Axis Bank has announced a hike in its interest rates on fixed deposits of less than ₹2 Cr days after Reserve Bank of India’s monetary policy committee raised repo rate hike by 25 bps to 6.50%. The new rates are in effect as from Saturday, February 11, 2023. What areContinue Reading
PTI | | Posted by Singh Rahul Sunilkumar Gross direct tax collections grew 24 per cent to ₹15.67 lakh crore so far this fiscal, the finance ministry said on Saturday. After adjusting for refunds, the net direct tax collection stood at ₹12.98 lakh crore, a growth of 18.40 per cent.Continue Reading
Reuters | | Posted by Ritu Maria Johny SoftBank Group Corp’s chip technology firm Arm Ltd’s China joint venture laid off 90-95 employees last week to cope with a challenging business outlook this year, according to three sources familiar with the situation. The layoffs come as SoftBank tries to setContinue Reading
Gautam Adani-led Adani Group has hired US-based law firm Wachtell to fight against allegations recently leveled against the conglomerate by short-seller Hindenburg Research, Financial Times reported. According to the British daily news report, the Adani Group has tapped senior lawyers at Wachtell, Lipton, Rosen & Katz to advise it onContinue Reading
According to a report in the Financial Times, Adani Group has hired US law firm Watchell, as the Gautam Adani-founded conglomerate tries to fight back against Hindenburg Research, an American investment research firm that has accused it of manipulating stocks and carrying out ‘the largest con in corporate history.’ AlsoContinue Reading
India is still the fastest-growing major economy and will continue to be so, said finance minister Nirmala Sitharaman during the general discussion on Union Budget 2023-24 in Lok Sabha on Friday. She said the government chose capex route to revive the economy as it has a great multiplier effect. “FiscalContinue Reading
The government will revoke the ban imposed on fintech firms LazyPay and Kissht after representations were made by these companies, a senior official said on Friday. The government last week ordered the blocking of 232 apps operated by overseas entities, including Chinese, for being involved in betting, gambling and unauthorisedContinue Reading
Union finance minister Nirmala Sitharaman on Friday backed the Budget 2023-24 during a general discussion in Lok Sabha and claimed the budget astutely balances the requirement for India’s development imperatives within the limit of fiscal prudence. Sitharaman also hit at “an opposition leader” and the Congress for criticising the UnionContinue Reading
Rajasthan chief minister Ashok Gehlot on Friday presented the state Budget in the Rajasthan Assembly, this after a high drama that ensued after he read out the previous year’s budget. The opposition BJP staged protest after the chief minister read the previous year’s budget for seven minutes before he wasContinue Reading
Top Indian industry leaders Friday pledged billions of dollars in infrastructure and business development in the country’s most populous state even as billionaire Gautam Adani was conspicuous by his absence at the event that he’s attended in the past. Also read: ‘Don’t waste time sending…’: Mahua Moitra’s fresh salvo atContinue Reading