The move will enable banks to earn a decent spread by deploying funds raised from FCNR(B) deposits where the yields are around 7%. MUMBAI: RBI has exempted advances against fresh FCNR(B) and NRE term deposits from priority sector lending calculations, completing a three-part policy push to boost foreign currency inflows and ease compliance burdens for…
In a filing dated Aug 7, Religare said RBI, in a communication dated Aug 6, informed the company that its application seeking no-objection or prior approval for the scheme “has been examined and that the request has not been acceded to” MUMBAI: Religare Enterprises’ proposed demerger of its financial services business into Religare Finvest has…
For its low-priced packs, Britannia has largely relied on shrinkflation, keeping the retail price unchanged while reducing the quantity in each pack. BENGALURU: Britannia Industries may implement another 1.5-2% price increase next quarter, largely through “shrinkflation” in its Rs 5 and Rs 10 packs, as higher sugar, palm oil and fuel costs continue to weigh…
The unemployment rate dipped to 4.1% only because Americans left the job market US employers unexpectedly cut 23,000 jobs last month, and labour department revisions shaved 1,03,000 jobs off payrolls in May and June. The unemployment rate dipped to 4.1% only because Americans left the job market. Local public schools cut 50,000 jobs in July,…
India faces the prospect of up to 100% Trump tariffs for its Russian crude oil purchases. The US Senate on Friday approved a bill that could allow President Donald Trump to impose tariffs of up to 100% on goods from countries such as India and China that continue to buy Russian oil and gas and…
The company had reported a net profit of Rs 4,004 crore in the first quarter of the preceding 2025-26 fiscal, the Aditya Birla Group entity said. NEW DELHI: Hindalco Industries on Friday said its net profit rose over 75% year-on-year to Rs 7,013 crore in Q1FY27, backed by strong performance across all business segments. The…
Bajaj Finance was down 5.9% and Bajaj Finserv was down 4.2%. MUMBAI: Reserve Bank of India’s proposal to bar finance companies from offering revolving credit facilities took a toll on shares of non-banking finance companies with Bajaj Finance and Bajaj Finserv together losing nearly Rs 55,000 crore in market cap. Bajaj Finance was down 5.9%…
The company had posted a consolidated net profit of Rs 1,706 crore in the corresponding period of previous fiscal. NEW DELHI: Leading two-wheeler maker Hero MotoCorp has reported a 17% decline in consolidated profit after tax to Rs 1,418 crore in the first quarter ended June 30 due to high base effect. The company had…
According to NPCI data, State Bank of India recorded 631.6 crore UPI transactions in June 2026. Of these, only 2.3 crore transactions were carried out through its own apps MUMBAI: State Bank of India chairman CS Setty on Friday said it is not possible to quantify the increase in operating costs due to UPI causing…
Crude prices continue to rise, as traders remain cautious due to Hormuz disruption. Oil prices inched higher on Friday as traders turned cautious due to uncertainty over shipping through the Strait of Hormuz alongside US President Donald Trump’s recent remarks that the war could end “pretty soon.“Around 7:25 am IST, Brent crude was trading 84…
