Excise duty cut to help reduce logistics cost; promote exports: Exporters

​​ The government on Saturday announced reduction in excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 per litre. It also cut import duty on raw material of steel and plastic and increased export duty on iron ore and steel ...
Economic Times, 2 hour(s) ago
Also from: NDTV, Rediff.com and 2 other sources

Mayo Clinic invests in Ratan Tata-backed cancer care platform Karkinos Healthcare

Karkinos has raised funding from marquee investors such Ratan Tata, Venu Srinivasan, Kris Gopalakrishnan, Ronnie Screwvala, Vijay Shekar Sharma, and Bhavish Agarwal among others. The Tata Group has invested Rs. 110 crore in Karkinos while Rakuten Medical, the ...
Economic Times, 5 hour(s) ago
Also from: NDTV, Rediff.com and 2 other sources

Primary market action to continue as IPOs worth Rs 1,220 crore close next week

The Rs 412.8 crore IPO of eMudhra had kicked off for subscription on Friday, May 20. The company is selling its shares in the range of Rs 243-256 apiece. The issue is open for subscription till Tuesday, May 24.Given the fall in the global market and the poor ...
Economic Times, 8 hour(s) ago
Also from: NDTV, Equitymaster.com and 2 other sources

Ujjwala Yojana Beneficiaries To Get Subsidy On Cooking Gas Cylinders

More than 9 crore beneficiaries of Pradhan Mantri Ujjwala Yojana will now get a subsidy of Rs 200 per gas cylinder (for up to 12 cylinders), leading to a reduction in its price, which will now cost Rs 803 per 14.2 kg cylinder. A 14.2 kg LPG cylinder normally ...
NDTV, 10 hour(s) ago
Also from: NDTV, Rediff.com and 2 other sources

Wheels India to invest Rs 155 crore in FY23: MD

The Chennai-headquartered manufacturer of wheels to trucks and buses, would make an additional Rs 25 crore investments to the Rs 75 crore it already made at its in new plant in Thervoy Kandigai in neighbouring Tiruvallur district for machining of large wind ...
Economic Times, 1 day(s) ago
Also from: NDTV, Rediff.com and 1 other source

Axis MF sacks 2nd fund manager in two days, no reason given

On May 6, the fund house had issued a statement where it had stated that it had launched a suo motu investigation two months ago to probe potential irregularities. Axis Asset Management Company (AMC) on Friday terminated its second fund manager Deepak Agrawal who was under probe for alleged irregularities. Two days ago the fund house had suspended chief trader and fund manager Viresh Joshi, who was subsequently taken off the rolls.   The employment of Deepak Agrawal, fund manager with ...
Rediff.com, 1 day(s) ago
Also from: Times of India, Economic Times

FDI inflows at record despite slower growth

Among the sectors, manufacturing saw a 76% jump with inflows during 2021-22 estimated at $21. 3 billion,‘Computer software and hardware’ was the most attractive sector cornering around a quarter of the pie, followed by services and automobiles (12% each).
Times of India, 1 day(s) ago
Also from: Rediff.com, Economic Times

Jet Airways Permitted Fly Again; To Resume Commercial Flights

India's Jet Airways said on Friday the country's aviation regulator has cleared it to resume operation of commercial flights. Once India's biggest private carrier, Jet stopped flying in April 2019 after running out of cash, owing billions to lenders and ...
NDTV, 2 day(s) ago
Also from: Rediff.com

RBI govt transfer falls sharply to Rs 30,307 crore, may impact budget math

The transfer amount was finalised at the central bank board meeting which approved the annual report for last fiscal, RBI said in a release. Economists said the fall in the transferable surplus is because of the increased interest the RBI had to pay banks ...
Economic Times, 2 day(s) ago
Also from: NDTV, Rediff.com

RBI Asks Banks To Provide Cardless Cash Withdrawal Facility At ATMs

The Reserve Bank on Thursday asked banks to provide the option of Interoperable Card-less Cash Withdrawal (ICCW) at their ATMs, a move aimed at curbing frauds like skimming, card cloning and device tampering. Currently, a few banks offer cardless cash ...
NDTV, 2 day(s) ago
Also from: Rediff.com, Times of India and 1 other source