Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
Eying benefits from digital banking, lenders are now looking at building Unified Recovery Interface (URI) for enhancing efficiency, reducing costs, and getting good prices for properties of defaulters. This would be managed by PSB Alliance Ltd, a company set up by all public sector banks in the country. M V Rao, chairman, Indian Banks' Association (IBA), said: "Till now we had Unified Payments Interface (UPI), a product developed by National Payments Corporation Ltd (NPCI).
The London Chamber of Commerce and Industry plans setting up of 250 centres of learning and resource centres in Gujarat.
Proliferation of home chargers of around 7 KWh and above, which take six to seven hours to fully charge a car depending on the model, bring running costs down by a third or so. That, coupled with the increasing range of modern electric cars, can lead to a massive increase in sales.
'One of the aspects for transparency and fair governance is to give the industry being represented the chance of lobbying with the regulator.'
Ecommerce firms will have it tough as govt turns down FDI proposal.
Wholesale inflation fell to a 3-month low of 2.04 per cent in July on decline in prices of food items especially vegetables, government data released on Wednesday showed. The decline in wholesale price index (WPI) based inflation in July came after it rose for four months in a row till June, when it was 3.36 per cent. It was (-) 1.23 per cent in July last year. In April wholesale inflation stood at 1.19 per cent.
US Commerce Secretary has appointed Purnima Voria to a new National Advisory Council
State-run Life Insurance Corporation of India (LIC) has committed Rs 600 crore for its digital transformation journey, Sunder Krishnan, chief risk officer said on Wednesday. The insurance giant is also aiming to become completely "paperless" in two years. "We have hired a large system integrator for more than Rs 400 crore, a consultant for digital transformation for Rs 100 crore, and Rs 100 crore for agency transformation.
'What stood out at these meetings between industry representatives and government leaders was how the equation between the ministers and industry had undergone a subtle and qualitative change,' points out A K Bhattacharya.
The 49-year-old entrepreneur oversees the media and real estate arm of Dempo Industries as its executive director.
Subhash Dandekar, chairman emeritus of Kokuyo Camlin and the man known for bringing colours to artists as well as students in the country, passed away on Monday at 85.
The Bilateral Aviation Safety Agreement, the civil nuclear technology transfer, telecom infrastructure security and business jet landing rights are among other "policy accomplishments in 2011" listed on the US chamber's website.
India Inc on Tuesday expressed deep reservations over the supplier liability provision -- the contentious Clause 17(b) -- in the Civil Liability for Nuclear Damages Bill, 2010, saying it would seriously hinder nuclear commerce.
Following the disengagement, both sides will soon start the coordinated patrolling in their respective areas, sources added.
India's merchandise exports in April 2024 marginally rose to $34.99 billion from $34.62 billion in the year-ago month, according to government data released on Wednesday. Imports too increased to $54.09 billion from $49.06 billion in April 2023.
Leading industry and export chambers like PHDCCI and Federation of Indian Export Organisation on Tuesday demanded 1.0 per cent cut in bank rate and cheaper export finance in Reserve Bank of India's' forthcoming busy season credit policy.
'The overwhelming evidence from various studies and reports indicates that the current work culture in the IT sector, characterised by excessive hours, has severe consequences for health, productivity, and overall quality of life.'
Hema Malini is a rare Bharatiya Janata Party star politician who has been asked to contest the 2024 Lok Sabha election for a third time.
The government has decided to set up a joint venture company with industry body Ficci for encouraging investment in the country."The Invest India company, a joint venture between the department of industrial policy and promotion and Ficci, would be funded by the government and managed by the chamber," commerce and industry Minister Kamal Nath said
The wholesale inflation rose to a 13-month high of 1.26 per cent in April fuelled by rising prices of food articles, especially vegetables, amid expectations of RBI holding interest rates in the policy review next month. The wholesale price index (WPI) based inflation has been rising for two months in a row.
Business chamber Assocham has asked the government to accord industry status to organised retail sector, which would improve investment inflows into the sector and increase its share in this segment. The move would increase the share of organised retail in the overall sector to 20-22 per cent from the current 3 per cent, Assocham said.
Affirmative action here refers to direct efforts to ameliorate the educational and employment situation for Scheduled Castes, Scheduled Tribes and Other Backward Classes.
The chamber has sought clarity from government to remove uncertainty among businesses
Sources within the Congress, including those who have been members of the teams that drafted its 2019 and 2024 Lok Sabha poll manifestos, said the Karnataka government decision lacked any empirical basis.
Industry chambers on Thursday said all soft drink manufacturers must adhere to international norms, while criticising the government for going slow in implementing stringent rules.
Karnataka High Court has set aside the conviction of Jayalalithaa.
This is despite a Federation of Indian Chambers of Commerce and Industry survey showing more players were optimistic on a recovery in manufacturing in the last quarter of 2011-12.
'Bilateral trade has suffered seriously because of the growing unrest.' 'There is a standstill on both sides amid the curfew.'
Thrust on infrastructure and capital expenditure is expected to continue in the Union Budget for FY25.
Taiwan is keen to collaborate with India and help it become a leader in the semiconductor space, Jason Ho, chairman of the Taiwan Chamber of Commerce in India, said, asserting that the Taiwanese companies have the supply chain for things that the Indian market needs. Manufacturing semiconductors - used in electric and hybrid cars, drones, and communication devices - is fairly complicated, entails huge investment, and can be a cumbersome process.
Government has proposed to make bribery in private sector a criminal offence.
As Chandigarh braces for a fierce contest between Congress candidate Manish Tewari and the BJP's Sanjay Tandon, its industry leaders harbour a fervent wish: Replicate the success of the National Capital Region model in this Union Territory.
Wants all services included in tax, with a negative list.
Afghanistan is ripe and ready for more investments from India and offers a lot of opportunities.
Captains of the industry, particulary the outgoing chairman of Federation of Indian Chambers of Commerce of Industry Harsh Pati Singhania, who is also the managing director of JK Paper Mill, hailed the Union Budget.
The CPI-M leader was the chief minister of the state from 2000 to 2011.
The Bangalore Chamber of Industry and Commerce (BCIC), which represents the medium and large industries in the state, has urged the Karnataka government to come out with a state-specific relief package for the industrial sector including announcement of a one-year interest free loan scheme to industries.
With concern on food inflation ebbing with the monsoon progressing well, the Reserve Bank of India (RBI) is warming up to the idea of a change in stance to "neutral" from "withdrawal of accommodation", according to economists. In his speech on Thursday during the annual event of the Federation of Indian Chambers of Commerce and Industry-Indian Banks' Association, RBI Governor Shaktikanta Das said: "The balance between inflation and growth is well-poised."
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