NEW DELHI: Amid the conflict in West Asia, output in India’s eight core infrastructure industries inched up to 1.7% in April from the upwardly revised 1.2% in March, latest official data released Wednesday showed. Notably, as many as four industries linked to energy sector and the fertiliser industry registered a decline in output during the…
MUMBAI: Mobile phone financiers will face restrictions on “mobile lock” practices under RBI’s amended rules for loan recovery. Under the reworked draft regulation, lenders can restrict financed devices only under explicit contractual consent and after a 90-day default cycle with a staged 60-day and 7-day notice regime, while mandating that core functions such as incoming…
India’s eight core infrastructure sectors recorded a two-month high growth of 1.7 per cent in April, supported by higher output in steel, cement and electricity, according to government data released on Wednesday, PTI reported.The core sector had expanded by 1 per cent in April last year, while growth stood at 1.2 per cent in March…
Mumbai: Bajaj General Insurance has launched health insurance riders that enable buyers to widen the scope of their basic health plan. The `Age shield’ rider enables buyers of health insurance to ensure that the premium escalation with age will not happen unless there is a claim. The policy is aimed at addressing the complaint of…
Employees’ Provident Fund Organisation (EPFO) subscribers will soon be able to withdraw provident fund money directly through the Unified Payments Interface (UPI), with testing of the facility already completed, Labour Minister Mansukh Mandaviya said on Tuesday. The move is part of a broader push by EPFO to improve service delivery and simplify access for over…
The rupee fell to a fresh record low on Wednesday as elevated oil prices and rising US Treasury yields weighed on investor sentiment, while concerns over prolonged geopolitical tensions and potential global rate hikes continued to pressure emerging market currencies, Reuters reported.The domestic currency touched an all-time low of 96.96 against the US dollar during…
Milk prices in Kerala will go up by Rs 4 per litre from June 1 after dairy cooperative major Milma approved a price revision citing rising production, procurement and distribution costs amid mounting pressure on farmers.The decision was taken at a meeting of the Board of Directors of the Kerala Cooperative Milk Marketing Federation (KCMMF),…
US stocks moved higher on Wednesday and edged toward their first gain in four sessions as easing pressure in the bond market and stronger-than-expected corporate earnings supported investor sentiment.The S&P 500 rose 0.3 per cent in early trade, moving closer to the record high reached last week. The Dow Jones Industrial Average slipped 62 points,…
The Reserve Bank of India (RBI) on Tuesday announced a $5 billion USD/INR buy-sell swap auction scheduled for May 26 as part of efforts to inject long-term liquidity into the banking system, PTI reported. The move also comes at a time when the rupee has weakened sharply against the US dollar amid continued global uncertainties….
Toffee became the talk of the town when Prime minister Narendra Modi gifted Melody toffees to Italian counterpart Giorgia Meloni during his Italy. The visit has brought fresh attention to India’s toffees sector with Commerce and Industry minister Piyush Goyal on Wednesday highlighting that the country’s toffee exports have climbed 166 per cent over the…
