New Delhi, May 6: Union telecom minister Jyotiraditya Scindia on Tuesday said investment in India at present makes economic sense for every original equipment manufacturer, as he cited the example of US smart devices major Apples decision to source majority of the iPhones sold in the US from the country. While speaking at the Bharat Telecom event, Scindia said the investment in India at present is not just an act of goodwill alone but it makes economic sense for every [] The post Apple To Source

MUMBAI, May 5: The rupee surged 24 paise to 84.33 (provisional) against the US dollar on Monday, supported by a sharp decline in crude oil prices and a positive trend in domestic equities. Robust equity inflows totalling Rs 2,769.81 crore reflect continued foreign investor interest in Indian assets, forex traders said, adding while capital inflows offer support, global uncertainties could cap gains. At the interbank foreign exchange, the domestic unit opened at 84.45 and moved between the []

New Delhi, May 5: The CBI has arrested a deputy general manager of Oil India Limited posted in Assams Duliajan and a private company executive for alleged bribery of Rs 7 lakh, officials said on Monday. Prayas Chakravorty, a deputy general manager (DGM) of Oil India Limited (OIL), had allegedly demanded the bribe from Jyoti Kumar Singh, the DGM of Noida-based United Drilling Tools Limited, for the award of certain contract in favour of the private company, they said. Both [] The post CBI Arrests

New Delhi, May 4: Markets regulator Sebi is actively working with the Ministry of Finance and other financial regulators on setting up a centralised KYC (Know Your Customer) system, chairman Tuhin Kanta Pandey has said. The Central KYC is an online database that maintains KYC records of customers in a centralised manner, aiming to streamline compliance across financial institutions. When asked about the common KYC system, Pandey told a news agency, Yes, I think we will move forward on that [] Th

New Delhi, May 4: Pakistan has banned the use of its ports by Indian flag carriers, hours after New Delhi imposed fresh punitive measures, including a ban on import of goods and entry of Pakistani ships into its ports, against Islamabad. India on Saturday imposed a ban on the import of goods coming from or transiting through Pakistan and also the entry of Pakistani ships into its ports even as Prime Minister Narendra Modi said the country is committed to [] The post Pahalgam Attack: Pakistan Shu

NEW DELHI, May 3: Chartered accountants apex body ICAI will be preparing a research paper to help markets watchdog Sebi in dealing with financial frauds. ICAI President Charanjot Singh Nanda on Saturday said the institute will set up a working group and hold discussions with Sebi to finalise the various aspects that will be looked into with respect to tackling financial frauds. The working group will submit a research paper to the Securities and Exchange Board of India (Sebi), [] The post ICAI

NEW DELHI, May 3: India on Saturday suspended exchange of all categories of mail and parcels from Pakistan through air and surface routes amid escalating tensions between the two nations over the Pahalgam terror attack that killed 26 people. The order suspending the services was issued by the Department of Posts that operates under the Ministry of Communication. Citing cross-border linkages to the horrific attack, India has promised severe punishment to those involved in the strike. (Agencies) T

NEW DELHI, May 3:India has banned direct or indirect import of all goods from Pakistan with immediate effect, according to a notification of the commerce ministry. A provision in this regard has been added in Foreign Trade Policy (FTP) 2023 to prohibit direct or indirect import or transit of all goods originating in or exported from Pakistan with immediate effect until further orders, it said in the notification dated May 2. The Directorate General of Foreign Trade (DGFT) in [] The post India b

New Delhi, May 3: The National Medical Commission (NMC) has directed immediate suspension of 26 MBBS students found complicit in NEET-UG 2024 malpractices and cancelled admission of 14 students for the academic year 2024-25 for resorting to unfair means during the entrance exam, an official source said. National Eligibility cum Entrance Test, or NEET, is a pan-India exam to taken by aspirants to get admission into the countrys medical colleges. As part of the ongoing investigations by multiple a

NEW DELHI, May 2:Gold prices climbed Rs 1,080 to Rs 96,800 per 10 grams in the national capital on Friday due to fresh buying from jewellers amid a firm trend overseas, according to the All India Sarafa Association. On Thursday, the precious metal of 99.9 per cent purity plunged Rs 2,830 to Rs 95,720 per 10 grams. Gold of 99.5 per cent purity rose Rs 180 to Rs 96,350 per 10 grams. It had depreciated Rs 1,930 to Rs [] The post Gold climbs Rs 1,080 to Rs 96,800/10 gm, silver jumps Rs 1,600 appear

Thiruvananthapuram, May 2: Prime Minister Narendra Modi on Friday officially commissioned the Vizhinjam International Seaport, here, which was completed at an estimated cost of Rs 8,867 crore. The PM arrived at the port area by helicopter from Thiruvananthapuram city at 10.15 am and walked around the transshipment hub wearing a hard hat, taking stock of the facilities here. Subsequently, at 11.33 am, he formally commissioned the first phase of the facility in the presence of Kerala Governor Raje

NEW DELHI, May 1: The price of jet fuel, or ATF, was reduced by 4.4 per cent on Thursday marking the second major cut within a month. Additionally, the price of commercial LPG used in hotels and restaurants was lowered by Rs 14.50 per cylinder, in line with international benchmarks. The Aviation Turbine Fuel (ATF) price was reduced by Rs 3,954.38 per kilolitre, or 4.4 per cent, to Rs 85,486.80 per kl in the national capital home [] The post ATF price cut by 4 pc, commercial LPG rates reduced

MUMBAI, Apr 28: Benchmark BSE Sensex soared by 1,006 points to close above 80,000 level on Monday as a sharp rally in Reliance Industries and private banks, and foreign fund inflows helped stock markets cut short two days of fall amid India-Pakistan border tensions. The 30-share BSE Sensex jumped 1,005.84 points or 1.27 per cent to settle at 80,218.37 with 23 of its constituents ending with gains and seven in the red. During the day, it surged 1,109.35 points [] The post Sensex jumps 1,006 poin

CHENNAI, Apr 26: Cholamandalam Investment and Finance Company Ltd has recorded a consolidated profit after tax for the January-March 2025 quarter at Rs 1,259.54 crore, the company said on Saturday. The city-based company, which is the financial services arm of the diversified conglomerate Murugappa Group, had registered a profit after tax of Rs 1,065.23 crore during the corresponding quarter of last financial year. For the financial year ending March 31, 2025, the profit after tax surged to Rs 4

NEW DELHI, Apr 25: Indian economy could grow at 6.5 per cent in the current fiscal as lower prices of crude oil are expected to ease inflationary pressure and support domestic growth, despite intensifying global trade tensions, EY said on Friday. The EY Economy Watch report for April identifies four key interlinked effects which would have a bearing on Indias growth reduced exports, global slowdown, falling crude oil prices, and the impact of global excess production capacities. With [] The po

New Delhi, Apr 25: The government has notified the Goods and Services Tax Appellate Tribunal (Procedure) Rules, which provide for mandatory e-filing of applications and conducting hearings in a hybrid mode. The rules also provide that any urgent matter filed by an applicant before 12:00 noon shall be listed before the Appellate Tribunal on the following working day, if the application is complete in all respects. In exceptional cases, the application may be received after 12:00 noon but before 3

NEW DELHI, Apr 23: Ola Group, spanning ride-hailing, electric vehicles, and AI, now holds over 50 per cent of all patents filed by Indias 117 unicorns. Indias unicorns collectively hold only 229 patents, with Ola Group owning more than half, according to data from the Indian Patent Advanced Search (IPAS) System. In a recent post on X (formerly Twitter), Ola Founder Bhavish Aggarwal shared, Happy that Ola group @OlaElectric @Olacabs and @Krutrim have half of all granted patents for all [] The pos

MUMBAI, Apr 23: Stock markets extended the winning run to seventh day on Wednesday with benchmark BSE Sensex jumping 520 points to close above 80,000 level for the first time in four months driven by strong gains in IT and auto shares. The 30-share Sensex rose by 520.90 points or 0.65 per cent to settle at 80,116.49, the highest closing level since December 18. During the day, it surged 658.96 points or 0.82 per cent to 80,254.55. The NSE Nifty [] The post Stock markets rise for 7th day; Sensex

New Delhi, Apr 21: Central and state GST officers have detected 25,009 fake firms involved in fraudulently passing input tax credit (ITC) worth Rs 61,545 crore during 2024-25, officials said. During the 2024-25 fiscal ending March 2025, Central and state GST officers recovered Rs 1,924 crore by way of blocking ITC and arrested 168 persons. As per data on ITC frauds unearthed by Central and State GST officers, over the two years 2023-24 and 2024-25, 42,140 fake firms were detected, [] The post Ce

NEW DELHI, Apr 18: The US has informed the global trade body WTO that the decision to impose tariffs on steel and aluminium, was based on national security grounds and should not be considered as safeguard measures, according to a communication. The US shared this response with the World Trade Organisation (WTO) after India requested consultations under the WTOs Safeguards Agreement on April 11 with America. India has said that notwithstanding the USAs characterisation of these measures as secu

MUMBAI, Apr 17: SEBI chairman Tuhin Kanta Pandey on Thursday said the markets regulator will not let commercial interest trump general public interest while deciding on the largest equity bourse NSEs Initial Public Offering (IPO) plans. We will not allow commercial interest to take over the general public interest, and it is for the regulator to ensure that, Pandey told reporters on the sidelines of the CII corporate governance summit. Pandey explained that India has adopted a model where [] Th

MUMBAI, Apr 16:The rupee sustained its rally for the third straight session and settled with a gain of 12 paise at 85.68 (provisional) against the US dollar on Wednesday, boosted by the renewed inflow of foreign funds and a weak American currency. Positive domestic macroeconomic numbers amid the 90-day pause on US reciprocal tariffs triggered a buying rush in equities, strengthening the local currency, according to forex traders. Also, lower crude prices in international markets supported the d

NEW DELHI, Apr 15: Wholesale price inflation eased to 2.05 per cent in March, as against 2.38 per cent in February, government data showed on Tuesday. The wholesale price index (WPI) based inflation, however, rose year-on-year. It was 0.26 per cent in March 2024. Positive rate of inflation in March, 2025 is primarily due to increase in prices of manufacture of food products, other manufacturing, food articles, electricity and manufacture of textiles etc, the industry ministry said in a statement

NEW DELHI, Apr 11: Gold prices surged by Rs 6,250 to hit a record high of Rs 96,450 per 10 grams in the national capital on Friday due to heavy demand from local jewellers and retailers, according to the All India Sarafa Association. Analysts said the precious metal hitting lifetime high levels in the international markets on strong safe-haven demand amid escalating US-China trade tensions boosted the domestic prices. On Wednesday, the yellow metal of 99.9 per cent purity [] The post Gold skyro

NEW DELHI, Apr 8:Gold prices fell by Rs 200 to Rs 91,250 per 10 grams in the national capital on Tuesday amid subdued demand in the local markets, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had settled at Rs 91,450 per 10 grams on Monday. Gold of 99.5 per cent purity dipped Rs 200 to Rs 90,800 per 10 grams. It had concluded at Rs 91,000 per 10 grams in the [] The post Gold falls Rs 200 to Rs 91,250/10 g; Silver rebounds appeared first on Daily Exce

MUMBAI, Apr 3: The rupee pared its initial losses and settled for the day higher by 22 paise at 85.30 (provisional) against the US dollar on Thursday as the greenback weakened against its major peers after President Donald Trump unleashed reciprocal tariffs on about 60 countries. The domestic unit had witnessed a knee jerk reaction in early trade but soon gained the lost ground and ended the day on a positive note, after the US announced 27 per cent [] The post Rupee pares initial losses, settl

NEW DELHI, Apr 1:The price of Jet fuel, or ATF, on Tuesday was cut by a steep 6.1 per cent and the rates of commercial LPG that is used in hotels and restaurants were reduced by Rs 41 per 19-kg cylinder in the monthly revision done in line with benchmark international prices. The Aviation Turbine Fuel (ATF) price was reduced by Rs 5,870.54 per kilolitre, or 6.15 per cent, to Rs 89,441.18 per kl in the national capital [] The post ATF, commercial LPG rates cut appeared first on Daily Excelsior

NEW DELHI, Apr 1:Mid-size motorcycle maker Royal Enfield on Tuesday reported a 34 per cent jump in total sales at 1,01,021 units in March, as compared to 75,551 units in the same month last year. Domestic sales were at 88,050 units last month, as against 66,044 units in March 2024, up 33 per cent, Royal Enfield said in a statement. Exports grew by 36 per cent at 12,971 units, as compared to 9,507 units in the year-ago month. In [] The post Royal Enfield sales up 34 pc at 1,01,021 units in March

CHENNAI, Mar 29: The Chairman of Kerala-based diversified conglomerate Muthoot Pappachan Group, Thomas John Muthoot, has been elected as the Chairman of Confederation of the Indian Industry (CII), Southern Region for the year 2025-26. The President of Danfoss India Region, Ravichandran Purushothaman, has been elected Vice Chairman, CII said. Danfoss India, a subsidiary of Denmark-based Danfoss, is a leader in heating, ventilation, air-conditioning and compressors. Muthoot heads the Muthoot Pappa

NEW DELHI, Mar 28: The Government on Friday left interest rates unchanged on various small savings schemes, including PPF and NSC, for the fifth straight quarter beginning April 1, 2025. The rates of interest on various Small Savings Schemes for the first quarter of FY 2025-26 starting from 1st April, 2025 and ending on 30th June, 2025 shall remain unchanged from those notified for the fourth quarter (1st January, 2025 to 31st March, 2025) of FY 2024-25, said a finance [] The post Interest rates

JAMMU, Mar 6: Jammu and Kashmir Chief Minister Omar Abdullah on Thursday announced that the Bungus Valley in Kupwara district is being developed as an offbeat tourism destination with development works totaling Rs 72 lakh proposed for the area. Responding to a query from Jammu and Kashmir Assembly member Sheikh Khursheed during Question Hour, Abdullah said the approved allocation for the plan for 2024-25 is Rs 30 lakh. To promote Bungus as an offbeat destination, the tourism department has propo