MUMBAI: HDFC Bank has reported a record addition of Rs 1.66 lakh crore in deposits for the quarter ended March 2024, in an attempt to bridge the gap between its loan book and deposits following the merger of HDFC with itself. A significant 77% of the incremental deposits (Rs 1.28 lakh crore) came from retail…
NEW DELHI: Telecom regulator Trai on Thursday sought stakeholders’ views on auction of three new spectrum bands in higher frequency range that will make available around 4,000 megahertz radiowaves for mobile services.The regulator has sought views on pricing, allocation norms, and payment terms, among others, for spectrum in frequency bands of 37–37.5 GHz, 37.5–40 GHz…
NEW DELHI: Riding a wave of strong demand, India’s services sector gathered strength in March, with sales and business activity at their strongest in 14 years, a survey showed on Thursday. Rising from 60.6 in February to 61.2 in March, the HSBC India services business activity index pointed to one of the strongest growth rates…
NEW DELHI: The pension scheme for the corporate and individuals, regulated by Pension Fund Regulatory and Development Authority (PFRDA), may have been hit by the new tax regime, which offers lower tax rates but no exemptions, such as, those for investment.Latest data released by PFRDA on Thursday estimated that the growth in overall subscriber base,…
MUMBAI: RBI has deferred the implementation of its rules on exchange-traded currency derivatives by a month, resulting in traders scrambling to square off their positions.RBI’s circular, which was scheduled to come into effect on April 5, said that only traders with an underlying forex exposure can trade in currency derivatives. Exchange-traded currency derivatives, like futures…
Tesla has begun production of right-hand drive cars at its plant in Germany for export to India later this year, three people aware of the company’s plans told Reuters, as it moves ahead with a possible entry into the world’s third-largest car market.A team from Tesla is expected to visit India later this month to…
MUMBAI: The concerns expressed by the Vistara pilots are not isolated incidents but rather indicative of systemic issues that extend across various Tata Group, Air India pilots said in a letter sent to theTata Group chairman on Thursday. They brought to the fore problems they have been facing with the Air India HR department as…
In an effort to manage global oil supplies amidst the Ukraine conflict, the United States has clarified its position regarding India’s purchase of Russian oil. According to US treasury officials, the objective of the sanctions and the $60 per barrel price cap imposed by the G7 is to ensure stable oil supplies globally while limiting…
India’s industry secretary said the ball is now in Tesla Inc.’s court to lay down its investment plans for the South Asian nation after the government cut import duty on electric vehicles.The industry department last month released a comprehensive policy for boosting EV manufacturing in the world’s most-populous nation. Following that move, it’s up to…
Byju Raveendran, the founder of Byju’s, a leading edtech company in India, has faced a significant setback as his net worth has dropped to zero, according to the latest Forbes Billionaire Index 2024. The report states that his net worth has come down from Rs 17,545 crore ($2.1 billion) to zero! Once a top player…
