GIC Re’s scrip flares up to touch 52-week high of Rs 467
Chennai, Feb 8 - The national reinsurer General Insurance Corporation of India’s (GIC Re) scrip flared up to reach a 52 week high of Rs 467 on Thursday and came down later.
RBI makes Key Fact Statement a must for retail and MSME loans
Mumbai, Feb 8 - The RBI on Thursday announced that it is mandatory for regulated entities such as NBFCs to provide ‘Key Fact Statement’ (KFS) in a simple format to borrowers for all retail and MSME loans.
RBI to review regulatory norms for Electronic Trading Platforms
Mumbai, Feb 8 - The RBI announced on Thursday that it has decided to review the regulatory framework for Electronic Trading Platforms (ETPs) and the revised regulatory framework will be issued separately for public feedback.
RBI allows hedging of gold price risk in IFSC
Mumbai, Feb 8 - The Reserve Bank of India (RBI) has decided to allow hedging of gold price risk in the Over the Counter (OTC) Market in the International Financial Services Centre (IFSC).
RBI projects GDP growth at 7% for 2024-25, sees inflation falling to 4.5%
Mumbai, Feb 8 - The RBI has projected India’s real GDP growth for 2024-25 at 7.0 per cent as it expects the growth momentum to continue into the next financial year while it sees inflation coming down to 4.5 per cent given a
Sensex tanks more than 600 points after RBI credit policy
New Delhi, Feb 8 - BSE Sensex tanked more than 600 points after RBI announcement of credit policy with banks leading the fall.
Disney to invest $1.5 bn in Epic Games to create games, entertainment universe
San Francisco, Feb 8 - Entertainment giant Disney has said that it will invest $1.5 billion to acquire an equity stake in the 'Fortnite' maker Epic Games and work with the game developer to create a "games and entertainment universe".
Essar’s sustainability initiatives propel India’s energy transformation
New Delhi, Feb 8 - Essar, a prominent player in India's energy landscape, is charting a new course towards sustainability.
RBI leaves repo rate untouched at 6.5% for 6th time in a row
Chennai, Feb 8 - Not belying the expectations of senior economists, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) retained the repo rate at 6.50 per cent.
Government confirms no investigation or systemic stability concerns: Paytm
New Delhi, Feb 8 - In a reassuring development for the digital payments giant, Paytm, and its vast user base, recent clarifications from top government officials have put to rest any concerns regarding the company's operational integrity and systemic stability within the financial
AI-based writing assistant Grammarly to lay off 230 employees
San Francisco, Feb 8 - Popular AI-based writing assistant Grammarly is laying off 230 workers as part of restructuring and 82 of the affected workforce are in the US.
India’s merchandise exports in Q4 will be $118.2 bn: Export Import Bank of India
Chennai, Feb 7 - India’s merchandise exports for the fourth quarter of FY24 will be about $118.2 billion, logging a year-on-year (YoY) growth of 2.96 per cent, the Export-Import Bank of India (India Exim Bank) forecasts.
Cholamandalam MS General Insurance targets Rs 7,700 crore premium
Chennai, Feb 7 - Murugappa group’s multi-line insurer Cholamandalam MS General Insurance Company Ltd targets to close this fiscal with a gross premium of about Rs 7,700 crore, a top company official said on Wednesday.
India’s solar power potential estimated at 748 GW; Rajasthan tops, J&K 2nd
New Delhi, Feb 7 - India’s total solar energy potential has been estimated at 748 GWp (Giga Watt peak), Union Minister for New & Renewable Energy and Power, R.K. Singh, informed the Parliament on Wednesday.
Power Grid Q3 net profit up 10.5%, declares 2nd dividend
New Delhi, Jan 7 - Power Grid Corporation of India Ltd on Wednesday reported a 10.5 per cent growth in its consolidated net profit at Rs 4,028 crore in the October-December quarter of the current financial year compared with the corresponding figure of
Railway Board approves Rs 244.77cr for wagon workshop in Odisha’s Kantabanji
Bhubaneswar, Feb 8 - The Railway Board has approved Rs 244.77 crore for the establishment of Wagon Periodic Overhauling (PoH) facility at Kantabanji in Balangir district of Odisha.
US companies flashing key sign of economic uncertainty by hoarding cash
New York, Feb 7 - America’s publicly traded companies are flashing a key sign of economic uncertainty -- they’ve been hoarding cash, a media report said.
Monsoon trawl ban not detrimental to prawn resources: CMFRI study
Kochi, Feb 7 - A new study by the ICAR-Central Marine Fisheries Research Institute (CMFRI) has found that the monsoon trawl ban is not detrimental to kiddi prawn resources.
Freshworks reports 20% revenue growth, unleashes latest GenAI across products
San Francisco, Feb 7 - Software major Freshworks has reported 20 per cent growth in its revenue for the fourth quarter of 2023, as it doubles down on using latest generative AI across its products.
India’s smartwatch shipments grow 50% in 2023, Fire-Boltt leads: Report
New Delhi, Feb 7 - India’s smartwatch shipments have witnessed 50 per cent (year-on-year) growth in 2023, with Fire-Boltt leading the market, a new report said on Wednesday.