Today India as a nation-state is looking upwards, there is a positive mood, and the economy is moving Northwards. Stock markets are good and GDP growth is getting a thumbs up from economists and rating organizations across the world. We have a very healthy FOREX reserve. We have done a great job in IT, ITES, like BPO … Read more
State Bank of India (SBI), India’s largest lender, reported its highest-ever quarterly profit in the second quarter. The bank’s net profit increased 74% year on year for the quarter that ended on September 30, as core income increased and bad loan provisions decreased as the non-performing assets (NPA) ratio dropped. The net profit for the quarter was Rs … Read more
Oxfam India, a charitable organisation that supposedly fights against inequality in the country, has stirred the hornet’s nest with its outlandish claims about the Goods and Services Tax (GST) collection. In its report published on Saturday (January 15), Oxfam India claimed that indirect taxes are being taken disproportionately from the poor and the middle class as compared … Read more
Inflation, or “Mehengai,” is a term that often sends shivers down the spine of any economy, especially when it skyrockets. High inflation rates can strain both the pockets and patience of citizens. So, it’s pretty impressive when a leader manages to keep it under wraps. This is the tale of Prime Minister Narendra Modi, whose … Read more
In yet another strong regulatory action, the Reserve Bank of India (RBI) on Wednesday directed private sector bank Kotak Mahindra Bank to cease and desist from onboarding of new customers through its online and mobile banking channels with immediate effect. Additionally, the RBI also ordered the bank to stop issuing any fresh credit card. However, the RBI … Read more
A Ministerial Round Table Conference was held on 24th April, 2024, at the ongoing 26th edition of World Energy Congress in Rotterdam, Netherlands. The Round Table Conference discussed how the COP28 UN Climate Change Conference in Dubai was a game changer. The Ministerial Round Table also discussed energy innovation and collaboration, and implications in managing the evolving … Read more
In another step towards consolidating airline businesses, the Tata group has finalised the merger of Air India and Vistara. Reportedly, Tata group and Singapore Airlines (SIA), the joint owners of Vistara, have agreed to the merger. Tatas may own around 75% of the amalgamated company, with SIA holding the remaining 25% share. Currently, Tatas and SIA hold … Read more
On Wednesday 4th January 2024, personal care brand Mamaearth’s co-founder took to Twitter to respond to rumours that the company’s proposed IPO is highly overvalued. After Mamaearth owner Honasa Consumer filed the Draft Red Herring Prospectus (DRHP) to the market regulator Securities and Exchange Board of India (SEBI) for raising capital through an IPO, it is … Read more
Paytm’s stocks on Thursday saw a sharp downside movement after a block deal that took place where 259,930 shares were sold. The shares were sold at Rs 535.90 worth Rs 13.93 crore. Sources have confirmed that Chinese group Alibaba is behind the block deal, thereby selling about 3.1 per cent of its total equity of … Read more
Recently, Adani Group announced the withdrawal of its fully subscribed FPO. Calling it a morally correct step, Gautam Adani said in a statement that the board took the decision considering the volatility of the market. The money that got locked in the subscribers’ accounts will be released soon via escrow. In the statement, there were several technical terms that … Read more