State-owned Power Finance Corporation (PFC) on Friday said it has secured the largest-ever foreign currency term loan of $1.265 billion from banks in IFSC GIFT City, Gandhinagar. The loan, at an average rate of 4.21 per cent per annum, will be used to finance non-thermal generation projects, promoting green energy transition, said PFC, a Maharatna … Read more
As the government focuses on GST 2.0 which further eases tax laws, enhance tax simplification and adoption of technology, the ministerial panel tasked to rationalise rates is deliberating on lowering GST on essential items like health insurance and tractors up to 5 per cent. As tractor segment volumes saw marginal growth (year-on-year) in September, a … Read more
The escalating tensions in the Middle East region have added volatility to global markets, including Indian indices, especially with crude oil prices rising by over 5 per cent in the past two days, market watchers said on Friday, advising investors to stay calm as the situation is likely to improve soon. It has been … Read more
Despite geo-political uncertainties, the investors' confidence remained intact in India's growth story as the country's foreign exchange reserves surpassed $700 billion for the first time, reaching $704.89 billion in the week ending September 27, the Reserve Bank of India (RBI) data showed on Friday. The forex surged $12.59 billion, which is the largest weekly rise … Read more
Contrary to the claims of “jobless growth,” the latest government data shows that employment in India increased by 36 per cent (17 million jobs) between 2016-17 and 2022-23. During the same period, the gross domestic product (GDP) grew at an average rate of over 6.5 per cent. Employment data from the Reserve Bank of India's … Read more
Recycling electric vehicle (EV) batteries is a geopolitical and climate imperative and Indian and European startups in the field are pioneering innovation and fostering business collaboration, according to the government. Emphasising the shared commitment of India and the EU to innovation, sustainability, and the transition to a circular economy, the Office of the Principal Scientific … Read more
Gold prices continue to rise amid heightened tension in the Middle East, as the precious metal saw a definitive surge this week. The Iran-Israel conflict has kept buyers position intact even after prices were overbought. Gold prices experienced a minor increase on Saturday as the cost of 24 carat gold was Rs 7,785.3 per gram … Read more
As foreign institutional investors (FIIs) turn sellers in the Indian market, long-term domestic investors may utilise this opportunity to buy high-quality banking stocks, market analysts said on Saturday. The FIIs sold equities worth Rs 15,243 crore on October 3, while domestic institutional investors (DIIs) bought equities worth Rs 12,914 crore on the same day. Geopolitical … Read more
About 21 startups in India raised nearly $93 million in funding across 16 deals this week, which included four growth-stage deals and 12 early-stage fundings. It is a big drop from nearly $461 million raised by 29 domestic startups last week, which included 10 growth-stage deals. This week, agriculture supply chain startup Waycool raised Rs … Read more
To boost India’s position in the field of sustainable development and renewable energy, Union Minister of New and Renewable Energy, Pralhad Joshi, will embark on a three-day tour to Germany from October 6, the government said on Saturday. The minister is set to attend the ‘Hamburg Sustainability Conference’ from October 7-8, and will hold a … Read more