Oil prices edged higher on Thursday as continuous supply disruptions due to the Iran conflict raised concerns over tightening fuel reserves across the globe. Benchmark oil prices traded marginally higher, with WTI Crude rising 0.58% to $98.83 a barrel and Brent Crude gaining 0.44% to $105.5 a barrel.The recovery comes after a sharp decline on…
NEW DELHI: Grasim Industries reported a nearly 28% increase in its consolidated net profit to Rs 3,802 crore for Q4FY26 driven by its building materials, financial services and cellulosic fibres businesses on Wednesday. It posted a consolidated net profit of Rs 2,973 crore for the Jan-March quarter a year ago. On a standalone basis, Grasim…
MUMBAI: Mobile phone financiers will face restrictions on “mobile lock” practices under RBI’s amended rules for loan recovery. Under the reworked draft regulation, lenders can restrict financed devices only under explicit contractual consent and after a 90-day default cycle with a staged 60-day and 7-day notice regime, while mandating that core functions such as incoming…
The Reserve Bank of India (RBI) on Tuesday announced a $5 billion USD/INR buy-sell swap auction scheduled for May 26 as part of efforts to inject long-term liquidity into the banking system, PTI reported. The move also comes at a time when the rupee has weakened sharply against the US dollar amid continued global uncertainties….
Milk prices in Kerala will go up by Rs 4 per litre from June 1 after dairy cooperative major Milma approved a price revision citing rising production, procurement and distribution costs amid mounting pressure on farmers.The decision was taken at a meeting of the Board of Directors of the Kerala Cooperative Milk Marketing Federation (KCMMF),…
The rupee fell to a fresh record low on Wednesday as elevated oil prices and rising US Treasury yields weighed on investor sentiment, while concerns over prolonged geopolitical tensions and potential global rate hikes continued to pressure emerging market currencies, Reuters reported.The domestic currency touched an all-time low of 96.96 against the US dollar during…
Once called the sone ki chidiya, India clearly never got over its gold fever. For desis, gold is not just a metal, rather it is rainy-day savings, wedding-season flex, family legacy and emotional support, all rolled into one shiny yellow package. Somewhere between these wedding seasons, festival offers and “bas thoda aur le lete hain”,…
Employees’ Provident Fund Organisation (EPFO) subscribers will soon be able to withdraw provident fund money directly through the Unified Payments Interface (UPI), with testing of the facility already completed, Labour Minister Mansukh Mandaviya said on Tuesday. The move is part of a broader push by EPFO to improve service delivery and simplify access for over…
Mumbai: Bajaj General Insurance has launched health insurance riders that enable buyers to widen the scope of their basic health plan. The `Age shield’ rider enables buyers of health insurance to ensure that the premium escalation with age will not happen unless there is a claim. The policy is aimed at addressing the complaint of…
India’s eight core infrastructure sectors recorded a two-month high growth of 1.7 per cent in April, supported by higher output in steel, cement and electricity, according to government data released on Wednesday, PTI reported.The core sector had expanded by 1 per cent in April last year, while growth stood at 1.2 per cent in March…