Mumbai, Jul 2 (PTI): The Reserve Bank of India (RBI) on Wednesday instructed banks and other financial institutions not to levy any pre-payment charges on all floating rate loans and advances, including those taken for meeting business objectives by individuals and micro and small enterprises (MSEs). These new rules will be enforced on all loans which are sanctioned or renewed on or after January 1, 2026. According to the current norms, banks and NBFCs are already not permitted to impose forecl...Read More
Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open flat on Friday, tracking mixed cues from global markets. Asian markets traded mixed, while the US stock market ended higher, with the S&P 500 and Nasdaq closing at record highs. On Thursday, the Indian stock market ended lower, dragged by fag-end selling, extending losses for the second consecutive session. The Sensex declined 170.22 points, or 0.20%, to close at 83,239.47, while the N...Read More
New Delhi [India], July 4 (ANI): SpiceJet on Thursday acknowledged that some passengers are currently facing difficulties in reaching the airline's customer care helpline due to intermittent technical issues. The airline said efforts are underway to restore normal functioning as soon as possible. In an official message on X, SpiceJet stated, 'We are currently experiencing intermittent issues with our SpiceJet Customer Care helpline numbers. We assure you that our relevant teams are working to r...Read More
Mumbai: Lenders to Vodafone Idea Ltd are worried that the telecom operator which is trying to borrow ₹35,000 crore more may prioritize paying its government debts over its new bank loans, a person aware of the matter said. Their concern centres around the company's ability to sustain loan repayments on the proposed loans if Vodafone Idea has to pay the adjusted gross revenue (AGR) dues to the government. The weakest player in India's telecom landscape has been steadily posting losses since FY17...Read More
New Delhi: A mix of fiscal and non-fiscal incentives can propel India's chemicals industry into the global big league, policy think-tank NITI Aayog said on Thursday, a sector that can catalyze India's journey to a $5-trillion economy and beyond. The strategic roadmap unveiled in a new report aims to raise India's share of the global chemicals value chain from the current 3-3.5% to as much as 6% by 2030 and 10-12% by 2040. Achieving this will demand coordinated national efforts spanning policy ...Read More
New Delhi: Indian businesses are hoping for a breakthrough in trade negotiations with the US as the deadline for higher reciprocal tariffs approaches, said Rajiv Memani, chairman and chief executive of EY India, who has recently taken over as president of the Confederation of Indian Industry (CII) for 2025-26. Speaking to reporters on Thursday, Memani underscored the urgency of boosting Indian competitiveness through regulatory and business reforms. "India's economy is expected to grow at 6.4-6...Read More
New Delhi: India is well-positioned to benefit from a global realignment in trade and investment flows driven by shifting tariff regimes, and could outpace several Asia-Pacific (APAC) peers, Moody's Ratings said on Thursday. As multinationals reassess supply chains amid rising protectionism and evolving trade policies, India's relative tariff advantage may strengthen its appeal as an emerging global manufacturing hub, Moody's noted in its latest Sovereigns - Asia-Pacific Outlook. "India may be...Read More
New Delhi: India's power sector added a net capacity of about 6.9 GW in April and May, most of it in the renewable energy space. Data from the Central Electricity Authority showed 6.45 GW of renewable energy capacity was added in the first two months of this financial year. This is more than double the 3 GW of renewable energy capacity added in the corresponding months of 2024-25. About 700 MW of nuclear power capacity and 200 MW of large hydro capacity were also added in April and May. No th...Read More
MUMBAI, July 3 (Reuters) - The Indian rupee touched its strongest level in a month on Thursday, lifted by dollar sales from foreign banks and cutting of bearish bets on the local currency, while optimism surrounding a U.S.-India trade deal also aided sentiment. The rupee rose to a peak of 85.20, its best level since late May, before ending the session at 85.31, up 0.4% on the day. Dollar sales from foreign banks in the latter half of Thursday's session boosted the rupee, with the rise above 85...Read More
Kargil , Jul 2: Pursuant to putting in place a comprehensive legal framework to ensure fair, inclusive, and transparent recruitment to public services, the Administration of the Union Territory of Ladakh has initiated a large-scale recruitment drive for 359 Gazetted posts through the Union Public Service Commission (UPSC). This marks the first-ever recruitment of Gazetted posts through UPSC since the formation of the Union Territory, officials said. This follows the establishment of a unique an...Read More
Mumbai: Even as mis-selling of insurance plans by banks has drawn scrutiny, the sector regulator doesn't want to manage distribution channels and seeks to focus on customer awareness to check the malpractice. "It's not necessary that every mis-selling is mis-selling, it's also about the customers' understanding of the product," said Swaminathan S Iyer, member (life), Insurance Regulatory and Development Authority of India on the sidelines of an event on Wednesday. "Once you drive home that your...Read More
Mumbai: Tata Sons chairman N. Chandrasekaran has set a new goal for Tata Steel Ltd chief executive and managing director T.V. Narendran: to deliver net profit from the company's UK operations in the current fiscal year. Addressing shareholders at Tata Steel's annual general meeting on Wednesday, Chandrasekaran, who also chairs the steelmaker, said the aim was for the UK operations to achieve net profitability this fiscal year. "I feel that UK should be PAT (profit after tax) positive, so the c...Read More
Bengaluru Stampede: BCCI Ombudsman instructs RCB, KSCA to file written submissions New-crowned Indian Premier League (IPL) champions Royal Challengers Bengaluru have landed in further trouble after BCCI Ombudsman-cum-Ethics Officer Justice (Retd) Arun Mishra directed the franchise, along with the Karnataka State Cricket Association (KSCA), to file written submissions over gross negligence during the team's victory celebrations in Bengaluru, which led to the death of 11 people. The Ombudsman ha...Read More
New Delhi: The mood at Hyundai Motor India Ltd's office in Gurugram isn't exactly upbeat today. Passenger vehicle sales data for June were released on 1 July. And for the South Korean carmaker, once the No. 2 in India by some distance, it once again made for dismal reading. The company has finished behind Mahindra and Mahindra four out of six months this calendar year. Indeed, it has trailed the Indian company every month this fiscal year. And that is bad news for José Munoz. In January, Munoz...Read More
New Delhi, Jul 2 (PTI) The road transport ministry has allowed cab aggregators to charge up to two times the base fare during peak hours, as against 1.5 times earlier, while for non-peak hours the fare has to be a minimum of 50 per cent of the base fare. The Ministry of Road Transport and Highways in its 'Motor Vehicles Aggregator Guidelines 2025' said "the aggregator shall be permitted to charge a minimum of 50 per cent lower than the base fare and a maximum dynamic pricing of two times the ba...Read More
New Delhi: There is no direct link between covid-19 vaccinations and reported instances of sudden death among adults in the country, the health ministry said, citing extensive studies carried out by India's top medical research bodies. The investigations by the Indian Council of Medical Research (ICMR) and the All-India Institute of Medical Sciences (AIIMS) identified lifestyle choices, pre-existing health conditions and genetic factors as the key contributors to these sudden deaths, the minist...Read More
Kolkata gangrape case: The main accused in the Kasba gangrape case Monojit Mishra wanted capital punishment for the culprits of the RG Kar rape case that shook the nation last year, a new report has said as new chilling details emerge regarding the crime. One of the women, quoted by Anandabazar Patrika, has accused expelled TMCP leader Mishra of sexually harassing her during a college picnic in 2023. "Alcohol arrangement was made under the supervision of Monojit. I went to a room to get my pho...Read More
Jaipur: Police in Didwana have stepped up their probe into a cross-border smuggling case in which they arrested two arms and drug smugglers on June 27 for supplying Austrian Glock and Chinese Norinco pistols. It has emerged that the case has links to a massive Rs 300-crore heroin consignment seized by Punjab's Amritsar police near the India-Pakistan border in Barmer on June 30. Canada-based Joben Kaler was identified as the main overseas handler of the heroin consignment. Didwana-Kuchaman police...Read More
Mumbai: Bank credit growth to non-banking financial companies (NBFCs) continues to lose steam, even after the Reserve Bank of India (RBI) rolled back tighter risk-weight norms earlier this year to support the sector. Experts said NBFCs are increasingly turning to bond markets for cheaper and quicker funding, while stress in microfinance and unsecured business loans has made banks cautious. Data from the RBI showed that in May 2025, bank credit to NBFCs fell by 0.3% year-on-year (y-o-y) to ₹15.6...Read More
Bihar Election 2025: The Bharatiya Janata Party (BJP) on July 1 launched a scathing attack on RJD leader Tejashwi Yadav over his remarks on the Waqf Act, calling him a 'Maulana - a Muslim cleric. The saffron party accused the former deputy chief sister of polarising the society on communal lines, sensing opposition Mahagathbandhan's 'imminent' defeat in the assembly polls due later this year. The BJP was responding to Yadav's earlier assertion that the opposition grand alliance in Bihar will c...Read More
New Delhi: Central and state governments collected ₹1.85 trillion in Goods and Services Tax (GST) revenue in June, reporting a 6.2% annual improvement, although the revenue receipt was the lowest in four months. The moderation from the more than ₹2 trillion-level seen in the first two months of the current financial year comes on account of a sharp reduction in tax collection from domestic transactions. GST on imported items also witnessed some moderation in June. However, cumulatively, in the...Read More
Bengaluru, Jul 1 (PTI) The Central Administrative Tribunal (CAT) on Tuesday observed that the Royal Challengers Bengaluru are "prima facie responsible" for the stampede outside Chinnaswamy Stadium on June 4, which led to the death of 11 people. Nearly 2.5 lakh fans thronged the MG Road and Cubbon Road areas near the stadium after RCB announced a victory parade from the Vidhana Soudha and a fan engagement programme at the stadium to celebrate the team's maiden IPL triumph. "...therefore, prima ...Read More
MUMBAI, July 1 (Reuters) - The Indian rupee strengthened on Tuesday, alongside most Asian peers, as worries over U.S. President Donald Trump's fiscal policies and uncertainty around trade deals kept the dollar pinned at a more than three-year low against major peers. The rupee closed at 85.52 per U.S. dollar, up about 0.3% on the day. While the rupee strengthened on the day, it was unable to hold onto gains above the 85.50 mark, with traders pointing to bids from a large state-run bank and a f...Read More
Telangana factory blast: As the death toll from the explosion at the pharma plant in Pashamylaram rose to 36, Telangana Chief Minister Revanth Reddy on Tuesday said his government will engage with the management of Sigachi Industries Ltd to ensure that a compensation of ₹1 crore each is paid to the kin of those who died. Reddy, who visited the blast site, said those who are seriously injured will receive ₹10 lakh, while those who are injured but can resume work after some recovery will be provi...Read More
Bengaluru: As many as 26 patients were shifted to another ward after a fire erupted in the seminar room of the burns ward of Bengaluru's Victoria Hospital at 3 am on Tuesday. At the time of the fire, 26 patients -- including 14 men, five women and seven children were there in the burns ward. Among the 26 patients, five patients were in ICU, Ramesh Krishna K, Dean and Director of Bangalore Medical College and Research Institute said in a statement, as per PTI. No casualties or injuries were re...Read More
New Delhi, Jul 1 (PTI) State-owned CIL on Tuesday said coal production dropped by 8.5 per cent to 57.8 million tonnes (MT) in June even as the government aims to increase the output to reduce the dependency on imports. The coal production by the PSU was 63.1 MT in the corresponding month of the previous fiscal, Coal India Ltd (CIL) said in a regulatory filing. The coal output by the PSU in the first three months of the current fiscal also dropped to 183.3 MT, over 189.3 MT produced in the Apri...Read More
Dharamshala (Himachal Pradesh) [India], July 1 (ANI): Hollywood actor Richard Gere on Tuesday joined in celebrations in Dharamshala and the surrounding regions of Kangra in Himachal Pradesh ahead of the 90th birthday of 14th Dalai Lama While the Dalai Lama's birthday falls on July 6 as per the Gregorian calendar, festivities began on June 30 in accordance with the Tibetan calendar. The event has been attracting spiritual leaders, dignitaries, and well-wishers who have been arriving from differe...Read More
New Delhi [India], July 1 (ANI): Bajaj Auto Limited reported nearly flat total sales for June 2025 on a year-on-year basis, as gains in the commercial vehicle segment balanced the dip in two-wheeler sales. The two-wheeler segment recorded a 2 per cent YoY decline, falling to 2,98,484 units in June 2025 from 3,03,646 units in June 2024. Domestic sales dipped 16 per cent, but exports rose by 18 per cent, reflecting a shift in market dynamics. Additionally, from the period of April to June 2025, t...Read More
New Delhi: India's manufacturing sector activity rose to a 14-month high in June on the back of expansions in output, new orders, and job creation, a private survey showed on Monday. The HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 58.4 in June, up from 57.6 in May from 58.2 in April and 58.1 in March. India's manufacturing PMI was 56.3 in February and 57.7 in January. A reading above 50 indicates expansion. To be sure, the headline figure was abo...Read More
Valencia India IPO allotment: The allotment status for Valencia India Limited's SME initial public offering (IPO) was scheduled to be finalised on Tuesday, July 1, after the issue witnessed healthy participation across investor segments. Investors who subscribed to the IPO can now check their allotment status through the registrar, Kfin Technologies, as well as the BSE website. According to the IPO schedule, equity shares will be credited to the demat accounts of successful applicants on Wednes...Read More