total of around 49 lakhs cigarettes of foreign origin, around 73 Kgs of NDPS drugs (Heroin, Cocaine, Ganja, Charas, etc), Gutkha/ Pan Masala and eCigarettes. Also read: CBIC urges strict reviews of Govt
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
IMF sees major manufacturing shift towards India & China, CFO News, ETCFO
The International Monetary Fund (IMF), in its latest World Economic Outlook report, has highlighted a significant global shift in manufacturing production towards emerging markets like India and China, as advanced economies lose competitiveness. This trend indicates that emerging economies like India are becoming key players in the global manufacturing landscape.
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