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The Reserve Bank on Friday superseded the board of the city-based Abhyudaya Cooperative Bank on concerns emanating from "poor governance" and appointed an administrator to manage the affairs of the lender. In what can be seen as a step that should allay depositors' concerns, the central bank did not put any restrictions or moratorium on deposit withdrawals because of the comfort it gets on the bank's finances, according to people in the know. "(The) action is necessitated due to certain material concerns emanating from poor governance standards observed in the bank.
'Many were caught in a burnout race, chasing unsustainable growth without innovating.'
The ideal time to invest in sector funds, is during a downturn so that investors can capitalise on a turnaround in 1.5 to 2 years.
Across the board, brands use influencers like a Bhuvan Bam or Kusha Kapila as the second or third rung of their strategy. The first rung is always a celebrity that has been created outside the Internet, through mainstream media.
Public sector banks (PSBs) have proposed the Finance Ministry their plan to raise Rs 54,800 crore through Additional Tier-1 (AT-1) and Tier-2 bonds in the current financial year (FY25), 37 per cent more than the Rs 39,880 crore raised in FY24
A plea that the banking regulator's stress should be on the strategic role of boards and an increase in the remuneration of independent directors were among the issues put forward to the Reserve Bank of India's (RBI's) top brass in its interaction with the full boards of state-run banks held on Monday. The meeting, the first leg of first-of-its-kind interactions with the boards of state-run banks, will now be followed by those of private banks in Mumbai on May 29. The RBI's press release, issued late on Monday, did not refer to the specific points that found mention in the deliberations, but top sources told Business Standard the twin concerns were taken up in the open-house interaction with the banking regulator's brass.
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
High nitrate levels have been found in groundwater of 440 districts across India, with 20 per cent of the samples collected exceeding the permissible nitrate concentration, the Central Ground Water Board (CGWB) has said in a report.
Yousuf, who had been attached with the Pakistan Cricket Board in different roles since last year, was part of a broad-based national selection committee that includes two former Test players, head coaches, captains and an analyst, among others.
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.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Mutual funds (MFs) reinforced their record monthly inflows in October with an investment of Rs 87,000 crore (up to October 29), softening the downside pressure on domestic markets. Their prior record for monthly inflows was Rs 48,139 crore in May. This unprecedented monthly buying partially countered record monthly sales by foreign portfolio investors (FPIs) of Rs 1.1 trillion last month.
'So, we would work with our members to ensure that we as an SRO create some sort of due diligence for fintechs.'
'Shami has been India's best bowler for a while. He may not get the amount of wickets Jasprit Bumrah gets, but he's the full package and is more consistent than the rest.'
Russia's state-owned oil firm Rosneft has agreed to supply up to 500,000 barrels per day (bpd) of crude oil to Indian upstream oil and gas major Reliance Industries (RIL) in the largest-ever energy deal between the two countries, Reuters reported on Thursday. The 10-year agreement amounts to 0.5 per cent of global oil supply and is valued at roughly $13 billion per year at current prices, it said.
A PCB source however told PTI that recent media speculations about Shan Masood and Babar Azam's sacking is nothing more than kite flying.
'It is our duty to keep space sustainable and free of debris.'
In the months immediately following the 2024 tragedy, reporting on the landslide per se had been a straightforward affair. On one side was death and destruction. On the other side, survivors and the business of survival. It was black and white. What direction to take was clear. Rehabilitation in comparison, felt like a complex situation. One that is fraught with shades of grey. As grey as human life, explains Shyam G Menon.
The National Security Strategy document should flag all major issues concerning security strategy and provide guidelines to concerned departments to work out suitable action plans. Since the global and regional geopolitical canvas is dynamic, the NSS document should be deliberated at length before formulation and should be reviewed periodically, recommends Commodore Venugopal Menon (retd).
Clean air needs action all year round; and that it will work only if we act jointly and at scale, asserts Sunita Narain.
The government is formulating guidelines on the use of ethylene oxide (ETO) in samples of spices for the domestic market and exports, people aware of the matter said, as it plans to step up efforts to make quality checks more stringent. ETO, a flammable, colourless gas, is typically used as a disinfectant. It is also used as a sterilising agent and an insecticide to reduce microbial contamination in spices. However, its use is considered carcinogenic, beyond permissible limits.
Countries that raised concerns about the quality of Indian spices have called for urgent attention and action, Delhi-based think tank Global Trade Research Initiative (GTRI) said on Wednesday. The stakes are high since India exported spices worth about $692.5 million to the United States (US), Hong Kong, Singapore, Australia and Maldives in the financial year 2023-24 (FY24), it said. During FY24, India's spice exports were worth $4.25 billion, accounting for a 12 per cent share of the global spice exports.
Goldman Sachs expects gold to reach $3,150 per ounce in the international market by December 2025, up around 19.1 per cent from its current level of $2,645, according to a recent report in Business Standard. Domestically, gold is trading at Rs 76,018 per 10 grams after delivering a remarkable 21.9 per cent return in the past year.
The Financial Intelligence Unit-India (FIU-India), the national agency responsible for analysing suspicious financial transactions, has received requests from four more offshore crypto exchanges to operate in India again, said a senior government official familiar with the matter. In the beginning of 2024, India had banned nine crypto exchanges - Binance, Kucoin, Huobi, Kraken, Gate.io, Bitstamp, MEXC Global, Bittrex, and Bitfenix - for non-compliance with anti-laundering law in the country.
'He will be remembered more for what he did as finance minister -- as someone who functioned well when the political fallout was taken care of.'
'With an achievement like this, Gukesh could even be endorsing global brands.'
'Everything can be resolved, but my husband's legacy is not up for sale.'
The implementation of this toll collection system, which will eventually eradicate toll booths, necessitates the fitting of an on-board unit (OBU) in every vehicle that can track a vehicle's location in real time.
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 specter of how the Munambam issue was exploited during the November by-elections is proof of the price Kerala is paying for its emergent politics. Controversies become the stuff of slow-burn and brinkmanship. The former promises mileage; the latter searches for an advantage, notes Shyam G Menon.
Observing secularism means to 'live and let live', the Supreme Court on Tuesday said regulating madrasas was in the national interest as several hundred years of the nation's composite culture could not be wished away by creating silos for minorities.
All eyes will be on BCCI secretary Jay Shah during the four-day ICC Annual Conference in Colombo, starting on Friday, where there might be serious discussions about when he will take over from New Zealander Greg Barclay as the chairman of the global body.
Sebi's mandate restraining mutual funds, stock brokers, and other intermediaries from associating with finfluencers who do not come under the Sebi ambit will impact the earnings of finfluencers through sponsorships, tie-ups, or referral links, as these may dry up due to the restrictions.
The Union Public Service Commission entrance and Common Admission Test are completely different from each other and require different approaches, says rediffGURU Mayank Chandel.
In FY24, the net income generated from Waqf properties fell to about Rs 1.26 crore from Rs 150 crore in FY20.
The possible instances of front running at Quant Mutual Fund have likely pushed the Securities and Exchange Board of India (Sebi) to expedite the implementation of an institutional mechanism framework designed to curb such market abuses. This framework, approved by the Sebi board in April, was slated to take effect six months after its notification. But, recent developments have set the wheels of regulation turning faster.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Many are attracted by the potential for large gains, but don't necessarily seem to understand that a single trade gone wrong can wipe out their accumulated profits.
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