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India surpassed Japan to become 3rd largest solar power generator in 2023
India saw the world's fourth-largest surge in solar generation in 2023 (+18 terawatt hour or TWh). This surge was placed behind China (+156 TWh), followed by United States (+33 TWh) and Brazil (+22 TWh). These top four countries accounted for 75 per cent of solar growth in 2023.
Since Tuesday night, 300 senior cabin crew members of Air India Express reported sick at the last minute and switched off their cellphones, leading to over 90 flights being cancelled.
Since Tuesday night, 300 senior cabin crew members of Air India Express reported sick at the last minute and switched off their cellphones, leading to over 90 flights being cancelled.
Esaf Small Finance Bank Q4 Results: Net profit plunges 57% YoY to Rs 43 crore
The bank's operating profit was 30% higher at Rs 285 crore against Rs 219 crore but provisions and contingencies at Rs 226 crore against Rs 82 crore pulled the net profit down.
Declining for the second straight session, the 30-share BSE Sensex fell 0.06% to settle at 73,466. The NSE Nifty remained unchanged at 22,302.50.
HDFC ERGO withdraws 3 policies under my:health Suraksha scheme. Check details
The plans that have been taken off the market are: my:health Suraksha Gold, my:health Suraksha Platinum, and my:health Suraksha Silver plans.
Tata Power plans a 66% higher capital expenditure of Rs 20,000 crore to focus on energy transition and net-zero emissions. The company aims for 70% capacity from non-fossil-based fuels by 2030.
How to prevent impact of frauds on your CIBIL score? Here are 5 steps
It is recommended to reach out to the financial institution associated with the fraudulent charges. Besides, you should file a formal complaint against the fraud, dispute the said charges and do a regular follow-up until it is resolved.
Does a high CIBIL score guarantee loan approval? MintGenie answers
While a high CIBIL score indicates that you have a good credit history and are likely to repay your loans on time, banks consider other factors as well such as your income, current loan obligations, among other factors.
SC hold bank employees' interest-free loans taxable as fringe benefits
The Supreme Court has ruled that interest-free or concessional loans given by banks to their employees will be considered fringe benefits or amenities and therefore taxable. The court argued that these benefits are unique to bank employees and are in the nature of a perquisite, thus liable to taxation. The court upheld the income tax rule, but deemed the fixation of SBI's interest rate as the benchmark to be neither arbitrary nor unequal exercise of power.
NTPC Green Energy ties up with MAHAPREIT to develop renewable energy parks, projects in Maharashtra
NTPC Green Energy collaborates with MAHAPREIT to develop a 10 GW renewable energy park in Maharashtra, aiming for 60 GW RE capacity by 2032 with NGEL subsidiary focusing on green initiatives.
RBI lifts ban on Bank of Baroda's BoB WorldApp from onboarding new customers
In an exchange filing, the bank said it will now resume onboarding new customers in the Bob World application. The Bank remains committed to ensure adherence and compliance of regulatory guidelines.
RBI lifts restrictions on 'Bob World' app
The Reserve Bank of India (RBI) has decided to lift restrictions on Bank of Baroda's Bob World app with immediate effect, allowing it to onboard customers, the bank said in the exchange filing.The bank said, We wish to inform that the RBI conveyed to the Bank its decision to lift the restrictions on Bob World with immediate effect, as such the bank is free to onboard customers through Bob World application in accordance with the applicable guidelines and extant laws /regulations.\The Bank will now resume onboarding new customers in the Bob World application. The Bank remains committed to ensure adherence and compliance of regulatory guidelines, the filing said.Earlier in October 2023, the RBI directed the Bank of Baroda to suspend any onboarding of customers onto its 'Bob World' mobile application, based on certain supervisory concerns.Later in response to directives from the RBI, Bank of Baroda affirmed that it had implemented corrective actions to rectify the issues raised by the RBI.
How to strategically invest for your long-term financial goals
Everyone who earns and saves should have a financial and investment plan. The key is to have a structure for your financial goals and invest based on these goals.
Serum Institute of India says it stopped manufacturing Covishield since December 2021
Serum Institute of India halted Covishield vaccine manufacturing and supply in December 2021 amid side effects concerns and Astrazeneca's withdrawal of Vaxzervria.
Govt soon to finalise framework of state mining index to ensure ease of biz: Mines secretary
NEW DELHI, May 8: The government is likely to soon finalise a framework for a state mining index which would serve as a tool for stakeholders and ensure ease of doing mining business, an official said on Wednesday. A state mining index would boost cooperative federalism as well as competition among states, Mines secretary V L Kantha Rao said at a day-long workshop on State Mining Index here. Principal secretaries, directors and other officials from 26 states participated in the [] The post Govt soon to finalise framework of state mining index to ensure ease of biz: Mines secretary appeared first on Daily Excelsior .
India's data center industry set to double capacity by 2026, attract investments
India's data center industry is poised for significant growth, with its capacity forecasted to double to 2,000 MW by 2026. This expansion is expected to attract investments totaling Rs 50,000 crore over the next three years. Despite India generating 20% of global data, its share of data center capacity is only 3%, indicating vast potential for growth. Adoption of technologies like 5G, IoT, and AI is expected to triple data consumption in India.
How to invest in direct mutual funds online and offline
Mercedes retreats to gas guzzlers as EVs fail to boost profit
Mercedes-Benz Group AG is adjusting its electric-vehicle goals due to weakening sales, opting for combustion engines longer. CEO Ola Kllenius cites slower transformation, pledging to make combustion and hybrid vehicles into the 2030s if demand persists. Disappointing electric model orders and lower margins prompt the shift, reflecting wider industry challenges.
Vehicle retail sales soar 27% in April; two-wheeler registrations jump 33%, cars up 16%
Vehicle registrations in the country a proxy for retail sales went up by a robust 27% year on year to 2.2 million units in April, led by two-wheelers on the back of stable fuel prices, positive outlook for the monsoons, Navratri demand, and the ongoing marriage season
Google Wallet: This article is about how to use Google Wallet and how different is it from Google Pay. As per Google, this wallet can be used for various utility functions like storing Air India, Indigo Airlines flight boarding pass, PVR and INOX cinema tickets. Read here to know more.
AI can be the ad factory at scale for advertisers: Meta exec
We have always been about AI. It has been at the backbone of our feed since 2006 and we have had products for advertisers that have been leveraging AI. Thats how users get different things basis their interests, said Arun Srinivas, director and head of the ads business (India) at Meta.
Railways laid on an average 7.41 km tracks daily in 10 years, RTI response reveals
New Delhi, May 8: The Indian Railways has laid on an average 7.41 km of tracks, which include new line construction as well as doubling, tripling and gauge conversion of existing lines in the past ten years, a response of an application under the Right to Information (RTI) Act from the Railways Ministry revealed. According to data provided by the ministry, it laid a total of 27057.7 kms of railway tracks in ten years from 2014-15 to 2023-24 which covers [] The post Railways laid on an average 7.41 km tracks daily in 10 years, RTI response reveals appeared first on Daily Excelsior .
Investment advisors are now meant to submit periodic report for half yearly periods ending on September 30 and March 31 of every financial year. These reports will also include details of their social media handles such as Facebook, X, Linkedin and others.
IPL: Bollywood superstars, top players share ad spoils as cricket frenzy sweeps India over
King Khan has pocketed the most endorsement money this IPL season, followed by Ajay Devgn. Big cricketing names are not far behind too, with Virendra Sehwag, Ravichandran Ashwin and Hardik Pandya each bagging a good many endorsement deals.
Covishield off shelves for 2 years in India, AstraZeneca withdraws globally
In India, Covishield is manufactured by the Serum Institute of India (SII) under a licensing agreement with AstraZeneca. SII, one of the world's leading vaccine producers, ceased Covishield production in December 2021 due to low demand.
How Prateek Agrawal is restoring Motilal Oswal AMC's lost glory
Agrawal is mixing a new set of ideas into Motilal AMCs core way of functioning
IPCL, E2S to develop Thermal Energy Storage System for efficient storage, transmission
India Power Corporation Ltd and E2S Power develop a 250Kwh TESS for efficient energy storage, aiding in integrating renewable energy and supporting India's net zero emission targets. The technology ensures flexibility in thermal power operations, aligns with Make in India, and targets South East Asia.
TVS Supply Chain clinches deal to manage VE commercial vehicles' Baggad plant
VE Commercial Vehicles has been associated with TVS Supply Chain Solutions since 2006 for in-plant logistics operations of their truck plant in Pithampur, Madhya Pradesh.
DCB Bank, Engineers India among 10 companies that saw highest drop in MF holdings in March
MF holding in Tracxn Technologies decreased by 7.71% in March to 4.32% against 12.03% in December.
Baroda BNP Paribas MF launches retirement fund. Should you start investing?
Baroda BNP Paribas Mutual Fund's Retirement Fund aims to generate income and capital appreciation by investing in a diversified portfolio of equity and equity-related instruments and fixed-income instruments to provide a retirement solution to investors.
Vi expects to clear all vendor dues in FY26, say analysts
According to Vodafone Idea management, proceeds from Rs 18,000 crore FPO and proposed Rs 25,000 crore debt funding would enable telco to also upgrade network, say analysts.
Demat Account: How to check transaction history? Here's a step-by-step guide
The Consolidated Account Summary (CAS) provides comprehensive information on transactions and investments in a demat account. Access CAS on CDSL or NSDL platforms with specific steps.
Peninsula Land, Delta Corp, AA Group to set up Rs 765-cr realty platform
This joint entity will undertake residential redevelopment in the Mumbai Metropolitan Region and plotted development in and around the Mumbai region, Alibaug, Khopoli, Karjat and Pune.
As per Google Wallet website, Google Wallet is a secure and private digital wallet that allows users quick access to passes, tickets, keys or IDs that they share on the app.
Demat Account: A beginner in stock market? Here are 7 resources you can use to educate yourself
Brokerage firms typically offer online tutorials and courses covering various aspects of investing, trading strategies, technical analysis, fundamental analysis, risk management, and market trends. These resources cater to investors of all levels, from beginners to advanced traders.
EPFO: Increase in gratuity on account of hike in DA put in abeyance with immediate effect
Union Cabinet had raised dearness allowance and dearness relief to central government employees and pensioners from 46 percent to 50 percent of the basic pay or pension. Following this, gratuity cap rose by 25 percent from 20 lakh to 25 lakh.
Waaree Energies, Ecofy partner to offer finance for solar rooftop projects
Through the initiative, the company aims to accelerate the solarisation of over 10,000 rooftops across households and MSMEs (Micro, Small & Medium Enterprises).
In a move impacting existing policyholders, HDFC Ergo discontinues its myhealth Suraksha health insurance plans. The insurer will migrate customers to alternative policy. Key concerns for existing customers include changes in premiums, coverage details, and potential loss of renewal benefits. ET Wealth Online delves into how this will affect renewals, benefits, and the migration process. Customers of HDFC Ergo myhealth Suraksha health plans must know these details
Polaris gets new smart metering project worth Rs 2,246 cr in West Bengal
Polaris Smart Metering will supply, commission, install and maintain smart meters for consumers and system metering across the consumer base in these important clusters for the next 10 years. These smart meters will be equipped with state-of-the-art technology, enabling prepaid billing, real-time energy monitoring, accurate metering, and improved grid management capabilities.
RBI asks NBFCs to stick to loan cash payout limit of Rs 20,000
The Reserve Bank of India has instructed non-bank finance companies (NBFCs) to strictly enforce a 20,000 rupees ($240) cash loan limit to discourage cash transactions, citing Section 269SS of the Income Tax Act. The directive follows actions against IIFL Finance for violating loan disbursement and collection rules, prompting heightened regulatory scrutiny
How companies can help their employees save 1 lakh in taxes
Many companies allow the flexibility of making changes in the CTC offered to employees at the beginning of the financial year. If any company wants to give employees this option, they can restructure their salary by choosing tax-efficient components.
Hero Moto to make 'big strides' in FY25 through EV product launches in mid & affordable segment
Hero MotoCorp announced plans to introduce electric variants in the mid and affordable segments, expressing optimism for the year ahead. CEO Niranjan Gupta highlighted upcoming product launches, including Xoom scooters, in the ongoing fiscal year. The company anticipates industry growth supported by stable commodity prices, a normal monsoon, and increased government spending.
IIT Madras raises 513 crore from alumni, corporates and donors in FY 23-24
The alumni did most of the heavy lifting, contributing Rs 368.19 crore, followed by the CSR segment contributing Rs 95.53 crore, with the rest coming from other sources.
Launched in 2004, the National Pension System (NPS) serves as a robust investment avenue for individuals aiming to build a substantial retirement fund, complemented by the prospect of receiving a pension thereafter.
Tax efficiency 101: How to maximise income tax benefits on home loans
Income tax benefits on home loans: Tax deduction for first-time buyers, benefits for women borrowers how do we use these tax deductions to the fullest? Read all about it here.
DG Innovate joins hands with EVage Motors, forays into domestic EV space
UK-based advanced R&D firm DG Innovate on Wednesday announced its entry into the domestic electric vehicle space through a joint venture with electric commercial vehicle startup EVage Motors. The JV, which will be 60 per cent owned by DG Innovate and 40 per cent by the Indian partner, will produce electric motors for both domestic and overseas markets, EVage said.
Canara Bank Q4 Results: Profit jumps 18% YoY to Rs 3,757 crore; NII rises 11%
Canara Bank Q4 Results: The company's Board has also recommended a dividend of Rs 16.10 per share, 161% of face value each, for the financial year 2023-24
The ministry of civil aviation has called for a report from Air India Express regarding cancellation of flights and asked them to resolve issues promptly.
Passengers took it to X and other social media platforms to express their anger against the cancellations. Videos of many angry passengers at Delhi, Kochi, Kozhikode and Thiruvananthapuram airports are doing rounds on social media. Travellers can be seen arguing with the ground staff of Air India Express as their flights were cancelled at the last minute.
Demat Account: What is electronic voting and how does it work? MintGenie explains
Electronic voting allows shareholders to cast votes electronically, increasing convenience and reducing costs. Shareholders receive notification of proposed resolutions and can cast their votes through their demat accounts. The results are tabulated and announced during the meeting.
Money bags! 9 mutual funds own over Rs 1 lakh crore worth of stocks
PI Industries shares gain 0.02% as Sensex rises
The stock quoted a 52-week high of Rs 4032.0 and a 52-week low of Rs 3060.0.
India's infra push to raise demand for TMT bars: Industry players
India consumed 50.3 million tonnes (MT) of TMT bars in FY23, up from 46 MT in the previous fiscal. Domestic manufacturers collectively produced 51 MT TMT bars in FY23 compared with 47.2 MT in FY22.
No COVID-19 vaccine bought in last 2 yrs: Govt sources on AstraZenecas vaccine row
AstraZeneca COVID-19 vaccine row: In 2022, sources for Serum Institute of India the producer of the vaccines in India had said that there were no fresh orders from the government and that their supply commitments had ended as of March 31.
5% or more than 25%: How much gold should you hold in portfolio when prices are on a roll?
Gold prices have been rallying in 2024, reaching an all-time high of over Rs 73,000 per 10 gman increase of nearly 21.1% in just one year.
Mutual fund KYC rules from April 1, 2024: To invest in any scheme of any mutual fund house easily, an investor must have KYC Validated status. However, the KYC validated can be achieved only if the KYC documents submitted by an individual can be verified with the source issuing such documents.
Marico shares up 1.99% as Sensex falls
A total of 200,312 shares changed hands on the counter till 11:26AM (IST)
Infosys, Bajaj Finance among 9 stocks that earned downgrades in last 1 month
Infosys, Bajaj Finance, Wipro, HDFC Bank, HUL, Dalmia Bharat, Bandhan Bank, CIE Automotive, AU SFB target prices downgraded by brokers, indicating revised average target prices and upside potential.
Demat Account: Considering pledging shares? 5 things to keep in mind before going ahead
This practice of using shares as collateral or margin against shares serves as a means for investors and promoters to secure capital while still maintaining ownership of their shares.
Top-up home loans: Tenure, interest rate, and other things to keep in mind when applying
Top-up home loans allow borrowers to borrow additional funds on top of their existing home loan, with competitive rates and potential cost savings
Lionsgate, Abundantia, EFAR to co-produce two films
Lionsgate, EFAR Films, and Abundantia Entertainment are joining forces to co-produce two films, one in the action-comedy and the other in the romantic-comedy genre. The collaboration aims to create culturally resonant and engaging content for global audiences. Scripting has begun for both projects, with a focus on assembling top creative talent for each film. Lionsgate Play Asia's President Rohit Jain expressed excitement about the partnership, highlighting the commitment to delivering innovative films.
Air India Express cancels 70 flights after several crew members call in for a 'mass sick leave'
According to the reports, the staff called in sick together to protest against the mismanagement by authorities at the Tata Group-owned airline.
Anil Agarwal likens critical minerals to gold, says India should ensure self-sufficiency
The chairman of the natural resources conglomerate Vedanta said that not only are these minerals fundamental for new age technologies, they are also green metals.
Air India Express cancels more than 70 flights after crew members 'fall sick at last moment'
Air India Express has cancelled more than 70 flights due to a mass 'sick leave' by its senior crew member, leading to flight delays and cancellations. Civil Aviation authorities are investigating the issue, while the airline is working to minimise inconvenience to passengers and offering refunds or rescheduling options. Passengers are advised to check the status of their flights before heading to the airport.
Akshaya Tritiya 2024: 5 things to buy on this auspicious day
Akshaya Tritiya is an auspicious day for new beginnings, investments, and weddings, believed to bring prosperity. Traditionally, people buy gold, perform religious ceremonies, and make charitable donations
AstraZeneca withdraws Covid vaccine days after side effect row, firm says decision 'commercial'
AstraZeneca, however, attributed the move to commercial reasons. The company reportedly said that the vaccine is no longer being manufactured or supplied.
Unfair banking and damaging financial rules harming UKs small firms, MPs warn
Treasury committee says debanking and use of personal guarantees for loans is putting small businesses at risk Unfair banking practices and damaging financial regulators are harming small businesses and putting innovation and growth at risk, parliaments Treasury committee has warned. A report from the committees inquiry into access to finance for small and medium-sized enterprises (SMEs) said a lack of supportive policies were compounding problems for firms that had survived a torrid five years, which included the global pandemic and energy crisis. Confidence amongst SMEs in accessing finance has fallen and acceptance rates for business credit has lowered significantly, the report said. Continue reading...
Tesla pullback puts onus on others to build electric vehicle chargers
Musk's decision to lay off the 500-member team responsible for installing charging stations, and to sharply slow investment in new stations, baffled the industry and raised doubts about whether the number of public chargers would grow fast enough to keep pace with sales of battery-powered cars.
Crisis-hit Bayern banking on Kane and victory to change the narrative
Bayern Munich, led by Harry Kane, seek Champions League success amidst coaching turmoil. Struggling to secure a stable coach, they face Real Madrid in a crucial semi-final, aiming for a spot at Wembley.
Air India, Lufthansa deepen ties in 'rare' code-sharing pact
Lufthansa and Air India have deepened partnership with code-share expansions on India-Australia route. Experts note that it's unusual for Lufthansa to code-share with Air India on international routes.
REC aims to double loan book to Rs 10 lakh cr by FY30
REC Ltd is targeting a loan book of Rs 10 lakh crore by 2029-30, with 50-60% of the portfolio consisting of conventional power generation, transmission, and distribution projects and 30% focused on renewable energy. The company's assets under management are around Rs 5 lakh crore. The power ministry has projected a need for 85 GW of coal-based power capacity by FY32.
Tipplers toast local labels as big brands lose way in policy maze
State liquor policy changes result in scarcity of popular brands like Royal Stag, Budweiser, and Old Monk. Liquor stores push new brands due to supply chain disruptions. Mainstream brands limit supplies leading to a shift towards local brands, impacting the industry supply chains.
Telecom data centres prepare to take the heat of summer months
The persistent heatwave conditions pose increased cooling challenges for telecom data centers, critical components of broadband communications infrastructure responsible for call/data routing and safeguarding essential customer data. Executives from Bharti Airtel's Nxtra Data and Reliance Jio emphasize leveraging renewable energy integration, energy-efficient enhancements, and advanced cooling technologies to manage costs and ensure uninterrupted data center operations.
India's next 5G spectrum auction, a pivotal event in the telecom sector, commences on June 6. Analysts anticipate Bharti Airtel and Vodafone Idea (Vi) to target particular bands in markets where they have renewals, while Reliance Jio's interest is subdued due to its existing 5G airwaves and absence of renewals for six years.
Post Ukraine, India has been best in managing inflation: Marico MD Saugata Gupta
Marico saw its domestic volume rise 3% during the March quarter with flat revenue while gross margins expanded 417 basis points. The company said the market will be slightly inflationary, which could warrant a slight price increase. Last month, it hiked 6% in Parachute and said it will not dampen demand for the hair oil brand.
Adani Enterprises to invest Rs 80,000 crore in capex this fiscal
Adani Enterprises plans 80,000 crore capex, focusing on ANIL and airports. Ganga Expressway gets 12,000 crore. Shah mentions coal-to-PVC and data center. Debt rises 31%. ANIL includes green hydrogen, wind turbines, and large monocrystalline unit.
Business loans boom, personal loans slows down: March banking trends after HDFC merger
This Kerala-based NBFC's NCDs promise to double your money in 75 months. Should you invest?
In six years and three months, an investment in non-convertible debentures issued by Muthoot Mercantile would grow 100 per cent. The issue will close on May 17.
Indian lenders to appeal RBI's tough project finance proposal, sources say
Indian lenders are set to appeal against a central bank proposal to tighten rules for infrastructure project loans. The Indian Banks Association (IBA) is gathering inputs and will write to the central bank, opposing the imposition of higher provisions for under-construction projects. The central bank proposed that banks set aside a provision of 5% of the loan amount for projects at the construction phase, which can be reduced to 2.5% when the project becomes operational and 1% when a certain level of cash flow is achieved.
India's Kajaria Ceramics posts surprise Q4 profit drop on higher costs
India's Kajaria Ceramics reported a surprise drop in fourth-quarter profit on Tuesday, hurt by increased costs and weak demand.
SMFG invests Rs 1,300 crore in SMFG India Credit Co Limited via rights issue
The Sumitomo Mitsui Financial Group holds 100% in SMFG India Credit Co, which was formerly Fullerton India Credit Company Limited. Following the fund infusion, SMFG India Credit Co has invested Rs 150 crore in its wholly owned subsidiary SMFG India Home Finance Co. Ltd.
Prudent Corporate Advisory Q4 Results: PAT grows 19% YoY to Rs 138.7 crore
A retail wealth management services firm engaged in distributing a wide range of financial products reported a 32% growth in yearly average asset under management (AUM) in the mutual fund vertical and a 50% growth in revenues from non-mutual fund products.
Greenko Energies Gets CCI Nod To Acquire Additional Stake In Sikkim Urja
The proposed combination relates to the acquisition of additional shares in the Sikkim Urja Ltd (formerly Teesta Urja Ltd) by Greenko Energies Pvt Ltd., CCI said.
Is it better to have single or joint holding in mutual funds?
Joint holding makes transactions difficult and opens up the risk of disputes
EO data can generate $3 tn in economic benefits; help cut 2 gigatonnes of CO2 emissions: WEF report
The World Economic Forum and Deloitte report emphasize the economic benefits of Earth observation data, with a focus on reducing greenhouse gas emissions. Various industries can leverage EO data for improved operations and sustainability, contributing to global GDP growth.
UP: Akasa Air to start Gorakhpur-Delhi, Bengaluru flights from May 29
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Health insurance: 52% policyholders say their yearly premium has gone up by over 25% in 12 months
The survey by LocalCircles stated 52% health insurance policy owners said that their premium has increased by over 25% in the last 12 months. While 21% of health insurance policy owners indicated that the increase in premium was 50% or more in last one year.
From lower interest rates to strong bargaining power, 5 long-term benefits of high CIBIL score
With a high credit score, you are likely to qualify for loans and credit cards with lower interest rates. Over time, this can save you a significant amount of money in interest payments, especially on large loans such as mortgages and auto loans.
JPMorgan Cuts At Least Seven Investment-Banking Jobs In Asia
JPMorgan Chase & Co. has started a new round of layoffs in Asia, cutting at least seven more investment-banking jobs, according to people familiar with the matter.
