In a sign of the expanding Apple supplier ecosystem in India, American multinational Jabil Inc will set up an electronics manufacturing facility in Tiruchirappalli, Tamil Nadu with an investment of Rs 2,000 crore. Jabil is one of the 14 Apple suppliers in India, of around 200 globally, while another 14 have reportedly received preliminary clearance to form joint ventures with Indian companies to set up facilities. Interestingly, of the 14 existing manufacturing units in the Apple supply chain, seven are already in Tamil Nadu.
Finance Minister Nirmala Sitharaman on Tuesday announced the doubling of the upper limit of Mudra loans to Rs 20 lakh to promote entrepreneurship in the country. "The limit of Mudra loans will be enhanced to Rs 20 lakh from the current Rs 10 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the 'Tarun category', she said while presenting the Budget in the Lok Sabha.
The National Policy on Urban Street Vendors, 2009, approved by the UPA government, recognises street vendors (or micro-entrepreneurs) as an integral and legitimate part of the urban retail trade and distribution system.
Logistics major Delhivery has had promising Q2FY25 results. The Q2FY25 consolidated revenue was Rs 2,190 crore (up 0.8 per cent quarter-on-quarter or Q-o-Q and 12.8 per cent year-on-year or Y-o-Y). Express parcel revenue was Rs 1,300 crore, (up 1.7 per cent Q-o-Q/7.3 per cent Y-o-Y) alongside better yield (+5 per cent Y-o-Y) in the segment.
The Mumbai police have issued a notice to a teenage boy, his father and another person from Rajnandgaon in Chhattisgarh to join questioning in connection with bomb threats posted on social media targeting three flights, officials said.
The government will come out with a credit guarantee scheme for MSMEs to facilitate term loans without collateral or third party guarantee, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting her seventh straight Union Budget, she also said that public sector banks to build in-house capability for credit assessment of MSMEs.
Citadel: Honey Bunny is a decent watch with an average story, sharp stunts and brilliant music, observes Divya Nair.
Expansion of its development portfolio, brokerage upgrades, and strong outlook have led to a 15 per cent gain for the stock of real estate major Godrej Properties (GPL) in six trading sessions. The company recently acquired a 53-acre land parcel in Joka, Kolkata with an estimated development potential of 1.3 million square feet of saleable area with an estimated revenue potential of Rs 500 crore.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
The massive victory of Bharatiya Janata Party-led Mahayuti in Maharashtra indicates a tactical course correction post the Lok Sabha debacle, with factors like Rashtriya Swayamsevak Sangh's active role in the poll campaign, Ladki Bahin scheme, rise in women voting, and subtle message of Hindutva playing a crucial role.
'Maharashtra is virtually in a debt trap.'
For Yogi Adityanath the successful management of the fair is a crucial part of building 'Brand UP' and making the state a $1 trillion economy.
'Banks may find small ticket size lending economically unviable due to the cost of branch operations.'
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers. These four entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance, which provides personal, consumption, and micro, small and medium enterprises loans, and Flipkart co-founder Sachin Bansal's Navi Finserv, which offers home and personal loans. The ban will take effect on October 21 to "facilitate closure of transactions in the pipeline", the regulator said in a statement.
Only investors with knowledge of cryptocurrencies, long-term conviction, and a long horizon should invest in this asset class.
A Rs 525-crore contingency provision during the July-September period led to a 19 per cent fall in IndusInd Bank's share price on Friday (October 25). Contingency provisions are generally made when a lender expects more bad loans in the coming quarters. Shares of the bank on Tuesday (October 29) declined 1.53 per cent to settle at Rs 1,038.2 apiece on the BSE.
Bain Capital-backed Tyger Capital is planning to list its shares on the Indian stock exchanges by the next financial year and is targeting to grow its assets under management by four times to Rs 20,000 crore in five years from Rs 5,000 crore now, Gaurav Gupta, MD and CEO of the firm said. In an exclusive interview, Gupta said that keeping with the growing business, the finance company expects to on-board 600 people in the current financial year as it is opening 60-65 new branches for broad-basing its network in the country.
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
Micro-cap stocks are in the line of fire as market regulator Securities and Exchange Board of India (Sebi) is tightening its noose around investment in small-cap stocks. Given this, analysts suggest investors exit the segment, at least, for the time being. Independent market analyst, Ambareesh Baliga, for instance, said that regulators have gotten worried on the valuation front, though belated, which could prove to be the last straw on the camel's back.
With the earnings season drawing to a close, stock markets will take cues from global trends and foreign investors' trading activity this week, analysts said. The US FOMC (Federal Open Market Committee) minutes will be the major highlight this week, experts said. "This week, there are fewer cues on the macro and micro fronts, as the Q1 earnings season has concluded.
Nibe Space (NSPL), a subsidiary of Nibe, announced its vision to establish India's first multi-sensor, all-weather, high-revisit Earth observation satellite constellation. Aiming to strengthen India's self-reliance in the strategically crucial defence-space sector, NSPL signed memoranda of agreement with Indian and global partners, including Larsen & Toubro, Centum, AgniKul, Skyroot Aerospace, SpaceFields, SISIR Radar, CYRAN AI Solutions, and Thales Alenia Space as a technology partner.
Sree Annapoorna Sree Gowri Shankar is a familiar name across the country. With over 1,500 employees, it is renowned for its filter coffee and Keerai Vada throughout Tamil Nadu. Its operating revenues range from Rs 100 crore to Rs 500 crore.
In a review meeting through video conference with chief ministers and representatives of seven states with a high burden of COVID-19 cases, Modi said having micro containment zones will help states in dealing with the spread of the infection and also allow normal activities to continue.
Rise in raids on illicit drug manufacturing units, alongside arrests for the production, sale, or distribution of spurious or adulterated drugs.
Commercial banks have turned cautious in lending to smaller microfinance institutions (MFIs), which has compelled the latter to borrow from non-banking financial companies (NBFCs) at much higher rates. Recently Reserve Bank of India (RBI) Deputy Governor M Rajeshwar Rao slammed micro lenders for increasing their margins "disproportionately" and said these lenders were quick to pass on the increased cost to the borrowers but reluctant to pass on the benefits under the new regime, where margins are not capped.
'Have a long way to go even as a small finance bank, both in terms of size, and in terms of fulfilling our aspirations for financial inclusion.'
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
The White House readout of the call had no reference to Bangladesh, which was mentioned in an 'X' post by PM Modi.
The requirement of one million units would entail a huge market for firms such as HCL Infosystems, Geodesic, VeriFone, Visiontek and others manufacturing micro-ATMs.
'Filing a workplace harassment case against a well-known company or professional can bring risks like retaliation, harm to your career and emotional stress,' warns Smita Shetty Kapoor.
Hitting back at the Election Commission after it dismissed allegations about slowing down the updating of Haryana election results, the Congress on Tuesday said the poll watchdog's reply degrades the conversational level to an 'unacceptable low' and 'misrepresents crucial facts' in a vein similar to that done by the Bharatiya Janata Party.
You sense a presence behind you, and in a feeble attempt to look busy your fingers fumble, hitting random keys. You might just be a victim of micro-management.
Kiran Bhatt, a cosmetologist with a PhD in nutrition, explains how poor hygiene and lifestyle can impact your skin's health causing infections.
Fresh plans of privatisation or divestment in central public sector enterprises and public sector banks might take a back seat this financial year because these may require a large consensus among coalition partners.
Four national winners were: Ajambar Soi from Jharkhand, Sonaliben Rajebhai Parmar from Gujarat, Shahida Begum from Uttar Pradesh, and P J Varghese from Kerala. Each received a cash prize of Rs 2 lakh (Rs 200,000).
'Unlike in the sporting arena, where sports federations moved from partisan to impartial referees, in Indian democracy's biggest festival, it appears we are moving backward from unbiased and objective to one-sided and partisan,' observes Nilanjan Mukhopadhyay.
Ratan Tata: A Life, the much awaited biography, reveals that after a year of 'parallel running', Tata began having second thoughts about Cyrus Mistry's 'suitability'. 'Mistry targeted Ratan, the man who had elevated him from virtual oblivion into the mainstream of the Tatas...'
The Andhra ordinance and SKS IPO have abruptly changed the industry's prospects
Cholamandalam Investment and Finance's (Chola) share has yielded one of the best returns in the last month. The company has sustained assets under management (AUM) growth at 7 per cent quarter-on-quarter (Q-o-Q), and 35 per cent year-on-year (Y-o-Y) in Q1FY25. Scaling up of new businesses now contributes to 13 per cent of loans (vs 10 per cent in Q1FY24).
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