The controversial Office of Profit Bill, returned by the President for reconsideration, was on Thursday passed by Rajya Sabha.
'Focus will be on smaller loan amounts to meet the needs of affordable homebuyers.'
The BJP has said it wants to spread awarness on this issue.
The bottom lines of several private sector banks have taken a hit following the recent guidelines released by the Reserve Bank of India (RBI) on alternate investment fund (AIF) investments. Last month, the RBI announced that regulated entities, such as banks, non-bank lenders, and home financiers, cannot invest in AIFs that have directly or indirectly invested in companies that have borrowed money from the lenders. In case an entity had already made such an investment, they must liquidate the investment or make 100 per cent provision, RBI had said.
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
Official sources said no decision had been taken by Kalam so far
The $22.8 billion CK Hutchison ports deal intensifies geopolitical tensions between the US and China. Chinese media has already called it 'a betrayal of all Chinese people'. Shyam G Menon explains how the proposed sale will reshapes global trade infrastructure.
After registering a net profit of Rs 25.1 crore in Q3FY25 and consolidated revenues growing by 7 per cent on a like-for-like basis, Siddharth Mittal, chief executive officer (CEO) and managing director, Biocon, told Sohini Das/Business Standard in a virtual interaction that local manufacturing in the US is a trade off between cost and qualifying to do business there.
The Election Commission has exonerated 12 legislators belonging to the ruling Mizo National Front on the issue of holding offices of profit.
SBI Mutual Fund recently launched the SBI Quant Fund. Its new fund offer (NFO) opened on December 4, 2024, and will close on December 18, 2024. Currently, 11 fund houses manage quant funds with assets worth Rs 9,013.6 crore.
The motion has already been approved by the Lok Sabha.
Prime Minister Manmohan Singh had said earlier that the Cabinet would take a decision on the issue in a day or two.
Referring to the 27 per cent quota for OBCs in elite educational institutions, Kalam said this could be tackled by increasing seats in medical and management colleges.
'Can we give young India the tools to solve the problems the country or society faces and uplift the community?'
'The steel industry expects the government to decide on safeguard measures from dumping post-Budget'
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
'As we navigate uncertain waters, a conservative approach to largecap investing could provide a strategic advantage.'
Sally Holkar left America and made India her home nearly 60 years ago. She went on a mission to revive a dying craft and changed the lives of rural weavers.
Prior to the Cabinet meeting, Gandhi had a meeting with senior Congress leaders at her residence amidst reports that she was averse to inclusion of NAC Chairmanship in the proposed law.
PVR-Inox is in an inherently fickle business. If there is a string of flops, the box office collections will be weak. Conversely, Q2FY24, which witnessed several hits, has brought about an upside in revenues. However, the merger has led to market share gains and synergies that helped bring breakeven down to approximately 20 per cent occupancy.
Much of the discussion is happening at a "family level, not a corporate level". That means it is an Ambani or a Goenka in direct talks with Johar.
The top court asked the state government to spell out details of its actions taken against the culprits and the encroachers.
IT services major HCL Technologies (HCLTech) on Monday reported a 10.51 per cent increase in consolidated net profit to Rs 4,235 crore in July-September quarter of FY25, as the company raised the lower band of its growth guidance on the back of better-than-expected performance. The Noida-headquartered firm had posted a net profit of Rs 3,832 crore in the year-ago period. HCLTech increased the lower band of its revenue growth guidance to 3.5-5 per cent year-on-year in constant currency, against a guidance of 3-5 per cent in the first quarter.
India's fast-moving consumer goods (FMCG) sector grew 5.7 per cent by value and 4.1 per cent by volume in the July-September quarter driven by rural demand, consumer intelligence firm NielsenIQ said in its quarterly update on Thursday. Price-led growth stood at 1.5 per cent. According to NielsenIQ data, rural volume growth outpaced urban markets for the third straight quarter despite consumption softening in both regions.
In the ongoing saga of senior management resignations, Wipro announced on Monday that its chief technology officer (CTO) Subha Tatavarti has resigned. Her resignation will be effective from August 16, 2024. In a regulatory filing, the company said: "Subha Tatavarti, CTO, resigned from the services of the company to pursue opportunities outside Wipro."
'Domestic investors are opening up to the idea of high-growth Internet companies as a pool of value creation.' 'They like the execution that they see with Zepto, and for us, that is the most important factor.'
Food delivery app Swiggy on Wednesday launched a Rs 11,330-crore initial share sale, asking investors to take a pie of Indian middle class' rising propensity of online ordering. The company, which is present in over 650 cities and towns of the country, is launching the initial public offering (IPO) amid heightened concerns on urban demand slump, and the management stressed that it is unaffected by the broader trends in the economy. "We are also reading about it, but we are not seeing that yet in the business... So far, we have not seen the impact of demand on our business," its chief financial officer Rahul Bothra said.
With crude palm oil prices on the rise, companies have started to jack up rates of soaps and edible oils in order to pass on the hike to consumers. Crude palm oil, one of the main ingredients in the manufacture of some consumer goods, saw a price rise of 45.2 per cent in the last three months. One of the country's largest consumer companies, Hindustan Unilever, said it has already started to take price increases in the skin cleansing category.
Rejecting P A Sangma's claim and objection, the government on Monday said that the United Progressive Alliance nominee Pranab Mukherjee resigned as the chairman of the Indian Statistical Institute a week before he filed his nomination in the President's election and does not not hold any office of profit.
'We give them problems so that they can come up with solutions using the technological skills they have learnt.' 'In fact, changemaking and problem solving are interchangeable, in a way.'
A P J Abdul Kalam, who became the first President to return a bill to the Parliament, has said that his decision to send back the legislation on Office of Profit was to convey his personal opposition. Kalam, who demitted office in July, said he was aware that it was the first time in the history of the Parliamentary system that a bill was being sent back and contended that he had to do it.
PVR Inox shares hit a 44-month low of Rs 1,154, declining 8 per cent on the BSE in Tuesday's intra-day trade in an otherwise firm market, driven by growth concerns. The stock has slipped 23 per cent from its December high of Rs 1,620, touched on December 5, 2024. It has fallen below its previous low of Rs 1,203.7 from June 4, 2024, and is trading at its lowest level since May 2021.
Despite gross domestic product (GDP) growth being lower-than-expected for the July-September quarter, the six-member Monetary Policy Committee (MPC) may not cut the policy repo rate in the review meeting scheduled for next week due to high inflation in October, according to experts. "Consumer Price Index (CPI) inflation breaching the upper limit of the RBI's tolerance band in October (6.2 per cent year-on-year) is not a favourable backdrop for the MPC to commence the easing cycle, even as the growth outcome disappointed the MPC's expectations," said Shreya Sodhani, regional economist at Barclays, who expects the policy repo rate to be kept unchanged in the December meeting.
An Indian-origin PhD student at MIT, Prahlad Iyengar, has been suspended until January 2026 for his pro-Palestinian activism. The suspension effectively ends his NSF fellowship and disrupts his academic career. Iyengar is appealing the decision, arguing that it is a violation of free speech and a result of MIT's ties to the war industry. The suspension comes after MIT banned the distribution of a pro-Palestinian student-run magazine, "Written Revolution", which featured Iyengar's article "On Pacifism." The article included imagery and language that MIT deemed could be interpreted as a call for violent protest. Iyengar has been barred from campus and is facing a series of sanctions for his activism.
'Market corrections are a natural part of investing, so it's essential to remain focused on long-term financial goals.'
The Supreme Court on Wednesday sought to know the stand of the Centre referring a petition, challenging the constitutional validity of the amendment to the law on the Office of Profit, to a Constitution Bench.
Why is Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, not worried about the competition?
Industry experts believe that this deal will positively impact the Indian film industry, which is struggling with fewer movie releases.
Members have to discharge various public responsibilities by holding such positions," the party Polit Bureau said in a statement.
