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RBI issues draft norms for dividend declaration by banks

Jan 2, 2024

Mumbai, Dec 2 (IANS) The Reserve Bank of India (RBI) on Tuesday came out with draft norms on declaration of dividend by banks and remittance of profits to head office by foreign bank branches in India.The RBI circular explains the detailed eligibility criteria and guidelines on board oversight that are required.The prudential requirements for banks…

Modi dedicates, lays foundation of Rs.20,000 crore projects in TN

Jan 2, 2024

Chennai, Jan 2 (IANS) Prime Minister Narendra Modi on Tuesday dedicated to the nation and laid the foundation for development projects worth over Rs.20,000 crore in Tiruchirappalli in Tamil Nadu.The development projects include sectors such…

Business

upGrad’s KnowledgeHut CEO quits, company appoints new head

Jan 2, 2024

New Delhi, Jan 2 (IANS) Founder and Chief Executive Officer (CEO) of upGrad-owned edtech company Knowledgehut Subramanyam Reddy has resigned after serving nearly 13 years at the company.Following his departure, the company appointed Asheesh…

Business

Consumer discretionary categories barring jewellery, travel staring at moderating growth

Jan 2, 2024

New Delhi, Jan 2 (IANS) Despite a promising start to the festive season, most sectors, excluding jewellery and travel, seem to have hit the snooze button, as per a report released by HDFC Securities.Several factors contribute to this,…

Business

Goldman Sachs cuts India’s CAD forecast for current fiscal to 1% of GDP

Jan 2, 2024

Mumbai, Jan 2 (IANS) Goldman Sachs has lowered its projection for India’s current account deficit in 2023-2024 to 1 per cent of GDP from 1.3 per cent earlier as the US bank expects services exports to rise further while crude oil prices are…

Business

Auto stocks top losers due to weak Dec volumes

Jan 2, 2024

New Delhi, Jan 2 (IANS) Nifty fell for the second consecutive session on Tuesday. At close, Nifty was down 0.35 per cent or 76.1 points at 21,665.8, while Sensex was down 379.46 points at 71,892.48.Cash market volumes rose compared to the…

Business

Markets witnessing profit booking after 2 straight months of sharp up-move

Jan 2, 2024

New Delhi, Jan 2 (IANS) Domestic equities had a muted handover from its Asian peers after China released mixed manufacturing data on Tuesday. At close on Tuesday, Sensex was down 379.46 points at 71,892.48, while Nifty fell 76.10 points to…

Business

AI, automation tools saving sales teams over 2 hrs of work each day: Study

Jan 2, 2024

San Francisco, Jan 2 (IANS) Artificial Intelligence (AI) and automation tools appear to be saving sales professionals over two hours of work each day a new study has found.According to the software company HubSpot, sales teams are saving…

Business

Not in talks with Musk to manage Starlink services in India: Vodafone Idea

Jan 2, 2024

New Delhi, Jan 2 (IANS) Vodafone Idea on Tuesday denied reports that it is in talks with Tesla and SpaceX CEO Elon Musk for managing its affordable satellite-based Internet service Starlink in India.In an exchange filing, the telecom…

Business

Passenger vehicles remain flat in Dec as entry-level segment remains a drag

Jan 2, 2024

New Delhi, Jan 2 (IANS) In passenger vehicles, despite a strong growth of 15 per cent YoY for UVs, overall PVs remained flat in December YoY due to sluggishness in the entry level segment, says a report by Motilal Oswal Financial Services.…

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