India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
New Delhi [India], July 6 (ANI): Confederation of Indian Industry (CII) President, Rajiv Memani, has countered prevailing market sentiment about private capital expenditure, asserting that while there's a perception of a slowdown, private capex is actually taking place across various industry sectors in the country. "There's an atmosphere suggesting that private capex is not happening, but actually capex is happening," Memani stated, citing data showing consistent private investment over the past three years. The CII President pointed to robust corporate fundamentals as evidence of ongoing investment activity. "If you look at listed companies and attend their AGMs, you'll find that CII members are looking to increase capex. Everyone has strong balance sheets, low debt, and the ability to raise funds from public markets," he explained. Memani emphasized that companies understand future growth imperatives. "There's a realization that if growth doesn't happen going forward, the market valuation benefits currently being received won't continue," he noted, suggesting this awareness is driving investment decisions. While acknowledging a slowdown in the past 6-8 months, Memani attributed this to external factors rather than structural issues. "The trade-related and tariff-related issues globally are causing uncertainty. Industries need stability - if they're producing a product today, they need to know what duties will be imposed," he explained. This uncertainty, according to Memani, makes capital expenditure decisions challenging. "Once these issues get resolved, the pace will pick up again," the president of the industry body predicted. The CII chief identified two key bottlenecks affecting large-scale projects. "Where thousands of skilled workers are needed, they're not getting mobilized properly, causing process slowdowns," he said, highlighting the skilled manpower shortage. Environmental clearances present another significant hurdle. "Earlier, clearances took time, but now environmental clearances alone take 12 months. Every process takes time, causing delays in capital deployment even after project announcements," Memani explained. To address these challenges, Memani called for targeted reforms. "We need to see if we can implement some reforms, increase skilled manpower, and support MSMEs. When large projects get investment, MSMEs will also benefit if we can provide them support," he suggested. Addressing concerns about loan disbursement patterns, Memani cautioned against using credit growth as the sole indicator of corporate health. "You can't compare everything with loan disbursement because corporates have strong balance sheets and money is coming from credit groups," he noted. "If you gauge how corporates are performing based on credit growth alone, it won't be entirely accurate," he added, pointing to alternative funding sources available to companies. In the retail lending space, Memani observed varied growth patterns. "Housing loans show good growth, personal loans show good growth, but some sectors are slower. The RBI has also imposed restrictions in some areas," he explained. The CII President acknowledged some impact on urban consumption in recent months. "Growth in several areas has been affected in the last three months, and urban consumption has seen some impact," he admitted. However, he maintained that the overall capex story remains positive, supported by strong corporate balance sheets and capital market access. Memani's assessment suggests that while private capex faces temporary headwinds from trade uncertainties and procedural delays, the underlying fundamentals remain strong. His emphasis on corporate balance sheet strength and market access indicates confidence in the sector's ability to drive investment growth once external uncertainties are resolved. "The balance sheet strength and capital market raising capacity are there, and some of that money is also flowing," he said reinforcing his optimistic outlook on private capital expenditure in India. (ANI) (This content is sourced from a syndicated feed and is published as received. The Tribune assumes no responsibility or liability for its accuracy, completeness, or content.)
The Reserve Bank of India raised the interest rate caps on Foreign Currency Non-Resident Bank (FCNR-B) deposits to attract more capital inflows, amid pressures on the rupee. Starting December 6, banks can offer higher rates -- up to 400 basis points for 1-3 year deposits and 500 basis points for 3-5 year deposits -- until March 31, 2025. This move comes as the rupee faces volatility.The Reserve Bank of India on Friday announced a raise in the interest rate caps on the Indian diaspora's foreign cu ...Read More >
Guwahati, Jun 5 (PTI) The Assam Congress on Thursday demanded a CBI inquiry into alleged illegal stone mining in Karbi Anglong district in violation of a Supreme Court order. Addressing a press conference here, former Rajya Sabha member Ripun Bora also alleged that Karbi Anglong Autonomous Council Chief Executive Member Tuliram Ronghang was allowing illegal activities in the district in nexus with Chief Minister Himanta Biswa Sarma. "Large-scale illegal stone mining is taking place in the hills of Karbi Anglong in violation of the Supreme Court order. The SC had banned mining in and around K ...Read More >
New Delhi [India], June 6 (ANI): Economists across the board have welcomed the Reserve Bank of India's (RBI) latest policy decision, terming the 50 basis points (bps) repo rate cut as a pro-growth move that is expected to significantly boost liquidity and economic activity in the country. On Friday, RBI Governor Sanjay Malhotra announced the decision of the Monetary Policy Committee (MPC), stating that the policy repo rate has been reduced from 6 per cent to 5.5 per cent. Also Read | Citigroup Layoffs: Banking Giant To Cut 3,500 Tech Roles From China Citi Solution Centres in Shanghai and Dal ...Read More >
NEW DELHI: Indian equities surged sharply after the Reserve Bank of India (RBI) delivered a larger-than-expected 50 basis points repo rate cut, reducing it to 5.5% in today's Monetary Policy Committee (MPC) meeting. The move, led by Governor Sanjay Malhotra, exceeded market expectations of a modest 25 basis points cut, thus fueling a broad-based rally. The BSE Sensex zoomed by about 800 points to trade above 82,200 level while the NSE Nifty surge more than 250 points to trade around 25,000 level as of 12.15 pm. Stocks in the rate-sensitive sectors like realty, banking, NFBC and auto counters ...Read More >
MUMBAI: Borrowing costs at India's two most rate-sensitive sectors - property and automobiles - are set to head South soon after the central bank Friday made its steepest rate cut since March 2020 and promised ample liquidity in the shape of the lowest cash reserve ratio (CRR) on record. The Nifty Realty index surged nearly 5%, even dwarfing gains for financial stocks, reflecting the likely impact of the big-bang policy moves on home purchases. Home, personal, and car loans tied to external benchmarks, such as the repo rate, will see an immediate downward reduction. However, loans tied to the ...Read More >
India's growth in gross domestic product (GDP) of 5.4% in the three months ended 30 September, or the second quarter of 2024-25, was a shocker. It undershot even the most pessimistic forecasts. It's the lowest level seen since the third quarter of 2022-23 and a sharp drop from 8.1% growth in the same period last year and also from 6.7% in the first quarter of 2024-25. The consensus expectation stood at about 6.5% and the Reserve Bank of India (RBI) was expecting around 7% growth till its October policy, only to pare it to 6.8%. Growth in gross value added (GVA), which is the preferred measure ...Read More >
New Delhi, [India], December 11 (ANI): The Supreme Court has expressed concern over the growing tendency to misuse Section 498A of the Indian Penal Code (IPC), which penalises cruelty by husbands and their relatives against married women. While quashing a Section 498A IPC case against a husband and his parents, a bench of Justices BV Nagarathna and N Kotiswar Singh said that the Section became a tool for unleashing personal vendetta against the husband and his family by a wife. Also Read | RBI Will Remain Alert and Agile to Meet Challenges, Says New Governor Sanjay Malhotra (Watch Video). " ...Read More >
New Delhi [India], February 7 (ANI): The Delhi High Court on Friday ruled against the use of logos and images related to Ratan Tata and Tata Trusts, acknowledging that Tata is a well-known trademark and that the late Ratan Tata is a prominent figure deserving of name protection. Justice Mini Pushkarna's bench, while hearing a lawsuit filed by the Sir Ratan Tata Trust and Tata Sons Pvt Ltd issued an injunction against Rajat Srivastava, who had been planning to organize an award ceremony named the 'Ratan Tata Icon Award.' Also Read | Rahul Gandhi Claims More Voters in Maharashtra Than Total Ad ...Read More >
Vijayawada (Andhra Pradesh) [India], May 22 (ANI): Former Andhra Pradesh Chief Minister and YSRCP president YS Jagan Mohan Reddy on Thursday launched a scathing attack on the current TDP-led government in the State, accusing Chief Minister Chandrababu Naidu of failing to deliver on pre-election promises and engaging in financial mismanagement. The former chief minister also took aim at what he called the "yellow media" for biased reporting in favour of the ruling party. "I am not only fighting against Chandrababu Naidu but also against the 'yellow media'," Reddy said in a press conference. ...Read More >
New Delhi, Jun 6 (PTI) The decision of the Reserve Bank to cut policy rate by 50 basis points will have a positive impact on the automobile sector as it will make loans cheaper, industry body SIAM said on Friday. The RBI on Friday cut repo rate by a higher-than-expected 50 basis points to prop up growth, which has slowed to a four-year low of 6.5 per cent in FY25. Following the rate cut, the key policy rate eased to a three-year low of 5.5 per cent, providing relief to home, auto and corporate loan borrowers. "Such reduction in repo rates would have a positive impact on the auto sector since ...Read More >
HELSINKI - Finnish financial company Sampo Oyj (HEX:SAMPO) has completed the acquisition of its own A shares on November 26, as part of its ongoing share buyback program. The company reported that a total of 93,734 shares were purchased across various marketplaces at a weighted average price of €40.16 per share. The buyback initiative, which was first announced on June 17, 2024, originally set out to purchase up to €400 million worth of its own shares. Following a decision by Sampo's Board of Directors on September 16, 2024, the program was expanded to €475 million. The buyback is conducted u ...Read More >
At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close The rupee fell 2 paise to trade at 84.49 against the U.S. dollar in early trade on Friday (November 29, 2024) dragged down by significant foreign fund outflows and month-end dollar demand from importers. Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close. On ...Read More >
As per Moneycontrol's calculations, a 7 per cent growth in the remaining two quarters will put India's GDP at 6.5 per cent. The Indian economy would find it challenging to achieve over 7 per cent growth for the fourth consecutive year, economists said. They pointed out that the second-quarter (Q2) Gross Domestic Product (GDP) data, which was announced on November 29, has made the task even more daunting for the government. "A sharper than expected growth slowdown in Q2 has tilted risks to our outlook of 6.8 per cent for the current fiscal downwards," said DK Joshi, chief economist, Crisil. ...Read More >
Guwahati (Assam) [India], December 13 (ANI): AIUDF MLA and Party General Secretary Dr Rafiqul Islam responded to the Union Cabinet's approval of the 'One Nation, One Election' and labelled the bill "very difficult and almost impossible" to implement effectively, questioning its sustainability given the country's vast and diverse political landscape. The AIUDF MLA claimed that the BJP lacks the majority to pass the bill in Parliament and suggested it might be referred to a Joint Parliamentary Committee (JPC). Also Read | Atul Subhash Suicide Case: Wife Nikita Singhania Absconds, Karnataka Pol ...Read More >
New Delhi [India], June 6 (ANI): Indian stock markets opened on a cautious note on Friday, as investors remained in a wait-and-watch mode ahead of the Reserve Bank of India's key monetary policy announcement. The policy decision is scheduled to be announced at 10 AM. The benchmark indices reflected this cautious mood. The Nifty 50 opened at 24,748.70, down just 2.20 points or 0.01 per cent. Similarly, the BSE Sensex also opened flat at 81,434.24, down 7.80 points or 0.01 per cent. Experts believe that any decision on the policy rate could significantly influence the market sentiment, especia ...Read More >
Mumbai, Jun 6 (PTI) Reserve Bank on Friday retained GDP growth projections for the current fiscal at 6.5 per cent, saying the Indian economy presents a picture of strength, stability and opportunity in the backdrop of global uncertainty. The FY26 growth projections are compared with the 6.5 per cent economic growth recorded in the 2024-25 fiscal year. The Reserve Bank of India (RBI) has projected economic growth at 6.5 per cent for the June quarter and 6.7 per cent for the September quarter. For the December and March quarters of FY26, GDP growth is estimated at 6.6 per cent and 6.3 per cent ...Read More >
The books for class 9-12 will be available from 2026-27. New Delhi: The National Council of Educational Research and Training (NCERT) has reduced the prices of books for classes 9 to 12 by 20 per cent. The decision was announced by NCERT Director Dinesh Prasad Saklani during an event held in the national capital on Monday. The reduction in the prices of books will be effective from the upcoming academic year. News agency PTI quoted the minister as saying that while the textbooks for classes 9- ...Read More >
Mumbai: The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds. Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down the Indian currency, forex traders said. Also, dollar strengthened on increased demand amid the anticipation of restrictive trade measures by the new US administration after Donald Trump takes over as president January 20. At the interbank foreign exchange, the ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
Mumbai (Maharashtra) [India], June 6 (ANI): NSE Sustainability Ratings and Analytics, a defunct subsidiary of the stock exchange NSE, has launched ESG ratings services for listed companies. It marks a significant milestone in advancing sustainable business practices in India. Also Read | Startup Growth in India: Country Now Has 1.76 Lakh Registered Startups and 118 Unicorns, Says FM Nirmala Sitharaman. NSE Sustainability focuses on assessing Environmental, Social, and Governance (ESG) performance, providing stakeholders with vital information to make informed decisions. The company NSE Sus ...Read More >
NEW DELHI: Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to ...Read More >
Anuj Kumar, Director & CEO of CAMS, highlights that despite recent market corrections, the company expects FY25 to be one of its strongest years. CAMS continues to dominate by winning 70-80% of new bids, focusing on execution and margin expansion, and anticipates significant revenue and profit growth driven by mutual funds and associated business lines.Anuj Kumar, Director & CEO, CAMS, says there has been some market correction and some flattening of the mood in the last two months. But as things come back, we should be holding our projections and FY25 should be one of the strongest years in t ...Read More >
MUMBAI: The sensex rallied 747 points (0.9%) on Friday to close at 82,189 points after RBI cut interest rate by 50 basis points (100bps = 1 percentage point), a move that market players feel has the potential to spur economic growth with loans becoming cheaper. Banking and financial stocks led the day's rally that added about Rs 3.6 lakh crore to investors' wealth with BSE's market capitalisation now at slightly over Rs 451 lakh crore.Nifty closed 249 points (1%) higher at 25,003 points. Most market players said that although a cut in interest rate by RBI was almost a given, the quantum of the ...Read More >
Mumbai (Maharashtra) [India], December 10 (ANI): The stock market ended Tuesday's trading session on a subdued note, with the benchmark indices showing little movement. The Sensex edged up by 1.59 points, closing at 81,510.05, while the Nifty declined by 8.95 points to end at 24,610.05. Also Read | Parliament Winter Session 2024: Congress, INDIA Bloc Allies Move No-Trust Motion Against Rajya Sabha Chairman Jagdeep Dhankhar; Alleges 'Proceedings in Upper House Conducted in Partisan Manner'. In the Nifty pack, 23 stocks advanced, while 27 ended in the red. Among the top gainers were Shriram F ...Read More >
New Delhi [India], December 12 (ANI): The gross NPA ratio of public sector banks declined to 3.12 per cent in September 2024 from 4.97 per cent in March 2015 and a peak of 14.58 per cent in March 2018, the government stated on Thursday, reaffirming the robustness of the banking system. The government emphasised its proactive support for the banking ecosystem, addressing both business needs and employee welfare to ensure stability, transparency, and growth. Also Read | Places of Worship Act Validity: Supreme Court Restrains Courts in Country Not to Entertain, Pass Orders on Suits Related to R ...Read More >
New Delhi [India], June 2 (ANI): The Supreme Court on Monday declined to entertain a petition alleging that the Assam government has reportedly launched a "sweeping and indiscriminate drive" to deport persons suspected to be foreigners to Bangladesh. A vacation bench of Justices Sanjay Karol and Satish Chandra Sharma asked the All BTC Minority Students Union (ABMSU) to approach the Gauhati High Court for appropriate relief. Also Read | INR 2,000 Currency Notes Worth INR 6,181 Crore Still in Circulation After Withdrawal 2 Years Ago, Reveals RBI Data. The petitioner said that the state of Ass ...Read More >
Oslo [Norway], June 5 (ANI): The Union Minister of Ports, Shipping & Waterways (MoPSW), Sarbananda Sonowal, attended the MoU signing ceremonies in Oslo, as Indian maritime companies inked them with leading global players, exploring opportunities for collaboration and future business. A Memorandum of Intent (MOI) was signed by Carsten Rehder Schiffsmakler und Rehder GmbH & Co. KG, Germany and Garden Reach Shipbuilders & Engineers Ltd (GRSE) for the construction of an additional 4 numbers of 7,500 DWT multi-purpose vessels. These vessels will have hybrid propulsion and will adhere to the latest ...Read More >
Bengaluru: The Karnataka government on Thursday took strong action against the police officers allegedly responsible for the Bengaluru stampede, suspending several high-ranking officials, including the city's police commissioner. Addressing a press conference, Chief Minister Siddaramaiah also announced a one-man commission to probe the lapses that triggered the deadly stampede. "Cubbon Park Police Station police inspector, station house master, station house officer, ACP, Central Division DCP, cricket stadium in-charge, additional commissioner of police, commissioner of police have been susp ...Read More >
New Delhi, Jun 6 (PTI) Reserve Bank monetary policy action to cut repo rate by large 50 basis points is among the most growth-oriented and borrower-centric interventions seen in recent years, and will reduce repayment burden on individuals as well as corporate, experts said. Home, auto and other loans are likely to cost less as the Reserve Bank of India (RBI) cut interest rates by a larger-than-expected 50 basis points on Friday, and unexpectedly reduced the cash reserve ratio for banks to make available more money to lend in a bid to boost the economy. Also Read | How To Activate Your UAN O ...Read More >
Mumbai (Maharashtra) [India], June 6 (ANI): Financial markets regulator SEBI has asked banks and mutual funds to attach the bank accounts and shares and mutual fund holdings of fugitive Mehul Choksi to recover Rs 2.10 crore dues for violating insider trading rules linked to shares of Gitanjali Gems. The dues of Rs 2.1 crore include Rs 1.5 crore penalty, Rs 60 lakh as interest (February 2022 to May 2025 at 1 per cent per month) and Rs 1,000 as recovery cost. On May 15, 2025, SEBI sent Mehul Choksi a notice asking him to pay the dues in 15 days. Failure to do so may result in freezing his asse ...Read More >