The National Pension System (NPS) added 21.5 per cent fewer fresh subscribers under the corporate segment in 2023 compared to the preceding year. Government officials and experts attribute it to the higher exemption limit of income tax of Rs 7 lakh announced in the FY24 Budget that no more requires employees under this income bracket to opt for NPS for tax-saving purposes. Data collated from the Ministry of Statistics and Programme Implementation (MoSPI) reveals that the corporate component is voluntary in nature and saw 158,212 new subscribers in 2023 compared to 201,517 during 2022.
It is to be seen if SBI under Setty, who will have a three-year term, can ride the economic cycle to take SBI to new heights, navigating some of these challenges.
UltraTech Cement's announcement that it would snap up a controlling stake in India Cements may only be a sign of more to come. In the wake of one of the country's most expensive deals in recent times, cement majors may slug it out to add smaller firms from the region to their portfolio. UltraTech's buy is the latest in the four deals the southern market has seen in less than a year, with Adani Cement being the other buyer.
Net household savings declined sharply by Rs 9 lakh crore to Rs 14.16 lakh crore in three years to 2022-23, according to the latest National Account Statistics 2024 of the Ministry of Statistics and Programme Implementation. The net household savings peaked at Rs 23.29 lakh crore in 2020-21.
Sebi has imposed a penalty totalling Rs 44 crore on 18 entities, including the National Stock Exchange, its business development officer Ravi Varanasi, former MD and CEO Chitra Ramkrishna and her adviser Subramanian Anand along with certain stock brokers in the 'dark fibre' case.
It was a dull weekend at the box office.
The action is based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, RBI said.
UltraTech Cement Ltd on Monday reported a 35.24 per cent increase in consolidated net profit at Rs 2,258.58 crore for the fourth quarter ended March 31, 2024. The leading cement maker had posted a consolidated net profit of Rs 1,670.10 crore in the January-March quarter of the last fiscal, according to a regulatory filing from UltraTech. Its revenue from operations rose 9.41 per cent to Rs 20,418.94 crore during the period under review.
A leading industry chamber on Wednesday said it estimated the three-day shutdown by traders in the national capital to have cost Rs 7,000 crore (Rs 70 billion) in terms of business loss.
Buying a phone on a low budget comes with the risk of buying a dud. So here is our list of phones that you will be happy buying.
For Rajkummar Rao, this is turning out to be a winning season as he has scored another winner in quick time after Srikanth.
Prime Minister Narendra Modi on Sunday pleaded with a child at a tribal rally to stop waving at him so that his arm doesn't ache.
The ruling BJP's income forms 76.73 percent of the total income of the six national parties during FY 2022-23, it said.
Long-term macro trends indicate growth in demand for air travel. Trends from the ticketing website MakeMyTrip indicate a likely annual growth of between 11-17 per cent in Indian air travel demand over FY24-30. Through that period, InterGlobe Aviation or IndiGo may continue to make gains in market share in both domestic and international travel, aided by large fleet additions. IndiGo is the largest global customer of Airbus by far with 950 aircraft orders outstanding.
State Bank of India, NTPC, Nestle, Sun Pharma, JSW Steel, ITC, Mahindra & Mahindra and HCL Technologies were among the other major gainers.
Amid the Budget preparation, the revenue department is assessing the feasibility of further adjustments to maximise benefits for salaried individuals.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced to raise Rs 7,350 crore from two investors -- Singapore's sovereign wealth fund GIC and Global alternative asset firm TPG -- by selling a stake in group's retail arm.
'While some women allow themselves to be exploited so that they can climb up the ladder, there are many voiceless and silent people who get exploited by men in powerful positions.'
Mutual funds (MFs) scooped up smallcap shares across sectors such as healthcare, banking and financial services in March 2024 amid a near 4.5 per cent fall in key smallcap indices. Aster DM Healthcare, NLC India, and Aavas Financiers topped the list of most-bought stocks in the Rs 10,000-40,000 crore market capitalisation (mcap) bracket, according to a study by Nuvama Alternative & Quantitative Research. Aster and Aavas had corrected by 13 per cent and 10 per cent in March, respectively, while NLC India ended the month with a 2.5 per cent gain.
In a presentation to investors, the company said it has become a key player in all four metros.
IT major Infosys Ltd on Thursday reported a 7 per cent rise in first quarter net profit and raised its growth outlook for the current financial year. The consolidated net profit of Infosys increased to Rs 6,368 crore in the April-June quarter, compared to Rs 5,945 crore in the same period a year back, according to a stock exchange filing by the company.
Financial Intelligence Unit detects over Rs 7,800 cr blackmoney.
'If an individual makes significant financial investments, she should stick to the old regime.' 'If the individual prefers straightforward computation without any tax benefits, the new regime would be suitable.'
With the arrest of Dixit Patel, owner of Jay Jalaram School situated near Godhra in Panchmahal district, the number of persons arrested so far- five of them were held by Gujarat Police- has gone up to six.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'There is no immediate threat to the government, and they would prefer the growth agenda.'
The country's largest private lender HDFC Bank on Saturday reported a 6.51 per cent decline in its consolidated net profit to Rs 16,474.85 crore in the April-June quarter compared to the previous January-March quarter. The city-headquartered lender, which merged its mortgage major parent HDFC into itself in July last year, had reported a net profit of Rs 17,622.38 crore in the March quarter. On a standalone basis, the net profit declined to Rs 16,174.75 crore in April-June 2024-25 from Rs 16,511.85 crore in January-March 2023-24.
This year's tally is the second best ever after 2022 when 16 firms raised Rs 40,311 crore, led by LIC's biggest-ever IPO.
'Mankind's experience, sharpness, and execution will make it happen. We are not going for short-term gains.'
Capital markets are becoming more prominent in India's growth story, with an expanding share in capital formation and investment landscape on the back of technology, innovation and digitisation, according to the Economic Survey 2023-24 tabled in Parliament on Monday. Further, Indian markets are resilient to global geo-political and economic shocks, it added. "Despite heightened geo-political risks, rising interest rates and volatile commodity prices, Indian capital markets have been one of the best performing among emerging markets in FY24," the Economic Survey said.
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
Investors shunned shares of Bajaj Finance on Friday, a day after the non-banking financial company (NBFC) reported a sharp contraction in its net interest margin (NIM) for the March quarter of the financial year 2023-24 (Q4FY24). The losses accounted for a fifth of the benchmark S&P BSE Sensex's 609-point loss. Most brokerages have tamed their earnings expectations for the next couple of quarters, after the management said it expected the pressure on NIMs to continue in the near term.
Reddy, who was an accused in a money-laundering case linked to the alleged liquor scam in Delhi, had turned an approver in the case that is being probed by the Enforcement Directorate (ED). The CBI is yet to file a chargesheet against him.
After producing Darshan and three others before the court, the police stated that they were not making the names of the eyewitnesses public citing their safety.
In May, MFs were the net sellers in several PSUs, as they deployed Rs 47,600 crore in equities during the month.
koda Auto India is set to drive in a new car by the first half of next year to reach its target of 100,000 unit annual sales in the country by 2026. The compact sports utility vehicle (SUV) will be positioned against the likes of Maruti Brezza, Hyundai Venue, and Kia Sonet, and would be competitively priced, a senior company official said. koda will also export the car to right-hand-drive markets like Australia, New Zealand and the Asean nations.
The total allocation to the defence sector is 12.9 per cent of the total budget of the government of India for the financial year 2024-25.
High-end apartments, penthouses, and bungalows boasting amenities like swimming pools, expansive driveways, and premium interiors are becoming highly sought after.
Shahrukh Khan revealed his admiration for South African star David Miller.
Meet Sameer Rizvi, Kumar Kushagra, Shubham Dubey and Robin Minze.
