Light
Dark
The rupee on Friday slipped 1 paisa to close at its all-time low of 78.33 (provisional) against the US dollar. On a volatile trade day, the rupee started on Friday with gains but ended at its record low, marking the third day in a row of lifetime-low close. During the day, the currency witnessed an […]
Cooperation Minister Amit Shah yesterday said that cooperative banks should adopt modern technology and transparent banking methods to stay in the competition. He said that the role of these banks in India is immense as they can give loans to the smallest section of society for its upliftment. However, currently, the contribution of urban cooperative […]
Sonia Gandhi, the acting head of the Congress, asked on Wednesday to have her appearance before the Enforcement Directorate (ED) postponed “by a few weeks” until she had fully recovered from a lung illness and the COVID-19 virus. Sources claim that ED has granted her written plea for postponement of the summons in the National […]
The head of the Federal Reserve, Jerome Powell, has declared that US recession is “definitely a possibility” and cautioned that preventing one would primarily depend on circumstances beyond the Federal Reserve’s control. In his testimony to the Senate Banking Committee, the Fed chair acknowledged it was now harder for the central bank to control surging […]
The rupee fell to a new record low against the dollar on Wednesday as concerns about a global recession reemerged. This happened just two days after a member of the US Federal Reserve downplayed the chance of a severe and imminent economic downturn in the world’s largest economy. According to market sources, the Reserve Bank […]
CBI has booked Kapil Wadhawan and Dheeraj Wadhawan of Dewan Housing Finance Corporation Ltd (DHFL) in a fresh case for alleged fraud worth Rs34,615 crore that involves 17 banks led by the Union Bank of India. The value of the scam makes this case the biggest that the agency has probed. The CBI has accused […]
Nexus Malls announced their partnership with Jio-BP, a fuel and mobility joint venture between BP and Reliance Industries Limited (RIL), for the deployment of cutting-edge EV charging stations and battery swapping stations across their portfolio of 17 malls in 13 cities. In addition to building and launching two of India’s largest EV charging hubs last […]
Around 1000 resident doctors, who are Postgraduate students as well, have abandoned their medical services and are protesting against the health department officials at the Porsche of BJ Medical College since June 15. These doctors from Civil hospital and BJ Medical College have completed their MD and MS courses. Through this protests, the doctors are demanding that the health […]
Coal India, earlier this month, invited bids for three e-tenders in order to import coal. Now, at least 11 coal importers have expressed interest in bidding for these tenders. This includes a short-term indent-based international competitive bid for 2.416 million tonnes (MTs) of coal and two more medium-term tenders for sourcing 3 MT each. The […]
Network intelligence and connectivity insights provider Ookla recently said that in May 2022, India jumped three places to stand at 115 in Speedtest Global Index rankings for mobile internet. As for fixed broadband, India ranked 75 as compared to 76 in April. India recorded 14.28 Mbps median mobile download speeds in the month, up from […]
On Saturday, the CII’s Indian Women Network (IWN) Gujarat launched its Western Gujarat Chapter in Rajkot. The event was attended by Mayor Pradeep Dav, Deputy Mayor Dr. Darshitaben Shah, Commissioner Rajkot Amit Arora, DDO Shri, Dev Chaudhari, and Ex-Mayor Binaben Acharya. The network was founded in 2013 and now has over 800 members spread across […]
In May, Telecom Regulatory Authority of India (TRAI) published that number of active subscribers had dropped significantly in April as compared to the previous year. According to the data, in the month of April alone nearly 7.5 million subscribers disconnected from the networks. The available data shows that Airtel and Vodafone Idea made up 90% of […]
The entry of the Adani Group has fundamentally changed the structure of the cement sector. Building material companies were faced with enormous debt on their balance sheets following the global financial crisis. Their subsidiaries, including those in India, had only one goal: to pay out big dividends that the parent corporations could use to pay […]
Mukesh Ambani’s group eventually dropped its pursuit of the television broadcast rights to India’s top cricket league, which Walt Disney Co. had secured for $3 billion because the Indian conglomerate saw limited long-term profit potential from the legacy platform. According to a person familiar with the group’s strategy, the joint venture between Ambani’s Reliance Industries […]
Economist Kaushik Basu has pointed out two key factors that would be crucial for a country like India to emerge as an economic power. He says that first and foremost is to focus on developing creative education and health sectors, while the second is to move away from hyper-nationalism. The former Chief Economist of the […]
Union Communication Minister Ashwini Vaishnaw announced on Thursday that UPI and Rupay card services will be available in France soon, providing a significant boost to the Unified Payments Interface (UPI) and Rupay cards. According to reports, the National Payments Corporation of India’s (NPCI) international arm has signed an MoU with the Lyra Network of France […]
The cryptocurrency sell-off has gotten so bad in recent weeks that simply referring to it as a “crash” no longer suffices. Instead, as Binance CEO Changpeng Zhao tweeted early Wednesday morning, “it’s a bloodbath out there.” The total market cap of all cryptocurrencies has fallen by more than $2 trillion since the peak last fall, […]
After a review of the ‘status of human resources in all departments and ministries’, Prime Minister Narendra Modi’s office tweeted that the government will undertake the recruitment of 10 lakh people in mission mode, in the next 1.5 years. Massive Employment at this point? What could be the cause? The government has been slow on […]
Sustainalytics has classified Adani Transmission Limited’s (ATL) USD 700 million revolving facility as a green loan. ATL is India’s largest private sector power transmission and distribution company. This tag by Sustainalytics provides security for the revolving facility’s green loan framework. This is major as it is first of its kind certification of green loan in […]
Chief Economic Adviser (CEA) V. Anantha Nageswaran today said that India is on its way to becoming a US $5 trillion economy by 2026-27 and might even reach $10 trillion by the end of the next ten years. He insisted that with India currently at $3.3 trillion, achieving $5 trillion will not be a difficult […]
