IT services company HCLTech on Friday posted a 20.4 per cent rise in consolidated net profit to Rs 4,257 crore for the June-ended quarter and gave a revenue growth guidance of 3-5 per cent for FY25 on GenAI diversification and strong operational execution. For the fiscal's first quarter ended June 2024 (Q1 FY25), the revenue came in at Rs 28,057 crore, 6.6 per cent more than in the year-ago period. Seen sequentially, it was 1.6 per cent lower than the March quarter.
The December meeting of the Reserve Bank of India's (RBI's) six-member Monetary Policy Committee (MPC) will start on Wednesday even as there is no clarity on whether Governor Shaktikanta Das, the chair of the panel, will continue in office after his term ends next week. The outcome of the meeting will be announced on Friday by Das at 10 in the morning.
RBI has posted detailed instruction on its website clearly showing the eligibility conditions and other necessary documents required to be tendered for exchange of old currency notes
People taken into custody for economic offences should not be handcuffed and clubbed with those arrested for heinous crimes such as rape and murder, a parliamentary committee has recommended.
'The RBI's MPC will maintain the current policy rates (6.50%) at the policy meeting, given ongoing inflationary pressures.'
In the first of a four-part series, Business Standard takes a look at how a mint in Salboni, West Bengal, is working overtime to print currency notes.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
About 200,000 ATMs can dispense the new series of Rs 500 notes
Debroy, in an interview with India TV news anchor Karan Thapar, said there would be no shortage of currency notes and the demonetisation exercise was justified -- it would be a deterrent for future generations.
Reserve Bank of India Deputy Governor Viral V Acharya further said that the impact of the notes ban would only be temporary and would help in bringing informal sector into the mainstream economy.
The prime minister was speaking at an industry meet organised at ONGC Petro Additions Ltd's complex in Gujarat's Dahej.
Were you one of the lucky Indians who handed over your Rs 500 and Rs 1,000 notes and got a brand new Rs 500 or Rs 2,000 note in return? Post a selfie with the new currency please!
Uddhav said there was no point in Modi becoming emotional at a time when people have tears in their eyes.
He dismissed as 'hollow claim' and 'Modi's propaganda' that things have started looking up.
However, even 10 days after Modi took the nation by surprise by announcing demonetisation of Rs 500 and Rs 1000 currency notes, his rivals continued to aggressively target him
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
The decision is aimed at discouraging hoarding of valid currency notes
Putin said that the Indian leader had "aptly" noted that it is "not an anti-western one but a non-western one".
Putin expressed concern over the situation in Gaza, and said Palestinian President Mahmoud Abbas has been invited to BRICS events.
From the Sensex pack, NTPC, Tata Motors, Larsen & Toubro, Bajaj Finserv, Bharti Airtel, HDFC Bank, Reliance Industries, Titan, Power Grid and State Bank of India were the major gainers. ITC, UltraTech Cement, Tech Mahindra, Tata Steel, Wipro, Tata Consultancy Services and JSW Steel were among the laggards.
Adequate currency in circulation, temporary shortage to be tackled quickly, says FM
73-year-old dies in Mumbai, 75-year-old in Kerala.
The battalion launched an attack and came under intense fire from the enemy after reaching the hill top. Singh died in the gun battle and was awarded a Sena Medal posthumously.
Crypto exchange WazirX has said customers affected by the recent cyber attack will not be able to recover their full funds even as the firm looks to restructure. At a virtual press conference, the firm's advisor said at best the company might look to return 55-57 per cent of the money. "This is what can be returned to users with the benefit of this restructuring," said Jason Kardachi, managing director (restructuring), Kroll.
Only Rs 10,720 crore of the junked currency notes did not return to the banking system, rest 99.9 per cent was deposited raising question mark over the government's effort of curbing black money through the demonetisation.
Banks, cooperative banks and post offices will have to report to the tax department all cash deposits between April 1 to November 9, 2016.
Do you know what kind of currency notes are illegal?
Uncertainties on account of COVID-19 pandemic have increased the demand for currency notes not only in India but across the globe, official sources said, dismissing the criticism that demonetisation has failed to reduce cash in the economy. Government sources said that growth of the digital payments system post-demonetisation will ultimately curb the dependence on cash. Official data points out a jump in digital payments through different modes, including plastic cards, net banking and Unified Payments Interface (UPI).
"Mayawati has indulged in self-glorification by receiving garlands made of currency notes in utter disregard to the condition of majority of her political constituency -- the Dalits," Ramdev told media persons in Gangtok.
In his absence, the party stares at uncertainty as many of its other senior leaders are either in jail or in political obscurity.
The quantum of fake Swiss francs remained much higher.
'India should start leveraging rather than banning crypto.'
However, India is likely to regain the tag of the fastest growth emerging economies of the world in 2018.
The top court said in order to declare whether the exercise is academic or infructuous, it needs to examine the matter since both sides are not agreeable.
The raid was carried out at a hotel in Karol Bagh in the national capital.
The Opposition on Thursday hit out at Prime Minister Narendra Modi saying his note ban decision was "reckless".
Domestic air passenger traffic grew 5.1 per cent year-on-year to an estimated 138.9 million in May and was significantly higher by around 14 per cent than pre-Covid levels, credit ratings agency Icra said on Thursday. Icra also said the outlook on the Indian aviation industry is stable amid the continued recovery in domestic and international air passenger traffic with a relatively stable cost environment and expectations of the trend continuing in FY2025.
The cash was found in a box earlier this month during a police survey at one of their locked paternal houses in Sarawada village.
Branch networks will give preference to pensioners and labourers for withdrawing money.
RBI to withdraw pre-2005 notes: Here's how to recognise the new from the old.
